Technology

Minimize Fraud With 'Payment Intelligence'

June 29, 2009
By Tyson Nargassans According to a recent Gartner survey of 5,000 adults, about 7.5% of Americans lost money as a result of financial data breaches in 2008. The survey reports 7% of respondents had their debit card data used and 6% had a new account opened under their names. In... READ MORE

Hold the Paper

June 17, 2009
Removing paper from the lending process improves efficiency, cuts costs. Patrick Totty With its efficiency, cost savings, convenience, and eco-friendliness, paperless lending is poised to catch on with credit unions, vendors say. “Paperless will emerge in a fast way once credit unions embrace e-signatures,” says Philip Elwyn, vice president of... READ MORE

The Member-Centric Future

June 17, 2009
Macro trends will have a profound effect on CUs. Mark Sievewright Credit union executives often ask me to provide input during their strategic planning process. For example, what do I see in the broader financial services market, and how can credit unions position themselves for success? Typically, I share the... READ MORE

Payments Don't Have to Mean Risk Exposure and Loss

May 28, 2009
By Wences Casares As the nation races toward a cashless society where debit and credit cards are swiped for lattes and burgers, new payment technologies are evolving that provide even greater benefits. But credit unions, merchants, and members may not realize the distinct differences in local versus global payment types... READ MORE

Handheld Hazard

April 23, 2009
Mary Mink While portable digital devices afford convenience, they also make it easier to steal CU data and disrupt operations. Take note: Glue guns aren’t a reliable form of information security in the age of smartphones, MP3 music players, laptop computers, digital cameras, and thumb drives. Countrywide Home Loans, Calabasas,... READ MORE

Safety With Style

March 30, 2009
Patrick Totty Aesthetics play a bigger role in CUs’ physical security. “Physical security” is a catch-all term including objects and processes ranging from bullet-resistant laminates to electronic countermeasures against fraudsters to high-tech solutions for retrieving stolen money. In each measure used to ensure a credit union’s physical security or the... READ MORE

Chat It Up With Members

March 30, 2009
Judy Dahl Online, real-time text chat gives members another way to connect with your CU. When they want quick, accurate answers about their finances, text chat is the go-to channel for some members. To use it, a member simply types a question into a chat window on the credit union’s... READ MORE

'One Phish, Two Phish...'

March 30, 2009
James Collins Dr. Seuss would have a field day with phishers. It all began late on a Friday afternoon, when the first e-mail hit: “Dear Sirs: I recently received an e-mail from you, telling me that my home banking was disabled. I wish to thank you for sending me this... READ MORE

What Next for Card Fraud?

March 27, 2009
Dianne Molvig The cat-and-mouse game of card fraud has CUs and vendors scrambling. Fortunately, CUs can take steps to reduce fraud risk. In August 2008, the Justice Department indicted 11 people for allegedly stealing millions of consumers’ credit and debit card information from TJX, BJ’s Wholesale Club, OfficeMax, Boston Market,... READ MORE

Who Needs a 'Human' Interface?

January 23, 2009
James Collins If the site’s typography doesn’t look like a ransom note, you’re not trying. Personally, I find paying a professional to design a Web page a bunch of hooey. (Definition: something inherently useless. Synonym: Congress.) Fact is, information technology (IT) folks have developed Web pages for years. But a bunch... READ MORE

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