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Sharetec System announced 18 new CUs have partnered with them in 2021 to be their next core banking solution. Two of the new clients include First Priority FCU and Riverside Community FCU.
Data and analytics consulting firm Arkatechture, ORNL FCU and Tucson FCU have created a partnership focused on bettering the data analytics abilities for CUs with the creation of a new CUSO. The three organizations said that the newly created CUSO will attempt to accelerate the implementation of Arkatechture’s Arkalytics platform into the CU marketplace.
Next-generation firewalls (NGFW) offer the same capabilities of a traditional firewall with added features such as Deep Packet Inspection (DPI), Integrated Intrusion Protection (IIP), Web Filtering, Antivirus, Antispam, Anti-Malware, SSL and SSH traffic inspection, all with an eye towards the detection and isolation of threats in real-time. This article covers the pros and cons of NGFWs from Cisco, Palo Alto Networks, Fortinet, Check Point, Sophos, Juniper, SonicWall
With the CASA HUB A09 USB-C 3.1 Gen 2 9-in-1 Hub, you will never be short on ports. It has a USB-C port for maximum PD 100W charging input, a USB-C 3.1 Gen 2, two USB-A 3.1 Gen 2 ports for high-speed transfers up to 10Gbps, a USB-A 2.0, as well as VGA, HDMI, SD and micro SD card slots.
Veritas Technologies announced the latest version of NetBackup powered by Cloud Scale Technology, the next generation of NetBackup’s architecture, which they say is the foundation for Autonomous Data Management and multi-cloud data protection. They claim that their new technology will continuously self-provision, self-optimize and self-heal data management services.
Physical threats are not the only security concerns for ATMs - outdated key standards and card skimming are also major issues in the ATM industry. This article takes a closer look at some of these ATM security issues and what causes them.
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:
This article takes a look at some top UX design trends for FinTech apps in 2022. They are: 1) Fully mobile banking; 2) Gamification; 3) Data visualization tools; 4) Animations and geometric art; and 5) Centralization.
MyCena says that their approach to securing digital access solves 3 major cybersecurity problems: 1) password creation and distribution; 2) risk aggregation; and 3) committing passwords to memory. MyCena offers a credentials-based segmentation and cyber-resilience strategy that is zero trust by default.
Forcepoint One is an all-in-one cloud platform that helps simplifiy security by integrating zero trust and secure access service edge (SASE) technologies so IT Departments can manage one set of policies through a single console. They state that their platform helps organizations embrace SASE by putting crucial security services such as secure web gateway, remote browser isolation, content disarm and reconstruction, cloud access security broker and zero trust network access under a single umbrella. The company claims that the platform also eliminates the need for products to block malware and protect sensitive data across business applications and on BYOD devices by supporting integrated advanced threat protection and data loss prevention.
Palo Alto Networks announced Cortex XSIAM which is an AI-driven platform that they call an autonomous security platform. They claim that their new solution brings threat response times down from days to minutes and provides a modern alternative to SIEM.
Technology and Marketing
The authors state that FIs know the value of personalization — how it can lead to greater loyalty and an increase in primary account relationships., but contend that these expectations are largely unfulfilled. They think that is because creating primary relationships has typically been approached through product acquisition, and those acquisition efforts have been personalized in only the most rudimentary way — using name, address and sometimes (but surprisingly seldom) other data such as product usage and product relationships. They go on to discuss how a better data strategy can help rectify these issues.
TransUnion has launched a new set of tools that will help shoppers using point-of-sale (POS) loans, including buy now, pay later (BNPL), improve their credit scores while offering lenders a more holistic view of prospective borrowers’ risk. TransUnion’s Point-of-Sale Suite of Capabilities offers lenders insight into the payment behaviors of consumers using alternative credit tools such as POS lending and BNPL products. In order to minimize unnecessarily negative impact on the consumer credit score while still communicating valuable borrowing and repayment data, POS and BNPL borrowing information will be tagged and filtered into a new section in TransUnion’s core credit file.
Benchmarking Your Digital Banking Strategy
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Read Chris Doner's comments:
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
Starting in the spring of 2020, with branch lobbies forced to close, acceptance and usage of digital banking began skyrocketing. According to this article, further digital transformation is about making sure a FI’s datasets are organized, managed and visible so data can be optimized. It concludes that the winners in the financial services sector will be FIs that do the best job of aggregating information—both within their organization and externally—and then being able to extract insights from that data.
DNSFilter announced AppAware, which gives organizations the power to block the apps and includes high-profile file-sharing, remote desktop, and messaging programs. One feature allows for the discovery of what applications are being used. They could be on a personal device or a network or anything making DNS queries.
Microsoft launched a public preview of its service for managing permissions across not only for Azure, but for Amazon Web Services and Google's Cloud Platform. The service, CloudKnox Permissions Management, will allow organizations to manage the privileges and roles of individual users as groups, as well as workloads. The service builds on technology from CloudKnox Security, which focuses on allowing administrators and security teams to gain visibility into the actions of humans and machines in the cloud.
According to a recent financial services study by Capco, cloud investments have paid off for FIs in terms of both their top and bottom lines. They cite the following 4 positive results: 1) Improved profitability; 2) Increased revenue; 3) Increased market share/expanded client base; and 4) Decreased costs.
Initially operating in pilot mode, Russia's VTB voice assistant will not only identify the caller at the time of the call, but also analyze their interaction history, including previous requests. The system will form a suggestion of what the current query is related to, and immediately after the greeting, it will clarify the request with the caller, for example, the amount owed on a loan. If the caller confirms that the query is related to the predicted topic, the voice assistant will immediately provide an answer, or direct it to an operator.