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Digital banking provider Bankjoy has signed Lafayette FCU for its full digital banking suite. The Washington, D.C.-based credit union will also pilot Bankjoy’s business banking platform.
Upstart, a leading artificial intelligence (AI) lending platform, announced Patelco CU has partnered with Upstart to offer AI-powered personal loans to more people.
IBM's new Telum Processor will be the central processor chip for the next generation IBM Z and LinuxONE systems. The processor has a dedicated on-chip accelerator for AI inference and the design improves performance, security and availability. The company said that Telum's performance improvements will allow rapid response times in complex transaction systems, especially when augmented with real-time AI inference.
Schneider Electric is the latest OEM to jump on the on-demand leasing program hardware, in this case the company’s American Power Conversion line of uninterruptible power supplies (UPS). Rather than make a massive up-front purchase, you lease the gear and pay monthly for actual use. The deal is for channel partners to pair APC Smart-UPS solutions with its monitoring and dispatch services to create their own service offering.
Microsoft's Endpoint Manager combines Intune and System Center Configuration Manager to reduce the time and effort IT admins need to manage desktop and mobile work environments. Along with a single management interface for ConfigMgr and Intune, Endpoint Manager includes the Device Management Admin Center (DMAC), Windows Autopilot, and Desktop Analytics.
Zoom has add a Focus Mode in its latest release that allows the host to display only his or her video to help meeting participants focus on the presentation. A meeting host can see all participant videos, but participants can see only the host. This extends to screen sharing as well.
Open API standards are starting to be implemented in the U.S. This article states that they will drive innovation and international collaboration, improve transparency and user consent, and ensure data security. “FDX (Financial Data Exchange) is dedicated to unifying the entire financial services ecosystem around a common, interoperable, royalty-free standard for secure access-permissioned data-sharing,” says Don Cardinal, managing director of the Financial Data Exchange. “We’ve baked in a lot of security protocols and best practices and recommendations along the way, because a spec is only as secure as the folks implementing it.”
There are many things to consider when designing a UI for an ATM, such as what color scheme to use, what software package to purchase, how and when to push out upsell messages and how to integrate analytics. The author offers two User Interface recommendations: 1) Don't flood the screen - each "page" of content on the ATM screen should only have a few options, and 2) Make it easy to navigate - when a user clicks on a button, they should ideally never have to click the back arrow unless they accidentally hit the wrong button.
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:
Wi-Fi 6E is a technical extension of the Wi-Fi 6 standard to deliver improved Wi-Fi capacity, less interference, and higher throughput. Introduced in January 2021 by the Wi-Fi Alliance, Wi-Fi 6E allows for an increased frequency band of 6 GHz, providing up to 1,200 MHz of additional spectrum compared to Wi-Fi 6. This article goes into depth on the new standard.
FIs can improve their mobile user experience by prioritizing several key features valued by consumers. This article provides the following 6 advanced mobile banking features and functions that FIs should consider adopting to stay up with consumer preferences: 1) Upgrading Biometrics; 2) Credit Score Functionality; 3) Easy Connectivity; 4) Seamless Service; 5) Customizable Alerts; and 6) Authentication Control and Log-in Security.
Digital Guardian announced new enhancements to its endpoint DLP visibility and security controls specifically to secure a hybrid work model. Digital Guardian endpoint web inspection proxy (WIP) provides support across all browsers and extends coverage to both corporate as well as personal collaboration desktop applications Microsoft Teams, Skype, Slack, and Zoom to block users from sharing sensitive information in files and chat.
A holistic approach to vulnerability management includes identifying, reporting, assessing and prioritizing exposures. Instead of merely scanning for security gaps, a comprehensive approach to vulnerability management shows you how those gaps could be exploited and the consequences that could occur. The author states that these are 3 of the most significant problems that organizations face when managing vulnerabilities: 1) Failing to properly prioritize threats; 2) Not using a continuous approach; and 3) Poor communication and unclear organizational structure.
Technology and Marketing
Hispanic Millennials represent a quarter of all American Millennials in 2018, according to Statista. This article states that a big cause of the financial stress of Hispanic Millennials is that almost three quarters of them (72%) are providing financial support to their family, compared to 53% of non-Hispanic Millennials. It goes on to cover ways to better serve this niche group.
This article takes a look at 5 of the most important trends in 2022 that will shape your approach to digital marketing and help you make informed decisions when it comes to using technology for business marketing purposes: 1. The Rise of AI in Digital Marketing; 2. Chatbots and Voice Assistants; 3. The Transition to Mobile-First Marketing; 4. Multichannel Marketing For Connected Digital Experience; and 5. Digital Tasks and Marketing Automation.
Mastercard said it will slowly phase out the requirement that its branded cards have a magnetic stripe in favor of the EMV chip. Beginning in 2024, in most markets, newly issued Mastercard credit and debit cards will not be required to bear the magstripe. By 2033, Mastercard said none of its cards will have the technology. In 2020, more than 72% of U.S. card-present transactions were made with chip cards, according to EMVCo, which maintains EMV standards.
As more non-financial brands embed financial services in their offerings, FIs must decide whether to view this incursion as an opportunity or threat to their existing accountholder relationships and legacy business models. The appeal of embedded banking is to provide an easy and seamless way to deposit, save, pay or borrow without leaving a non-financial company’s app. According to McKinsey, “Companies of all types and levels of maturity – including retailers, telcos, big techs and software companies, car manufacturers, insurance providers, and logistics firms – are considering and preparing to launch embedded financial services to serve business and consumer segments.”
IBM has announced a new Secure Access Service Edge (SASE) solution designed to encourage the zero-trust security approach. IBM Security Services for SASE will leverage technology provided through a partnership with cybersecurity firm Zscaler. The soution includes the firm's zero-trust strategy protocols, SASE blueprints, a modern network architecture, and Zscaler capabilities, including the creation of processes and policies for managing SASE, as well as support for IBM Managed Security Services.
Cameyo announced Secure Cloud Tunneling, their new software that they claim provides greater protection for organizations enabling remote & hybrid work by eliminating the need to open ports in their firewall. The new offering expands upon the firm's native Zero Trust security architecture.
According to Cornerstone’s What’s Going On In Banking study, heading into 2020, just 4% of mid-size FIs had deployed a chatbot. By the end of the year, that percentage had more than tripled to 13%. They go on to state that there are 3 requirements driving the need for chatbots in banking:1) The need for speed; 2) The need for data; and 3) The need for personalization.
Authenticating callers before they hear “hello” can halt scammers snooping into your interactive voice-response (IVR) system. Confirming the calling phone’s authenticity and matching the calling number to the reference phone number on file allows the contact center to identify and deterministically authenticate callers. To distinguish callers from possible fraud threats, other call signals inform a probabilistic pre-answer risk assessment, such as calling history, call routing and line type. Only risky callers receive stepped-up authentication or the full focus of the fraud department.