Successfully Navigating the Converged Channel Era

Guest post written by Eric Markiewicz, Director of Global Services Marketing and Offer Management, NCR Corporation

As the most frequently used touch point for credit union members, the ATM plays a key role in an evolving multichannel environment. ATM functionality has grown beyond simple cash withdrawal and continues to increase. Deposit capture and ad placements at ATMs, for example, add new sources of revenue streams, cross-selling opportunities and other personalized member communications.

In this converged channel environment, failure to achieve the highest levels of reliability, availability and security of the ATM can adversely impact the credit union’s brand. At the same time, credit unions recognize that it is neither feasible nor practical to keep ATM management expertise in-house. More and more credit unions are turning to outsourcing strategies, including specialized managed service providers to provide an innovative service delivery model that provides high availability in a secure fashion.

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Data Breach Preparedness and Response – A Handy “How-To”

With the recent headlines about yet another data breach affecting credit unions and their members, I wanted to point you to a resource that might help you respond effectively. Because this isn’t the first data breach and it certainly won’t be the last.

We’ve posted a recording and accompanying slides from a Data Breach Preparedness presentation from the 2012 NAFCU Technology and Security Conference for your information, as you look to how to address this most recent incident.  The presentation was made by Christine El Eris, Director, Product Management for Affinion Group (one of our Preferred Partners, for ID Theft solutions), and focuses on best practices for responding to members, partners and stakeholders during and after a breach. Not surprisingly, Christine stresses the importance of putting steps in place in advance and provides tools and guidelines for breach preparation and response.

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The Supervisory Committee: Focusing on Fraud Detection

Guest post by Jay Slagel, Vice President of Risk Management and Claims for Allied Solutions, LLC.

Credit unions have a “watchdog” looking out for their interests, overseeing operations and ensuring their records are maintained with honesty and integrity: the supervisory committee. The committee has a host of tools at its disposal to carry out its purpose. Among them is an annual audit of the credit union.

Information gleaned from this audit assists the committee in evaluating credit union operations and in making recommendations to the board. The supervisory committee may also perform surprise cash counts, review non-financial transactions or reconcile credit union accounts with an eye toward compliance with laws and regulations. All these activities place the committee in a prime position to catch suspicious transactions or behaviors that may indicate fraud.

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Tips to Prevent Identity Theft

It’s scary how easy it is for criminals to get to our personal information – as technology improves, so do the skills of fraudsters. In fact, I find myself being what some think is paranoid – triple checking for the https in online shop URLs, and shredding almost everything with my name on it. I mean look what happened to Sandra Bullock in The Net – if that could happen in the 90’s just think of what’s possible now!

As trusted financial advisors it’s imperative for credit unions to help educate members about what they can do to help prevent their own identity theft and the losses that often accompany that. Not to mention, the more careful your members are, the less at risk your credit union is of incurring losses due to identity theft. (Check out the landmark case involving Comerica Bank and your potential liability from a phishing scam.)

We teamed up with our Preferred Partner for identity theft, Affinion Group, to gather some key tips for you and your members to help prevent identity theft.

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Top Six (Free) Webcasts in the NAFCU Services Library

Our partners are on the front lines with credit unions every day, and while you may only have experience with your credit union, the odds are that our Preferred Partners have worked with hundreds or even thousands. They can bring perspective and common problem-solving to bear on practically any topic.

At NAFCU Services, we try to help the knowledge transfer process by capturing the expertise of our Preferred Partners in digital format—in webcasts, webinars, podcasts and white papers that are archived in our NAFCU Services Partner Library. We are up to 180 and counting, and best of all they are free to ALL credit unions!

Check out our top six most popular webcasts over the last couple of years:

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