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February 24, 2020

This Week's News is Sponsored by Better Branches ~

BB

 

General News

 

Mississippi DHS FCU Partners with Sharetec

Sharetec System announced that Mississippi DHS Federal Credit Union, located in Jackson, MS, has selected Sharetec as their next core banking software. The CU noted that the ability to serve all of their members in Mississippi’s 82 counties on an electronic basis was a key factor in selecting Sharetec.

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AdvantEdge Analytics Launches Enhanced Platform

CUNA Mutual Group’s analytics firm AdvantEdge Analytics announced the launch of its Version 2.0 enhanced cloud-native analytics platform. They state that their distinction is their credit union persona-driven business value and strategy-first approach to analytics.

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Hardware News

 

Dell Intros New Micro-Data Center and Server

Dell has introduced a batch of new hardware and software to make it easier for organizations to build and manage edge data centers. They announced a new micro data center that’s about the size of a refrigerator, and a new small-footprint server: the Dell EMC PowerEdge XE2420 which is a compact, two-socket server with the ability to add up to four accelerators and 92TB of storage to meet analytics and other business application needs.

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

 

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Software Updates

 

Mass Adoption of AI in Financial Services Expected Within Two Years

Information collected as part of a survey on AI in Financial Services conducted by the World Economic Forum shows that a significant number of executives say that within the next two years they expect to become mass adopters of AI and expect AI to become an essential business driver across the financial industry. This article highlights 7 key insights from the survey.

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Best Video Conferencing Software for Business in 2020: Zoom, WebEx, AnyMeeting, Slack, and More

The authors have assembled the leading conferencing software platforms, all capable of providing high-quality video and full-featured collaboration tools. While many of these video conferencing platforms also offer live streaming and webinar capabilities, their focus here is primarily on virtual meetings. In all, 10 systems are reviewed with pricing as well.

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ATMs/Kiosks

 

KAL Enters Partnership with Burroughs on ATM Software Solutions

Burroughs, an ATM service provider, has entered a partnership with KAL to provide hardware-agnostic software solutions as an alternative to existing OEM options. The company will make the Kalignite Hypervisor available by the second quarter.

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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:  

smartsolution

smartsolution

and their client is:

Member Savings 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

 

5G Security Is a Mess. Could Digital Certificates Help?

5G inherited security vulnerabilities from earlier mobile technology, but digital certificates might solve the issue of unauthenticated messages. Digital certificates can provide a way to cryptographically verify that mobile devices are indeed talking with a base station. These certificates could also help screen out sites from undesirable sources or locations.

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Advancing Mobile Banking Security with GPS

Using mobile GPS data as an added level of security allows FIs or other payment providers to use the geolocation information gained from the app to determine whether a transaction aligns with the location of the individual’s mobile. If not, it can act quickly in response to the possibility that a fraudulent transaction is underway. Gartner has predicted that location or profile information derived from mobile devices eventually could be used to validate and detect fraud on 90% of mobile transactions.

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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

 

FBI Recommends Passphrases over Password Complexity

Longer passwords, even consisting of simpler words or constructs, are better than short passwords with special characters, according to the FBI. They argue for at least 15 characters because they believe that the extra length of a passphrase makes it harder to crack while also making it easier for you to remember.

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12 Hottest New Cybersecurity Startups at RSA 2020

Cybersecurity startup companies often use the RSA Conference to make their public debut and showcase their products. Here are twelve of the more interesting startups coming out of stealth: 1. Blu Bracket; 2. BotRx; 3. Concentric; 4. Cyber Armor; 5. CyCognito; 6. Dasera; 7. Gold Comet; 8. LevelOps; 9. LUMU; 10. OutThink; 11. Soluble; and 12. Zero Networks.

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Technology and Marketing

 

The 4 Things That Matter Most to Consumers in Selecting a New FI

New research quantifies what causes people to open up checking accounts, and what FIs need to do to attract them. 4 key takeaways for financial marketers are: 1. Don’t give up on branches; 2. Consumers hate fees, especially for ATMs; 3. Don’t oversell deposit rates; and 4. Make it easy to solve problems.

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Online Banking/E-Commerce/Website Design

 

Checks’ Last Bastions Include Older Consumers, Businesses, and Bill Payments

The decline of checks over recent decades is a well-known story, but there were still 14.5 billion check payments in 2018, according to Federal Reserve research. According to a newer study, businesses write the majority of checks, but consumers used them for 7% of all transactions in the past two years - they average about three checks per month. Checks had a relatively high average dollar value compared to transactions using other payment instruments, around $300 versus $84 for other transactions. Of checks not used to pay bills, 7% were written to pay another person (P2P), 12% were charitable or religious donations, and 6% were to grocery stores and gas stations.

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The Benefits of Interactive Video for FIs

According to The Financial Brand, 64 percent of branches point to increased branch visitor satisfaction with video banking services, and 62 percent have experienced reduced branch workload. While the most obvious application of two-way video banking leverages existing mobile applications and financial websites, work is also underway to integrate two-way video with ATMs. The article goes on to cover three potential video pitfalls.

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Internet Access

 

44% of Security Threats Start in the Cloud

Cloud-enabled cyberattacks are ramping up, as indicated in a new Netskope study that found 44% of security threats use cloud services in various stages of the kill chain. Attackers are targeting popular cloud apps and services to exploit the growing trust in commonly used enterprise platforms. Microsoft Office 365 for Business, Box, Google Drive, Microsoft Azure, and GitHub are the most-targeted cloud apps, plus Amazon Web Services (AWS) is a hot target for cloud storage apps.

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Call Centers

 

The Future of Contact Centers, as Shaped by Current Trends

This article looks at four factors that will shape future contact centers: 1) Changing demographics; 2) Valuing employee experience; 3) Artificial intelligence has become table stakes; and 4) A need for new metrics.

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