Reg Z Compliance Help Offered
MINNEAPOLIS-Wolters Kluwer Financial Services announced the company can help financial institutions begin preparing to meet the Federal Reserve Board's (FRB's) new Regulation Z requirements that take effect on Oct. 1. Wolters Kluwer Financial Services' Compliance Management Services professionals can be deployed on-site at institutions to help them revise policies and establish a systematic process for checking mortgage applications against the FRB's new higher-priced mortgage threshold and help update loan-processing procedures to meet the FRB's higher-priced mortgage requirements.
For info: www.wolterskluwerfs.com
NGN Reaches 1,000 CU Mark
ATLANTA-CO-OP's Next Generation Network (NGN) "switch"-the technology that makes shared branching transactions possible-now reports 1,000 participating CU clients. In addition to shared branching, CUs using NGN can access various EFT end-points, including CO-OP Fast Branch kiosks, CO-OP My Deposit (home deposit) and CO-OP Mobile (mobile banking). Almost 1,300 CUs currently offer shared branching through CO-OP Shared Branching (1,000 of these use the NGN platform), representing more than 80% of all shared branching participants.
For info: www.coopfs.org
Bling Nation, PhoneFactor Team Up
OVERLAND PARK, KS-PhoneFactor, a provider of security products and services, announced that Bling Nation has selected its phone-based authentication technology to protect bank customers from fraud and identity theft. Bling Nation enables financial institutions to support payments between their local demand deposit account customers and their merchant customers by bypassing the current global debit payment model. One of Bling Nation's key fraud prevention features requires consumers to validate high-ticket and suspicious transactions through PIN entry on their phone before transactions are authorized. PhoneFactor enables this two-factor authentication on consumers' mobile phones by having them authenticate not only the specific transaction, but also the amount.
For info: www.phonefactor.com
Westerra CU Selects TCI Solution
HAUPPAUGE, N.Y.-Westerra CU has purchased TCI's DecisionLender for its auto indirect lending program. "Our first priority was that we wanted one loan origination platform that provides connections to DealerTrack, RouteOne and CUDL," said Shawn gibbons of Westerra CU.
For info: www.tcicredit.com
