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Advanced Fraud Solutions announced TrueACH with Account Validation - a new ACH tool that enables CUs to confirm account status and authorized users. TrueACH with Account Validation was developed in response to Nacha's WEB Debit Account Validation Rule which requires CUs to apply a "commercially reasonable fraud detection system" to validate that an account is open and accepts ACH entries.
authID.ai, a leading provider of secure, mobile, biometric identity verification and authentication solutions, announced that CU NextGen has integrated with its Identity as a Service (IDaaS) platform. Through this new partnership, CU NextGen has begun roll-out of authID’s identity services with its first CU, with plans for further expansion to additional CUs.
Western Digital announced a new disk drive architecture that combines flash memory with high-density hard-disk drives plus a small CPU to manage everything. The OptiNAND technology combines WD HDDs with iNAND flash memory chips and a special system on a chip (SoC) design from WD. The SoC will manage the storage of data, with live data going to the hard disk while metadata is stored on the iNAND flash. All data storage is managed by the SoC, along with the management of the drive, such as wear leveling of the flash storage.
Protecting your data has never been more important, and one of the the best ways to do it is by using encryption keys. These keys should then be stored inside a hardware security module which secures and manages them. To select a suitable hardware security module for your organization, you need to think about a variety of factors. This article features interviews with several industry professionals to get their insights on this topic.
Microsoft will start distributing Windows 11 on Oct. 5 to eligible PCs. They expect all eligible devices to be offered the free upgrade to Windows 11 by mid-2022. Microsoft didn't spell out how new a PC must be to snatch a first-in-line spot. Fresh machines available on and after Oct. 5 will come with Windows 11 pre-installed, though again, Microsoft wasn't ready to go all-in, saying, "PCs that come pre-loaded with Windows 11 will start to become available for purchase."
Red Sentry announced that its new pentesting platform allows companies to automate their penetration tests and run them continuously. Red Sentry can also perform vulnerability scans and pentests on cloud environments such as Amazon Web Services (AWS), Google Cloud Platform (GCP), and Microsoft Azure. In addition, the firm automatically identifies and tracks all of an organization’s online assets via its attack surface analysis platform. Red Sentry provides continuous pentests on a subscription basis as Software as a Service (SaaS), and the company offers manual pentests as well.
Alliance Credit Union is using ITMs as an alternative to "traditional transaction methods." The Texas based credit union partnered with Bancsource to offer ITM-based services such as withdrawals, check cashing, deposits and opening an account. It also enabled live interactions with a teller to deliver a more personalized experience.
Azimut recently debuted its Reverse ATM, a self service kiosk that helps consumers convert cash into an active EMV card that they can start using right away. This first batch of Reverse ATMs was deployed at the Rogers Centre in Toronto, home to the Toronto Blue Jays. Reverse ATMs prompt users to insert their desired amount of cash and display the amount for confirmation before dispensing an active Visa card with the same amount of credit that can be spent at any location that accepts Visa.
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 has been with us since 1997 with the latest iteration (Wi-Fi 6 or 802.11ax) being released in 2019. So when can we expect to see Wi-Fi 7? This article covers what some Intel executives think about the upcoming Wi-Fi 7 rollout and new included features.
5G technology has the potential to increase the attack surface for threat actors, introducing new vulnerabilities and expanding the number of targets. Plus in some cases, implementing 5G will mean relying on public and untrusted infrastructure, which is inherently less secure. This article goes on to look at a variety of evolving 5G security issues.
BehavioSec announced that their BehavioSense platform has been enhanced with a SOC/ISO compliant, hosted-version and a cloud-native, SaaS version. They claim to be the first to offer comprehensive behavioral biometrics for MFA in this lightweight, self-service form factor.
What’s stopping organizations from using Zero Trust? A number of challenges, psychological or material, can hold organizations back from committing to Zero Trust security. The biggest worry is fear of the unknown: “What am I going to break by changing over my current cybersecurity posture to a totally new process?” A second common barrier is a misapprehension that moving to a Zero Trust architecture will create workload overload for the team. Other barriers to implementing Zero Trust solutions include a lack of skills, time, budget, or managerial commitment.
Technology and Marketing
The author offers an overview of three key planning points that you need to tick off on your social media strategy list: 1. Ensure your social profiles are filled out and complete; 2. Conduct competitor research and establish performance benchmarks; and 3. Research key content trends and interests in your sector.
The article states that AI-powered automation doesn’t just make an organization’s marketing department faster, it also becomes smarter by leveraging data far more efficiently than through manual methods. From consumer interactions to risk management, orgnaizations are using AI to streamline marketing workflows and improve predictive capabilities. This article looks at a few ways to use AI in your Marketing Department.
Typical BNPL, which enables consumers to make large purchases even if their cash flow is strained, divides a large purchase into four monthly payments, with the specific terms varying based on the provider. The fintechs that offer BNPL pay merchants the full price of the purchase, then the consumer pays the fintech over time. However, CUs haven't typically been part of the buy now/pay later battle being waged among banks and fintechs. The credit union version of BNPL that is emerging is designed to be a faster point-of-sale version of taking out a personal loan before a large purchase. The fees and terms of each BNPL service, including the exact number of installments, will be determined by individual CUs and in most cases, credit union members will use their existing card account.
Since FDX’s last report in April 2021, over 1 million additional consumer accounts per month were transitioned to the FDX API, representing an increase of 6 million more consumer accounts using the FDX API today since this spring. FDX is expected to issue its fall product release later this year which will include version 5.0 of the FDX API as well as updated user experience guidance and other standards updates. The FDX API currently defines over 620 unique financial data elements so that consumers can use and share a wide range of their own financial data to benefit their financial lives. FDX has a global membership and predominantly operates in the US and Canada.
The number of distributed denial-of-service (DDoS) attacks grew fourfold in the first half of 2021, with attack volume doubling, new data shows. The increase in volume and cadence of attacks is likely because attackers have more tools at their disposal and the pandemic has left companies with a greater range of services to target. Cost is another issue: The price of a cup of coffee can disrupt access to corporate cloud services, while $100 can take down a network for hours, if not days.
NICE announced the release of Enlighten AI for Complaint Management, which automatically identifies and categorizes consumer complaints as well as helps automate the remediation process. The solution analyzes interactions across all communication channels and operationalizes root-cause insights to help protect organizations from reputational and compliance risks. NICE Enlighten AI for Complaint Management also serves as an early warning system, notifying organizations of the potential risk of regulatory action.