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February 21, 2022

This Week's News is Sponsored by Better Branches ~



General News


MDT Expands Partnership with Advanced Fraud Solutions

Member Driven Technologies (MDT), a CUSO that hosts the Episys core processing system from Symitar to provide a private cloud alternative for core processing and IT needs, announced that it has expanded its partnership with Advanced Fraud Solutions by adding their adding TrueACH with Account Validation and TrueCards to MDT’s suite of complementary solutions.



Nominations Open for the Finopotamus 2022 Tekkie Awards

Finopotamus announced that it is now accepting nominations for its 2022 Tekkie Awards. This is the second installment of the annual competition. Here is the nomination form: https://www.finopotamus.com/tekkies





Hardware News


Acer's Green PCs

Acer recently announced the expansion of their Vero line of environmentally-friendly PCs into the business realm. Vero PCs are made with post-consumer recycled plastic (30% case, 50% keycaps), include software designed to minimize carbon footprint and energy usage and are packaged in completely recyclable and reusable boxes. New green models include the Acer TravelMate Vero laptop, Acer Veriton Vero Mini desktop, and the the Vero BR277 monitor.



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


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Software Updates


CoSoSys Endpoint Protector Helps Strengthen Data Security

CoSoSys released Endpoint Protector, introducing a host of new features including Advanced Content Detection. With the new version of Endpoint Protector, it’s possible to define complex conditions for content scanning. It also introduces a new integration with Okta SSO to streamline and automate the process of managing user accounts, credentials, and privileges on third-party systems.



DocuSign & Zoom Unveil eSignature for Zoom

The new DocuSign eSignature for Zoom allows users the ability to complete everyday personal or business-related tasks, while not having to be in the same location as other users. The eSignature for Zoom allows for multiple parties to sign documents while having face-to-face communications.



AI Fueling the Future of FIs

The author is convinced that Artificial intelligence is set to change the future of almost every industry. He says that it augments the decision-making processes, facilitates error-free back-end processes, enables fraud identification, empowers with an efficient marketing tool, increases turn-around time, and improves customer services. He identifies 6 areas where AI can assist FIs: 1) Classifying Digital Documents; 2) Augmenting Decision-making Process; 3) Improving Risk Accuracy; 4) Detecting Digital Frauds; 5) Delivering Hyper-personalized Products and Services; and 6) Reducing Manual Intervention.



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ATMs Make Travel Easy with Currency Exchange Tools

ATMs are helping make international travel a bit simpler with currency exchange tools. The Travelex ATMs don't require users to fill out any forms or stand in queues and can provide currency in seconds and are operational 24/7. They are also developing technology that allows travellers to reserve their foreign currency orders online, at the best rates and with no commission, and pick it up at their airport ATM of choice when they fly.



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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:  

Member Access Pacific


and their client is:

SELCO Community 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


Top Mobile App Trends and What They Mean for Banking

The most downloaded finance related apps in the U.S. are Block’s Cash App, TurboTax, PayPal, Venmo, and Credit Karma. This article states that FIs will need to make their apps more engaging and fun, and then goes on to cover some ways to acheive these goals.



WiFi as a Service Market Growing

WiFi as a Service (WaaS) is a subscription-based system that combines infrastructure, software, and managed services. It provides 24/7 remote monitoring and troubleshooting of configuration issues. As a result, it is deployed in organizations with limited IT resources for secure wireless local area network (WLAN) access across various locations. It also enables users to attain a fast data network as it can be managed via a network operating center.



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Security Section


Security Startups to Watch for 2022

The problems cybersecurity startups attempt to solve are often a bit ahead of the mainstream. Here is a list of new vendors to keep an eye on: Grip Security; JupiterOne; Lightspin; Noetic Cyber; Polar Security; and Revelstoke.



How to Boost Security Features in Microsoft Edge at No Cost

Changing default settings in Microsoft Edge can boost security performance significantly. This article suggests a few configuration settings that could greatly increase the effectiveness of Microsoft Edge’s security protocols.



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Technology and Marketing


Poll: Consumers Say Cash Back Is King

A Bankrate survey found that more than 4 in 10 (41 percent) U.S. adults listed cash back as their favorite credit card feature. The next-most-desired features didn’t even come close to the overwhelming popularity of cash back rewards. Cash back was three times as popular as the next favorite feature, wide acceptance. After cash back, here are the most popular credit card features cardholders chose in the Bankrate poll: * Accepted most places (14 percent); * Low interest rate (9 percent); * Travel rewards (6 percent); * Low fees (5 percent); * Travel perks (4 percent).



Data Can Help Create Credit for the Underbanked

There’s over 100 million “unbanked” or “underbanked” Americans. A common industry term applied to the unbanked or the underbanked seeking credit is that they are “thin file,” or they are “credit invisible.” This article states that these terms are much too limiting, and they’re just the tip of the iceberg and that FIs must look at each consumer holistically. The article concludes that thanks to advances in AI and machine learning lenders are now able to process much more information in such a shorter period of time which gives them the ability to add much more information about a consumer holistically so that they can understand them better.



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Digital Banking Industry Leaders Forum

Thought Leadership From Around the Industry by Credit Union tech-talk and Finopotamus:

Benchmarking Your Digital Banking Strategy

Humanizing Digital: Increasing Account Holder Loyalty and Exceeding CU Goals with Smart, Flexible Solutions


Digital Transformation: A Credit Union Imperative

The Digital Banking Market Is Heating Up

Three Present-Day Goals to Revolutionize Your FI’s Marketing

eSignatures Are Now a Top Priority Across the Nation

Fight Fraud by Better Understanding Your Financial Data

It’s Always About the People: 5 Rules for Digital Banking and Beyond


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Online Banking/E-Commerce/Website Design


Virtual Debit Cards Are a Win-Win

In 2020, debit-card spending outpaced credit card spending for the first time in 16 years. Not only has debit card spending increased over the past year, but the ways people are using their debit cards has also shifted. The Pulse Network study also noted that card-not-present usage rose significantly – in 2020, transactions increased 26% and dollar volume climbed 21% compared to a year earlier. This article discusses the ways that virtual debit cards can offer unique benefits that demonstrate the power and capabilities of a digital medium.



Digital Banking Should Be Personal Banking

Thanks to the acceleration of digital interactions during the pandemic, consumers now expect more than half of their banking business — 61% — to be digital-only by 2024. But that still leaves another 39% of banking they expect will involve direct human assistance. This article states that the greatest deterrents to digital-only banking vary by age group, though some concerns transcend generational differences: roughly 20% to 30% of baby boomers and seniors, Generation X consumers and millennials listed concerns about data security and fraud as their reason for not going digital-only with their banking.



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Internet Access


62% of FI Leaders Expect Their Cloud Investments to Increase Revenue over Next 2 Years

Financial services leaders cite increased future revenues (62%) and improved future profitability (52%) as leading reasons to deploy cloud technologies, according to a new financial services study by Capco. The survey noted that the top three obstacles to cloud implementation for FIs are: 1) Difficulty in deciding on best technology options (48%); 2) uncertain ROI and use cases (45%); and 3) lack of enterprise-wide strategy and roadmap (42%).



Laminar Announces Cloud Data Security Platform

Laminar announced the general availability of their Cloud Data Security Platform. It uses agentless and asynchronous data security and leakage protection to help spot cloud data privacy and protection violations. Laminar provides continuous monitoring of both managed and unmanaged datastores, compute and data egress channels locally, via APIs, without the use of agents or interrupting data flow.




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Call Centers


The New Priorities for Contact Center Operations in 2022

The author highlights her top contact center considerations in this article. Her top priorities include Health and safety protocols; Hiring; Onboarding; Training; Operational support; and The technology that ties it all together.