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March 13, 2023

This Week's News is Sponsored by Better Branches ~



General News


Darktrace Launches AI-Driven Vulnerability Detection, Alert System

Darktrace's new AI-driven vulnerability detection and alert system is designed to help organizations proactively identify and respond to potential security threats. The system, dubed Newsroom, uses machine learning algorithms to analyze network data and help identify anomalous behavior that could indicate a vulnerability or attack.



Carat Introduces Omnichannel Fraud Prevention Suite

Carat, a new omnichannel fraud prevention suite from Fiserv, is designed to help CUs combat fraud across all channels, including online, mobile, and in-person transactions. It includes transaction monitoring, identity verification, device recognition, and machine learning-powered fraud analytics.



Co-Op Solutions Debuts a Debit Network for CUs

CO-OP Financial Services has launched a new debit network called CO-OP Debit that is designed to provide CUs with an alternative to traditional debit networks. They claim that it includes lower transaction fees, faster settlement times, and greater control over the debit card user experience.





Hardware News


Dell's Flagship XPS 15 and XPS 17 Laptops Are Getting an Upgrade

Dell's popular XPS 15 and XPS 17 laptops are getting a boost for their 2023 editions. The new models feature 11th-gen Intel Core processors, improved graphics capabilities, and better displays. The new XPS laptops also come with a range of other features, including faster RAM, improved cooling, and longer battery life. The XPS 17 in particular is noted for its large 17-inch display and thin bezels, which allow for a more immersive viewing experience.



Pure Storage Debuts Denser Blade-Based Flash Storage System

Pure Storage's new blade-based flash storage system, FlashArray//C, is designed to provide higher storage density and lower cost-per-GB than previous Pure Storage systems. FlashArray//C is built on Pure Storage's FlashBlade architecture, which is designed to provide high-performance storage for unstructured data. The new system features denser storage blades than previous systems, allowing it to store more data in a smaller physical footprint.



How to Choose the Right Business Projector

There are several factors to consider when selecting a projector, including brightness, resolution, contrast ratio, and connectivity options. This article discusses different types of projectors, such as LCD and DLP, and their relative advantages and disadvantages. The article also provides guidance on selecting the right projector for different types of applications, such as boardroom presentations, classroom instruction, and digital signage.



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


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Software Updates


Veeam Backup for Microsoft 365 V7 Helps Strengthen Data Protection

Veeam Backup for Microsoft Office 365 version 7 is designed to provide enhanced backup and recovery capabilities for Office 365 users. Version 7 offers several new features and enhancements, including improved backup performance, expanded search capabilities, and the ability to archive data to AWS S3 and Glacier storage.



Key Considerations for AI in SMB Lending

According to this article, AI has the potential to help FIs improve their lending processes by providing faster, more accurate credit decisions and reducing the risk of defaults. It outlines several key considerations, including data quality, algorithm transparency, the importance of balancing AI with human expertise and judgment, and the need to ensure that AI is used ethically and in compliance with regulations.



Microsoft Touts New GPT-Powered Chatbot for Dynamics 365 CRM, ERP Apps

Microsoft announced a new AI-powered chatbot, named Customer Service Insights (CSI), designed for its Dynamics 365 CRM and ERP applications. CSI is part of Microsoft's broader strategy to integrate AI capabilities into its business applications, and also leverages data from Dynamics 365 to provide personalized recommendations and insights.





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Card Skimming Grew Dramatically Last Year and Shows No Signs of Slowing Down

Card skimming incidents grew dramatically in 2021, with a 77% increase in incidents reported in the US compared to the previous year. 3,000 unique FIs were affected by a compromise, a 79% jump from a year earlier. Overall, non-FI ATMs were favored targets of skimmers, representing 80% of the points of compromise. Unfortunately, this trend is expected to continue, as criminals continue to target vulnerable payment terminals and ATMs.



Why CUs Should Focus on ITMs in 2023

ITMs (Interactive Teller Machines) can provide a variety of benefits for CUs, including improved member engagement and satisfaction, increased operational efficiency, and reduced costs. The article notes that staffing ITMs with FinTech experts can help CUs fully leverage the capabilities of these machines and provide a high-quality member experience.



4 Must-Have Features in ATM Testing Software

Four must-have features in ATM testing software are highlighted in this article. The first must-have feature is automated testing capabilities. The second must-have feature is a comprehensive test suite that covers all ATM functions, including cash dispensing, deposit processing, and card reader testing. The third must-have feature is an easy-to-use interface that allows non-technical users to create and execute test scripts without requiring programming skills. The final must-have feature is the ability to integrate with other ATM management tools and systems, such as remote monitoring and maintenance systems.



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Wireless World


To Be Competitive, FIs May Need a Mobile Wallet That Leverages Their Retail Banking Prowess

This article states that if FIs are to compete against the likes of Apple Pay and Google Wallet in the mobile-wallet arena, they are going to have to provide value-added features that leverage their retail-banking products, such as money management and loyalty accrual and redemption. Overall, the article suggests that FIs have the potential to be competitive in the mobile wallet space by leveraging their retail banking prowess to provide a more comprehensive financial solution. However, achieving this will require significant investment and collaboration with other players in the digital payments ecosystem.



Mobile Banking Trojans Surge, Doubling in Volume

A recent report from Kaspersky found that the number of mobile banking Trojans increased from 61,045 in 2020 to 121,484 in 2021. This increase is attributed to the growing use of mobile devices for banking and financial transactions, as well as the increasing sophistication of attackers. Mobile banking Trojans are typically distributed through phishing attacks. The article goes on to recommend several precautions that mobile bankers can take to protect their accounts.



Digital Wallet Growth Will Enable More Closed-Loop Transactions

According to a report by ARK Invest, a digital wallet adoption could reach 65% of the global population by 2030. The report suggests that the increasing popularity of cryptocurrencies and the rise of decentralized finance (DeFi) will drive the adoption of digital wallets. The report also highlights the potential benefits of digital wallets, including financial inclusion, reduced transaction costs, and increased security. It notes that digital wallets could also facilitate the adoption of cryptocurrencies as a means of payment. However, the report also acknowledges several challenges to the widespread adoption of digital wallets, including regulatory uncertainty, security concerns, and user experience issues.



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Security Section


ManageEngine Adds Security and Risk Posture Management Dashboard to Log360

ManageEngine Log360 solution is designed to provide IT teams with improved visibility and control over their organization's IT infrastructure. The dashboard feature allows users to view and analyze security-related events and activities in real-time, providing them with the information they need to identify potential security threats and take appropriate action. The dashboard also includes customizable widgets and charts, enabling users to tailor the display to their specific needs.



$1.4B in Suspected Wire Fraud Identified by CertifID in 2022

According to a report released by CertifID, a digital verification platform for real estate transactions, there was a significant increase in wire fraud attempts in 2022, with $1.4 billion in suspected wire fraud identified by the platform. CertifID's platform is designed to provide a secure way for parties involved in real estate transactions to verify wire instructions and prevent fraudulent activity. The platform uses multi-factor authentication and digital certificates to ensure that wire instructions are legitimate and that transactions are secure.





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Technology and Marketing


Best Practices to Localize Your Branch Designs

Localizing branch designs can help FIs to connect with visitors and communities, creating a more personalized and engaging experience. The author recommends these 5 best practices for localizing branch designs: 1) Understanding the local community; 2) Incorporate local artwork, imagery, and other design elements; 3) Offer local products and services; 4) Create a welcoming environment with amenities like refreshments, comfortable seating, and free Wi-Fi; and 5) Provide personalized service.



How to Ask for More Social Media Budget for Personalization

Personalization in social media is an important factor in building engagement, as it allows FIs to deliver tailored messages based on accountholder preferences and behaviors. The article explores how marketing teams can get buy-in from leadership to start personalizing and investing more money for social media marketing. It recommends the following 4 strategies: 1) Target the right people; 2) Craft the right message; 3) Present the right data; and 4) Decide the right timing.



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Online Banking/E-Commerce/Website Design


Visa, Mastercard Pause Crypto Push in Wake of Industry Meltdown

This article states that Visa and Mastercard have paused their plans to push into the crypto industry following the recent market meltdown. The companies reportedly had plans to offer crypto-related services to their customers, but the recent volatility and sell-off in the market have caused them to reevaluate their plans. Reportedly, they are concerned about the regulatory environment surrounding crypto and are also worried about potential losses that could result from market instability.



How to Advance Consumer Financial Wellness and Power a Digital-First Banking Strategy

The author suggests that digital-first banking strategies can help consumers manage their finances more effectively, with features such as real-time account updates, spending tracking, and personalized financial advice. He recommends connecting the raw data that accountholders generate—such as mobile banking app usage, spending behaviors and patterns and so on—with their back-office servicing systems and data stores. He concludes that connecting these platforms allows staff to work together across functional silos to create new digital experiences and to share data and analytic insights to build better, more personalized decisions.



Embedded Banking Solutions Are Assuming a Higher Profile for Software Vendors

Embedded banking refers to the integration of banking services, such as payments processing and lending, into non-banking software applications, such as accounting software or point-of-sale systems. By embedding banking services directly into their software, vendors can offer seamless payment processing and other financial services without requiring customers to leave their software environment. Vertical markets where demand for embedded banking is strong include the childcare, hospitality, pharmacy, property-management, restaurant, and veterinary industries. By some estimates, embedded financial services will become a $230-billion business in 2025.



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Internet Access


Akamai Technologies Releases New Service and Tools to Help Stop Advanced Threats and Drive Zero Trust Adoption

Akamai Technologies has a new offering called Akamai MFA (multi-factor authentication) Everywhere that provides a cloud-based multi-factor authentication solution that can be integrated with various applications and services, including remote access and VPN solutions. The service supports a range of authentication factors, including biometrics, smart cards, and mobile push notifications. In addition to the new MFA service, Akamai has also introduced several new tools and services aimed at helping organizations adopt a zero-trust security model.



Artificial Intelligence Helps Solve Networking Problems

As networks become increasingly complex and dynamic, traditional network management approaches are becoming less effective. This is where AI comes in, as it can help automate many aspects of network management, including monitoring, troubleshooting, and optimization. For example, AI-powered network analytics tools can help identify performance issues and potential security threats, while AI-driven automation can help streamline network operations and reduce manual workload.



DuckDuckGo Debuts AI-Based Search Using OpenAI and Anthropic Language Models

DuckDuckGo has partnered with OpenAI and Anthropic, two companies focused on developing AI technologies, to create a new search experience that uses AI to help better understand users' search queries and deliver more relevant results. The new search experience, called "DuckDuckGo Instant Answers," uses natural language processing (NLP) and machine learning (ML) to analyze users' queries and provide answers that are more accurate and useful. The system uses large language models developed by OpenAI and Anthropic to understand the meaning of users' queries and provide relevant results.




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Call Centers


The Changing World of Work: What’s Trending in the Contact Center in 2023

The authors predict that going forward contact centers will require an omnichannel approach, AI-powered automated self-service options, remote workforces, and new technologies and tools that optimize work-from-home environments. They see four key trends affecting contact centers in 2023: 1) Declining agent populations; 2) Cloud licenses surpassing on-premises installations; 3) Voice joining the digital revolution; and 4) AI enabling personalization and automation at scale.



Qualtrics and Five9 Partner to Help Improve the Contact Center Experience

Qualtrics and Five9 announced a partnership to integrate Five9’s cloud contact center solutions with Qualtrics Frontline Care. Qualtrics CustomerXM customers using the Five9 platform can now automatically deploy dynamic post-interaction surveys. Additionally, Service agents are alerted immediately following a negative interaction and can follow up directly through voice, chat, or email using Qualtrics Ticketing.