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January 2, 2023

This Week's News is Sponsored by Better Branches ~



General News


Sequoir Announces Integration with Jack Henry's Digital

Sequoir announced that its digital asset (cryptocurrency) solutions are now accessible through the Jack Henry digital banking platform. Sequoir leveraged the Banno Digital Toolkit, the same set of APIs the Banno Digital Platform is built on, to embed its technology into the digital experiences offered by CUs.



First Tech FCU Selects Access Softek’s EasyVest

Access Softek has partnered with First Technology FCU to offer EasyVest which is a robo-advisor solution. EasyVest is designed to complement and scale existing wealth management programs and offers a set of APIs that work with any online or mobile platform.





Hardware News


How to Combat Counterfeit Network Gear

Virtually every type of network device is shadowed by one or more unauthorized doppelgängers. Fake drop-in replacements are particularly prevalent. Routers and switches are perhaps the most frequently counterfeited devices. Counterfeit gear can exhibit degraded performance, unreliable operation and anomalous behavior. There is also the the potential to compromise security and create backdoors. This article concludes that the most obvious sign that a device may be counterfeit is itsl ow price - too good to be true is just that.



Arista Adds to Its Data-Center Switches

Arista Networks has a new high-end data-center switch as well as several smaller ones designed to provide more configuration and upgrade choices to fit the specific needs of individual organizations. The new devices offer a variety of configurations supporting 10Gbps, 25Gbps, 50Gbps, or 100Gbps in a familiar small form-factor pluggable (SFP) form factor, which ensures backward compatibility to the significant installed base of 10Gbps and 25Gbps hosts based on NRZ modulation.



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


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Software Updates


Chrome Now Supports Passkeys

The Google Chrome browser now supports passkeys, a stronger, leak-proof version of a password that can use your phone as a token to authorize you to websites. Passkeys can and will be stored inside the Google Password Manager, or inside apps that support passkeys within future versions of Android. A passkey isn’t a password at all. It’s simply a token that’s stored on your phone. When asked to authenticate you, the token on your phone communicates with the site or app in question. No password is ever used, so no password is ever exchanged or stored.



Microsoft 365 vs Google Workspace: Which Is Better?

Microsoft is working to sideline its traditional office software in favor of its cloud-orientated counterpart Microsoft 365. That in turn is facing serious competition from Google Workspace. This article takes a deep dive into comparing the two platforms.





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In-Branch Card Recycling Machines

Santander is piloting a recycling scheme in select UK branches allowing the public to dump expired or unused plastic cards in a safe and green manner. The six-month pilot involves specialized self-service machines for people to shred their unwanted cards into over a hundred pieces. The cards are recycled into plastic pellets ready to be re-used. Credit and debit cards are typically comprised of several layers of laminated plastic, metal oxide particles, solvents, inks and a magnetic strip, which makes them particularly complex to recycle.



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Wireless World


In 2023 Charter Will Deploy Wi-Fi 6E in the 6 GHz Band

Charter’s Mobile Speed Boost will fully roll out in early 2023. The platform's Wi-Fi 6E can deliver 2 Gbps, and that will grow to 10 Gbps with Wi-Fi 7, which Charter says that they will deploy shortly thereafter.



2022 Sees Satellite to Mobile Get Real

In 2022, the concept of connecting regular cell phones with low Earth orbit (LEO) satellite broadband finally got more real. All of the companies trying to create satellite-to-phone connectivity are also working with terrestrial mobile network operators (MNOs). Vendors include Lynk, AST SpaceMobile, Apple, SpaceX, Omnispace and others.



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Security Section


Amplified Security Trends to Watch Out for in 2023

Thea author predicts that scammers will leverage technological advancements to optimize the effectiveness of their attacks in 2023. He particulary highlights these three threats: Social engineering attacks at scale; Insider recruitment; and Security gaps in misconfigured cloud applications.



Adapt to Shifting Fraud Trends with an Omnichannel Data Strategy

Managing risk becomes more difficult as an FI extends its distribution channels and application capabilities. Each additional channel, as useful as they are, can become a target for fraudsters. To make matters worse, data and processes remain siloed across channels. As a result, it becomes increasingly difficult for fraud teams to identify threats accurately and in a timely manner. This article looks at 4 omnichannel fraud schemes and what can be done to help combat them.





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Technology and Marketing


Small Change Makes a Big Difference at St. Mary’s

The 603 account at St. Mary’s Bank pays 6.03 cents to one of four charities in New Hampshire with every swipe of a debit card. The credit union has committed to donating up to $5,000 to each category. The account is designed to boost membership as well as benefit organizations that support the local community. The charities fall into one of four categories — animals, children and families, the environment, and food and shelter — that members can select for their contributions.



Ways to Mitigate Social Media Dangers

Using social media can expose an organization and employee data, and misuse could harm organizational reputation. This article provides some timely tips that can help reduce the risk.



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Online Banking/E-Commerce/Website Design


Zelle Users Are More Profitable for FIs

Zelle users have higher levels of engagement with their FIs than accountholders not using Zelle, according to a recent study conducted by Early Warning and Curinos. The study found that after a year of using Zelle, the Zelle user conducted an average of five additional monthly debit transactions than before the person started using Zelle.



Payment Card Fraud Losses Reach $32 Billion

Payment card fraud losses worldwide exceeded $32 billion in 2021, of which nearly $12 billion was in the US, according to the Nilson Report. Over the next 10 years, the industry is projected to lose an accumulated $397 billion worldwide, with $165 billion coming from the US. The US accounted for 37% of worldwide losses to card fraud in 2021 even though it only accounted for 23% of card spending at merchants and cash transactions at ATMs combined. Higher fraud losses in the US were attributable to a 25% increase in purchases made by credit cards after a 9% drop in 2020. Also impacting fraud in the US was the continued growth in card-not-present transactions such as those that occur when spending online. Online purchases leave merchants more vulnerable to fraud.



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Internet Access


Google Fiber’s 5-Gig and 8-Gig Plans Are Launching in Early 2023

Google Fiber will offer 5Gbps and 8Gbps tiers starting in early 2023. They claim that 5 Gig will make it easier to upload and download simultaneously, no matter the file size. Meanwhile, 8 Gig will help ensure that everything you are doing online is happening in near real time without jitter and with low latency.



Fivetran Releases Its Cloud Data Warehouse Benchmark

Fivetran has released its Cloud Data Warehouse Benchmark report. In partnership with Brooklyn Data Co., Fivetran studied five major cloud data warehouse vendors and how their platforms have changed and improved since 2020. The report focuses primarily on the big takeaways related to cost, speed and year-over-year improvements.




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Call Centers


Verint and Zoom Expand Partnership for Contact Centers

Verint and Zoom Video Communications announced an additional integration of the Verint Customer Engagement Platform with Zoom Contact Center. They say that Verint Data Management solutions are now integrated with Zoom Phone and Zoom Meetings to help contact centers capture, archive, analyze, ensure compliance, and retrieve interactions.