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Your source for the latest technology information of interest to credit unions across America.

Subscribe to our weekly e-mail newsletter and/or our monthly newsletter and stay on top of the latest technology trends in Hardware, Software, ATMs, Biometrics, Wireless, Online Banking, Marketing, Security, Internet Access and Call Centers.

August 30, 2021

This Week's News is Sponsored by Better Branches ~

BB

 

General News

 

Lafayette FCU Selects Bankjoy for Full Digital Banking Suite

Digital banking provider Bankjoy has signed Lafayette FCU for its full digital banking suite. The Washington, D.C.-based credit union will also pilot Bankjoy’s business banking platform.

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Patelco CU Selects Upstart for Personal Lending

Upstart, a leading artificial intelligence (AI) lending platform, announced Patelco CU has partnered with Upstart to offer AI-powered personal loans to more people.

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Hardware News

 

IBM's New Telum Processor Is the Company's First with an On-Chip AI Accelerator

IBM's new Telum Processor will be the central processor chip for the next generation IBM Z and LinuxONE systems. The processor has a dedicated on-chip accelerator for AI inference and the design improves performance, security and availability. The company said that Telum's performance improvements will allow rapid response times in complex transaction systems, especially when augmented with real-time AI inference.

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Schneider Electric Joins the Hardware-as-a-Service Movement

Schneider Electric is the latest OEM to jump on the on-demand leasing program hardware, in this case the company’s American Power Conversion line of uninterruptible power supplies (UPS). Rather than make a massive up-front purchase, you lease the gear and pay monthly for actual use. The deal is for channel partners to pair APC Smart-UPS solutions with its monitoring and dispatch services to create their own service offering.

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

 

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Software Updates

 

Microsoft Endpoint Manager: What Intune's Successor Does and How It Works

Microsoft's Endpoint Manager combines Intune and System Center Configuration Manager to reduce the time and effort IT admins need to manage desktop and mobile work environments. Along with a single management interface for ConfigMgr and Intune, Endpoint Manager includes the Device Management Admin Center (DMAC), Windows Autopilot, and Desktop Analytics.

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Zoom's New Focus Mode Highlights Meeting Host and Hides Other Participants

Zoom has add a Focus Mode in its latest release that allows the host to display only his or her video to help meeting participants focus on the presentation. A meeting host can see all participant videos, but participants can see only the host. This extends to screen sharing as well.

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How FDX Standards Are Paving the Way for Open Banking in North America

Open API standards are starting to be implemented in the U.S. This article states that they will drive innovation and international collaboration, improve transparency and user consent, and ensure data security. “FDX (Financial Data Exchange) is dedicated to unifying the entire financial services ecosystem around a common, interoperable, royalty-free standard for secure access-permissioned data-sharing,” says Don Cardinal, managing director of the Financial Data Exchange. “We’ve baked in a lot of security protocols and best practices and recommendations along the way, because a spec is only as secure as the folks implementing it.”

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ATMs/Kiosks

 

2 Tips for Designing a User-Centric ATM UI

There are many things to consider when designing a UI for an ATM, such as what color scheme to use, what software package to purchase, how and when to push out upsell messages and how to integrate analytics. The author offers two User Interface recommendations: 1) Don't flood the screen - each "page" of content on the ATM screen should only have a few options, and 2) Make it easy to navigate - when a user clicks on a button, they should ideally never have to click the back arrow unless they accidentally hit the wrong button.

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CU Success Stories  

 

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:  

Xpress Data Inc.

XDI

and their client is:

Sharonview Federal Credit Union

Credit Unions - if you have a vendor that you are happy with then please This email address is being protected from spambots. You need JavaScript enabled to view it.!

Vendors - if you have a credit union that is happy with your solutions then please This email address is being protected from spambots. You need JavaScript enabled to view it. and we will give you a $100 discount on your Case Study!

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Wireless World

 

What CISOs Need to Know About Wi-Fi 6E

Wi-Fi 6E is a technical extension of the Wi-Fi 6 standard to deliver improved Wi-Fi capacity, less interference, and higher throughput. Introduced in January 2021 by the Wi-Fi Alliance, Wi-Fi 6E allows for an increased frequency band of 6 GHz, providing up to 1,200 MHz of additional spectrum compared to Wi-Fi 6. This article goes into depth on the new standard.

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What Consumers Actually Want from Their FI's Mobile App

FIs can improve their mobile user experience by prioritizing several key features valued by consumers. This article provides the following 6 advanced mobile banking features and functions that FIs should consider adopting to stay up with consumer preferences: 1) Upgrading Biometrics; 2) Credit Score Functionality; 3) Easy Connectivity; 4) Seamless Service; 5) Customizable Alerts; and 6) Authentication Control and Log-in Security.

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Security Section

 

Digital Guardian Enhances Endpoint DLP

Digital Guardian announced new enhancements to its endpoint DLP visibility and security controls specifically to secure a hybrid work model. Digital Guardian endpoint web inspection proxy (WIP) provides support across all browsers and extends coverage to both corporate as well as personal collaboration desktop applications Microsoft Teams, Skype, Slack, and Zoom to block users from sharing sensitive information in files and chat.

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Vulnerability Management Is Facing Three Core Problems: Here's How to Solve Them

A holistic approach to vulnerability management includes identifying, reporting, assessing and prioritizing exposures. Instead of merely scanning for security gaps, a comprehensive approach to vulnerability management shows you how those gaps could be exploited and the consequences that could occur. The author states that these are 3 of the most significant problems that organizations face when managing vulnerabilities: 1) Failing to properly prioritize threats; 2) Not using a continuous approach; and 3) Poor communication and unclear organizational structure.

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Technology and Marketing

 

How FIs Can Improve Banking for Hispanic Millennials

Hispanic Millennials represent a quarter of all American Millennials in 2018, according to Statista. This article states that a big cause of the financial stress of Hispanic Millennials is that almost three quarters of them (72%) are providing financial support to their family, compared to 53% of non-Hispanic Millennials. It goes on to cover ways to better serve this niche group.

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5 Digital Marketing Trends You Need to Know for 2022

This article takes a look at 5 of the most important trends in 2022 that will shape your approach to digital marketing and help you make informed decisions when it comes to using technology for business marketing purposes: 1. The Rise of AI in Digital Marketing; 2. Chatbots and Voice Assistants; 3. The Transition to Mobile-First Marketing; 4. Multichannel Marketing For Connected Digital Experience; and 5. Digital Tasks and Marketing Automation.

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Online Banking/E-Commerce/Website Design

 

Goodbye Magnetic Stripe

Mastercard said it will slowly phase out the requirement that its branded cards have a magnetic stripe in favor of the EMV chip. Beginning in 2024, in most markets, newly issued Mastercard credit and debit cards will not be required to bear the magstripe. By 2033, Mastercard said none of its cards will have the technology. In 2020, more than 72% of U.S. card-present transactions were made with chip cards, according to EMVCo, which maintains EMV standards.

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How Should Banking Respond to Embedded Finance Model?

As more non-financial brands embed financial services in their offerings, FIs must decide whether to view this incursion as an opportunity or threat to their existing accountholder relationships and legacy business models. The appeal of embedded banking is to provide an easy and seamless way to deposit, save, pay or borrow without leaving a non-financial company’s app. According to McKinsey, “Companies of all types and levels of maturity – including retailers, telcos, big techs and software companies, car manufacturers, insurance providers, and logistics firms – are considering and preparing to launch embedded financial services to serve business and consumer segments.”

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Internet Access

 

IBM Launches New SASE Service

IBM has announced a new Secure Access Service Edge (SASE) solution designed to encourage the zero-trust security approach. IBM Security Services for SASE will leverage technology provided through a partnership with cybersecurity firm Zscaler. The soution includes the firm's zero-trust strategy protocols, SASE blueprints, a modern network architecture, and Zscaler capabilities, including the creation of processes and policies for managing SASE, as well as support for IBM Managed Security Services.

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Cameyo Introduces Secure Cloud Tunneling

Cameyo announced Secure Cloud Tunneling, their new software that they claim provides greater protection for organizations enabling remote & hybrid work by eliminating the need to open ports in their firewall. The new offering expands upon the firm's native Zero Trust security architecture.

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Call Centers

 

Conversational AI Is Critical for FIs’ Digital Transformation

According to Cornerstone’s What’s Going On In Banking study, heading into 2020, just 4% of mid-size FIs had deployed a chatbot. By the end of the year, that percentage had more than tripled to 13%. They go on to state that there are 3 requirements driving the need for chatbots in banking:1) The need for speed; 2) The need for data; and 3) The need for personalization.

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Stop Fraudsters from Climbing Your Phone Tree

Authenticating callers before they hear “hello” can halt scammers snooping into your interactive voice-response (IVR) system. Confirming the calling phone’s authenticity and matching the calling number to the reference phone number on file allows the contact center to identify and deterministically authenticate callers. To distinguish callers from possible fraud threats, other call signals inform a probabilistic pre-answer risk assessment, such as calling history, call routing and line type. Only risky callers receive stepped-up authentication or the full focus of the fraud department.

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