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June 13, 2022

This Week's News is Sponsored by Better Branches ~



General News


Alabama Central Signs with Corelation

Alabama Central Credit Union ($198 million in assets; 17,269 members; Birmingham, AL) has signed with Corelation to convert to KeyStone in 2023. Alongside their core conversion, the credit union has plans to update their interactive voice response (IVR) and mobile banking platforms to provide their members with easier to use technology.



Velocity Solutions and DoubleCheck Solutions to Provide Consumer Liquidity and Overdraft Options to CUs

Velocity Solutions announced a strategic partnership with DoubleCheck Solutions. In this partnership, Velocity Solutions will integrate DoubleCheck’s technology into Velocity’s total Consumer Liquidity Engine, comprised of its Intelligent Limit System software and the CashPlease small-dollar, short-term lending platform.





Hardware News


Extreme Announces High-End Universal Switch, SD-WAN Service

Extreme Networks has extended its Universal Switch family and added an SD-WAN subscription package to provide more flexible enterprise networking options. The company has added a new top-end switch—the 5720—to its Universal Switch familty, a wired or wireless switch that can be managed from the ExtremeCloud IQ (XIQ) cloud-based console. XIQ offers a variety of wired and wireless management, analytics, location tracking, security and IoT support. It supports cloud providers including AWS, GCP, and Azure.



The 10 Best Windows Laptops of 2022

What is the best Windows laptop? ZDNet's top pick is the Dell XPS 15 (2021). But they also review these other laptops: 1) Dell XPS 13; 2) HP Elite Dragonfly G2; 3) Lenovo ThinkPad P1; 4) Acer Swift 3; 5) Dell's Latitude 5420 Rugged; 6) HP Elite Folio; 7) Microsoft Surface Laptop 4; 8) Microsoft Surface Pro 7+; and 9) LG Gram 17.



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


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Software Updates


Microsoft Says This Is How to Improve Your Teams Meetings

Microsoft research has found that meeting scenarios with a higher chance of benefiting from video usage were small meetings with fewer than eight participants where some people are in a meeting room, and the rest are joining remotely. Microsoft also found that criteria for successful video meetings includes: using a meeting agenda, active participation, having video turned on, keeping meeting sizes small, and sharing pre-meeting material. All of these ranked high for driving inclusiveness and effectiveness.



Lumu Incident View Helps Security Teams to Prioritize Incidents Based on the Progression of Attacks

Lumu has launched Lumu’s Incident View which helps deliver a single view of an organization’s cybersecurity stack for threat investigations. Lumu’s Incident View helps IT teams receive actionable information about who was impacted, when the incident took place and how best to respond before it escalates to a bigger problem.



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2022 ATM Market Summary: Coping in a New Cash and Digital Era

As the COVID-19 pandemic ripples across consumer payments, the heavily cash-centric ATM is in a challenging position. Consumers’ use of cash for daily transactional purposes (purchases, person-to-person payments) is on the decline, although larger amounts are being held at home. At the same time, FIs are rationalizing and reducing their branch networks and revising branch configurations and staffing, putting ATMs in the role of supplementing cash handling in the branch. Enhanced cash-recycling ATMs are being deployed to improve the efficiency of cash management. Simultaneously, the move to smartphone-based digital interfaces—and now the delivery of digital goods, namely cryptocurrencies—provides new opportunities for existing and new terminals. A new research report from Mercator Advisory Group titled 2022 ATM Market Summary: Coping in a New Cash and Digital Era looks at the usage related to the pandemic environment, cash usage that influence how consumers use ATMs, and trends in the design, deployment and new capabilities.



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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:  

Enhanced Software Products (ESP)


and their client is:

Golden Triangle FCU

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


The 411 on Mobile Phone Fraud

More than half of Americans have received scam calls and/or text messages (smishing) in the past year, according to Truecaller. Even though most didn’t take the bait, nearly 60 million Americans reported that they were victims of phone scams, resulting in a collective loss of roughly $30 billion. This article looks at some of the most popular scams targeting mobile devices.



Contactless Card Shipments Broke Through the 2 Billion Barrier for the First Time in 2021

Despite a persistent shortage of microchips, global shipments of contactless cards hit the 2-billion mark for the first time in 2021, totaling 2.63 billion for the year. Overall, contactless cards accounted for 76% of payment card shipments globally in 2021, up from to 69% in 2020 and 59% in 2019, an indication that consumer demand for the cards is steadily rising.



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Security Section


Fortinet Unveils New Digital Risk Protection Offering

Fortinet announced FortiRecon which is a Digital Risk Protection Service (DRPS) offering that uses a combination of machine learning, automation capabilities, and FortiGuard Labs cybersecurity experts. FortiRecon delivers a triple offering of outside-in coverage across External Attack Surface Management (EASM), Brand Protection (BP), and Adversary-Centric Intelligence (ACI) to help counter attacks at the reconnaissance phase.



Acronis Advanced DLP

Acronis debuted a new Advanced Data Loss Prevention (DLP) pack for Acronis Cyber Protect Cloud. They say that their solution helps protect sensitive data transferred via a wide array of user and system connections including for example, instant messaging and peripheral devices.



Security Section Sponsored by
RedZone Protects

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Technology and Marketing


Deposit Marketing Is Coming Back, but It's More than Rate Ads

This article predicts that FI marketing departments will soon need to promote deposits, after a hiatus of several years. The deposit battle may be more about retaining relationships than just the actual deposit dollars. The article concludes that financial marketers’ depth of understanding of their accountholders will make or break their ability to decide which of them must be held even at the cost of a higher deposit rate.



Elevating VoC Feedback to Drive Meaningful Results

VoC (Voice of the Customer) data has little value when an FI cannot leverage the collected insight to understand user pain points, isolate root causes and act on the information learned. Routing feedback to appropriate parties for action empowers FIs to acknowledge that they hear what their accountholders say and are doing something about it. Informing them via email, personal call or text what action was taken based on feedback gathered is a powerful way to close the feedback loop. This article goes on to look at how to structure surveys and feedback mechanisms that prompt the right users for honest, unbiased feedback in a timely and relevant manner.



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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


Mastercard Debuts 'Pay by Link'

Mastercard debuted its Pay by Link payments feature at Money 20/20 Europe, leaning on European open banking platform Aiia to allow businesses to send their customers a link so they can pay instantly from anywhere. Based on open banking payments, Mastercard’s Pay by Link feature offers users dealing with accounting, insurance and telecom companies, as well as social commerce, payment service providers and utility firms. Pay by Link is being rolled out in for now just in Europe.



Apple Cuts out FIs to Offer BNPL Loans Directly

Apple has taken another huge step into financial services, making loans to users of its new BNPL product directly, rather than through a banking partner. The tech giant has set up a wholly-owned subsidiary, Apple Financing, to offer loans directly for the Apple Pay Later service. Apple is using Mastercard's white label BNPL product, Installments.



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Internet Access


BigID Introduces Cloud Data Security on Demand

BigID announced the availability of SmallID which they claim is the first pay-as-you-go cloud data security platform. With SmallID, customers can automatically discover and classify their data by sensitivity, type, regulation, policy, and more.



3 Reasons Why We've Stopped Talking About Private Cloud Computing

Although private cloud architectures were once all the rage, you hear very little about them today, according the author. He goes on to offer these 3 perspectives on the state of private cloud computing in 2022: 1) Public Cloud Vendors Can't Make Money from Private Cloud; 2) Private Cloud Never Went Cloud-Native; and 3) Modern Public Cloud Is (Almost) as Secure and Flexible as Private Cloud.




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Call Centers


5 Reasons Why Contact Centers Shouldn’t Offer Video Calls

The idea that visitor experiences will be enhanced when consumers and agents can see who they’re talking to holds an allure because it can foster trust, personal connections, and provide the ability to read body language and facial expressions. However, the author does not subscribe to this theory. He argues that there are 5 important reasons why you should not adopt video call technology in your contact center: 1) Appearance Biases; 2) Personal Space Invasion; 3) Dress Code Compliance; 4) Longer Handle Times; and 5) Obscene Callers.