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Posted: Aug 31, 2017
Comments: 0
Author: Alexis Nab

A perspective from someone in your target market

Editor's Note: This article was previously published on CUInsight.com and has been modified.

I have a confession to make - I am a millennial. But I’ll let you in on a secret, I’m not that millennial. The one you read about in online articles. See, despite the fact that I love my ridiculously priced Starbucks drinks or know the whereabouts of my phone 99% of the time, who you are reading about in these articles, isn’t my identity - I’m more than just a buzzword.

 

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Posted: Aug 24, 2017
Comments: 0
Author: Lou Grilli

But, that’s all about to change to the delight of smartphone users.

Entering a PIN on a physical pad of numbered buttons has just surpassed being a 50-year old technology, created with the first ATMs. The current security requirements around PIN management and transmission, ISO 9564, dates to 1991.

Today’s smartphone users are accustomed to tapping PINs on their screens, to unlock the phone and access mobile banking. But to make a debit transaction, the consumer still needs to press the buttons on the PIN pad. Security certification of dedicated hardware-based PIN pads assured that the PIN could not be compromised, and could be transmitted securely. “PIN on glass” implies entering PINs on many different phones, tablets, built-in screens on gas pumps, kiosks, etc. This represents a new challenge, because these screens are inherently software devices that potentially can be modified remotely, infiltrated by malware, or hijacked by fraudsters.

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Posted: Aug 17, 2017
Comments: 1
Author: Lou Grilli

How credit unions can make their members data less valuable on the dark web.

The dark web has been in existence since the 1990’s but has become a household word lately through ads from identity protection companies that offer to monitor the dark web. The ads warn a subscription-paying customer if their data may have been compromised and put up for sale.

The dark web is where fraudsters conveniently sell breached data such as usernames and passwords, credit and debit card data, alongside complete identities, passports, drugs, guns, and worse. The dark web, and the crimes associated with it, is a big and sophisticated business. There are fraudsters that

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Posted: Aug 10, 2017
Comments: 3

An update on credit or debit EMV chip cards

Fallback occurs when a credit or debit EMV chip card cannot be read at a chip terminal when inserted and is processed by swiping the mag stripe. Fallback is typically seen in a market where EMV is first being introduced. An incorrectly configured terminal, terminals that are not set up to process “chip and PIN”, terminals that have not been programmed to route transactions over some networks, and in rare cases, defective chips within the card, are all potential or legitimate reasons for a chip card to not be capable of being read properly at the terminal. In these cases permitting the cardholder to complete the transaction by swiping the mag stripe card at the terminal seems like the proper way to minimize customer inconvenience.
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Posted: Aug 2, 2017
Comments: 0
Author: Lou Grilli

It could happen.

There’s been lots of hype claiming that Zelle, the recently launched P2P service by several major banks and credit unions, is the “Venmo killer”, alluding to the fact that financial institutions are staving off the onslaught of tech companies looking to make inroads into the banking industry.

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