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

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July 5, 2021

This Week's News is Sponsored by Better Branches ~

BB

 

General News

 

Happy Money Enters Partnership with Blue FCU

Happy Money and Blue FCU, a Wyoming-based CU serving more than 100,000 members, announced a strategic partnership in consumer lending. Happy Money connects CUs with next-generation members who want to eliminate credit card debt via their Payoff Loan.

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Fiserv Offers New CRM

Fiserv has launched EnteractSM, a new, cloud-based customer relationship management (CRM) platform. Enteract features a Microsoft Azure-based integration framework that synchronizes member data with back-end systems and enables real-time process integration across core banking, enterprise content management and digital channels.

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Hardware News

 

Dell’s Versatile UltraSharp 4K Webcam Uses AI to Keep You in the Frame

Dell has launched a high-end UltraSharp webcam that costs $199 and aims to serve as a more affordable and easier-to-set up alternative to mounting a DSLR camera behind your monitor. The UltraSharp is a USB-C webcam that houses a Sony STARVIS CMOS 8.3-megapixel sensor. It’s capable of recording or streaming in 4K at 30 or 24 frames per second and in 1080p or 720p at 24, 30, or 60 frames per second. It also features an AI auto-framing mode that lets it follow your movements to keep you centered in the frame.

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

 

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Software Updates

 

Microsoft 365 Rolls out Updated Content Sharing Tools

Microsoft plans to roll out a series of updates to the Microsoft 365 productivity and collaboration suite to make its content sharing tools more robust. The company has identified five key areas they will be focusing on for these sharing updates: 1) A simpler method for modifying link permissions for viewing, commenting, or editing files; 2) A better sharing process for colleagues outside of an organization; 3) A more concise and informative display of who has been granted access to files; 4) Boosting user awareness of in-app sharing features and encouraging users to share without leaving the app; and 5) Adding sharing directly inside of Microsoft Teams without leaving the app.

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74% of Q1 Malware Was Undetectable via Signature-Based Tools

Organizations relying on traditional signature-based tools to detect security threats would likely have missed roughly three-quarters of malware samples that hit their networks and systems last quarter, a new analysis shows. Attackers have consistently gotten better at repackaging old malware in ways that its binary profile doesn't match previous fingerprints and patterns used to detect it. Exacerbating the issue is the continued use of fileless or living-off-the-land (LotL) techniques that are explicitly designed to evade traditional detection tools, which focus on inspecting files and registry entries.

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ATMs/Kiosks

 

AccuCash Intros Teller Cash Recycler

AccuCash has introduced its AC-TCR Teller Cash Recycler to help remove the demand on tellers counting and handling cash. The solution features high-speed counting through a continuous feed deposit and flexible currency configuration with dual denomination cassettes.

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Teller Assist Technology Remains a Cornerstone in FIs’ Cash Management Strategies

RBR’s Branch Transformation 2021 reveals that the migration of cash away from the teller, declining footfall in branches, and a wider shift towards cashless payments led to a slight fall in teller assist units (TAUs) in 2020. However, the number of teller cash recyclers (TCRs), which account for the majority of TAUs, increased, and it is recycling technology which will drive growth over the coming years. Recyclers are credited for their capacity to boost efficiency at the teller line, as they allow for the automation of cash handling at the teller counter, drive up the speed at which tellers can serve visitors and reduce the number of cash-handling mistakes.

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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:  

BAE Systems

BAE

and their client is:

Gas and Electric 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

 

U.S. Banking Habits Shift Strongly to Mobile Use

Since YouGov began tracking the adoption of mobile banking, the share of weekly mobile bankers has increased by 22 percentage points. Now, in 2021, more than half (56%) of U.S. adults indicate they use mobile banking once a week or more often. Over the past year, one in five Americans (21%) say they use mobile banking to manage their money on a daily basis (versus 9% of U.S. adults in 2017).

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Never Mind 5G. This Is What 6G Could Look Like

Nationwide 5G coverage is available in the US from the big three providers and the next-generation wireless technology is rapidly maturing. Each wireless generation lasts about a decade, so 6G is a long, long way from becoming reality. While 6G will undoubtedly bring even higher speeds, a key benefit will be using those radios to sense your surroundings as well as to ferry information. This article explores more about 6G.

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Security Section

 

FFIEC Releases New Examination Booklet

The Federal Financial Institutions Examination Council (FFIEC) issued a new booklet in the FFIEC Information Technology Examination Handbook series, titled “Architecture, Infrastructure, and Operations.” The booklet provides expanded guidance to help examiners assess the risk profile and adequacy of an entity’s information technology architecture, infrastructure, and operations. The new booklet replaces the “Operations” booklet issued in July 2004 and it provides examiners with fundamental examination expectations regarding architecture and infrastructure planning, governance and risk management, and operations of regulated entities.

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This New Free Tool Lets You Test If Your Cybersecurity Is Strong Enough to Stop Ransomware

CISA's Ransomware Readiness Assessment allows organizations to test how well their networks can protect against and recover from ransomware attacks - and provides advice on improvements. The CISA tool asks users to answer a series of questions about their cybersecurity policies with the aim helping organizations improve their defences against ransomware. It focuses on the basics first, before moving onto intermediate and advanced questions and tutorials.

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Technology and Marketing

 

Top Social-Media Marketing Essentials

Some research shows that people spend, on average, 145 minutes a day on social media. The author argues that social networking does not have to be complex for smaller organizations; you only have to follow the basics to get started. He goes on to elaborate on how to cover the basics.

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Online Banking/E-Commerce/Website Design

 

Mastercard's New Feature Called “Flip”

Hong Kong-based digital banking platform Mox Bank and Mastercard recently revealed a smart new feature, referred to as “Flip.” Flip will be available on the “all-in-one” numberless Mox Cards which allow cardholders to flip freely between spending via their debit and credit card accounts.

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What Are Digital Banking Platforms?

Digital banking platforms are financial services provided solely online—as opposed to online banking which refers to specific online banking components that also have brick-and-mortar operations (known as traditional banking). Digital banking platforms rely on process automation, web-based services, and APIs to create fully digital banking services.

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Digital Channels Remain Popular for Bill Pay as Covid Fades

In looking at how consumers’ use of digital channels, such as websites and mobile apps, has grown during the first half of 2021 from the second half of 2020, an ACI report found that 21% of consumers were using these channels to pay their bills, compared to 16% during the second half of 2020. When it comes to consumers’ preferred method for paying bills digitally, biller websites top the list, with 36% using them during the first half of 2021, compared to 33% during the first half of 2020. FIs’ mobile apps are the next most-favored digital channel for bill payment, with 32% of consumers using them to pay bills during the first half of 2021, compared to 27% during the second half of 2020. Billers’ mobile apps are the next most-favored digital channel for bill payment.

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Internet Access

 

Remote Work Amplifies the Need for a Strategic Cybersecurity Plan

FIs face increasing disruption to their businesses, ever-rising IT costs, and a wider-than-ever technological surface area, creating more and more security vulnerabilities. This article seeks to dispel three myths that give rise to ineffective cybersecurity strategies and underscore the importance of “Defense in Depth” for full infrastructure visibility, cyber-threat detection, and incident response and remediation.

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Musk Says Starlink ‘Nice Complement’ to Fiber, 5G

Elon Musk sees Starlink, the SpaceX low-earth orbit (LEO) satellite broadband venture, as a complement to terrestrial 5G and fiber, as the service works to connect remote and hard-to-reach places around the globe. Starlink has over 1,500 satellites launched and recently reached 69,420 active users. He noted that Starlink provides latency similar to fiber and 5G, with an aim of getting it below 20 milliseconds.

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Transition to Cloud Helped CU Easily Weather the Pandemic Storm

This article features an interview with Mike Upton, CTO and digital officer for First Technology FCU, about the CU's move to remote work and its success during the COVID-19 pandemic.

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Call Centers

 

12 Better Ways to Start a Service Email

The author challenges your contact center agents to write something fresher, less scripted-sounding, more personal or better aligned with your organization’s brand voice than you current canned email responses. She offers 12 options that might improve your email replies in this article.

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