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Your source for the latest technology information of interest to community banks across America. Subscribe to our weekly e-mail newsletter and stay on top of the latest technology trends in Hardware, Software, ATMs, Wireless, Online Banking, Marketing, Security, Internet Access and Call Centers.

January 2, 2017

 


Hardware News

BIO-key, a provider of biometric software and hardware solutions, announced some new products for 2017. They include:

- FreePass a wearable, mobile USB fingerprint reader for Windows that is designed for users that want to employ biometric security and convenience on multiple devices

- The TouchLock line of fingerprint biometric padlocks, including TouchLock BLE which is a Bluetooth enabled model that can be operated with a smartphone

- SidePass a compact, mobile touch reader for Windows

Application failures, operating system faults, and other Windows errors are frustrating and sometimes hard to troubleshoot. Fortunately, Microsoft included the Windows Memory Diagnostics Tool in Windows 10, which you can use to test the RAM chips in your system. The Windows Memory Diagnostics Tool performs its test by repeatedly writing values to the memory and then reading those values from memory to verify that the data has not changed. You can chose the Basic mix, which runs a limited number of tests, or the Extended mix, which runs an exhaustive set of tests - for eight or more hours. 

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

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Software Updates

There are many options for disaster recovery packages on the market, but CSO recently covered four top of line packages. The four top DR software suites that they identified were:

- Veeam Backup

- Altaro VM Backup

- Zerto Virtual Replication

- VMware`s Site Recovery Manager

The Nmap Project recently unveiled the Holiday Edition of their open source cross-platform security scanner and network mapper that includes several important improvements and bug fixes. New features in Nmap 7.40 include Npcap for adding driver signing updates to work with Windows 10 Anniversary Update; faster brute-force authentication cracking; and new scripts for the Nmap Script Engine. Over the years, Nmap (Network Mapper) has become a popular network mapping, port scanning, and vulnerability testing tool widely used by IT and security administrators in many industries.

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ATMs/Kiosks

At the recent Future Branches conference, attendees were surveyed on many topics. In terms of the "technology needed in the branch of the future," 63% indicated that enhanced ATMs and video conferencing were their top priorities. Following distantly behind were: mobile at 20%, chatbots at 10% and wearables also at 10%.

According to new data from the ATM Industry Association, ATM deployers reported fewer physical and fraudulent attacks on their machines, but skimming, PIN compromises, malware, and other types of fraud-related attacks on ATMs still remain significant problems for them. Skimming remains the most common attack method with 24% of respondents naming it, followed by PIN observation at 19%. Deposit fraud came in third at 12%, while “shimming,” the theft of data from EMV chip cards, came in fourth at 3%. Nearly 75% of the deployers had no knowledge of or had not experienced malware fraud that compromised card data during the preceding year.

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ATMs/Kiosks Sponsored by
Heritage Industries

 


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Wireless World

Apple's iBeacon technology and Google's entry into beacons with its Eddystone technology (for both iOS and Android) have shown promise but not a lot of implementations. Proponents say that organizations should look at treating the beacon as a sort of smarter card reader. For example, beacons could potentially replace the need for time sheets, with apps able to detect attendance automatically based on when people enter and leave a facility. They can also be used for security purposes in larger buildings, e.g., using a beacon to detect location, a user's smartphone can identify them so they can be restricted to accessing only certain areas.

Moven has come out with a Smart Savings account which provides mobile bankers with behavioral-based savings advice, through an individualized Savings Path. Users setup a wish list of savings goals and the app sends out reminders. Savings goals can include, but are not limited to:

- short term savings

- building an emergency fund

- paying down high interest debt

- long term saving for retirement

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Security Section

Gartner is predicting that cybersecurity spending will top $82 billion in 2016, an 8 percent hike from 2015. Many attribute this increasing level of investments to the fact that threat actors are constantly and rapidly increasing their capabilities. Some CIOs are eyeing tools that use anomaly-detecting analytics and machine learning algorithms to protect their organizations` data. Other analysts agree that organizations will be investing more money in 2017 in emerging technologies that can help anticipate and detect a variety of threats, including phishing scams and advanced persistent threats.

Portnox CLEAR is an agentless SaaS security offering. With risk monitoring and access control of all organizations endpoints, it assigns a risk score, assesses threat and enforces access control actions. The company says that their Portnox Platform is a software solution (no appliances) that traverses across all network layers, whether physical, virtual or in the cloud to illuminate, visualize, analyze and control all connected devices and users.

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Leaders Roundtable

Core Systems:

The Foundation of Your Customer’s Experience

 

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

 

 

smartsolution

 

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Technology and Marketing

While most people are quite familiar with reviews on TripAdvisor and Yelp, Credit Karma customers have contributed thousands of financial product reviews on creditkarma.com. Some banks encourage their customers to write reviews either there or on their own websites. Many marketing experts contend that people are more likely to want to open an account at your bank if your customers seem visibly satisfied with their experience and are willing to share it online. Positive reviews can help with customer retention, and you can use positive reviews as opportunities to ask for referrals.

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Online Banking/E-Commerce/Website Design

The Federal Reserve`s recently released 2016 Payments Study shows that counterfeit fraud accounted for 44% of U.S. payment card fraud last year. That was followed by card not present (CNP) fraud at 39% and then lost-and-stolen card fraud at 11%. However, many card experts are predicting that counterfeiting will soon lose its place as the leading fraud type as more EMV chip cards come into play. In addition to CNP fraud, another big growth area is application fraud. Scammers can perpetrate “synthetic” identity fraud, where they create an identity using the data of more than one individual, or “wholesale” fraud, where they may make up a completely new identity from scratch.

By some estimates, 85% of new account openings occur in the branch, 6% online and 2% on mobile devices. For a variety of reasons, digital abandonment rates remain high. Some industry observers believe that the user experience is lacking, as well as the ability for FIs to integrate digital account technology across marketing channels. According to Celent, many FIs simply do not know why consumers abandon the process, plus there is not enough follow-up for those people who abandon their applications even though they are obviously excellent prospects. The research firm notes that omnichannel integration offers a real solution, particularly because it can permit the applicant to stop an application and then pick it up, at the exact same spot, in a different channel.

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Internet Access

Standalone voice systems are fairly easy to manage, but Unified Communications (UC) is a different story. Nemertes Research notes that by implementing IP telephony specialty management tools or services, organizations can save on ongoing operational costs compared to using no tools or those provided by the IP PBX vendor. LayerX says that their UC Quality and Network Performance solution helps decrease the time required to isolate UC quality issues and resolve the issues, and helps automate the diagnosis of quality issues and interrogate the network as quality problems occur.

Encryption is making good progress on the Internet; in fact, NSS Labs is predicting that 75 percent of all Web traffic will be encrypted by 2019. Organizations of all sizes are making steady progress toward upgrading to certificates that use SHA-2, the set of cryptographic hash functions succeeding the obsolete and insecure SHA-1 algorithm. Many experts believe that no cost certificate offerings, such as those from Let`s Encrypt, will further accelerate adoption, e.g., the number of publicly trusted free certificates issued will soon likely outnumber those that are paid for.

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Call Centers

Efma, an international not-for-profit association comprised of more than 3,300 financial services institutions, recently gave Alior Bank in Poland their Big Data, Analytics and AI award for their development of Dronn, an intelligent virtual agent designed to respond quickly and consistently to consumers and interactively guide them through a personalized conversation. They noted that the solution not only transformed their contact center, but also generated significant cost savings. Dronn uses artificial intelligence, natural language processing, automatic voice recognition, semantic analysis and speech synthesis technology, which enables it to interact with customers in a natural conversational style, understand what they say and respond appropriately.

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