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August 17, 2020

This Week's News is Sponsored by Better Branches ~



General News


OE Federal Credit Union Selects Symitar Platform

Symitar announced that OE Federal Credit Union (CA, $1.2B) has selected the Episys core platform, opting to host it in Jack Henry's private cloud environment.



Linn-Co FCU Successfully Completes Virtual Core Conversion with MDT

Linn-Co Federal Credit Union (OR, $140M) has successfully implemented the Episys core platform hosted by Member Driven Technologies (MDT), a CUSO that provides a private cloud alternative for core processing and IT needs. The credit union also implemented Jack Henry’s Banno Digital Platform through its partnership with MDT.



The Police Credit Union Selects NCR Digital Banking

The Police Credit Union, which serves California law enforcement members and their families, selected NCR to enhance its digital banking experience to help support the credit union’s recent expansion of membership availability to the entire state.





Hardware News


Will QLC SSDs Make Hard Drives Extinct?

In a bid to make solid state drives (SSDs) as capacious as traditional hard drives, storage suppliers have looked to insert ever more bits and bytes into NAND flash. Quad-level cell (QLC) drives are the latest development of flash storage technology. QLC promises huge capacity, but it comes with some major drawbacks - this article covers some of those drawbacks.



CIMA Introduces Its AST9000 Teller Cash Recycler

Cash Handling America has launched a high-capacity teller cash recycler, the AST9000, which accepts, authenticates, stores and dispenses banknotes through a high-capacity input/output/reject slot. The unit recycles cash via five cassettes and can recycle through a single or dual domination recycling cassette.



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


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Software Updates


Ericom Application Isolator Separates Corporate Apps from Unauthorized Users to Help Prevent Ransomware

Ericom Software announced the introduction of Ericom Application Isolator, a new solution that integrates with existing remote access VPNs and Next Generation Firewalls to help secure corporate applications and data from the security risks associated with excessive access rights inside a network. It cloaks applications from unauthorized users, helping to stop the spread of threats by making them invisible to would-be attackers.



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ATM Hackers Have Picked up Some Clever New Tricks

At the recent Black Hat and Defcon security conferences, researchers dug through recent evolutions in ATM hacking. Criminals have increasingly tuned their malware to manipulate even niche proprietary bank software to cash out ATMs, while still incorporating the best of the classics—including uncovering new remote attacks to target specific ATMs. This article delves into some of these new attack methods.



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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:  

Member Access Pacific


and their client is:

Connection 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


Verizon Offers 5G PC from Lenovo with New 5G Device Data Plan

Verizon is adding a new 5G device to its lineup, this time the world’s first 5G PC from Lenovo, with a new $30 per month 5G device data plan. Lenovo’s Flex 5G PC (known as the Yoga in other countries) supports millimeter wave and sub-6 GHz 5G connectivity. That means it can tap Verizon’s millimeter wave 5G network that currently uses 28 GHz spectrum, as well as supporting wide range of LTE bands, so users can fall back to 4G if a 5G signal isn’t available.



Wireless World Sponsored by
Member Access Pacific (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


Zero Trust Is Critical, but Very Underused

Most IT and security professionals think of zero trust as an important part of their cybersecurity approach, yet many still have a long way to go in implementing their plans, according a new report from microsegmentation platform Illumio. Nearly 50% of IT leaders polled said ZT was "critical" to organizational security and only 2% deemed it nonessential for their organization.



Mimecast Launches SAFE Phish

Mimecast announced SAFE Phish which is designed to let security teams create training exercises using real-life, de-weaponized campaigns that target their organizations and employees. Training results are engineered to be incorporated into the Mimecast SAFE Score dashboard, which is designed to aggregate data to gauge a company’s security posture.



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Technology and Marketing


Rethinking Office Space and Branch Strategies

A July survey conducted by J.D. Power found that only 9% of respondents said they conducted a transaction inside a branch in the past week, compared to 29% who used a drive-through, 29% who used mobile check deposit and 33% who used an ATM. Nearly one-fifth (18%) of respondents said that, after the crisis, they plan to use branches less than before, while 29% said they plan to use mobile more, and 24% said they'd hedge toward online banking. The article states that decisions to pare office and branch space will continue as FIs look to trim costs amid economic uncertainty. However, the article also points out the value of branches: an FI with 10 branches beats one with three every time, even if the two institutions were to run the same marketing campaign.



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Online Banking/E-Commerce/Website Design


Federal Reserve Announces Plan to Develop a New Real-Time Payment and Settlement Service

The Federal Reserve Board just announced that the Federal Reserve Banks will develop a new round-the-clock real-time payment and settlement service, called the FedNow Service, to support faster payments in the United States. The Federal Reserve believes faster payment services, which enable the near-instantaneous transfer of funds day and night, weekend and weekdays, have the potential to become widely used and to yield economic benefits for individuals and businesses by providing them with more flexibility to manage their money and make time-sensitive payments. The Board anticipates the FedNow Service will be available in 2023 or 2024.



Token- or Account-Based? a Digital Currency Can Be Both

Digital currencies, including potential central bank digital currencies (CBDC), have generated a lot of interest over the past decade, since the emergence of Bitcoin. The interest has only grown in recent months because of a desire for contactless payment methods, stemming from the coronavirus pandemic. An account-based system requires verifying the identity of the payer, while a token-based system requires verifying the validity of the object used to pay. However, this distinction is problematic because Bitcoin and many other digital currencies satisfy both definitions.



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Internet Access


SonicWall TZ: Desktop Firewalls with Multi-Gigabit Malware and Ransomware Protection

SonicWall announced new zero touch-enabled, multi-gigabit SonicWall TZ firewalls with SD-Branch capabilities, along with a redesigned cloud-native management console that helps streamline operations. The new SonicWall TZ570 and TZ670 next-generation firewalls are the first desktop firewall form factor to offer multi-gigabit (5/10G) interfaces for connectivity with SonicWall Switches or other networking devices in SD-Branch deployments.



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Call Centers


Make Contact Center Schedules More Flexible During Times of Turbulence

This article lays out 6 things that you might help you to meet the changing needs of both consumers and agents: 1. Split shifts; 2. Flexible break schedules; 3. Start and stop time flexibility; 4. Review voluntary time off, overtime, paid time off; 5. Weekend and other typically hard-to-cover shifts may now be sought-after ones; and 6. Take advantage of periods of downtime.