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

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May 3, 2021

This Week's News is Sponsored by Better Branches ~

BB

 

General News

 

Jack Henry Enhances Gladiator Virtual Information Security Officer Service

Jack Henry's ProfitStars division has announced the availability of its enhanced Gladiator Virtual Information Security Officer (vISO), which now offers a Governance, Risk and Compliance (GRC) Software as a Service (SaaS) online platform.

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FIS Unveils RealNet, a Network-of-Networks Approach to Real Time Payments

FIS announced RealNet which is a cloud-based, software-as-a-service platform that enables businesses, consumers, and governments to initiate account-to-account transactions. RealNet, which FIS describes as a network of networks, will leverage The Clearing House Payment Co. LLC’s real-time payment network, in addition to the automated clearing house’s same-day network, to speed up the processing, clearing, and settlement of payments.

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Hardware News

 

Dell’s New PowerEdge XE8545 Server: 5 Key Features

Dell EMC's new PowerEdge XE8545 server uniquely combines AMD and Nvidia technology with the company’s high-end server line. The PowerEdge XE8545 is designed for accelerated workloads and ideal for machine learning, HPC and GPU virtualization. This article covers five key features in Dell EMC’s new PowerEdge server.

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The Top Tablets for Business Professionals

There are now a multitude of tablets available that can fill a vital role for different types of professional users—in some cases, even replacing a work laptop entirely. If you're in the market for a new tablet, this article recommends looking at these options: Apple iPad Pro; Samsung Galaxy Tab S7/S7+; The Microsoft Surface series; Samsung Galaxy Tab Active Pro; and HP Elite X2 G8.

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

 

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Software Updates

 

Petal Offers Alt-Data Underwriting Tech to FIs

Petal, an online credit card provider, has started offering its cash-flow-based underwriting technology to FIs. The software, called Prism Data, will be available through an application programming interface. It takes raw FI account data and translates it into a picture of potential borrower’s credit risk, identity, financial status and more. It does use credit report data where it’s available.

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Microsoft Teams Enhances Content Sharing

Microsoft has released a number of new and improved features in the latest public preview edition of its Teams app. There is a new content sharing tray designed to help you more quickly find and select the content you wish to share. Selecting the Window tile shows you a list of all open windows so you can pick the one you want to share. The PowerPoint Live feature lets you choose a PowerPoint file to share from the most-recently used list or from your computer or OneDrive. Also you can more easily decide whether to include sound from your computer when you share a screen or window.

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What to Consider Before Implementing Windows Server DFS Replication

One of the really handy things about Microsoft’s Distributed File System (DFS) is that it allows you to replicate files between file servers. However, DFS replication was never intended as a replacement for traditional backups. Another thing to consider before enabling replication is the type of replication group that you want to create. This article goes on to dive into many DFS details to consider when deploying it.

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ATMs/Kiosks

 

The Data Focused Approach to ATM Security

ATM systems were built for a different era. Not only have user behaviors changed, but the threat landscape has also evolved. The author states that now is the time for a new approach – to focus on protecting the data itself, while adding comprehensive application control to block unauthorized processes. Making sure that all data is encrypted at the file level means that any information stolen by an insider or through external attack is rendered useless to the thieves. He also recommends AI-powered application control that blocks anything from running that is not on a personalized ‘allow list’ from a central management server.

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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:  

Network Box USA

NetworkBox

 

and their client is:

Community Resources 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

 

Five Steps to Financial Services App Modernization

The author contends that FIs have a wealth of data at their disposal to create unique experiences for their accountholders and compete against FinTechs. He says that surrounding core systems with microservices and APIs to access things like account balances provides the scale and ease of access developers need when building new mobile app features, such as payments or financial planning. He goes on to layout 5 things to consider when building out apps.

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Rethinking Mobile Security in a Post-COVID Workplace

This article recommends that you create a corporate-only LAN, and all corporate devices must use that LAN and only that LAN. That means a laptop solely used for work purposes. As for phones, they should corporate-only as well. This will sharply reduce your exposure to any of the demons coming from work from home consumer-grade devices. It also states that now is the time to upgrade your BYOD (bring your own device) policies/procedures or revisit your Mobile Device Management (MDM) configuration decisions.

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Security Section

 

Biometrics Promise Consumers and FIs Freedom from Passwords

Password help is on the way — sporadically — as biometrics become the standard for securing access to computers, applications and websites. Howver, the article states that eliminating passwords can “confound people’s expectations, make them uncertain about login security and reduce UX/CX.” It adds that hardware-based facial recognition is better than software alone, and then looks at finger, palm, facial, voice and iris biometrics.

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AML Analytics Introduces Red Flag Tests

AML Analytics announced the launch of Red Flag Tests. Using synthetic data to validate transaction monitoring system rules, Red Flag Tests will help analysts understand if a system is working correctly to mitigate financial crime risks. The system uses millions of synthetic transactions to help identify weaknesses in a transaction monitoring system’s alerting capabilities so that analysts can eliminate time-wasting inaccuracies and tune the system to drive increased performance.

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Technology and Marketing

 

4 Tips for Launching a Successful Data Strategy

Becoming a data-driven organization isn't as simple as amassing loads of data. In this article, four CIOs offer their experience and advice on getting started turning data into business value.

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Online Banking/E-Commerce/Website Design

 

Digital Money Transfer Market Report

A new study from Juniper Research predicts that digital domestic money transfer transaction values will rise from $2 trillion in 2020 to $3.4 trillion in 2025, driven by growth of mobile money transfers. Mobile transactions will represent an 89% share of total transaction value by 2025, with drivers of volume growth being P2P payment apps in developed markets and mobile money in emerging markets, according to Juniper. The research identified that to compete in a congested market, mobile money transfer apps must leverage instant payment capabilities to ensure the best user experience.

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Pandemic's Acceleration of Digital Banking Exposes Trouble Spots

The Covid boost to digital-only usage was beyond remarkable. In 2019 digital-only consumers represented 30% of consumers, versus 55% who used digital and branch. Over the course of 2020, digital-only users advanced by 11 percentage points, to 41%. However, this digital-only situation has left some consumers feeling out of touch because digital communication has not always been effective, welcome or personalized sufficiently to make up for the lack of human contact. This article suggests some remedies for these digital trouble spots.

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Comparing U.S. Faster Payment Channels

There is a lot of confusion around faster and real-time payments. This article attempts to shed some light on the various options (same day ACH; Zelle; Mastercard Send; Visa Direct; FedNow; RTP; Fedwire; Venmo; and Cash app) and their pros and cons.

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Internet Access

 

Best VPN 2021: Expert Reviews of the Best VPN Services

Here is a summary of top choices in VPN service providers and how to get set up them up quickly: ExpressVPN; Surfshark: NordVPN; IPVanish; and ProtonVPN.

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SpaceX Starlink Beta: What It Is and When You Can Get It

The FCC estimates that about 19 million Americans are without "access to fixed broadband service at threshold speeds" and approximately one-quarter of the people in rural communities are without access. The Starlink website says its fleet orbits close to Earth and this results "in lower latency and the ability to support services typically not possible with traditional satellite Internet." Currently, orders for new service will be fulfilled on a first-come, first-served basis. However, there are still a limited number of users per coverage area at this time. Meanwhile, Amazon, has its own Internet-blasting satellite program called Project Kuiper which has received FCC approval, but it is also in its early stages.

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Call Centers

 

Chatbots Gone Rogue: How Weak Chatbot Security Enables Bad Actors

As with any automated process, great care should be taken to make chatbots robust and secure. This article looks at "man-in-the-middle" attacks, in which a third party can access a chatbot conversation, as well as other types of chatbots attacks.

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