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Your source for the latest technology information of interest to credit unions across America.

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November 23, 2020

This Week's News is Sponsored by Better Branches ~

BB

 

General News

 

Georgia United CU Migrates Symitar Core to the Cloud

Symitar announced that Georgia United CU has moved its Episys core platform to Jack Henry's private cloud environment. The $1.6 billion CU operated with an in-house processing environment with Jack Henry for decades. Its decision to transition to a private cloud infrastructure was based largely on the level of oversight and efficiency that Jack Henry provides.

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Next Generation Version of IMM eSign Released

IMM announced that new versions of IMM eSign and IMM eSign Plus are now available. New features and advanced functionality contained in the platforms help further simplify and streamline eSignature processes.

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Hardware News

 

VMware Stuffs Security into SmartNICs

VMware plans to run its distributed firewalls in smartNICs in a move that will allow organizations to attach security to sensitive applications. It’s a collaboration with chipmakers including Intel and Nvidia that uses VMware software to provide a consistent management platform for distributed compute across multiple hardware accelerators using smartNICs. Offloading virtualization and security functions to the smartNICs free up CPU cycles to run applications, which translates to data center cost savings.

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Microsoft's New Security Chip Takes PC Protection to a Higher Level

The Pluton security processor's 'chip-to-cloud' security was pioneered on the Xbox One and in Azure Sphere, and is now coming to SoCs from AMD, Intel and Qualcomm. Windows will store encryption keys for credentials, user identities, encryption keys and personal data in Pluton, where it's safe from speculative execution attacks. What Microsoft calls Secure Hardware Cryptography Key (SHACK) technology means keys are never exposed, even to the Pluton firmware.

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

 

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Software Updates

 

The Core Banking Transition Path Is Being Paved

A new generation of modern core banking technology providers are surfacing, and the author contends that by adopting these cloud native systems, FIs can now move away from tiresome upgrade cycles and integration burdens. While this new generation of core applications is a popular topic in the market, few FIs have adopted it. The author explains that different strategies are available but badly executed core banking transitions can easily result in downtime, which is disastrous for the number one asset of any FI: Trust.

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Open Raven Launches Cloud-Native Data Protection Platform

Open Raven has launched the Open Raven Cloud-Native Data Protection Platform to operationalize data security and privacy in the cloud. To help prevent data breaches, it automates asset discovery and data classification, provides real-time mapping and policy-driven protection for Amazon Web Services and S3.

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ATMs/Kiosks

 

Will Digital Currency Replace Cash in the Long-Term?

Deutsche Bank Research states that the ongoing COVID-19 pandemic has accelerated the "digital cash revolution." They are calling on national governments and private companies to work on alternatives to credit cards. They predict that "in the long term, central bank digital currencies will replace cash."

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How Diebold Nixdorf Helping Truliant FCU Optimize Its ATM Fleet

In this video interview, Octavio Marquez, SVP and Managing Director of Global Banking at Diebold Nixdorf, shares how they helped Truliant FCU optimize its ATM fleet.

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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:  

Enhanced Software Products (ESP)

ESP

and their client is:

All City 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 Doesn’t Matter

The author claims that "there is no realistic use of 5G now or in the immediate future for credit unions." He states that 5G is all about moving data more efficiently, and that at your credit union, your focus needs to be on managing all your data more efficiently.

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Google Pay’s Massive Relaunch Makes It an All-Encompassing Money App

Google Pay for both Android and iOS is relaunching with a giant array of new features. The new version of the app will have three new tabs: “Pay,” which includes peer-to-peer payments as well as your transaction history using tap-to-pay; “Explore,” which will be a place where Google will offer deals and discounts; and finally, “Insights,” which will allow you to connect your accounts to get a searchable overview of your finances.

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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

 

Visa Pilots Card-Not-Present Security App with Michigan State University FCU

Visa has partnered with Keyno to pilot a mobile app-enabled dynamic card security system at Michigan State University FCU. The pilot leverages Keyno’s CVVkey technology that uses a dynamic card verification value 2 (CVV2) code to provide a higher level of security against fraud for online and mobile in-app card not present transactions. A CVV2 is normally a static code printed on the back of a payment card for card-not-present authentication. MSUFCU credit cardholders will be able to obtain a dynamic CVV2 code by downloading a separate white label app from Keyno. The dynamic CVV2 is automatically updated every six hours.

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Security Teams Struggle to Assist Remote Workers

Since the beginning of COVID-19, nearly 75% of organizations have seen an increase in support tickets from remote workers, with 46% reporting a moderate increase and 29% reporting a large increase in workload, according to a NetMotion survey. While 66% of remote workers reported encountering an IT issue while working remotely, many are not sharing their issues with IT. In fact, 58% of remote workers said that they had encountered IT issues while working remotely but did not share them with their IT team, and of the issues they reported to IT, only 46% were actually resolved.

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Leaders Roundtable

Core Systems:

Integrating Digital, Payments and the Core


Celent - http://www.celent.com
Read Stephen Greer's comments:
https://www.cunews.com/Celent.pdf

Enhanced Software Products - https://www.espsolution.net
Read Matt Lefler's comments:
https://www.cunews.com/ESP.pdf

Member Driven Technologies - http://www.mdtmi.com
Read Gary Lee's comments:
https://www.cunews.com/MDT.pdf

Share One - http://www.shareone.com
Read Teri Van Frank's comments:
https://www.cunews.com/ShareOne.pdf

Sharetec - http://www.sharetec.com
Read Sharetec Partners' comments:
https://www.cunews.com/Sharetec.pdf

Symitar - http://www.symitar.com
Read Shanon McLachlan's comments:
https://www.cunews.com/Symitar.pdf


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Technology and Marketing

 

A DEI Roadmap for Smaller FIs

The financial services industry has long known it must become more diverse, and now it appears that many FIs are working to become more equitable and inclusive when it comes to race, gender, sexual orientation and other factors. The article recommends that any DEI strategy include 3 items: 1) Get buy-in from the top; 2) Tap existing resources; and 3) Rethink recruiting.

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Online Banking/E-Commerce/Website Design

 

Mastercard Moves to Bring Real-Time Account-to-Account Transfers to B2B Payments

Mastercard is adding account-to-account (A2A) payments functionality to its Track Business Payment Service. The new capability, which is rolling out in the United States and will be available globally by year-end 2021, allows companies to facilitate business-to-business payments across multiple payment rails, including real time payments and the ACH, as well as exchange data. Cross-border payments are on the roadmap for next year, Mastercard says.

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This New Microsoft Technology Will Make Your Web Apps Run a Lot Faster

The Fluid Framework that Microsoft open-sourced earlier this year for creating collaborative distributed applications on Microsoft 365 has "a hyper-fast and performant cloud platform that has AI built into it", according to Microsoft. If Fluid is the future of the back end for web apps, Project Nucleus is Microsoft's bet for improving the performance and reliability of those web apps. This article goes into a deeper dive on Nucleus and Progressive Web Apps (PWAs) which are a very lightweight way of distributing apps.

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Internet Access

 

SD-WAN Needs a Dose of AIOps to Deliver Automation

Software-defined WAN (SD-WAN) is getting a big boost from AIOps as vendors look to simplify operations, lower costs, and optimize WAN performance in the modern cloud era. SD-WAN decouples the control aspect of a network from the hardware to create a virtualized network overlay, while AIOps applies machine learning and data analytics to IT operations to automate processes. The convergence of the two – a.k.a. AI-driven WAN – promises to usher in a new era of WAN networking that enables IT to go beyond optimizing network and application experiences to delivering the best experiences to individual users.

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"Set It and Forget It" Is the Wrong Approach for Cloud Strategy

A new report entitled "Cloud Report: What Businesses Need for Resilience in 2021 and Beyond" states that IT professionals need to refine cloud plans on a regular basis to make sure strategies are not stuck in neutral or falling behind the times. It recommends that IT teams come up with a consistent process for evaluating new cloud capabilities to determine whether the new function can provide a competitive advantage, save money, or improve efficiency.

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Call Centers

 

Using a Virtual Assistant as the Core of a Digital-First Strategy

Many FIs are developing a "digital first" strategy, but Belgian bank KBC says it is moving from an omnichannel to digital-first distribution model, while putting a new AI-powered customer assistant at the center of its strategy. This virtual assistant, called Kate, can answer queries through the KBC app, as well as provide proactive, personalized and relevant advice and sales offers.

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