Your source for the latest technology information of interest to credit unions across America.
Subscribe to our weekly e-mail newsletter and/or our monthly newsletter and stay on top of the latest technology trends in Hardware, Software, ATMs, Biometrics, Wireless, Online Banking, Marketing, Security, Internet Access and Call Centers.
This Week's News is Sponsored by Better Branches ~
Sharetec System announced that Paradise Valley Federal Credit Union in National City, CA, has partnered with Sharetec to be their next core banking solution. They will also be offering Sharetec Mobile Banking, Online Loan Application with Remote eSign capability, eReceipts, eNotices, eStatements and more.
DeepTarget announced the addition of its new 3D Story On The Go (OTG) product extension to its Digital Experience Platform (DXP). This expansion of their product portfolio uses consumer/business intelligence and AI to power adaptive and immersive 1-to-1 personalized experiences for members by plugging into campaigns driven by any marketing automation, email, SMS, and social media marketing platforms.
Micron Technology is bucking the trend of moving to PCI Express-based storage and releasing a new SATA III-based SSD with ultradense memory storage and read optimized for faster data access. The firm says that for basic functions like file storage and line-of-business applications, SATA does the job just fine. However for HPC and AI modeling, they recommend a PCIe-based storage array.
HP Enterprise says it will deliver a series of servers powered by the Arm-based Altra and Altra Max by Ampere, the CPU startup run by former Intel executive Renee James. Starting in Q3 2022, HPE says it will ship ProLiant RL300 Gen11 servers, available for both outright purchase and for leasing through HPE’s GreenLake consumption model. HPE says this will be the first in a series of HPE ProLiant RL Gen11 servers using 80-core Altra and 128-core Altra Max processors.
This article looks at how three embedded banking models – Banking-as-a-Service (BaaS), Banking-as-a-Platform (BaaP), and Service-as-a-Bank (SaaB) – work and what advantages and risks exist for FIs looking to implement them.
Windows Server 2022 brings a lot of security improvements to the platform, taking advantage of hardware support for virtualization and a hardware root of trust to deliver a secured core server. These technologies aim to protect not only the Windows kernel and memory but also any drivers and system firmware, including network cards and storage. This article goes on to cover implementing SMB Compression, SMB over QUIC and Storage Spaces.
Software Section Sponsored by
Aurora Advantage (A Product of CSPI)
According to a report by ResearchandMarkets.com, the global FI kiosk market (which encompasses video teller), is expected to grow at a rate of 12% annually, from $744 million in 2021 to more than $1.3 billion by 2026. The article contends that video teller, video teller ATMs and integrated kiosk solutions are a good way to leverage your staff. It concludes that deployers should considering video teller kiosk teller integration should explore APIs to seamlessly enable functions such as authenticating and retrieving accountholder information.
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:
The major public cloud providers, including the three leaders – Amazon Web Services (AWS), Google, and Microsoft – all have designs on building out wireless services at the edge. Google had previously announced its own private wireless services, and then they just announced it has partnered with startup Celona to deliver private 5G to the enterprise edge. Celona also has agreements with Verizon and NTT. The key distinction between the emerging private wireless market and public wireless services such as 5G is that private wireless services are based on unlicensed spectrum, such as the Citizens Broadband Radio Service (CBRS).
The ‘State of Data Exfiltration & Extortion Report’ survey revealed that while over 70% of organizations have an existing set of prevention, detection, and backup solutions, nearly 40% of them have been hit with ransomware attacks in the last year, and more than 70% have experienced one in the previous five years. Plus data exfiltration during ransomware attacks is up 106% relative to where it was five years ago. Basically, cybercriminals are no longer limiting themselves to just encrypting entire systems—they are making sure to pilfer data ahead of the encryption so that they can have additional leverage.
LogRhythm launched version 7.9 of the LogRhythm SIEM Platform and updates to LogRhythm NDR and LogRhythm UEBA. The company says that the updates provide new features designed to help security teams overcome everyday obstacles by accelerating threat response, improving workflows and simplifying processes.
Security Section Sponsored by
Connect with industry leaders and your peers on the latest cybersecurity strategies and trends for CUs focusing on Risk Management, Regulatory Compliance, Audit, and Information Technology with an innovative look to the future!
Mark Your Calendars:
October 12th – 14th at the TradeWinds Resort in St. Petersburg, FL
Register Today: https://redzoneprotects.com/online-registration/
Technology and Marketing
Lake Trust CU has partnered with Downtown Lansing, Inc. to create a development and retail space for entrepreneurs to test and grow their business ventures. Additionally, the $2.5B CU has committed $1 million to loans of $50,000 or less to help small businesses. Lake Trust has agreed to a five-year partnership that not only subsidizes the retail space, which allows entrepreneurs to launch their businesses rent-free, but also provides financial counseling and mentoring for each startup.
The Future of Financial Services Institutions (FSI) report found that consumers want easy UI/UX experiences with relevant information across their preferred channels, efficient service, and personalization. The report concludes that the future of financial services is clearly digital, and that speed, personalization and intelligence (relevance and precision) are keys in a digital-first economy.
Benchmarking Your Digital Banking Strategy
Access Softek - http://www.accesssoftek.com
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
By some estimates, FIs’ share of the bill pay market has dramatically fallen from over 50% to the mid-to-upper twenty percent range. Paying bills directly on a biller’s website often offers more payment choices, automation, and clarity of information surrounding the bill pay process, notes Mercator Advisory Group. Tha author lays out some relatively simple things that FIs can do to improve their bill pay offering.
This article posits that single-cloud computing environments are risky, and that using a multicloud environment is the way to go. Multicloud refers to the distribution of cloud assets, software, applications, etc., across several cloud-hosting environments. With a typical multicloud architecture utilizing two or more public clouds as well as multiple private clouds, a multicloud environment aims to eliminate the reliance on any single cloud provider. In action, the router connecting to each cloud provider should have redundant line cards, redundant control modules, and redundant power supplies. The article details all that is needed to truly have a redundant multicloud environment.
Avaya recently showed off its modernized contact center experience in a series of demonstrations on how the company is utilizing Cloud 3.0 as well as conversational AI and machine learning into voice, video, chat and messaging without the need for companies to change platforms. The goal is to solve business problems without having to change platforms and instead “drop a virtual agent in front of existing infrastructure." Partners can also utilize Avaya’s Experience Builder program to create custom communications applications.
The author suggests that when evaluating what to put into a chatbot, an organization should look at their existing contact load for the channel. If the chatbot is used for messaging services, then the type of things people ask on messaging should be reviewed. If the chatbot is actually a voicebot, then the contact reasons for voice should be reviewed. He goes on to highlight differences between chatbot, voicebot, or generic conversational AI, and discuss best use cases for each.