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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.

October 25, 2021

This Week's News is Sponsored by Better Branches ~

BB

 

General News

 

Three More Indiana CUs Choose Sharetec

Sharetec announced that three Indiana CUs have made the decision to move to Sharetec: Riverside Community FCU, located in Marion, T.H.P. FCU, located in Terre Haute, and Whitewater Regional FCU located in Connersville.

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IMM Unveils eReceiptsPlus

IMM has released eReceiptsPlus. The company’s patent-pending, cloud-based technology features real-time, remote-sign capabilities, enabling members to complete end-to-end digital transactions, including remote embedded signature capture, directly from their mobile device via text message.

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Hardware News

 

Aruba Drops DPU-Accelerated Switches

Aruba Networks has tapped data processing unit (DPU) vendor Pensando to accelerate its latest switch series. The CX 10000 is the first in a new series of what Aruba is calling a distributed-services switch, which combines traditional layer 2-3 switching with Pensando’s Elba DPU. The vendor claims the appliance will open the door for organizations to operate, scale, and secure their network infrastructure the same way hyperscalers have for years.

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Enterprise Data Storage Environments Riddled with Vulnerabilities

Despite a dramatic increase in ransomware attacks, enterprise storage and backup environments have a dangerously weaker security posture than the compute and network layers of the IT infrastructure, new research shows. Continuity's research found that security gaps are systemic and appear in multiple domains — awareness, planning, implementation, and control. The most common security risks included vulnerable or poorly configured protocols, unpatched vulnerabilities, overly permissive access rights, insecure user management and authentication controls, and insufficient logging of administrative, security and access activity.

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

 

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Software Updates

 

Understanding the Differences Between DLT and Blockchain Technology

Distributed Ledger Technology (DLT) and blockchain technology are designed to serve many of the same functions, but it’s important to understand how each one works. This article covers some basics that will help, including a few of the more significant differences.

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A First Look at Windows 11’s Advanced Storage Features

Windows 11 has arrived, and it includes a number of advanced storage features. This detailed article takes you step by step on how to access them and what you need to know.

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ATMs/Kiosks

 

Future-Proofing the Modern ATM

Covid-19 has accelerated investments into low and no touch banking experiences at the ATM. The article suggests that AI is a big driving factor behind ATM user segmentation which strives to provide the most relevant service to the right person at the right time at every ATM visit.

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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:  

RPost

RPost

and their client is:

University of Iowa Community 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

 

Contactless Payments Research Report

A new Juniper new report, Contactless Payments: Trends, Opportunities and Market Forecasts 2021-2026, recommends that FIs enhance their mobile contactless payment wallets with value-added services, such as loyalty schemes and personal financial management, to differentiate their digital wallet services in this competitive market. According to Juniper, the research found that low trust among consumers is a key hurdle digital wallets face - consequently, it urges wallet vendors to increase support of biometric authentication in their services.

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Security Section

 

How to Select a DLP Solution

Data loss prevention (DLP) has become even more important in the last year. To select a suitable DLP solution for your business, you need to think about a variety of factors. This article features interviews with 10 industry professionals to get their insights on this topic.

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6 Ways the Pandemic Has Triggered Long-Term Security Changes

The author recommends the 6 following data security strategies: 1) Faster adoption of zero-trust access models; 2) Controls to protect a broader attack surface; 3) Regulatory requirements will change to address new risks; 4) Stronger authentication and persistent encryption; 5) Better network visibility and monitoring; and 6) Evolving cyber risk management practices.

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Leaders Roundtable

Core Systems:

Optimizing Your Core System


Celent - http://www.celent.com
Read Stephen Greer's comments:
https://www.cunews.com/Celent.pdf

 
Enhanced Software Products - https://www.espsolution.net
Read Matt Lefler's comments:
https://www.cunews.com/ESP.pdf

Member Driven Technologies - http://www.mdtmi.com
Read Matt Baaki's comments:
https://www.cunews.com/MDT.pdf

Symitar - http://www.symitar.com
Read Shanon McLachlan's comments:
https://www.cunews.com/Symitar.pdf

TCS - http://www.tcs.com
Read TCS BaNCS Global Banking Team's comments:
https://www.cunews.com/TCS.pdf

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Technology and Marketing

 

26 Predictions for Social Media Marketing in 2022

New trends - like audio social, the accelerating growth of eCommerce, the migration to hybrid work models and the evolving metaverse for digital connections - are playing a part in what’s coming next in the social media space. So what can you expect to see from Facebook, Twitter and the rest in 2022? The author runs through a platform-by-platform overview of key trends you can expect to see take shape in the 12 months ahead.

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Digital Banking Industry Leaders Forum

Thought Leadership From Around the Industry by Credit Union tech-talk and Finopotamus:

Benchmarking Your Digital Banking Strategy


Humanizing Digital: Increasing Account Holder Loyalty and Exceeding CU Goals with Smart, Flexible Solutions

Alogent
 

Digital Transformation: A Credit Union Imperative

The Digital Banking Market Is Heating Up

Three Present-Day Goals to Revolutionize Your FI’s Marketing

eSignatures Are Now a Top Priority Across the Nation

Fight Fraud by Better Understanding Your Financial Data

It’s Always About the People: 5 Rules for Digital Banking and Beyond

 

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Online Banking/E-Commerce/Website Design

 

Federal Reserve Rolls out Resources Ahead of Instant Payment Launch

The Federal Reserve has launched new resources for the payments industry to facilitate education, preparation and ecosystem innovation in support of instant payments, a type of faster payment that provides payees with immediate access to funds, enabled by real-time final settlement between FIs. The Federal Reserve’s new instant payment tools and support include: The FedNow Explorer website; The Ecosystem Accelerator Group; and A new Service Provider Showcase.

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Growth Is Impossible Without Faster Digital Checking Account Opening

This article posits that improving the digital account opening experience is mandatory for any FI. Checking account openings through digital channels exceeded branch openings in 2019, according to Cornerstone, with the percentage of accounts opened digitally accelerating significantly since the pandemic. The primary reasons for not being able to complete a digital account opening without a branch visit were ID verification (73%), signatures (61%), documentation (51%) and the application itself (27%).

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X1 Rolls out Smart Credit Card

X1, the challenger credit card for digital natives founded by former Twitter executives, is rolling out of private beta to a waitlist of 350,000 people. The stainless steel X1 Card uses current and future income instead of credit scores to set smart credit limits. The startup's proprietary technology also lets cardholders cancel subscription payments in one click, end free trials automatically with auto-expiring virtual credit cards, get instant notifications on refunds, attach receipts to purchases, and create virtual cards for one-time use.

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Internet Access

 

Penetration Testing in the Cloud Demands a Different Approach

Attackers use a different set of techniques to target the cloud, meaning defenders must think differently when pen testing cloud environments. Many cloud vulnerabilities are often missed because pen testers are focused on data center techniques and not cloud tactics. Security gaps are not addressed by compliance frameworks and not recognized by DevOps or security teams. The vulnerabilities attackers use to breach cloud environments tend to be architectural issues or process problems, as opposed to a version of a library that has a flaw.

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Why Gartner Thinks Multicloud Is a "Terrible Idea" to Deliver Resilience

Gartner is convinced that multicloud failover is complex and costly to the point of nearly almost always being impractical, and it's not an especially effective way to address cloud resilience risks. They state that the huge cost and complexity of a multicloud implementation is effectively a negative distraction from what you should actually be doing that would improve your uptime and reduce your risks, which is making your applications resilient to the types of failure that are actually probable.

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Call Centers

 

An Argument for Cloud-Hosted Phone Systems

Increasingly it has become standard for small and midsize organizations to opt for cloud direct connect systems, which connects a private network to a cloud service solution, thanks to its flexibility and low-cost setup. The cost involved in installing cloud-based telephony is primarily directed towards paying for the softphones or endpoints, as well as user training and the monthly rental fee for the hosted system. One advantage of cloud telephony is that unlike traditional on-premise phone systems, it transcends geographical boundaries and allows you to connect to your callers whenever and wherever.

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