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Vibe Credit Union ($911M assets; 64,000 members; Novi, MI) selected Corelation’s KeyStone to forge ahead after a successful merger with Oakland County Credit Union. The Michigan-based CU represents Corelation's 100th client.
VSoft Corp. has launched Wings, a new core processing system built on advanced browser-based technologies. According to a company, the platform was purpose-built from the ground up to provides real-time, high-volume transactions across multiple channels.
Autobooks, a small business payment and accounting platform integrated within FIs’ digital experience, announced that 25 FIs have selected Autobooks. Farmington Hills, MI-based Community Choice Credit is one CU that has chosen the package for thier small business members.
The most convenient payment system is one where a consumer doesn’t even have to do anything. This article claims that the third wave of digital commerce is connected commerce, which is about harnessing the intelligence of IoT devices and sensors to complete purchases. Whether it is a car, a refrigerator or a smartwatch, the payment can be initiated and completed by a sensor/machine with little or no intervention by the user.
The common wisdom is that containers and the container management framework Kubernetes will be transformative. A hurdle remains, however, and that hurdle is storage. According to HPE, this new and vastly more efficient world of microservices is at risk if storage architectures are not developed that match the efficiency, speed, scale and agility of other elements of the microservices paradigm.
The author posits that AI can help target potential new members and connect them with services. Credit unions can also use AI to learn the patterns in their current membership data and build profiles of their ideal members.
Rumpus, new the video conferencing solution from Oblong Industries, allows users to share desktop and webcam streams simultaneously. The solution is designed around the idea of multi-stream collaboration for remote teams. Users can stream their webcam and desktop concurrently, while other participants can interact with streamed content using their own pointer—giving the ability to highlight or annotate streamed content visually without interrupting the speaker, improving the flow of meetings.
Here are four ways fintech has changed the lending process and how traditional FIs and lenders can keep up: 1. They introduced alternative lending models; 2. They offer fast approvals and funding; 3. They’re making use of data; and 4. They offer perks and savings.
In a recent working paper by the Atlanta Fed, researcher Oz Shy found that the minimum amount you’re allowed to withdraw from an ATM in particular — which is generally $20 — has a “strong effect on consumer payment choice.” Hence, when a consumer is faced with a bill that’s below $20, they’d generally opt to pay cash, the study argued. But if the bill came up to $21, they’d use their 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:
Six out of ten medium and large enterprises are already undertaking a strategic review of 5G wireless, according to a new survey about the coming high-speed cellular communication standard. More than 80% of the 265 key decision-makers surveyed believe 5G will increase employee productivity, reduce costs, enhance the consumer experience, and improve business agility.
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Fidelis Cybersecurity announced the latest release of the Fidelis Elevate platform. This unified platform helps address the challenges that security professionals face when hunting for threats via traditional methods such as logs, events, and alerts.
The industries making the largest investments in business analytics tools are banking, discrete manufacturing, process manufacturing, professional services, and government. Two of the fastest growing technology categories will be cognitive/artificial intelligence (AI) software platforms (37% CAGR) and non-relational analytic data stores (30%), according to IDC.
New York-based CAP COM FCU is using a data lake and new reporting tools to integrate and interpret member data for business units across the enterprise. The effort began with a three-year plan and has kicked into high gear after integrating its data lake into a revamped core processing system.
A new survey reveals 53 million Americans have never switched the card they use most often, preventing them from taking advantage of benefits and rewards offered by other cards. Another 16-million Americans last switched cards 10 or more years ago, and only 34% of cardholders swapped their most frequently used card within the past three years, reported Forbes, citing a CreditCards.com study.
According to research by McKinsey, people use more than one channel to complete a task upwards of half of the time. So how could anyone argue omnichannel is a bad thing? Why the pushback? Speaking with omnichannel naysayers and critics, three themes emerge: 1. Omnichannel is too focused on upgrading the existing way of doing things - FIs need to expedite their evolution into truly digital-first enterprises; 2. It diverts attention from more important matters; and 3. Given current systems, the sheer complexity presents a high hurdle.
As more and more companies adopt tokens as a proxy for the primary account number and other sensitive payment data, the day is fast approaching when the utility of the technology will move beyond the payments box, according to CyberSource, an e-commerce services provider. They also note that a data element called the Payment Account Reference, or PAR, could be used as an overarching data identifier for a consumer’s card account to find the correct underlying primary account number. It’s a tool that could minimize card declines when a card is updated.
Encrypted network traffic presents trade-offs, for example it makes network traffic less transparent to your own security people and monitoring systems. However, you can inspect traffic at the endpoints where encryption and decryption are performed, and you can learn a lot just from network traffic metadata, the information in the headers that tell the network where the packet came from and is supposed to go to.
Infovista's Ipanema SD-WAN with cloud-native management and control of applications combines session-based routing and dynamic path selection of the underlay network with an overlay of application visibility and control of the quality of experience for business-critical applications. Additionally, Ipanema automatically understands application delivery requirements and maintains application quality of experience by using machine learning techniques. It distinguishes between the applications and their flows at the user session level, and it associates and enforces business policies.
TRUSTID, a Neustar company, just released its second annual report on the state of call center authentication, and it they suggest that as criminals’ tools and tactics change, call centers are increasingly looking to new technologies that will enable them to quickly and accurately authenticate calls and prevent fraud. The report elaborates on a few insights: 1) Call centers are now the vector of choice for criminal attacks, according to 51 percent of respondents from the financial services industry; 2) Virtualized calls pose the greatest account takeover threat; 3) Pre-answer caller authentication is emerging as a preferred choice; and 4) Easy consumer enrollment remains call centers’ top requirement.
Human customer support agents, embrace the use of artificial intelligence (AI) to assist them in performing their jobs, according to a recent report from Salesforce Research, with 70% of customer support agents saying they believe "automating routine tasks would allow them to focus on higher value work." The report indicates that 56% of service organizations are investigating ways to use AI in work processes. Presently, only 24% of customer service teams use AI, though 34% indicate plans to use AI within 18 months.