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Synthetic ID fraud fighter SentiLink has expanded its services to include ID Theft Scores as a complement to its Synthetic Scores. The company says that ID Theft Scores offer a new way to target stolen identities used to open CU accounts.
Fintel Connect announced the launch of its latest offering for the financial services industry, Fintel Check, a regtech tool to help CUs keep their content marketing compliant. The solution helps CUs monitor their product and brand content and ensure that critical information like interest rates, terms and conditions, and more are accurately represented in marketing campaigns.
Arm Holdings has introduced the Armv9 microarchitecture, the first overhaul of its CPU architecture in a decade, with heavy emphasis on security and all things artificial intelligence (AI) and machine learning (ML). The major new technology concepts introduced in Arm v9 are the Confidential Compute Architecture and the concept of Realms. Realms are containerized, isolated execution environments, completely hidden from the operating system and hypervisor. Realms can protect commercially sensitive data and code from the rest of the system while it is in-use, at rest, and in transit.
Memory Machine software version 1.2 is designed to allow application vendors and end-users to take full advantage of Intel's latest Xeon processor and Optane memory technology. The company predicts that over the next 10 years, a big memory-based architecture will gradually replace the performance-tier storage we're in today.
Intel has launched the third generation of its Xeon Scalable server-processor line with more than three dozen new chips built on its long-overdue 10-nanometer manufacturing process and featuring a host of specialized features for security and AI. Intel says that the new chips have a 20% improvement in the number of instructions that can be carried out per clock cycle over the prior generation, thanks to the smaller process node letting them cram more transistors into the package.
Now in public preview, Azure Active Directory (Azure AD) verifiable credentials offers an open standards-based approach to organisations re-using verified information about a person. Azure AD is based on the Decentralized Identifiers (DID) core specification, which Microsoft says is "very close" to joining Verifiable Credentials as a ratified standard. Organizations can design and issue verifiable credentials to represent proof of claims - such as about employment or education. Then, the holder of the credential can decide when, and with whom, to share it. Each credential is signed using cryptographic keys associated with the DID that the user owns and controls.
Freedom Northwest Credit Union is constructing an ATM "outpost" instead of adding a new branch. In addition to a multi-function ATM, the outpost will have Wi-Fi, a charging station, air for tires, water bottle filling station, benches, bicycle racks and an American flag.
The ATMIA has released a new paper that outlines their belief that the role of Universal Cash Deposit for ATMs will assist communities and businesses in dealing with the decline in branches, while making cash itself more competitive in order to protect on-going access to cash for all demographic groups. The association recommends that each ATM network around the world implement standard Universal Cash Deposit Transaction functionality. This will allow any citizen or business with an FI account to deposit cash at any cash recirculating enabled ATM in that network, or across networks.
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:
NorthEast Alliance Federal Credit Union
Belgian bank-insurer KBC claims to offer the world's first co-badged wearable in the world, which can be a watch, bracelet, key fob or ring. This means that debit cardholders can easily make payments via multiple payment schemes with various types of devices. They claim that their cardholders with a wearable can now pay for their purchases safely and conveniently in a very user-friendly, contactless and stylish way.
Facebook has begun trialling QR code-based person-to-person payments and personalized payment links. Users can already make P2P payments but the QR code option opens up physical, in-person payments. Venmo already offers a similar service.
nFront Weak Password Scanner is available at no charge to organizations worldwide allowing them to scan their Active Directory "against over 700 million breached passwords in less than one second." The tool can leverage the haveibeenpwned database or a custom file of password hashes.
Phishing emails are one of the most common and successful ways to infect an organization with malware. To protect your organization and employees against malicious email attachments and links, this article offers the following three tips: 1) Attachment inspection; 2) URL inspection; and 3) Behavioral analytics.
As organizations continue to navigate increasingly distributed environments, the question of zero trust is coming up more and more – as is the relationship between this framework and secure access service edge (SASE). The author argues that the two technologies are highly complementary, and goes on to explain in-depth why he thinks you should be using both technologies.
Technology and Marketing
Optimizing the consumer digital experience impacts nearly all aspects of an FI’s website, from usability and accessibility to security to positioning. By implementing some or all of the suggestions listed in this article's “do’s and don’ts,” FIs can better deliver an effective experience online and deliver beneficial business results.
The author believes that in the quest to reach and serve other generations (primarily Baby Boomers and Millennials), Gen X is forgotten or underserved by CUs. Gen X, a smaller generation (numerically) at 65 million, is stuck between (and behind) 72 million Millennials and 70 million Baby Boomers. Gen X has been described as both a “wealth receiver and wealth protector” generation. He goes on to layout three key unique financial Gen X trends, along with areas of opportunity for your credit union.
PayPal executives are promising to build a mobile app that will allow consumers to shop at millions of merchants, while also accomplishing most of what they currently do at FIs. Already, the app’s users can transact with debit cards, borrow to make purchases, pay their bills, get paid by their employers, cash checks, make investments, send money to relatives overseas and more. Thier CEO says that “our digital wallet can bring together previously disparate capabilities that range from payments, to shopping, to financial services, and even new forms of digital identification into one super app.”
The shift toward digital forms of payment accelerated by the pandemic over the past year, but how much of that change will stick once the U.S. market and the rest of the world gets beyond Covid? Overall, Mastercard estimates between 20% and 30% of the shift to digital forms of payment across all retail sectors will be permanent.
About $62 trillion a year in the U.S., travels more slowly than a car, taking up to five days to arrive safely. Orum, a New York startup with about 40 employees, aims to shrink money movement times down to 24 hours. Orem states that in addition to being slow, ACH carries very little data. To bridge this information gap, Orum’s “Foresight” product pulls in extra data through partnerships with FIs and uses machine learning to assess the risk of a transaction.
Secure access service edge (SASE) and network-as-a-service provider Perimeter 81, has announced a new Firewall-as-a-Service (FWaaS) offering designed to enhance the company's SASE platform. Perimeter 81's Network Traffic Control (NTC) offering is aimed at securing the network perimeter and builds upon the company's SASE offering, which includes its Zero Trust Network Access, Zero Trust Application Access, and DNS Filtering products. With NTC, IT teams can create network access policies to secure network traffic inside and outside of their physical network perimeter.
Comcast Business has rolled out a new artificial intelligence (AI) feature for its SD-WAN offering that will allow networks to more proactively respond to service degradation. A new enhanced routing capability developed with Versa Networks will enable a proactive rather than reactive approach, ditching if-then actions in favor of using AI to better understand network conditions and automatically prioritize and route traffic accordingly.
The author states that conversational AI technology can provide a digital-first channel for service engagement that offsets more traditional in-branch and call center interactions. He is convinced that conversational AI holds the potential to unlock the hyper-personalized experiences that consumers crave. He goes on to say that deep integration of AI into an FI’s ecosystem allows an AI-powered virtual assistant to provide categorized, aggregated data and help facilitate transactions, including payments and account opening.