Your source for the latest technology information of interest to community banks across America.

Subscribe to 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.

December 19, 2022

December 19, 2022 - December 23, 2022
Credit Union Tech-Talk
Credit Union tech-talk News
Your source for the latest technology information of interest to credit unions across America.

Merchant Processing Success Webinar Series

Card processing for merchant services is an integral part of your mission to serve business members. Payment processing is the lifeblood of your business members, and CUs want to help them succeed in their endeavors.

To offer business members and potential new business members the best service possible, your CU needs to provide the best merchant processing services program possible - these Webinars will help you achieve this goal.

Who Should Attend: Heads of Retail Banking, CEOs, CFOs, Treasury Management staff, and anyone at the CU interested in boosting non-interest income.

Speaker: James Cantlen has over 20 years of payment processing experience with FIs, payment processors, merchant acquirers, and ISOs. He has successfully created and implemented marketing campaigns for FI partners resulting in increased revenue streams. He is highly experienced in building partnerships between FIs and processors and very proficient in payment data analysis.

Cost: Complimentary

Best Practices for Starting a Merchant Services Program

As a non-interest income generator, a quality Merchant Services program can help your CU grow your commercial book of business while capturing a new stream of deposits. This session is geared towards smaller CUs that are looking to establish a Merchant Services program quickly with a referral option and enjoy new streams of revenue.


Top Techniques for Quickly Boosting Your Merchant Services Program

Under-performing Merchant Services programs are unfortunately commonplace. However, this situation can be alleviated by following the sage advice provided in this session. You will be shown how to efficiently analyze your operations, quickly provide warm leads to your staff on a branch by branch basis,, and improve your program's overall performance.


Strategies for Boosting Your Merchant Services Program with Referrals

Do you want to start a referrals program, or super charge your existing referrals program? This session will show you how to do it. We will look at how top notch training and referral incentives can help boost confidence and motivate your staff to cross-sell highly profitable merchant services to business members.


Agent Programs Can Take Your Merchant Services Program to the Next Level

A well run Agent Program can close more deals and maximize your residual portfolio. This session will show you how to implement an Agent Program that can take your revenue to higher levels.


Grow Non-interest Income with Simple Analytics

Come learn how to analyze your business accounts with these 4 benefits: 1) Provide a list of the payment processors that each of your business members are using; 2) Provide a list of warm prospects that your staff can cross-sell your merchant services to; 3) Provide a proactive way to stop cannibalization of your lending/depository dollars; and 4) Provide a means to dramatically increase non-interest income.


How to Build a Highly Profitable Merchant Services Program

Having a Merchant Service program in place is one thing, but making it a highly efficient and profitable program is another thing altogether. Come learn some best practices, tips and techniques for boosting merchant services income and cross-selling to business members.


Successful Strategies for Fending Off FinTechs

Payments is the most popular area for FinTechs to usurp from your CU. If you really want to respond to the FinTech movement constructively, you must be proactive in working with small business members to deliver a quality Merchant Services program that caters to their unique payment needs. This session will cover some proven strategies for delivering a quality Merchant Services program that can help you compete with FinTechs and grow your commercial book of business.


~ This Week's News is Sponsored by Better Branches ~

Better Branches

General News


IMM and Compliance Systems Form Partnership

IMM and Compliance Systems announced a strategic partnership to provide CUs a more streamlined, digital-first banking platform with embedded compliance. IMM’s eSignature platform, IMM eSign, will be integrated with Compliance Systems’ compliance document technology solution.



Jack Henry Adds New Policy Management Solution to Governance, Risk, and Compliance Suite

Jack Henry has launched a new policy management solution to its Governance, Risk and Compliance (GRC) Suite. It will help streamline policy creation, review, approvals, attestations and exceptions with workflows, documentation, and storage.


Back to Top ↑


Hardware News


Ransomware Is Coming for Your Backup Servers

Backup and recovery systems are at risk for two types of ransomware attacks: encryption and exfiltration – and most on-premises backup servers are wide open to both. In response, teh author insists that backup servers should be the most updated and secure systems in the data center. They should be the hardest to login to as Administrator or root. And they should require jumping through the most hoops to login remotely.



WatchGuard Boosts Security with New Appliances

WatchGuard released its Firebox NV5 VPN gateway tabletop appliance and the AP332CR, a new Wi-Fi 6 access point for rugged or outdoor deployments. Combined with WatchGuard Cloud to deliver one platform for centralized security management, they claim that both the NV5 and AP332CR are easy to deploy, configure, and report on through WatchGuard’s Unified Security Platform framework.


Back to Top ↑

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

Back to Top ↑

Software Updates

Software Section Sponsored by
Aurora Advantage (A Product of CSPI)

Aurora Advantage



QuantyPhi Releases Enhanced Mortgage Servicing Rights Valuation Model

QuantyPhi has released an enhanced Mortgage Servicing Rights (MSR) valuation model offering. The company said that they built the “sophisticated model to calculate the value of a credit union’s mortgage loan servicing income on loans that have been sold, but for which the servicing rights are retained as an income stream.”



AI in Fintech: 4 Ways AI Impacts on Financial Industry

AI can help reduce unnecessary expenses and streamline financial management. The author states that these are the most prominent ways AI impacts finance: 1) Improved service levels; 2) Cost reduction and workload optimization; 3) Enhanced security; and 4) Data-driven decision making.


Back to Top ↑



Facial Recognition: A Top Challenge/opportunity for ATMs

Facial recognition has found its way into our lives and is growing in popularity. According to industry data, the facial recognition market in 2020 was valued at a whopping $3.8 billion. Self-service kiosks with facial recognition have also been implemented at airports and border crossings. This article goes on to look how it can be applied to financial services kiosks and ATMs.



Back to Top ↑

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:



and their client is:
NorthEast Alliance Federal 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!  

Back to Top ↑

Wireless World


Are Mobile Banking and Payments Capabilities the Answer to Your Cardholder Acquisition Problem?

A security Boulevard survey discovered that over half of respondents choose to engage with their FI on their mobile phone via a banking application rather than at a branch or via a website. Additionally, respondents who opened a new checking account within the last 18 months, 43% did so via a mobile application, while 27% opened one at a branch and 26% did so via a website. They conclude that the results are clear: American consumers have come accustomed to the speed and simplicity their mobile device provides and FIs should plan accordingly.



Contactless Payments to Reach $164B

The contactless payments market will reach $164.15 billion by 2030 and adoption of payments technologies, such as host-based card emulation and near-field-communication, are driving growth. Those are research data points from Grand View Research Inc. which also predicts the market will also grow at a compound annual growth rate of 19.1% during the forecasted period.



Back to Top ↑

Security Section


Report Reveals Surge in Fraud as Digital Transactions Dominate the Global Marketplace

Nearly 10% of all new account openings and 5% of password resets represent a fraud attack, according to a new LexisNexis report. Pandemic-driven digital transaction growth continued to attract fraud attacks, with global businesses recording a 32% jump in the human-initiated attack rate over the past 12 months, while high-velocity automated bot attacks were up 38% YoY.


Back to Top ↑



Leaders Roundtable

Core Systems:

Enabling Innovation with the Help of Core Systems

Aurora Advantage (A Product of CSPI) - http://www.auroradigitalbanking.com
Read Brian Dougherty's comments:

CU*Answers - http://www.cuanswers.com
Read Geoff Johnson's comments:

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

Back to Top ↑


Technology and Marketing


Wings Financial Scores Major Points with Its Amazon-Loving Members

Members at Wings Financial Credit Union ($7.9B, Apple Valley, MN) have redeemed more than 10 million points in the first weeks after the Twin Cities CU launched its Shop with Points rewards program with Amazon.com. Members can use their credit card reward points to shop for any of the more than 12 million products Amazon sells on its site, which now accounts for more than half of all e-commerce sales in the US. This article details how the program works.



3 Ways Digital Signage Can Improve Branch Design

Digital signage is a display that delivers content on a loop (or for more advanced deployments, trigger-based content based on time of day, weather, consumer data or other information). This article looks at how digital signange offers three specific tools: 1) Delivering the brand message; 2) Guiding the branch visitor; and 3) Training employees.


Back to Top ↑

Online Banking/E-Commerce/Website Design


Mastercard Focusing on 5 Key Areas to Turn Crypto into 'An Everyday Way to Pay'

Mastercard has outlined five key crypto areas it is working on in order to “turn cryptocurrencies into an everyday way to pay.” A Mastercard executive opined: “Someday soon, the ability to own and spend a digital currency could be as seamless as making a contactless card payment.” The author reveals the 5 ways that the card giant plans to incorporate crypto into their offerings.



Zventus Intros 'FinTech-in-a-Box-' Solution

ventus has launched FinTech-in-a-Box, a consumer lending solution to help FIs compete with fintechs. They claim that the solution supports lenders interested in entering new markets by eliminating the costs of infrastructure, technology, people, and processes, providing all the capabilities they need in these areas wrapped up in a box.


Back to Top ↑

Internet Access


How to Create Hybrid Cloud and Edge-Cloud Consistency with Azure

If you are running part of your system in a public cloud and other business-critical operations on-premises, on the edge, or in a private cloud, you are operating a hybrid cloud environment. This article explores the steps and guides on how to create cloud consistency with Microsoft Azure.


Back to Top ↑

Call Centers


Zoho Combines Bots & Human Intervention

SaaS provider Zoho has launched several new tools for Zoho Desk, the principal application in the company's service platform, including so-called blended conversation—a combined human-driven and bot-powered conversational service—as well as several refinements to its user interface to better support people with accessibility needs. One new tool is blended conversations, which combines Zoho's Instant Messaging (IM) Framework and its guided conversations tool to balance human intervention with bot-powered automation. The guided conversations feature was launched by Zoho in 2021 and functions as a low code, self-service platform that allows organizations to create virtual agents to guide consumers through the initial stages of inquiries.


Back to Top ↑


Credit Union tech-talk is the credit union movement's only technology newsletter dedicated solely to credit unions.

Published by:
Thomas Wright
TRW Enterprises, LLC
P.O. Box 16052
St. Louis, MO 63105

Toll Free: 800 808 2188  International: 314 368 9870

© 2022 Credit Union tech-talk cunews.com - All Rights Reserved

It is not our intent to send you unwanted e-mail - if you should wish to discontinue the weekly news service, please click {unsubscribe}Unsubscribe Here {/unsubscribe}.

(If that doesn't work, please This email address is being protected from spambots. You need JavaScript enabled to view it. here as a last resort).