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Sharetec announced that Western Indiana Credit Union in Sullivan, IN has selected Sharetec to be their next core banking system. Since its establishment in 1993, Sharetec has grown steadily, welcoming over 50 new credit union clients in the past 3 years.
Xpress Data, Inc. (XDI), the only company in the nation specializing exclusively in the production and delivery of credit union notices, statements, and other event-driven member correspondence, announced that they have moved quickly to enact money saving procedures for processing mail pieces on behalf of their CU clients who send mail destined for certain foreign addresses. This change was rapidly put into place by XDI due to the fact that some countries have shut down their postal processing completely, while other countries cannot receive foreign mail due to suspended flight operations.
Hyland, a leading content services provider for organizations across the globe, released OnBase Foundation Enhancement Pack 3 and Content Composer Foundation EP1. Some of the developments within the latest version of OnBase Foundation include: Compliance enhancements; More integration options; UI enhancements; and New REST APIs.
With new EPYC 7Fx2 processors, AMD claims to offer the fastest per-core performance in the server space. AMD has the 64-core EPYC line. Intel, which currently tops out at 28 cores, has 38- and 48-core parts due later this year. AMD's three new processors, however, have rather modest core counts. The EPYC 7F32 has 8 cores, the EPYC 7F52 has 16 cores, and the EPYC 7F72 has 24 cores. But they also have a speed boost of up to 500Mhz over previous generation EPYCs, as well as greatly expanded L3 cache to unify the cores.
Dell Technologies announced that it will extend $9 billion in financing and 0% interest rates. In addition, customers can defer payments on commercial laptops, desktops, data center gear and services for up to 180 days under its Payment Flexibility Program.
Zoom has announced a slew of security enhancements in the upcoming launch of Zoom 5.0, due to be released very shortly. The update will bring 256-bit encryption to the platform along with a number of other security and privacy features designed to made video meetings more secure and less prone to 'Zoom-bombing'. Zoom 5.0 will bring both front- and back-end security enhancements to the video-conferencing tool.
Cloud infrastructure projects, communications equipment, and collaboration tools for remote work are most likely to survive the economic downturn, according to a small survey of IT directors. They said that plan to increase funding in these 3 areas: 1) Cybersecurity, specifically identity management, network connectivity, and endpoint security tools; 2) Big data and analytics to be able to react to unexpected opportunities and marketplace shifts; and 3) Cloud infrastructure that are scalable to meet demand spikes and minimize onsite staff at datacenter facilities.
ATM fleet operator Paramount Management Group said it has begun applying an antiviral shield to ATMs in an effort to combat the coronavirus. The film-like shield, produced by a company named ViaClean Technologies, lasts for up to 90 days. The system, called Bioprotectus, uses EPA-registered, FDA-compliant technologies that “disinfect and inhibit the growth and spread of problematic bacteria, fungi, algae, mold and viruses, as well as providing long-term antimicrobial protection for metal, plastic and textile surfaces.”
Mercator Advisory Group’s most recent consumer survey report, ATMs: No Fee for Me, finds that despite declining cash use, U.S. consumers still use ATMs for cash withdrawals, deposits, and other transactions. The report concludes that "much has been written about the decline of cash, but the survey results reported here demonstrate that the ATM still has a valuable function in many people’s lives."
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:
This article looks some of the latest mobile app development trends that might make it easier for people to access banking services. The author thinks that those 3 trends are: 1. Augmented Reality and Virtual Reality; 2. IoT (The Internet of Things); and 3. Blockchain technology.
Delta Community Credit Union, Georgia's largest credit union with more than $6.5 billion in assets, was recently recognized by MagnifyMoney for having the top-ranked mobile banking app in the nation. "Over the past five years use of our mobile app has increased 116%," said Bill Mesplay, Delta Community's SVP of Digital Banking.
The author posits that QR codes can be used to create a cashless payment infrastructure - quickly and inexpensively. He envisions a system that looks like this: Step 1 - The seller creates a QR code and shows it to the buyer. Step 2 - The buyer scans the QR code using their banking or finance application and clicks the "Pay" button. Step 3 - The monetary transfer is sent to the seller’s FI. Step 4 - The seller receives a payment confirmation and the payments system issues a receipt to the buyer. There are two types of QR code: static and dynamic, and both offer a reduction in commissions, which is very attractive to businesses.
The MAP App™ is the first network-branded prepaid card exclusively serving credit unions to offer mobile banking -
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A crucial framework for technology companies and cloud-based organizations, SOC 2 is both a technical audit and a requirement that comprehensive information security policies and procedures be written and followed. SOC 2 was developed by the American Institute of CPAs and designed specifically for service providers that store customer data in the cloud. The article goes on to list five tactical best practices for organizations wanting to achieve and/or maintain SOC 2 compliance.
Financial data is still in demand, but ransomware becomes the most popular way to try to cash in from compromised companies, according to Trustwave. Ransomware accounted for 18% of the compromises investigated by Trustwave in 2019, up from only 4% the previous year, while attacks that targeted financial data accounted for 17% of breaches, up from 1% the previous year, according to the firm. The previous two most targeted data types — chip-and-pin information and user credentials — fell to 14% and 13%.
This article states that poor digital sales are the result of weak content. To engage consumers and prospects in the digital-first landscape, generate opportunities, and convert opportunities to revenue, the authors recommend a Three-Step Plan: 1. Evaluate and improve the messaging; 2. Get to know the content ecosystem; and 3. Get the content talent necessary to be a content leader inside the institution – now.
For credit unions, it’s important to keep communication flowing regularly and across multiple channels to help keep your employees, members, vendors, and community informed on ever-changing developments. The author suggets that setting up a recurring communications plan across your available digital channels can go a long way to help answer questions, support your employees and members, and give leadership an opportunity to provide updates.
Consumers appeared to be dialing back on using their credit cards, but debit card spending may be regaining some ground, according to the latest weekly snapshot of card spending from PSCU. Signs that some consumers are shifting from credit to debit were present in the latest data on card spending at grocery stores and drug stores.
From sharing consumer data to smart payments, a number of central banks around the world are turning to blockchain technology to make markets easier for new entrants and to improve processes in everything from payments to regulatory authorizations. This article takes a worldwide tour of blockchain developments.
Automated programs designed to replicate human behavior, bots run the gamut from relatively benign to hostile and malicious. In its research, Imperva found that traffic from bad bots accounted for about one-quarter (24%) of all website traffic in 2019, a jump of 18% from the prior year. Advanced persistent bots (APBs) compromised almost three-quarters of all bad bot traffic. These APBs try to evade detection by cycling through random IP addresses, using anonymous proxies, and changing their identities.
Cisco and Google are teaming up to develop an application-centric, multi-cloud network fabric, which the companies say will allow customers to extend SD-WAN orchestration and management to the cloud. Using Cisco SD-WAN Cloud Hub with Google Cloud, the two companies aim to provide customers with a way to apply consistent service level agreements, security policies, and compliance data to applications and enterprise networks.
Google has made available BeyondCorp Remote Access, a cloud-based, zero trust service that allows employees, contractors and partners to securely access specific corporate resources from untrusted networks without having to use the company’s VPN. Access to web apps and services is granted (or not) based on user identity, device identity, device security, location, and other metadata and signals collected through the browser or an endpoint agent that is installed on the user’s device (if the customer mandates it).
For all of its dominance, Amazon has strong competitors. Companies like Microsoft, Google, IBM, Oracle, SAP, Rackspace, Linnode, and Digital Ocean know that they must establish a real presence in the cloud and they are finding clever ways to compete and excel in what is less and less a commodity business. Yet the author maintains that Amazon continues to outshine them all in many ways.
The limits on in-branch banking have created huge backlogs at telephone banking centers, as accountholders have struggled to complete many in-branch transactions, while also using the contact centers to negotiate delays in loan and credit card payments as well as a way to obtain information on federal stimulus payments. One anlyst said that he expects COVID-19 to have a lasting impact on the branch banking model and that industry use of call centers will become a long-term fixture well beyond the life of the pandemic.
Westpac's latest AI recruit, Wendy, is capable of recognizing and responding to callers' emotions as they video chat onscreen through the webcam. Smile at Wendy through your webcam, she’ll smile back. If you look confused, you can see her empathize. And shift around in front of your laptop, her eyes follow you as she listens and answers your questions. Wendy’s ability to “think” is powered by IBM Watson’s AI conversation engine, her “listening” and 'speaking' skills use Google Cloud Services, and her lifelike, perceptive appearance is created by start-up Soul Machines.