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Symitar announced that Texans Credit Union has selected the Episys core in Jack Henry's private cloud environment. The $1.7 billion-asset credit union said that it decided to change core providers to improve its member services while increasing efficiencies.
Pure IT Credit Union Services and Arkatechture have partnered together to help strengthen credit unions with advanced Business Intelligence (BI) technology. The two groups said that their new partnership between data experts and a CUSO combines enterprise technology with credit union expert strategists.
Dell is working to redesign every part of its products so that they can be recycled or reused rather than thrown out. By the end of the decade, for each product that it sells the company also aims to recycle or reuse an equivalent product. The company is also focusing on how to make products last far longer. Outer materials may be designed differently to resist signs of wear (or to acquire a patina over time, like vintage tools). Inside, artificial intelligence and machine learning could help the system last longer by making adjustments over time for energy efficiency.
The newly introduced Thales Gemalto intelligent ID card reader marks the first reader designed for inspecting both sides of an ID document simultaneously in the cloud. The solution meets COVID-19 hygiene recommendations by providing contact-free ID verification for end users and operators. The reader can examine ID cards or drivers licenses in the cloud in less than four seconds.
Early use cases for AI in financial services have been focused on chat bots, RPA, as well as fraud and risk management. Other potential use cases for AI (some of which are already being trialled) include: Offering financial advice or portfolio management; Reimaging the mortgage application and servicing paradigm; Preventing cyber attacks; and Real time transaction monitoring.
Microsoft has introduced the concept of Windows Feature Experience Packs as a way to increase the number of times during a year when customers receive new features. The idea behind the feature packs is to ship "features and experiences" using a mechanism outside the two-a-year feature upgrade cycle already established for Windows 10. Such features and functionalities could be installed independently of the OS because they were developed to be independent of the operating system, as, for example, is the Edge browser.
GTK has launched a touchless user interface for original equipment manufacturers. The interface requires no direct physical contact by the end user. Partnering with TouchNetix on this project, GTK is using the aXiom IC developed by TouchNetix that uses sensors to detect a user's hand inches away from the screen. The touchscreens can be used intuitively by holding a finger away from the screen and using gestures commonly used with traditional touchscreens, such as tapping, flicking and swiping.
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:
Two-thirds of adults say they would have more trust in their FI if it offered a mobile-based biometric authentication solution for in-person or phone-based transactions, according to a survey offered by a company that offers just such a solution. The survey, conducted in conjunction with the Filene Research Institute by MemberPass, found 51% of bank customers, 68% of credit union members and 82% of those with accounts at both types of institutions reported changing their preferred contact methods due to the pandemic.
More than half of organizations (nearly 58%) surveyed have adopted 5G to remain competitive and another 56% plan to do so in the next 12 to 18 months, according to a survey by AT&T Cybersecurity. In terms of 5G use cases, nearly 36% cited improvements to Internet of Things (IoT), followed by data privacy (32%), and broader network coverage (nearly 29%). The Cybersecurity Insights Report claims that "standalone 5G is more secure than any previous network generation."
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This article highlights 10 cybersecurity products making waves in the market: 1) Check Point Infinity SOC; 2) Cisco SecureX; 3) CrowdStrike Endpoint Recovery Services; 4) Cybereason XDR; 5) FireEye Mandiant Advantage: Threat Intelligence; 6) Fortinet FortiGate Rugged 60F; 7) McAfee MVision XDR; 8) Palo Alto Networks CN-Series; 9) Sophos Intercept X For Mobile; and 10) Tanium Risk.
Bells and whistles are great, but you can stay safer by focusing on correct configurations, posture management, visibility, and patching. This is according to Avi Shua who has more than 25 years of experience in cybersecurity. Simply put he says, good IT hygiene dramatically reduces risk more than quasi-advanced silver-bullet solutions.
Integrating Digital, Payments and the Core
Technology and Marketing
Michael Moebs, economist and CEO at Moebs $ervices, said that with vaccines and therapeutic drugs close to Americans’ doorsteps, consumers and businesses will begin rethinking the $3.4 trillion they have deposited in banks, credit unions and savings banks. He goes on to discuss the the three ‘S’ rule (spend, save and shift funds) and his thoughts on retaining deposits.
The author recommends these 4 time management tips that he says will make it easier for small organizations to effectively manage their social media: 1) Create an editorial calendar; 2) Use social media management tools; 3) Track performance with data; and 4) Work with community volunteers.
The latest Global Insights Report, released in late 2020, found that there has been a 20 percent increase overall in consumer online transaction activities and a 40 percent increase in applying for loans online. It also found that one out of three consumers are willing to wait no more than 30 seconds before abandoning an online transaction, especially when accessing important accounts. The report recommends investing in these 3 types of solutions in 2021: 1) Automated decision management; 2) Cloud-based applications; and 3) Artificial Intelligence.
Per PYMNTS’ December 2020 Digital Identity Tracker, “video-based KYC enables FIs to safely onboard customers in a convenient, contactless way while the pandemic requires social distancing. Another key advantage is that video ID can reduce verification time from days to minutes.”
Aryaka Networks launched a new managed VPN targeted at the growing remote workforce market that is built on SD-WAN and secure access service edge (SASE) principles. The Aryaka SmartSecure Private Access platform uses a global point of presence (PoP)-based service architecture that includes WAN optimization to act as what the vendor said is a “cloud-first WAN.” The vendor claims that the fully managed aspect of their network allows for easier deployment and a lower total cost of ownership.
Cato Networks is now offering a cloud API to provision and manage their Cato SASE deployments from third-party platforms. The Cato Cloud AP automatically provisions new sites and policies while also monitoring Cato's network analytics and security events from security information and event managements (SIEMs) software and third-party applications. The API taps into GraphQL and interfaces to Cato's cloud. Cato said its new API replaces hundreds of third-party API calls with a single Cato Cloud request.
FIs need to invest more in developing digital personalities to avoid losing trust and relevance among consumers, according to a new report by consulting firm Accenture. They conclude that FIs may lose the opportunity to build efficient, empathetic, funny chatbots because tech giants like Google will offer something better and bundle it with their forays into checking accounts.