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Diebold introduces anti-skimming card reader

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NORTH CANTON, Ohio (7/30/14)--Diebold Inc.'s new ActivEdge card reader is designed to thwart criminals' ability to capture automated teller machine (ATM) users' card data.
 
The anti-skimming card reader prevents all known forms of skimming--the most prevalent type of ATM crime--as well as other forms of ATM fraud.
 
Diebold is a CUNA Strategic Services provider.
 
ActivEdge requires users to insert cards into the reader via the long edge, instead of the traditional short edge. By shifting a card's angle 90 degrees, ActivEdge prevents all modern skimming devices from reading the card's full magnetic stripe, eliminating the devices' ability to steal card data.
 
"Card fraud at the ATM is a serious and prevalent crime that leads to significant losses," said Andy W. Mattes, Diebold president/CEO. "ActivEdge will be a game changer in our industry's fight to protect consumer data."
 
ActivEdge prevents known skimming-related fraud by mitigating criminals' four primary attack vectors: external skimming, internal skimming, USB sniffing and device substitution.
ActivEdge's encrypted technology inhibits criminal modifications to the card reader. Its encrypted communication to the ATM's central processing unit eliminates the ability to fraudulently capture and track data. Each reader is paired with a specific ATM, precluding the installation of fraudulent readers.
 

CO-OP offers new THINK initiative

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RANCHO CUCAMONGA, Calif.  (7/29/14)--CO-OP Financial Services is adding to its THINK initiative with a series of one-day regional events that will focus on enhancing the member experience to attract new members, build loyalty and add revenue, said Stan Hollen, CO-OP president/CEO.
 
The events will include elements of the THINK annual conference, including featured speakers from outside the industry.
 
Hollen said, "We will look at key trends and opportunities for credit union growth. Like our THINK conference, we will do so with a difference--by finding 'insight from the outside' with the help of fantastic featured speakers."
 
The first THINK It Out event will take place on Aug. 20, in Ontario, Calif., and will feature Randi Zuckerberg, former Facebook spokeswoman and director of market development, and current CEO of Zuckerberg Media.
 
The appearance of Zuckerberg and other featured speakers at future THINK It Out events is sponsored by MasterCard, a longstanding CO-OP business partner, which has sponsored the annual CO-OP THINK Prize since its inception in 2011.
 
Zuckerberg spoke at the THINK 14 Conference in May in New Orleans. On Aug. 20, she will again address her own experience of business innovation at Facebook, with an ensuing discussion applying that experience to issues within the credit union movement.
 
The THINK It Out agenda will also include subject matter experts from CO-OP speaking on how to attract younger members, as well as on financial technology advances, including mobile, the Europay MasterCard Visa (EMV) standard, branch transformation and member service. A section specifically on credit, featuring Tim Kolk of TRK Advisors, is also on the agenda.
 
The THINK It Out agenda will remain consistent through subsequent meeting dates and locations, with a different featured speaker planned for each event. With future headlined speakers to be announced, upcoming THINK It Out events are scheduled for Sept. 23 in Livonia, Mich.; Oct. 8 in Washington, D.C.; and Nov. 5 in Pleasanton, Calif.

Cardtronics to acquire Welch ATM for $160M

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HOUSTON (7/28/14)--Cardtronics Inc. will acquire Welch ATM for $160 million under an agreement reached between the two companies last week.
 
The acquisition will add 26,000 U.S. ATMs to the Cardtronics fleet, bringing its global portfolio to 109,000, including 92,500 in the United States.
 
The combination of Cardtronics and Welch ATM will bring together two retail ATM services providers, with complementary customer bases and sales capabilities. Cardtronics has demonstrated success placing ATMs with national chain retailers and forming ATM branding relationships with national and international financial institutions.
 
Welch ATM has established its core strength around delivering ATM services to mid-market retailers such as Rite-Aid and ATM branding to mid-tier credit unions and banks.
 
A combined Cardtronics and Welch ATM organization will also bring together the leading providers of ATM services to Walgreens. The collective Walgreens portfolio totals 5,100 ATMs, which is a significant portion of the retailer's nationwide footprint. Additionally, Welch ATM will add 3,100 company-owned, Rite Aid-located ATMs to Cardtronics' roster of retailer locations.
 

CU24 real-time P2P added to CU Mobile Apps

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TALLAHASSEE, Fla., and FRANKLIN, Tenn. (7/25/14)--CU Mobile Apps and CU24 Thursday announced a strategic alliance to bring POCKET2POCKET, CU24's mobile person-to person (P2P) money transfer service, to CU Mobile Apps' client credit unions.
 
Rick Hargis, managing partner of CU Mobile Apps, cited research findings that growing numbers of potential credit union members are seeking mobile P2P solutions. "Real-time is the critical advantage they're looking for, and that's what CU24 enables us to offer our client credit unions and their members," Hargis said.

POCKET2POCKET is a real-time electronic funds solution, rather than a traditional automated clearing house-based method that can delay funds transfer by anywhere from 24 to 72 hours, said Joe Woods, CU24 vice president of sales and relationship management. "P2P offers a new level of efficiency," he added.
 
The new POCKET2POCKET feature will be added as a tab to the app that existing CU Mobile Apps credit union clients are already accessing, explained CU Mobile Apps partner Tom Gray. 
 
"It works like PayPal within the credit union and financial industry," Gray explained. "Just open your credit union app, click on 'P2P,' identify the person you wish to pay, their cell number and the dollar amount--then hit 'send' and it's done automatically, instantaneously. Our partnership with CU24 has provided us with this quick, easy way for people to pay other people, whether on a one-time or recurring basis, directly from their debit card accounts."

CUNA Mutual adds GoHealth health insurance to TruStage

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MADISON, Wis. (7/24/14)--CUNA Mutual Group announced Wednesday it will launch a health insurance program through a partnership with GoHealth, a private health insurance marketplace.

Through the TruStage health insurance program credit unions will be able to offer their members health insurance from a variety of health plans. GoHealth provides consumers access to all of the plans available on healthcare.gov as well as other carriers.

Using GoHealth's Web-based platform, members will be able to compare health insurance plans, get quotes and estimate available federal tax subsidies--applying them directly to their health plan to receive lower monthly premiums. They can also shop over the phone with the guidance of licensed insurance advisers and apply for coverage.

"As the leading cause of bankruptcy in the U.S., medical bills continue to be a significant stress on many families' finances," said Corrin Maier, director of the MemberCONNECT program at TruStage. "There's also confusion about the changes brought on by the Affordable Care Act. Credit unions are in a unique position to respond--they can help members understand the requirements, give them access to affordable health insurance options and help them protect what matters most." 

To date, Chicago-based GoHealth has helped more than 30 million consumers shop for coverage online with its private health insurance marketplace.

During the next open enrollment period beginning in November, an estimated 8 million credit union members will seek health insurance coverage through an exchange.

TruStage currently protects more than 14.8 million credit union members with insurance products and programs for life, auto, homeowners, and accidental death and dismemberment. The addition of health insurance options advances the company's mission to build financial security for their families.

Credit unions enrolled in the MemberCONNECT program--the conduit for credit unions to make TruStage products available--will receive an invitation to a webinar to learn more about the TruStage health insurance program.

SHAZAM, MasterCard match up for EMV debit

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DES MOINES, Iowa (7/23/14)--The SHAZAM Network Tuesday announced an agreement to make the Europay-MasterCard-Visa (EMV) debit solution available to all of its participants.
 
The EMV chip card adoption is designed to decrease card fraud and increase transaction security. The agreement provides all SHAZAM Network participants with EMV licenses for MasterCard products, helping to achieve the goal of a more secure U.S. payments environment.
 
"The objective of our collaboration with MasterCard was to provide merchants and issuers routing choice for contact and contactless payments supporting PIN, signature or no cardholder authentication," said Terry Dooley, SHAZAM chief information officer. "We're confident this objective has been accomplished through the agreement we've reached with MasterCard."
 
Carolyn Balfany, MasterCard senior vice president of product delivery--EMV, said "Through this agreement the SHAZAM Network and MasterCard have taken another step to advance the U.S. migration to EMV. By streamlining the complexity of EMV implementation, we can advance greater debit card security."

CUNA calculator microsites updated for mobile, customization

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MADISON, Wis. (7/22/14)--The Credit Union National Association has updated its financial decision-making microsite, Credit Union Calculators.
 
The tool is used by credit unions to help their members to experiment with financial variables, showing them rather than telling them why the credit union difference matters.
 
With four new calculators, the update also provides additional options for customization and access to new features. Credit unions can now add their logo and website colors, and can link multiple times to the entire calculator suite, as well as to each individual calculator.
 
The redesigned calculators also are built in a responsive design, making them easy to use with smart phones, tablets and computers, CUNA said.
 
"This easy-to-install but powerful update is all about minimizing the distance between the credit union and its members," said Joanne Sepich, CUNA's director of consumer education. "With mobile access, customization opportunities and automatic updates, credit unions can now demonstrate to their members their ability to respond to changing technology needs."
 
Its tools and features allow members to not only anticipate the impact of their actions, but also to acquire important financial education, including:
  • Multidimensional financial projections;
  • What-if scenario planning;
  • Step-by-step member walkthroughs;
  • Printable reports and detailed graphs; and
  • The ability to toggle variables and observe their effects.
For more information, use the link.