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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 Ukrainian Self Reliance Michigan FCU has successfully implemented the Episys core processing platform hosted by MDT. The $133M CU is also implementing the Banno Digital Platform.
Sharetec System announced that CUSA Federal Credit Union located in Louisiana, has partnered with Sharetec to be their next core banking solution.
Mastercard has launched a program that allows retailers to offer biometric payment methods, like facial recognition and fingerprint scanning. Users can authenticate a payment by showing their face or the palm of their hand instead of swiping their card. To sign up on Mastercard, you take a picture of your face or scan your fingerprint to register it with an app. This is done either on your smartphone or at a payment terminal. You can then add a credit card, which gets linked to your biometric data.
Between Zoom, Microsoft Teams, Google Meet, Cisco Webex and Skype, users have plenty of options for maintaining a virtual face-to-face connection. This article reviews the following web cameras: 1) Razer Kiyo; 2) Logitech BRIO; 3) Microsoft LifeCam Studio for Business; 4) AUSDOM 1080p HD Webcam Camera; 5) Logitech C920S HD Pro Webcam; and 6) NexiGo N60 1080P Web Camera.
Endpoint detection and response (EDR) is typically not something that smaller organizations have. The author states that Defender for Business makes it easier to deploy EDR in a reasonable fashion and in an affordable package. At $3 per user per month, it takes the place of your traditional antivirus solution that you may have deployed in your office. You can onboard workstations using a script, Intune or Group Policy.
Artificial intelligence in finance supports many traditional procedures, from front to back offices. According to this article, AI can help: 1) Accurately access credit risks; 2) Save resources; 3) Personalize services; 4) Detect fraudsters; and 5) Make accurate predictions.
Qualys unveiled Qualys Custom Assessment and Remediation, opening its Cloud Platform to provide access to custom scripts that can be natively integrated with other Qualys solutions. This new solution helps reduce response time by empowering IT teams to orchestrate workflows, secure custom applications, and take action to counter threats like zero-day attacks.
One money trend that seems new, but is actually a throwback to simpler times, is “cash stuffing.” It’s pretty much what it sounds like: dividing up your income into physical envelopes marked for different expense categories and stuffing them with money. One observer points out that "because it is a technology-free and simple methodological way to budget and plan finances, it feels safer for Gen Z that lacks faith in traditional banking and government systems.”
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:
A new study from Juniper Research has predicted the global spend using QR code payments will reach over $3 trillion by 2025; rising from $2.4 trillion in 2022. It predicts loyalty schemes will encourage repeat use and foster consumer trust in QR codes for payments. This growth of 25% will be driven by the increasing focus on improving the level of financial inclusion in developing regions and providing alternatives to established payment methods in developed regions.
The consumerization of mobile technology has heightened consumers’ expectations for how they engage with the brands and FIs they care about. The author discusses some ways to met these heightened expectations and help FIs become more user-centric and mobile-first.
Nasuni announced Nasuni Ransomware Protection, a new add-on service to the latest release of the Nasuni File Data Platform that offers an in-line ransomware edge detection capabilities for file data. The company claims that since their ransomware detection capability is in-line and executing, as soon as new file data is created by users or applications at any edge location, emerging ransomware attacks are detected in real time.
Rubrik announced Rubrik Security Cloud which they claim delivers three unique capabilities: 1) Data Resilience; 2) Data Observability; and 3) Data Recovery. Rubrik also launched the Data Security Command Center to help assess whether data is safe and capable of being recovered from a cyberattack.
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Technology and Marketing
Digital marketing and its corresponding metrics of success and ROI are evolving at break-neck speed. Case in point: Any marketer who has ever dipped their toe into the Google Analytics pool can attest that the sheer volume of data available can be overwhelming. In this article, you’ll find 15 essential metrics that will help you measure the ROI of your digital marketing, tell you if your efforts are successful, and show you where adjustments may be needed.
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
The author is convinced that FIs have been effectively disintermediating themselves with every new tool added to their mobile banking app and losing the opportunity to offer advice in real time. He points out that users can complete all but the most technical of transactions on their phone at any time, but FIs haven’t developed a similar delivery mechanism for advice, whether it is around lending, investment or small-business needs. He concludes that to adequately address these needs, FIs must embrace video banking.
Traditional FIs attempting to compete with digital-only banks (sometimes referred to as direct banks), need to understand how the user profiles of digital-only banks differ from those of neobanks. 27% of American banking consumers use an digital provider of some type for at least part of their financial needs, according to J.D. Power. While digital-only banks and neobanks often get lumped together, J.D. Power’s research points to some striking differences between their typical users. This article goes on to explore this in-depth and offer ways that traditional FIs can better compete.
Ericom Software announced the introduction of ZTEdge Web Application Isolation. The solution helps organizations to provide secure access to the private and public cloud or web-based corporate applications that workers using unmanaged devices need for their work, regardless of whether they are 3rd party contractors or employees. Leveraging remote browser isolation (RBI) and granular, user-level policies, ZTEdge Web Application Isolation works with other systems to control which applications each user can access and, once in, which actions they can complete.
Bad bots, software applications that run automated tasks with malicious intent, accounted for a record-setting 27.7% of all global website traffic in 2021, up from 25.6% in 2020, an Imperva report reveals. The three most common bot attacks were account takeover (ATO), content or price scraping, and scalping to obtain limited-availability items.
Video conferencing giant Zoom announced it is acquiring Solvvy, a startup which specializes in conversational AI and automation solutions for the contact center. Solvvy offers an AI-powered self-service support agent aimed at easing the load on consumer support teams by dealing with simple requests before handing over to a human agent. Zoom says that they can now give their customers an “automated, integrated, and easy-to-deploy” contact center solution.