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August 31, 2020

This Week's News is Sponsored by Better Branches ~

BB

 

General News

 

1st United Credit Union Builds Relationship with Jack Henry

Symitar announced that California-based 1st United Credit Union has selected Episys as well as the Banno Digital Platform. The $1.2 billion-asset credit union will run its core through Jack Henry's private cloud environment.

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Shell FCU Selects Lumin Digital for Digital Banking

Shell FCU has signed a multi-year contract with Lumin Digital, a PSCU company, to use the company’s cloud-based platform as the credit union’s digital banking solution. Shell FCU will have more than 70,000 active users when the CU launches on the platform, which is slated for February 2021.

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Hardware News

 

BackupAssist Offers Automated Disk to Disk Backup Solution

BackupAssist announced the general availability launch of BackupAssist ER which is a fully automated, disk to disk to cloud backup for Windows Servers. BackupAssist ER helps provide automatic geo-redundancy of backup data and CryptoSafeGuard features to shield the backups from ransomware.

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

 

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Software Updates

 

AI Fights Fraud

40% of financial services firms have seen an increase in fraudulent activity since the pandemic started, according to a LIMRA survey. The author states that there are three ways AI technology helps FIs with fraud detection: 1. Maintains User Trust; 2. Processes Data for Anti-Money Laundering; and 3. Aids Compliance Operations for Risk Prevention.

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This Office 365 Feature Update Lets You Open Attachments Without Fear of Malware

Application Guard offers additional protections for enterprises using Word, Excel, and PowerPoint for Microsoft 365 and Windows 10 Enterprise. Microsoft argues that Application Guard for Office or Microsoft Defender Application Guard for Office "helps prevent untrusted files from accessing trusted resources, keeping your enterprise safe from new and emerging attacks".

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ATMs/Kiosks

 

As COVID-19 Favors Drive-up Banking, Renovations Should Include ITMs

The author argues that FIs should think about upgrading those drive-up ATMs to ITMs — interactive teller machines — with teller-access capability. He says that that the greatest usage is in the drive-up lane - users like them for the extended hours access to ATM-style service plus live teller functionality. Finally, he adds that the incremental cost of ITMs over deposit-taking ATMs is relatively modest.

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Diebold, NCR Combat ATM Deposit Fraud, Deploy Software Updates

Diebold Nixdorf and NCR are deploying software updates for ATMs impacted by deposit forgery. The forgery occurred when fraudsters with physical access to an ATM machine tampered with internal software, modifying the amount of funds deposited and then withdrawing the non-existent cash before FIs could detect errors in the account balance. The bugs were in Diebold Nixdorf's ProCash 2100xe USB ATMs running Wincor Probase software and NCR's SelfServ ATM running APTRA XFS software.

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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

MAP

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

 

Mastercard Targets Touchless Economy

Mastercard has unveiled AI-powered technology designed to enable touchless shopping. The payments giant is working with AI and computer vision technology partner Accel Robotics on its Shop Anywhere platform, which promises to improve the speed of the shopper journey by eliminating points of friction through robust inventory and participating shopper analytics - offering consumers no wait, no checkout lines, and secure payments.

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Industry Shifts Focus to Touchless Experiences

The U.S. Payments Forum recently released its latest Market Snapshot providing a look at the state of the industry. It found that the payments industry has prioritized the touchless customer experience. One of the major parts of this shift has been accelerated contactless adoption. Visa reported that contactless usage in the U.S. has grown 150% since March 2019. This adoption comes alongside a change in consumer beliefs, with 50% of respondents to a recent American Express survey agreeing that contactless payments are safer for personal health than paying with cash or inserting a card.

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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

 

Microsoft Says the Pandemic Has Changed the Future of Cybersecurity in These 5 Ways

A new report from Microsoft suggests that cloud-based technologies and Zero Trust architecture will become mainstays of businesses' cybersecurity investments going forward. This article covers five ways COVID-19 is shaping the future of the industry, according to Microsoft.

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Technology and Marketing

 

Targeted Marketing and Fair Lending Concerns

This blog offers a refresher on some of the major fair lending laws. It also points to a useful resource: the FFIEC’s Interagency Fair Lending Examination Procedures.

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How to Successfully Implement a Digital Solution

The authors lay out three strategic planning steps that will put FIs on a course for a best practice digital implementation: 1. Create a Detailed Roadmap; 2. Develop a Comprehensive Test Strategy and Plan; and 3. Understand How Your Third-Party Vendors Integrate.

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Online Banking/E-Commerce/Website Design

 

Visa Uses AI to Reduce Declined Transactions During Service Outages

Visa is using real-time AI to help FIs manage transaction authorizations during service outages and disruptions. The Visa Smarter Stand-in Processing (Smarter STIP) uses deep learning to analyze past transactions before generating decisions to approve or decline transactions on behalf of issuers if their systems go offline.

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Internet Access

 

5 Critical Cloud Security Challenges and How to Overcome Them

The author contends that cloud security is achievable as long as you understand, anticipate and address the most significant challenges posed by migration and operation. He goes on to highlight the five most pressing cloud security challenges faced by modern organizations.

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Call Centers

 

"Gender-Neutral" Chatbot

BBVA has kicked against the trend to assign female voices to artificial intelligence assistants with the launch of Blue, a gender-neutral chatbot trained to answer user's everyday banking queries. While Blue never tries to pass itself off as a human, neither does it totally identify itself as a robot.

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