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

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February 25, 2019

This Week's News is Sponsored by Better Branches ~

BB

 

General News

 

OUR Credit Union Goes Live with Member Driven Technologies

Member Driven Technologies (MDT), a CUSO that hosts the Episys core platform from Symitar, announced that OUR Credit Union has successfully implemented the Symitar Episys core processing platform hosted by MDT. Royal Oak, MI-based OUR CU has been serving individuals, families and businesses within its community since 1959.

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Constellation Digital Partners Certifies First Round of Services from Development Partners

Constellation, a CUSO originally launched by Coastal FCU and other CUs in May 2017, says that it is the first and only open digital banking platform for CUs that allows service providers to create different services and add them into the platform through a marketplace-style interface. Their first set of certified services are now live on the platform.

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Hardware News

 

The Branch of the Future Is Here Now

The author contends that video and digital signage enable tomorrow’s branch today. He points to examples of FIs deploying advanced technology in revamped branches, especially video that allows branch visitors live access to a wide variety of professionals as well as digital signage that displays dynamic information about everything from banking products to community events.

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Teller Assist Technology Is Key Enabler of Secure, Personalized Branch Banking

RBR's report entitled Teller Automation and Branch Transformation 2019 covers 23 key global markets and reveals ongoing growth in the number of teller assist units (TAUs), with 181,000 terminals installed at the end of 2018. Recyclers (TCRs) now account for almost 80% of such units and have increased by 28% since 2014. Deployment allows FIs to remove traditional glass teller positions without comprising security, meaning staff can interact with visitors in a more relaxed, open-plan setting, devoting their attention to relationship building rather than cash counting.

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

 

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Software Updates

 

LibreOffice 6.2 Brings New Interfaces, Performance Improvements to the Open Source Office Suite

New interface styles and feature improvements are available in version 6.2 of LibreOffice — the most popular open-source office suite — recently released by The Document Foundation. As with most software updates, bug fixes and feature enhancements are present, making this release a significant upgrade, particularly for users coming from Microsoft Office, or working with files created with those programs.

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What CUs Need to Understand About APIs

Moving to an open core infrastructure requires strategic planning for credit unions and some help in determining the critical ingredients, such as application programming interfaces, for a successful system moving forward. This article offers some guidance for CUs considering conversion to a more open core system and how the Credit Union Financial Exchange standard can help achieve that goal.

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ATMs/Kiosks

 

ATM Hacking Has Gotten so Easy, the Malware's a Game

While ATM-targeted “jackpotting” malware—which forces machines to spit out cash—has been on the rise for several years, now there is a new variant on the scheme that takes that concept literally, turning the machine’s interface into something like a slot machine that pays every time. To install WinPot malware, a scammer needs either physical or network access to a machine; if you cut a hole in the right spot, it's easy enough to plug into a USB port. Once activated, the malware replaces the ATM's standard display with four buttons labeled “SPIN”—one for each cassette, the cash-dispensing containers within an ATM. Tap SPIN, and out comes the money.

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NCR Activate Enterprise Wins Best Next Gen ATM Software Award

NCR announced that they won the inaugural ATMIA Next Gen award for our Activate Enterprise multi-vendor ATM software at the ATM Industry Association (ATMIA) meeting. Activate delivers a mobile device-like experience with pinch, swipe and zoom interactions as well as the ability to sign on the screen using the multi-touch display.

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TMD Security Debuts New Suite of ATM Defenses

TMD Security announced its new ATM Security Controller 7000, a single modular solution architecture that controls a suite of defenses against card fraud, logical threats and physical attacks. The company also has introduced what it describes as the ATM industry’s first integrated keyless access control technology for the ATM top box, safe, branch and secure room doors.

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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:  

PSCU

PSCU

and their client is:

Chevron 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

 

Cisco Exec. Details How Wi-Fi 6 and 5G Will Fire-up Organizations in 2019 and Beyond

While it is early in the 5G and Wi-Fi 6 evolution, 2019 will see development of that integration, according to Cisco SVP Scott Harrell. This year will find carrier-based mobile connectivity (LTE and 5G cellular) and unlicensed nomadic networking, Wi-Fi 6, converge in two key areas: radio signal encoding and scheduling. Both new wireless systems use the same method to squeeze more users and data into the frequencies they use, so each base station or access point can talk to more devices simultaneously.

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Meet the Mobile Finalists for the 2019 Innovation Series Mobile Finalists

This article looks at four vendors that are pushing the envelope toward new levels of smartphone functionality in credit union land.

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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

 

NCUA Review Finds No Bank Secrecy Act Data Breach

Following a report that suggested NCUA might have been the source for private data hackers obtained on BSA officers at CUs targeted by a phishing attack, the agency says its review indicates it is not the source of the compromise. NCUA added that it is encouraging all credit union staff to be wary of suspicious emails, and credit unions may report suspicious activity to the agency.

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5 Workplace Technologies That Cause the Most Employee Data Breaches

Some 83% of US security professionals said employees have accidently exposed sensitive customer information, according to an Egress survey. The report identified the following five most common technologies that lead to accidental breaches by employees: 1. External email services (Gmail, Yahoo!, etc.) (51%); 2. Corporate email (46%); 3. File sharing services (FTP sites, etc.) (40%); 4. Collaboration Tools (Slack, Dropbox, etc.) (38%); and 5. SMS / Messaging Apps (G-Chat, WhatsApp, etc.) (35%).

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Exposure of Sensitive Data via Cloud Applications and Services Increases 20%

The Dtex 2019 Insider Threat Intelligence Report released by Dtex Systems revealed that 98% of assessments discovered sensitive and confidential information exposed and available online and in the cloud; found primarily in Dropbox, Google G Suite, and Microsoft Office 365. This was an increase of 20% over 2018.

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Technology and Marketing

 

How to Master Omnichannel Service: 5 Steps

Consumers already expect fast and efficient service across every channel, according to a Zendesk report. The article suggests some ways to provide it: 1. Roll out an integrated omnichannel approach; 2. Add knowledge content and extend self-service; 3. Fully integrate live channels, especially phone support; 4. Staff channels to meet consumer expectations; and 5. Offer the right channel at the right time.

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Online Banking/E-Commerce/Website Design

 

Once Hailed as Unhackable, Blockchains Are Now Getting Hacked

More and more security holes are appearing in cryptocurrency and smart contract platforms, and some are fundamental to the way they were built. In short, while blockchain technology has been long touted for its security, under certain conditions it can be quite vulnerable. Sometimes shoddy execution can be blamed, or unintentional software bugs. Other times it’s more of a gray area—the complicated result of interactions between the code, the economics of the blockchain, and human greed.

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Fintechs Help Boost US Personal Loan Surge to a Record $138 Billion

Americans are turning to up-and-coming fintech firms instead of traditional banking options to pile on debt. The unsecured personal loan market hit an all-time high last year, surging 17 percent year over year to $138 billion, according to data from TransUnion. Last year, fintech companies issued 38 percent of all U.S. personal loans, according to TransUnion. That's up from 35 percent a year earlier and just 5 percent as recently as 2013.

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Digital Banking Strategies and Investments for 2019

According to this article, banking is at a tipping point, as accounts are increasingly being opened at organizations that are heavily investing in digital capabilities. Alternative financial services firms, from established fintech providers to relative newcomers, are also gaining followers and users. The article explores strategies that FIs should consider in 2019 to address these challenges.

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Internet Access

 

128 Technology Is Starting a Revolution for Secure SD-WANs

128 Technology believes that the best way for organzations to protect themselves against threats is by eliminating tunnel-based approaches to SD-WAN. The 4-year-old networking startup has developed a pure-software service to simplify routing and offer a different approach to the SD-WAN use case. Instead of using tunnels to connect different areas of a network, it uses something it calls multi-path secure vector routing.

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FatPipe Networks Teams up with Azure for SD-WAN

FatPipe Networks became the latest SD-WAN vendor to announce a tie-in with a cloud provider with the news that it's working with Microsoft Azure. Cloud service providers have taken note of the importance of bundling SD-WAN as part of a cloud service in order to deliver SaaS-based applications such as Office 365 or migrating workloads to Amazon Web Services (AWS) or Microsoft Azure.

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Call Centers

 

Chatbot Integration to Save FIs $7.3B by 2023

Juniper Research has released a study showing that FIs will save $7.3 billion in costs globally by 2023 through the increased use of chatbots, up from $209 million in 2019. The research indicated that chatbot integration in mobile banking apps will account for 79 percent of successful integrations by 2023.

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