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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

November 18, 2019

This Week's News is Sponsored by Better Branches ~

BB

 

General News

 

Harland Clarke Offering Expanded Solutions for Health Savings Accounts

Harland Clarke said it is now extending its payment and marketing services offerings to the rapidly growing health/wealth vertical market of Health Savings Accounts (HSAs).

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FICO Adds AI-Powered Authentication to Fight Fraud

FICO announced that it is adding two new product families to its portfolio: FICO Identity Proofing, which allows CUs to digitally onboard new members without requiring in-person verification, and FICO User Authentication, a suite of capabilities including multifactor, biometric, and behavioral authentication.

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Hardware News

 

Intel Will Build AI into Laptops for Tomorrow's Speed Boost

Computer and software makers haven't started clamoring for hardware that accelerates artificial intelligence tasks in a personal computer, the chipmaker believes. But that'll change, and Intel expects to blend more AI circuitry into its products as it catches on. Intel already added some modest AI capability to its new Ice Lake laptop processors. One feature programmers can tap into, DLBoost, is designed to speed AI tasks like figuring out what's in a photo. Another, Gaussian Neural Accelerator, processes voice commands while a PC is in a low-power standby mode.

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Micron Announces 1TB Industrial microSD Aimed at Surveillance Markets

Micron just announced a QLC-basd 1TB industrial microSD, touting it as the first such 1TB microSDXC card for the enterprise. The product focuses on the surveillance camera market—Micron says it can "store more than three months of video footage," with video rates up to 1 Mbps.

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

 

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Software Updates

 

New Experian Credit Score May Improve Access to Credit for More than 40 Million Credit Invisibles

In a move designed to help credit invisible and thin-file consumers gain access to fair and affordable credit, Experian announced Experian Lift - a new suite of credit score products that combines exclusive traditional credit, alternative credit and trended data assets to create a more holistic picture of consumer creditworthiness. Experian Lift will be available for lenders in early 2020.

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Artificial Intelligence Transforming the Banking Sector

According to a recent study by IDC, by 2022, $5.6B is expected to be spent on AI-enabled solutions in the financial services industry. The author says that here’s how AI will transform banking in 2020: 1. Fraud Detection and Risk Management; 2. Credit Risk Assessment, Pricing, and Underwriting; 3. AI Chatbots; and 4. Customer Engagement.

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ATMs/Kiosks

 

ATM Attacks on the Rise as Fraudsters Head Back to the Branch

This article outlines the three main steps that fraudsters use to set up an ATM cash out theft. First, they gain access into a FI’s network through either collusive employees or simply ones that are phished into compliance. The next step is that fraudsters will identify legitimate accounts and increase their withdrawal limits to $1 million per day, which effectively makes the card limitless. The final step is to use a team of money mules in a number of countries that will simultaneously withdraw cash from various ATMs across the globe.

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Demand for Cash Remains Strong

After many years of growth, the total number of ATM cash withdrawals worldwide dropped by 3% to 95 billion in 2018, and is forecast to continue falling, according to RBR’s Global ATM Market and Forecasts to 2024 study. This global view masks how use of cash is evolving in many countries, however, with cash withdrawal levels expected to rise in over half of the 63 major markets surveyed by RBR.

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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:  

Enhanced Software Products (ESP)

ESP

and their client is:

Connections 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

 

Tight Wi-Fi Integration Is Key to Successful SD-Branch

The challenge of integrating Wi-Fi into SD-Branch is significant, in part because the use cases of Wi-Fi in branch offices varies widely depending on the type of business they support. Experts agree that SD-Branch platforms need to be able to support these varying Wi-Fi requirements. They need to: * Prioritize traffic for critical applications with end-to-end visibility; * Support multiple networks with logical network isolation; * Deliver network security such as firewalls with links to cloud-based security intelligence; and * Offer robust, centralized management, automation and network orchestration (MANO) platforms.

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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

 

How to Lock Down Enterprise Web Browsers

Browsers introduce insecurity and instability to the computing environment. Browsers are the operating system of cloud computing and protecting them will become more and more important. Actions to take to help secure browsers include disabling JavaScript in a browser or considering plug-ins and browser scanning tools to help you keep your user base safe. The article goes on to cover various ways to lock down browsers.

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Leaders Roundtable

Core Systems:

Core Systems as Multilayered Data Management Systems


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 Matt Baaki'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



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Technology and Marketing

 

What’s in a Digital Marketing Strategy?

More than half of marketers have a transformative initiative underway to make marketing more digital. But what exactly is a digital marketing strategy, especially versus a broader marketing strategy. What goes into it? What matters? There is no single answer, but the author lays out some digital marketing frameworks in this article in attempt to help answer these questions.

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How CUs Can Use Top Marketing Trends in 2020

This article highlights 4 marketing trends likely to stick around that you can take advantage of now: 1. Personalization; 2. Consumer Privacy; 3. Chatbots, AI and Messaging; and 4. Interactive Content.

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Online Banking/E-Commerce/Website Design

 

How Bill Pay Could Prove to Be a Tempting Target for the New Google Checking Accounts

Google is planning to launch checking accounts next year in partnership with FIs, starting with Citigroup and Stanford FCU. The accounts would be managed through Google Pay, the company’s 4-year-old mobile-payments app. For now, Google is “exploring” the full contours of what it calls “smart checking accounts.” But for some observers, bill pay is an obvious place to start.

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More Consumers Will Leave If Digital Offerings Don't Improve

The article states that FIs must improve mobile and online features beyond 'average' or they will lose many more accountholders to digital-only providers. New data show that people are poised to switch if they can be convinced that their money will remain as secure as it is now. For example, 30% of American consumers have considered changing FIs in the past year, according to Marqeta, and three quarters of them say they would consider a digital-only institution if they were to make a change.

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Internet Access

 

Rise of Cloud Services Has Credit Unions on Edge

Credit unions face several cybersecurity challenges in the cloud, such as trying to figure out how to implement micro-segmentation so workloads are not all on a single flat network that can all talk to one another, patch and vulnerability management in a shared-responsibility model, and how to implement data loss prevention solutions in cloud workloads. One expert suggested CUs need to perform static and dynamic code analysis of their applications running in their cloud service providers, and ensure their cloud providers perform regular penetration testing. Additionally, API security gateways should be used to interdict and inspect traffic going to and from API servers.

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SD-WAN as MPLS Replacement: Why the Internet Isn’t Enough

The public Internet poses unacceptable performance and security risks for SD-WAN deployments. This article covers what to look for in a private cloud backbone and how to migrate away from expensive MPLS services.

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DNS-over-HTTPS Will Eventually Roll out in All Major Browsers, Despite ISP Opposition

All six major browser vendors have plans to support DNS-over-HTTPS (or DoH), a protocol that encrypts DNS traffic and helps improve a user's privacy on the web. The DoH protocol has been one of the year's hot topics. It's a protocol that, when deployed inside a browser, allows the browser to hide DNS requests and responses inside regular-looking HTTPS traffic. This article looks at what we currently know about each browser vendor's plans regarding DoH, and how users could enable DoH in each respective browser.

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Call Centers

 

Google Makes Contact Center AI Generally Available

Google Cloud announced the general availability of Contact Center AI. The contact center software enables organizations to deploy virtual agents for basic interactions, and it offers an "agent assist" feature to transcribe calls, recommend workflows and provide other kinds of AI-driven assistance. Google also announced updates to Dialogflow, the development suite for building conversational interfaces such as chat bots and interactive voice responses (IVR).

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