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Your source for the latest technology information of interest to credit unions across America.

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CUTT Anniversary logo 2019

December 10, 2018

This Week's News is Sponsored by Better Branches ~

BB

 

General News

 

PSECU Partners with Kony

Kony, a leading provider of digital banking solutions, and PSECU, Pennsylvania’s largest CU, announced their ongoing partnership to deliver an updated digital banking application to PSECU's more than 450,000 members. PSECU selected the Kony Digital Banking Platform (Kony DBX) which allows for the delivery of an omnichannel experience across mobile, web, ATM, and call center channels.

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ChannelNet Connects UNIFY Financial CU to Its OneClick Solution

UNIFY Financial Credit Union has launched ChannelNet’s OneClick Financial which is a comprehensive, personal digital experience platform for its more than 245,000 members. OneClick Financial provides each member with their own personal page that cross-sells relevant products and services, integrates with social media, displays video, provides educational content and gathers feedback to help ensure strategic interactions.

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Hardware News

 

IBM Boosts AI Chip Speed, Bringing Deep Learning to the Edge

IBM is unveiling new hardware that brings power efficiency and improved training times to artificial intelligence (AI) projects. AI development has relied extensively on GPUs over the last decade for performance improvement, though dedicated AI hardware is necessary for continued increases in performance, according to IBM. They also state that in-memory computing is key to performance improvements in AI and general computing applications.

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Hardware Section Sponsored by
Millennial Vision, Inc. (MVi)

 

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Software Updates

 

How to Protect Excel Formulas

Using Excel's Protection feature, you can prevent users from inflicting accidental damage. However, Excel protection isn't a security feature. Protection is meant to prevent well-meaning users from accidentally damaging your work. It won't protect sensitive and confidential data from falling into the wrong hands. This article provides some practical step by step ways to protect Excel spreadsheets.

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The Best Core for Your Credit Union

How does a credit union choose the right core for its needs? The article recommends these three steps: 1) Analyze core processors that have clients similar to your credit union and check for gains made in relevant performance categories; 2) Reach out to peers using a core in which you are interested to solicit an unbiased testimonial of the user experience; and 3) Develop core conversion guidelines, vendor management policies, and vendor risk-rating worksheets.

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WordPress 5.0 Release Brings Brand New Editor for Easier Page Design

WordPress — a leading blogging and content management system across the web — has released version 5.0. WordPress 5.0 adopts the new Gutenberg post and page editor as default, making embedding outside content and building multimedia experiences easier, without relying on third-party plugins. It also now includes support for PHP 7.3 and a new default theme.

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ATMs/Kiosks

 

3 Drivers of a Cashless Society

Today, only 41 percent of Americans regularly carry cash, creating a demand for alternative payment methods. The author contends that the 3 drivers of a "cashless society" will be prepaid debit cards, frictionless dual-interface cards and multi-use point-of-sale systems.

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ATMs/Kiosks Sponsored by
Heritage Industries


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CU Success Stories  

 

Here is a chance to learn about real life credit union success stories from various technology vendors through the words of their clients. This week's vendor is:  

Member Business Solutions

MBS

and their client is:

South Carolina Federal Credit Union

Credit Unions - if you have a vendor that you are happy with then please This email address is being protected from spambots. You need JavaScript enabled to view it.!

Vendors - if you have a credit union that is happy with your solutions then please This email address is being protected from spambots. You need JavaScript enabled to view it. and we will give you a $100 discount on your Case Study!

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Wireless World

 

Here's Why Account Authentication Shouldn't Use SMS

In July 2016, the National Institute of Standards and Technology advised that SMS should be deprecated. Many security experts believe that SMS continues to pose significant risks to individuals because scammers have increasingly tapped these messages via more aggressive attacks as a means to compromise accounts.

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The ‘Big Bang’ of Mobile Banking Adoption Is Over

Javelin’s 2021 forecast shows that growth in monthly mobile banking adoption is tapering off and will remain far short of adoption of online banking for years into the future. Meanwhile, additional Javelin forecasts for branches, ATMs, call centers, and interactive voice response systems underscore that these channels are in slow decline but far from extinction.

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Wireless World Sponsored by
Member Access Pacific (MAP)

MAP

 

The MAP App™ is the first network-branded prepaid card exclusively serving credit unions to offer mobile banking -
contact us now to learn more about this market-leading innovation for credit unions:

(866) 598 - 0698

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Security Section

 

3 Ways to Kick-Start Your Organization's Cybersecurity Training

While cyberattacks remain the no. 1 business risk in North America, only one in four employees are aware of the most common cyber security threats—including phishing attacks, ransomware, and impersonation—according to a recent report from Mimecast. They recommend that for organizations wanting to either refresh, improve, or begin better cybersecurity education practices, they should follow these three tips: 1. Be persistent; 2. Make it mandatory; and 3. Make it funny.

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Is Regulators' Green Light on AML Tech a Game Changer?

Federal regulators just issued a joint statement encouraging AI's use to comply with the Bank Secrecy Act and other anti-money-laundering rules. Regulators specifically called out AI software and digital identity technologies as worth testing, saying FIs can experiment with them without fear of criticism.

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Leaders Roundtable

Core Systems:

Core Systems as Systems of Engagement


Celent - http://www.celent.com
Read Stephen Greer's comments:
https://www.cunews.com/Celent.pdf

Corelation - http://www.corelationinc.com
Read Theresa Benavidez's comments:
https://www.cunews.com/Corelation.pdf

Enhanced Software Products - https://www.espsolution.net
Read Matt Lefler's comments:
https://www.cunews.com/ESP.pdf

Member Driven Technologies - http://www.mdtmi.com
Read Scott Johnston's comments:
https://www.cunews.com/MDT.pdf

Share One - http://www.shareone.com
Read Teri Van Frank's comments:
https://www.cunews.com/ShareOne.pdf




United Solutions Company - http://www.unitedsolutions.coop
Read Jim Giacobbe's comments:
https://www.cunews.com/UnitedSolutions.pdf

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Technology and Marketing

 

4 Reasons Your Team May Be Overwhelmed by Social Marketing

Social marketing has become one of the most effective and frustrating channels for marketers. This article looks at how you can craft a more effective and powerful social strategy.

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5 Ways to Take Charge of Online Reviews

Marketing leaders from three credit unions share strategies for how they nurture positive reviews, respond to negative ones, and retain members.

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Online Banking/E-Commerce/Website Design

 

NACHA Wants the Fed to Take a Broader View of Faster Payments

NACHA is not taking a position on whether the Federal Reserve should build a proposed real-time settlement system, but in recent comments the automated clearing house governing body said it is concerned the Fed’s current proposal is “too narrowly focused” and favors instant payments at the expense of other payment types. The group hopes that the Fed could help existing payment systems better serve the public through expanded settlement-service operating hours, support for a directory serving all electronic payment types, support for liquidity-management services, and more tools for the private-sector ACH operator to settle transactions when other Fed services are closed.

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Metal Payment Cards Preferred over Plastic in Consumer Survey

In a survey commissioned by CompoSecure, 59 percent of consumers indicated a preference for metal or metal hybrid cards over plastic, all other considerations being equal. Millennials expressed the highest interest in metal cards, particularly in the U.S., where 77 percent said they would rather have metal cards.

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Internet Access

 

Cloud Service Providers Are Jumping into SD-WAN Waters

VMware once again led the SD-WAN pack with 19% share of third quarter, but Cisco moved into second place with 13% revenue share while Aryaka, which was in second place in the second quarter dropped to third. Meanwhile Versa Networks announced it was partnering with Amazon Web Services to offer SD-WAN to AWS partners. Citrix and Riverbed also announced availability of their SD-WAN offerings on Microsoft Azure and AWS.

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Microsoft's Edge to Morph into a Chromium-Based, Cross-Platform Browser

Microsoft is going to remake its Edge desktop browser by using Chromium components and by bringing it to Windows 7, 8.1 and macOS, in addition to Windows 10. Chromium is an open-source browser implementation that is used as a base by a number of browser developers, including Google (with its proprietary Chrome browser), Vivaldi, Opera, Yandex, Brave, and more. For current Edge users on Windows 10, it's business as usual. Users don't need to do anything to prepare for the coming change.

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Call Centers

 

5 Things Your Agents Can Say to Dissolve Caller Frustration Immediately

The author recommends saying these 5 phrases to help callers feel valued and more willing to dial down their irritation: 1. Walk me through what you’ve experienced so far; 2. Your experience sounds like it was extremely irritating; 3. Let me make sure I understand what happened; 4. Would you prefer to be put you on hold while I investigate how to help you best, or would you rather I call you back when I have a solution; and 5. Has this conversation been satisfying for you.

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