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Sharetec System announced that seven customers are celebrating 20 years of business partnerships: Hockley County Schools Employees CU, McNesse FCU, Family 1st of Texas FCU, United Savings CU, Teachers CU, River CU, and Wisconsin Medical CU.
KnowBe4 announced a new, complimentary tool aimed to gauge how many employees will reply to a phishing email called the Phishing Reply Test (PRT). This is a web-based tool that cybersecurity professionals can use to test employees on common scenarios for targeted attacks used by phishers.
Checkbook.io, a financial technology start-up based in Sunnyvale, CA, announced that BCU (Baxter Credit Union) will be using their digital check solution to replace their paper-based loan check disbursement process. The system uses Blockchain enabled Digital Checks, resulting in instant delivery and tracking for its members and faster loan funding times.
After roughly five years, IBM is refreshing the mid-range models of their Storwize storage appliances, adding the V5010E and V5030E to the product portfolio. The main changes are in the connection options and number of drives that can be added to a system, with the new systems capable of utilizing a 5U enclosure packed with 92 drives.
This article looks at five testing devices: AirCheck G2 Wireless Tester (NETSCOUT), Cape Networks Sensor, EyeQ Wi-Fi Monitor (7SIGNAL), NetBeez Wi-Fi Monitor and WiFi Pineapple Tetra.
ACROS Security, a provider of security micropatches, launched 0patch PRO, a service that simplifies security patching on Windows platform for Enterprises and individuals. The company claims that 0patch PRO is the first commercial platform of its kind to enable micropatches (microscopic pieces of binary code that replace only vulnerable parts) to rapidly and unobtrusively fix the most important security vulnerabilities.
"Refurbished" most commonly refers to the distribution of equipment that has been previously returned to a manufacturer or vendor for various reasons. The only real difference between "refurbished" and "used" products is that refurbished products have been tested and verified to function properly, and are thus free of defects, while "used" products may or may not be defective. Meanwhile, Remanufactured products may be unused customer returns that are essentially "new" items, or they may be defective products that were returned under warranty and resold by the manufacturer after repairing the defects and ensuring proper function. Remanufacturing is a more thorough and costly process because it is more rigorous and requires a much higher standard than refurbishing.
Independent ATM deployer Cardtronics said that 11,000 ATMs have been enabled for cardless transactions at store locations of 66 different U.S. retailers up until now, with an additional 8,000 ATMs to follow over the next several months. Cardless Cash leverages the FIS mobile banking app to allow consumers to access cash without having to use a card.
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:
and their client is:
An investigation of mobile apps from 30 FIs reveals weak encryption, data leakage, insecure data storage, and other vulnerabilities. Almost all of the apps researched could easily be reverse engineered, providing access to sensitive source code data, including account credentials, API keys, and server file locations.
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Mercator Advisory Group’s report – The State of Debit Card Fraud - shows that: * 70% of card not present fraud is carried by Merchants; * 27% of card not present fraud is carried by card issuers; and * 3% of card not present fraud gets eaten by the cardholder themselves.
Some observers contend that many security software vendors overpromise and under deliver on the benefits of their AI/ML implementations. For example, Dr. JT Kostman, leader, applied artificial and frontier technologies, Grant Thornton, said "most of the companies claiming to have AI/ML intelligence capabilities that I've evaluated have ended up having to admit that their claims were little more than marketing puffery." Others also point out that many people grossly underestimate the amount of data needed to train a machine learning model properly - they insist that it can take you a while to build up that data.
Many security experts agree that insider attacks are harder to identify and remediate than those that originate from outside the organization. They point out weaknesses such as insufficient authentication, inadequate user behavior monitoring in the cloud, and a failure to properly secure personal devices as some of the reasons that insiders are so diffcult to control.
FinTechs take full advantage of advances in digital technologies to meet and exceed consumer expectations when it comes to making it easy to obtain a loan. The author claims that the battle for consumer loyalty isn’t just about digital vs. brick-and-mortar; it’s about consumer engagement and delight. She contend that FIs "have to transform the experience” and she provides some examples of how to engage consumers searching out loans.
Aris Jerahian, AVP of Card Services at Orange County’s Credit Union, looks at: 1. How am I tracking my acquisition performance? and 2. Do I have the correct key performance indicators (KPI) to measure acquisition performance? in this article. He also covers KPIs for direct mail and online marketing methods.
This article highlights six ways that FIs can prepare to better connect with consumers who are nearly all digital-first now: 1. Reorganize around the entire buying process; 2. Rework management accounting and resource allocations; 3. Deploy strategic delivery plans—aligning with strategic or tech plans; 4. Switch out sales pitch-oriented collateral with interactive and compelling information to drive self-buying; 5. Focus on digital marketing and social media, supplemented with physical outreach to drive digital; and 6. Consider FinTech partnerships that offer digital delivery.
ACH debits became eligible for same-day settlement on Sept. 15, 2017, with the same availability requirement. Last March, debits were added with the stipulation that RDFIs must make the funds available by 5 p.m. local time. NACHA members voted last September to expand Same Day ACH submissions to 4:45 p.m. ET. The new operating rules also increase the Same Day ACH per-transaction dollar limit from the current $25,000 to $100,000. The third window was to open on Sept. 18, 2020, but NACHA bumped it to March 19, 2021, after the Fed said it wanted more public comment on the move.
The FCC has approved Elon Musk's SpaceX application to deliver broadband services from its Starlink Low Earth Orbit satellites. Meanwhile, Amazon has plans to establish a constellation of 3,236 satellites in low Earth orbit to patch up areas with poor or no Internet connectivity. Additionally, Facebook, Boeing and LeoSat have revealed plans to beam Internet from space.
The author posits that we live in a customer-centric world, where metrics like Average Speed of Answer (ASA), Average Handle Time (AHT), and First Call Resolution (FCR) are, by themselves, short-sighted and more focused on controlling costs instead of enhancing the experience. She contends that it’s clear that the quality of your customer experience is directly correlated with Lifetime Customer Value.