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Jack Henry announced the launch of its next-generation financial crimes platform called Jack Henry Financial Crimes Defender which is a cloud-native fraud and anti-money laundering (AML) solution designed with real-time capabilities. The solution provides real-time detection and prevention of fraud involving checks, deposits, transfers, ACH transactions, and instant payments.
WeStreet Credit Union announced a new Crypto Portal for users to buy, sell and hold their digital currency. The portal was launched in August as an exclusive members-only feature and became available to the public this month. WeStreet has partnered with a Qualified Crypto Custodian, which is a Trust company, providing users with a way to manage cryptocurrency assets through their online banking app.
NewZip, a FinTech that provides digital mortgage solutions, announced a partnership with State Employees' Credit Union (SECU) to enhance the mortgage process. Newzip will help connect members to a home advisor, moving services and transaction support. Their platform uses analytics and algorithms to help find the best real estate agent for home buyers.
Traditionally, the chip market was dominated by large manufacturers like Intel and NVIDIA, but now there is a rising interest among tech giants to have more control over their hardware. The need for custom-designed chips arises from the increasing demand for specialized artificial intelligence (AI) workloads. Off-the-shelf chips may not always be efficient in handling AI tasks, so companies are looking to create chips specifically tailored to optimize AI operations. This customization enables better performance, power efficiency, and cost-effectiveness compared to generic chips. Plus by designing their own chips, they can incorporate unique features and capabilities that give them a competitive edge.
With the use of the Xsign hardware security key, Flexxon says that organizations will be provided with a tailored software platform that syncs only with the Xsign key, thereby granting access to pre-defined users. Beyond its function as a security key, the Xsign also operates as a traditional storage card.
The article discusses how organizations are increasingly exploring and piloting the use of generative AI technology. Generative AI is a form of artificial intelligence that can generate unique content, such as images, videos, and text, without being explicitly programmed. Software development, marketing, and customer service (chatbots) are the areas seeing the highest rate of genAI adoption or investment.
Prevalent's AI-powered virtual assistant named Alfred aims to streamline the risk management process by automating tasks such as risk assessment, compliance monitoring, and remediation planning. It also offers real-time updates and visualizations, and the company states that it makes it easier for users to make informed decisions regarding risk management.
BackBox Network Vulnerability Manager is a new tool designed to provides a consolidated view of vulnerabilities across the network. It also offers features like automated scanning, vulnerability assessment, and prioritization based on risk levels. It comes with a library of over 3,000 pre-built automations and a script-free, no-code way to build new ones.
The concept of a cash-free (or cashless) society has been around for decades. While cash will likely remain around for a long time, there's no doubt that with each passing year the world becomes less reliant on cash and moves increasingly towards digital payments. Yet the authors posit that a cash-free world doesn't mean ATMs will become redundant. They go on to lay out their thoughts on how ATMs will remain a vital delivery channel for a growing range of products and services.
ITMs (Interactive Teller Machines) combine the benefits of ATMs and live video banking. However adoption is always a concern. This article states that ITMs are most successful when an employee walks visitors over and introduces them to the ITM process. It goes on to provide some realt world ITM case studies and recommendations for ITM deployment success.
This article asks the question: Are you ready to give consumers a 'test drive' of your mobile banking app in the form of a demo, video or cheat sheet? It says that if FIs don't have anything available, they may find a third-party video that you have no control over. Recent research by Keynova Group suggests that some things viewed as a “nice to have” — video tours, demos, test drives and other ways of showing how mobile banking apps work — are becoming a “must have” as the digital emphasis grows. Presentation of apps as done in the two stores (Apple App Store and Google Play) “does not provide adequate customer experience insights or activity flows for prospective banking customers to assess digital banking capabilities,” the Keynova report states.
This article presents a list of the top 5 banks and credit unions for mobile banking based on different criteria. These include features like user-friendly interfaces, advanced functionalities, high user satisfaction ratings, and strong security measures. It also looks at categories like Best for Credit Monitoring and Best for Traveling Abroad.
The author concludes that breaches are inevitable - locking windows and doors alone is not enough. So she recommends that organizations need a level of security that escorts users blindfolded to where the building is, then escorts them to the room where they need to go to, then escorts them back out while ensuring that nothing was taken or left behind. Her 5 Zero Trust tips include 1) Start zero trust afresh using a modern approach; 2) Reduce your attack surface using a security cloud; 3) Use segmentation to prevent lateral movement; 4) Deploy fine-grained user access; and 5) Always keep user experience in mind.
Historically, LANs have lagged behind in terms of security, relying on firewalls to protect them. However, Airgap Networks aims to change this by integrating techniques commonly used in telecom networks, such as network slicing and dynamic channel mapping, into enterprise LANs. Airgap Networks' technology works by installing inline devices, referred to as Airgaps, between LAN switches and routers, essentially acting as gateways. These devices analyze network traffic, identify potential threats, and apply security policies to protect against them.
Technology and Marketing
Every age group has distinct attitudes towards credit card use and different priorities when it comes to rewards and features. For instance, baby boomers tend to prefer simplicity, security, and value when it comes to credit cards, while millennials prioritize convenience, customization, and technology. Gen Z, on the other hand, values transparency and socially conscious features. While the author is convinced that generational preferences will drive the next generation of credit products, she adds that it’s crucial to uphold two fundamental principles in the process: be relevant and be respectful.
According to Morgan Stanley, Gen Z takes over as the largest driver of net new loan demand in 2026, when it starts to dominate the key 25- to 40-year-old lending sweet-spot. However, the author points out that the problem is that many FIs find it relatively hard to lend to Gen Z because younger people tend to have “thin files” — credit histories that lack enough detail to enable accurate decision making. His solution to this problem is the use of metadata - he insists that with the right security and privacy safeguards, this is all information that could be used to make more accurate decisions about lending.
Instant payments are becoming increasingly popular worldwide, addressing the limitations of traditional payment methods. Cash is insecure, paper checks require extensive reconciliation management, credit card transactions are relatively costly, and ACH transfers are slow. Among the potential use-cases for the FedNow Service, such as payroll, insurance payouts, government subsidies, and bill payments, FIs also have the ability to tap into new revenue streams from both existing accountholders and entirely new consumer segments. The author concludes that when FIs play a larger role in transactions, they gain access to valuable data about both payers and payees. These insights empower them to better understand their accountholders, offer improved products, and provide personalized recommendations for services, such as loans, savings, wealth management, and more.
Wirex has launched a dual-mode card that combines the functionality of traditional debit cards with the power of blockchain technology, enabling users to seamlessly switch between traditional and cryptocurrency currencies. The dual-mode card will support over 20 traditional and digital currencies, allowing users to make payments and withdrawals at any establishment that accepts Visa.
Security and cloud connectivity requirements are driving today’s SD-WAN buying decisions, according to Gartner, while AI networking support and full-stack SASE capabilities will differentiate vendor offerings down the road. There’s a trend toward AI capabilities that enable networking decisions to be made with little or no human intervention. AI can dynamically adapt network settings and configurations to significantly improve application performance and reduce latency. It can also identify and mitigate potential security threats by continuously analyzing network traffic and behavior.
The pecking order for cloud infrastructure has been relatively stable, with AWS at around 33% market share, Microsoft Azure second at 22%, and Google Cloud a distant third at 11%. (IBM, Oracle, and Salesforce are in the 2-3% range.) While generative AI is certainly the hottest trend in the cloud market, there are other trends that CIOs need to be aware of, and this article dives into seven of them.
Palo Alto Networks has bolstered its cloud security software with features that help customers quickly spot suspicious behaviors and trace security issues to their source to better protect enterprise software-as-a-service (SaaS) applications. The vendor has added a variety of new components, under the moniker Darwin, to its core cloud-security package, Prisma Cloud. With the Darwin release, Palo Alto is adding vulnerability and remediation capabilities along with upgraded visibility and forensics features. It works with another new feature, Cloud Discovery and Exposure Management, that lets security teams discover, evaluate and mitigate unknown and unmanaged internet exposure risks in their cloud environments.
Vishing (Voice Phishing) refers to the act of using voice calls to deceive and manipulate individuals into divulging sensitive information or performing unauthorized actions. While digital Voice over Internet Protocol (VoIP) has been a huge boon for many organizations, it has unfortuantely also provided a much easier pathway for bad actors using auto-dialers, pre-recorded messages, VoIP-enabled Caller ID spoofing, VoIP bandwidth, and untraceable overseas call centers to reach thousands of potential victims with little effort, cost, or risk. This article highlights 5 facets of vishing that contact center managers should consider.
The author states that the divorce rate amongst contact center outsourcers and their clients is higher than the rate of marriage breakdown. Most contact center outsourcing is long-term and strategic, so it’s critical to invest time and effort into finding the right fit and avoiding a future breakup. She is convinced that finding a great fit for an outsourcer boils down to is 3 key pillars: 1) You need clear vision to know what you want and what the market offers; 2) You need to find a great fit - it’s more than about your requirements; it’s about how much trust you can place in the outsourcer; and 3) You need to nurture and build a true partnership, based on common goals and shared values.