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October 19, 2020

This Week's News is Sponsored by Better Branches ~

BB

 

General News

 

Cooperative Teachers CU Partners with Corelation

After using the same core system for more than 40 years, Cooperative Teachers Credit Union ($114 million assets; 6,200 members; Tyler, TX) has picked a new system: KeyStone from Corelation. CTCU is scheduled to convert in April 2021.

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FIS to Offer Subscription Model for Core Banking

FIS has adopted a new subscription model called ClearEdge. This option offers a flat-fee, month-to-month subscription model that doesn’t require lengthy terms and eliminates liquidated damages and exclusivity requirements.

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Hardware News

 

Intel's Ice Lake Beefs up CPU Security for the Cloud

Intel's third-generation Xeon processors build in hardware security features to help provide extra protection to data in transit, at rest, and in use. The latest Intel mainstream processor for servers, code-named Ice Lake, offers a variety of hardware security capabilities, including a capability for creating up to 1TB protected data stores and a reduced attack surface area.

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Philippe Starck Unveils Payments Ring

Design guru Philippe Starck has crafted a smart ring that stores payments cards, transit passes and business cards for the style-conscious consumer. The ring does not require charging and includes security technology from NXP, incorporating data encryption and a deactivation system to guard against theft. They are also developing additional features for the ring in the realms of access control, loyalty programs and parking payments, and the new features will automatically be uploaded to the ring on release.

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

 

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Software Updates

 

Microsoft's Key New Security Feature Helps to Protect Your Information

Data loss prevention (DLP) has been in Exchange for a long time, in the form of rules that ensure employees don't send out confidential or personal information via email. Over the years, Microsoft has extended DLP to more of Office (although the name for that is Microsoft Information Protection, or MIP), covering Exchange, SharePoint, Teams, OneDrive for Business and Office apps like Word, PowerPoint, Excel and Outlook, as well as third-party applications that incorporate the MIP SDK. Now it's integrated into Windows 10 (build 1809 and later) and the new Edge browser (version 85 and later), without needing an additional agent.

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Windows 10 Will Start Blocking Drivers If It Can't Verify Software Publisher

With the recent Patch Tuesday security update, Microsoft has flagged a change in the way Windows verifies driver software that could spur a rise in driver errors for Windows 10 users. The errors will happen if Windows can't verify the publisher of the driver software or if the driver lacks a signature. If Windows 10 users encounter these driver error messages, Microsoft recommends users to contact the driver vendor or device manufacturer (OEM) and ask them for an updated driver to correct the issue.

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ATMs/Kiosks

 

ATMIA Deplores ‘Fearmongering’ in Press Coverage of Covid Risk at ATMs

With ATM transaction volumes in branches returning to near pre-Covid-19 levels, the ATM Industry Association issued a statement decrying media coverage regarding the risk of infection from ATM use. They were especially concerned with the headline: ‘Coronavirus May Stay for Weeks on Banknotes and Touchscreens.’ ATMIA counters that this research was literally carried out in the dark, because virus samples were not subject to any light, and were kept on the surfaces in a highly controlled laboratory setting. They point out that the researchers admitted that SARS-CoV-2 has been shown to be rapidly inactivated under simulated sunlight.

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Ultraleap Introduces Touch-Free, Gesture Recognition Retrofit for Kiosks

Ultraleap has introduced its TouchFree application to enable organizations to retrofit existing kiosks and touchscreens. Using Ultraleap's camera module and hand tracking software alongside the application, touchless gesture control can be added to any screen to create a hygienic alternative. TouchFree provides touchscreen emulation by detecting a user's hand in mid-air, converting it to an on-screen cursor, and supporting interaction methods that users are familiar with.

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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:  

Verint Systems

Verint

and their client is:

American Eagle Federal 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

 

Using Mobile Feeds to Deliver Personalized Experiences

To address both inbound and outbound engagement gaps, many FIs are turning to mobile feeds. When combined with email campaigns and general awareness messaging, personalized feeds drive 10 times higher customer engagement, and therefore traffic to comprehensive online resource centers – COVID-related, or otherwise, according to this article.

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AT&T, T-Mobile, Verizon and More Form Alliance for 6G Leadership

5G networks may be in the early days, but a new group made up of some of the biggest names in wireless and tech have joined to form ATIS’s "Next G Alliance" aimed at leading in 6G and beyond. The alliance is initially focused on three strategic actions that are broadly laid out as follows: 1) Create a 6G national roadmap; 2) Align the North American technology industry on a core set of priorities that will steer leadership for 6G and beyond; and 3) Identify and define early steps and strategies to help and lead to rapid commercialization and promote widescale adoption.

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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

 

Growing Threat of Real Estate Wire Fraud

This article documents one family’s nightmare involving real estate wire fraud. In this growing scheme, hackers infiltrate legitimate email conversations and send fake wiring instructions. The FBI says the crime is on the rise and criminals have set their sights on high end homes and expensive markets. According to the FBI, consumers have lost more than $220 million in schemes like this thus far in 2020, a 13% increase from the same period last year.

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Treasury Dept. Advisory Shines Spotlight on Ransomware Negotiators

Some companies have begun offering services to help reduce ransom demands, buy more time, and arrange payments. However, this emerging ransomware negotiator industry has come into the spotlight recently following an advisory from the US Department of the Treasury for companies that facilitate ransom payments to threat actors on behalf of victims. The advisory, from the department's Office of Foreign Assets Control (OFAC), warned of potential regulatory trouble that such organizations could face if ransom payments ended up in the hands of adversaries on OFAC's Specially Designated Nationals and Blocked Persons List (SDN).

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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

 

6 Ways CUs Can Attract Gen Z During Coronavirus

Between the ages of 10 and 24, most Gen Zers have not yet had the opportunity to build an emergency fund, invest in a retirement plan or gain full-time employment. This article looks at 6 ways to help attract Gen Z as they come of age and enter adulthood during a crisis: 1) Offer low-interest student loans; 2) Provide high-interest checking and savings accounts; 3) Make personal loan standards more accessible; 4) Offer financial guidance that validates their fears; 5) Lead with digital banking; and 6) Embrace diverse representation.

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5 Bank and Fintech Partnership Ideas to Generate Revenue

The author posits that FIs need new sources of non-interest income and fintech startups need to start generating revenue, and therefore FI/fintech partnerships are a win/win scenario. He offers five potential partnership ideas for FIs to consider: 1) Bill Negotiation Services; 2) Subscription Management; 3) Data Breach and Identity Protection Services; 4) Wealth Transfer Management and 5) Cryptocurrency Investing.

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Online Banking/E-Commerce/Website Design

 

A Pilot Is Coming for FedNow, but Some Question the Fed’s Deliberate Pace

The recent announcement from the Federal Reserve of a pilot for the FedNow real-time payments service may represent an important stage in the development of a service not expected to go live until 2023 at the earliest. But observers caution rival services have already made headway with key market participants. The pilot, for which the Fed will be soliciting participants over the next few weeks, will consist of three phases: advisory, testing, and closed-loop production. Further details, such as a start and end date for the pilot, were not immediately available.

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Automate High-Risk Onboarding to Gain a Competitive Advantage

One of the most challenging aspects of underwriting and validating high-risk accounts pertains to collecting, managing, and evaluating data. To adhere to the complex web of regulatory and compliance protocols, serving high-risk accounts requires extensive due diligence, resulting in a new member interrogation process that often drags on and on, creating unwanted confusion and frustration. The author argues that CUs must turn to technology to automate data collection and monitoring, facilitating the new member application and underwriting process, and goes on to offer some examples.

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A 'Blank' Card with No Code Imprints

Garanti BBVA has begun issuing a rewards-based credit card that stores credit card numbers, expiration dates and CVV codes on a separate mobile app, rather than on the physical card itself. It can be approved in a matter of minutes without the need for a physical signature. Once approved, accountholders will be able to start shopping immediately thanks to the built in QR and mobile payment features without having to wait to receive the physical card.

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Internet Access

 

Masergy Enhances Masergy SD-WAN to Help Secure to Home and Mobile Users

Masergy announced SD-WAN Work From Anywhere solutions which is designed to help the remote workforce by supporting their network connections with built-in security, dual-link redundancy, load balancing, and dynamic traffic steering capabilities. SD-WAN Secure Home includes a lightweight Fortinet Secure SD-WAN device for quick connectivity and improved application performance while using a home Internet connection. It also includes built-in next generation firewall and routing, direct connections to an ecosystem of cloud services, as well as secure access service edge (SASE) cybersecurity capabilities.

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On-Site Learning Lab Supports School Children at MSUFCU

To accommodate a critical need for employees’ families, Michigan State University FCU has launched a proctored classroom for schoolchildren who otherwise would be stuck at home because of the pandemic. When most schools in the Greater Lansing area announced they would conduct school online this fall, MSUFCU began exploring implementing Learning Labs to offer employees a safe and convenient place for their children to participate in virtual learning. The Learning Labs are located at the credit union’s headquarters and might be expanded to other locations if there is interest.

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Cameyo Uses Zero Trust to Improve HTTPS Port Security for Remote Work

Cameyo, which has focused on protecting against Remote Desktop Protocol (RDP) brute force and ransomware attacks in the past with its RDP Port Shield, is expanding its port shield technology to address HTTPS. Cameyo's approach to HTTPS port security aims to improve security by managing and closing down the number of open connections that Windows machines maintain. The goal is to reduce the attack surface for remote workers by automatically keeping all RDP and HTTPS ports closed, except when needed.

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Call Centers

 

Making a Good Contact Center Coach

Coaching isn't always well received; there's an art to it. Contact center coaches must be tactful and considerate when providing feedback to help employees feel valued and open-minded. This article provides some practical tips for becoming an effective contact center coach.

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