Your source for the latest technology information of interest to credit unions across America.
Subscribe to our monthly newsletter and stay on top of the latest technology trends in Hardware, Software, ATMs, Biometrics, Wireless, Online Banking, Marketing, Security, Internet Access and Call Centers.
This Week's News is Sponsored by Better Branches ~
Fiserv Offers Billers a Service That Lets Consumers Pay Bills from a Mobile Wallet
Fiserv announced a feature that lets consumers upload bills to a mobile wallet via a quick-response code, pay the bill, and have the bill automatically update with each new cycle. According to a Fiserv spokesman, two billers so far are “in the implementation stage” for the new service, called Mobile Bill Presentment.
Allied Payment Network Introduces Real-Time Digital Bill Pay
Allied Payment Network introduced what it claims is the first-of-its-kind, real-time digital bill payment technology dubbed Pay Now. With a single click, funds are immediately moved from the user's account to the biller, allowing for instant confirmation from the biller that the bill has been paid.
~~~
HPE Promises "100% Reliability" with Its New Storage System
Hewlett Packard Enterprise has multiple enterprise-class storage choices, offering products under the Nimble, 3PAR, and ProLiant brands, plus the enterprise storage software of InfoSight, developed by Nimble. You can add Primera to that list, a new high-end storage array that’s billed as a self-managing platform that uses AI techniques to deliver what they claim to be 100% reliability guaranteed.
MRAM: The next Step for Solid State Storage?
MRAM (Magneto-Resistive Random Access Memory) is a solid state storage technology with no moving parts. Whereas SSDs work by trapping an electrical charge in a NAND cell, MRAM storage works by manipulating a magnetic field, similar to the way that HDDs are based on magnetic storage. Although MRAM technology shows great promise, it will likely still be several years before the technology will see mainstream adoption.
~~~
Is a Netflix Subscription Model the Future of Financial Services?
Ernst & Young research predicts a big advantage for first-movers that adopt a consumer subscription model built around financial health ... unless the big tech companies get there first. According to research from Cornerstone Advisors, roughly three out of ten consumers say they would open a checking account with Amazon that was bundled with other services (e.g., cell phone damage protection, ID theft protection and roadside assistance) - plus they’d be willing to pay $5 to $10 a month. Consumers also said they would switch FIs for a checking account bundled with services that help them save money, add convenience, and offer protection for an additional $5 to $10 monthly fee.
AI Should Be the Next Big Payments Push
The author posits that AI and other new technologies can make transactions safer and more secure, and could help stop data breaches. He points to numerous technologies that have already hit the market, such as biometrics, two-factor authentication, and tokenization as evidence that tech is rapidly affecting payments.
~~~
What's the Future of the ATM Industry?
Consumers are paying less frequently with cash and credit cards but still want to see more ATMs deployed, according to the sixth edition of the ATM Future Trends report. In addition to an overview of the state of the industry, the report discusses how the upgrade to Windows 10 is effecting the industry.
TMD Security Integrates Easthouse Keyless Locks for ATM Top Box and Safe
TMD Security has partnered with Nanjing Easthouse Electrical (SecuRam) to integrate Easthouse's keyless locks for ATM top box and safe into its keyless access management solution. They claim that this is the first single-access scheduling and provision solution for ATMs and a wide variety of other access points, such as secure room and branch, that uses encrypted one-time-codes and mobile app instead of physical keys.
~~~
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:
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!
~~~
Here’s What 5G Will Mean for Financial Services
It might be a few years until everyone is using global fifth-generation cellular wireless (5G) technology, but experts at Deloitte are predicting the new iteration of wireless could make an impact by the end of this year, especially in banking. This article outlines five “surprising” ways that 5G will be a catalyst for an optimized, personalized digital banking experience in the years to come.
To satisfy consumers’ need for convenience and to address the concerns over security, Bank of America has opted for a virtual card solution: digital debit cards that can be issued instantly within its app. This serves two core objectives: it solves instant in-branch issuance concerns with fraud, and it’s a powerful reason for cardholders to use their mobile banking apps more often.
Mobile App Payments on Rise, but at a Slower Pace
“The State of Mobile Payments in 2019” report from the Electronic Transactions Association shows U.S. consumers spent $64 billion through mobile wallet apps or dedicated apps from a retailer last year, up from $45 billion in 2017. However, the 42% rate of growth in 2018 was down from 51% in 2017. The ETS report also found that about 23% of smartphone owners used a mobile wallet app in 2018 and about 11% of smartphone owners were active users of such payment methods.
~~~
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
Organizations Need Greater Visibility into Network Activity
Some of the key issues reported in the "Challenges of Managing and Securing the Network 2019" report were: * 81% of respondents reported not having enough monitoring tools in the right places on the network; * 80% rated ‘alert fatigue’ as a significant concern; * 76% reported that ‘tool fatigue’ is a significant issue * 91% indicated ‘integrating solutions to streamline processes, increase productivity and reduce complexity’ is a significant challenge; and * 90% reported slow, complex CAPEX purchasing cycles are reducing their flexibility in defending their organizations’ networks.
Tempered Networks Helps Simplify Secure Network Connectivity
Tempered Networks has created a platform utilizing the HIP (Host Identity Protocol) and a variety of technologies that partitions and isolates the network into trusted microsegments. Tempered Networks’ Identity Defined Networking (IDN) platform is deployed as an overlay technology that layers on top of any IP network. The HIP was designed to be both forward and backward compatible with any IP network without having to make any changes to the underlay network.
~~~
Are Financial Marketers Worthy of C-Suite Status?
This aticle contends that the CMO needs to build partnerships across the organization and that they need to move well beyond the language of a creative ad executive, using the analytic and financial language of the rest of the financial institution.
The Data Lake Is Becoming the New Data Warehouse
Data warehousing keeps getting eclipsed by new industry paradigms, such as big data, machine learning, and artificial intelligence. This trend has fostered the impression that data warehousing is declining as an enterprise IT priority, but in fact most larger organizations now have at least one and often multiple data warehouses serving various downstream applications.
~~~
Navy FCU Launches New Online Mortgage Application Tool
Navy FCU has launched HomeSquad, a new online mortgage application tool the credit union said is designed to simplify the home buying process. Navy Federal members can access HomeSquad through the Navy Federal mobile app or through the CU’s website. This article goes on to detail all of HomeSquad's features.
Visa Rolls out Payment Installment APIs
Visa has introduced a suite of APIs to help FIs and retailers offer consumers the option to pay off in-store and online purchases in installments. Installment payments is a fast growing sector, with nearly three in four credit cardholders in the US believing that the option is helpful for budgeting and 70% saying it helps alleviate the stress of large purchases.
~~
Mist's AI-Driven Virtual Assistant Speeds up Network Troubleshooting
Many experts predict that digital assistants using artificial intelligence will have a big impact as an IT support tool, as Mist Systems' virtual network assistant Marvis demonstrates. Mist includes a capability called dynamic packet capture (dPCAP) that automates the collection of information when the troubleshooting process starts. Packet capture can be extremely useful, but it typically requires an engineer to deploy specialized equipment locally. The automation capabilities Mist brings enables packet capture to be done anywhere and anytime.
Comcast Business Adds Managed Router VNF to ActiveCore Platform
After launching SD-WAN two years ago on its ActiveCore platform, Comcast Business is now offering managed routers on the same platform. "SD-WAN was the first product on the ActiveCore platform, and managed router is our second product, and then security is our next VNF," said a Comcast spokesperson.
SD-WAN Buyers Should Think Application Performance as Well as Resiliency
One area of differentiation for SD-WAN vendors is how they handle application performance. The author recommends that SD-WAN decision makers look to suppliers that have specific technologies integrated into it that can act when congestion occurs, e.g., a solution with path conditioning, traffic shaping and sub-second link failover.
~~~
Top 6 Chatbot Building Platforms
Some chatbots will work with both spoken words and text messages while others communicate only through text. Some mainly support humans while others stand alone. Some are upfront about their mechanical soul and others coyly assume a human-like role complete with a human photo from a stock photo collection. This article looks at six chatbot solutions that may help in your contact center.
~~~