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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.

July 1, 2019


Hardware News

 

Using Tech to Redesign Branches

The article posits that future branches with have a smaller physical footprint, along with advanced ATMs and video conference capabilities that will deliver a more open feel. Many FIs remodeling their branches are opting for digital signage solutions and video walls, plus tablets, such as those from Apple or Microsoft, are also increasingly being deployed.

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Hardware Section Sponsored by
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Software Updates

 

How FIs Can Prepare for CECL

Current Expected Loss Standard (CECL) is widely expected to revolutionize the way FIs report losses. CECL emerged from a new set of standards issued by the Federal Accounting Standards Board (FASB) in 2016. One observer stated that FIs “need to decide what data will be collected and the process as to how it will be done. The main things you'll need will be loan-to-deposit ratio, debt-to-income ratio, and credit score.” Other CECL advice is offered in this article.

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Artificial Intelligence - a Multidimensional Technology That Can Mitigate Risk and Increase Revenue

Well designed Artificial Intelligence decisioning platforms can leverage at massive scale behavioral, contextual, personal, and relationship signals. This enables real-time identity verification based on an advanced understanding of how an actor’s behaviors change as it moves through time and space. Identity has changed in the digital age to be: 1) Personas (who we are); 2) Relationships (who we know); 3) Context (signals around us); and 4) Behavior (what we do).

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ATMs/Kiosks

 

Diebold Nixdorf Unveils DN Series

Diebold Nixdorf unveiled the DN Series which is a digitally-connected line of ATM solutions. The company says that it is powered by DN AllConnect Services that helps provide connectivity by leveraging IoT technology with big data and machine learning to help drive improved availability and performance.

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Independent Deployers Take over FI ATM Sites

RBR’s Global ATM Market and Forecasts to 2024 report analyzes different types of ATM deployer and their ATM location strategies. They note that FIs across the world are rationalizing their branch and ATM networks in response to continued growth of card and mobile payments and falling branch footfall. This has created opportunities for independent ATM deployers (IADs) operating with a lower cost deployment model. Over half of the world’s IAD ATMs are found in North America.

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Wireless World

 

When to Use 5G, When to Use Wi-Fi 6

5G is a cellular service, and Wi-Fi 6 is a short-range wireless access technology, and each has attributes that make them useful in specific business roles. The promise of 5G for enterprise users is higher speed connectivity with lower latency. 5G will gradually roll out over the next four to five years starting in large cities and specific geographies; 4G technology will remain prevalent for a number of years. Meanwhile, Wi-Fi 6 (802.11ax) is the latest version of Wi-Fi and brings the promise of increased speed, low latency, improved aggregate bandwidth and advanced traffic management.

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Mobile Devices Must Be About More than Digital Banking

Instead of treating omnipresent smartphones solely as the gateway to digital banking, the author asks why not tap them to be the focal point for all relationships in all channels with accountholders? He suggests that people can use them to check in at a specific branch, authenticate interactions, digitally sign documents and more.

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Security Section

 

FIs Prevented $25 Billion in Fraud Using Visa AI

Visa announced new analysis showing Visa Advanced Authorization (VAA) using artificial intelligence (AI) helped FIs prevent an estimated $25 billion in annual fraud. VAA is a risk management tool that monitors and evaluates transaction authorizations on the Visa global payment network, VisaNet, in real time. Visa processed more than 127 billion transactions between merchants and financial institutions on VisaNet last year, and employed AI to analyze 100 percent of the transactions—each in about one millisecond.

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Why Businesses Need IAM to Push Their Zero Trust Frameworks Forward

This article states that the idea of simply protecting the network perimeter has grown to be an archaic perspective on security. It goes on to cover how zero trust models can be built around strong identity and access management tools.

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Technology and Marketing

 

Banking’s CRM Conquerors

FIs looking for tangible value from a new CRM platform should know two things: 1) real-world stories of lessons learned and successes of early adopters are a great source of intelligence and guidance, and 2) implementing a CRM system will prove more challenging than anyone expects. This article shares lessons learned and tells a few stories of real CRM Conquerors that have realized a true impact from their CRM platform investments.

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Online Banking/E-Commerce/Website Design

 

How ACH Business Payments Pave the Way for US Open Banking

The author thinks that small to mid-size businesses rising preferences for ACH, and new FIs’ emergence as digital-first financial service (FinServ) players, are ushering Open Banking into the U.S., even without regulatory mandates as seen in areas like the U.K. and Europe.

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TransferWise to Open Borderless Account in US

TransferWise is the latest fintech unicorn to try its hand at breaking the US, taking its borderless bank account and debit card across the pond one year on from its launch in Europe. Their founder says "our goal is to offer bank details for every country in the world through one borderless account — the world’s first global account. Since launching in Europe we’ve seen extraordinary customer take-up, with over $10 billion held in deposits so far.”

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Internet Access

 

IPv6 Upsides: Faster Connections, Richer Data

The business advantages of IPv6 are many, including direct consumer access to websites, faster end-user experiences with Internet applications, and the opportunity to gather data about visitors to applications as well as measure visitors’ engagement and conversion.

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CloudGenix Unveils CloudBlades for Cloud-Delivered Branch Offices

CloudGenix launched CloudBlades, a platform that can give branch offices all the IT services they need, such as cloud-based SD-WAN, security, and voice services, as well as multi-cloud access and operational tools in one place, without any additional hardware or software.

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Call Centers

 

Help Agents Manage Emotions During Difficult Caller Interactions

How do you help your agents manage their own emotions during difficult caller interactions? This article provides some helpful tips.

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