Subprime Crisis & Its Wider Effects Explored

Consumers Fear E-Payments

The following are members of Credit Union Journal’s Technology Panel.

SEATTLE - Many members won’t touch credit union e-mails with a 10-foot pole, thanks to phishing scams–and some CUs say they don’t know what to do to salvage the low-cost, high-risk marketing tool.

Credit Unions Move To Symitar

SANTA CLARA, Calif. - KeyPoint Credit Union is the one to watch in CU mobile banking, with more than half of all members logging-in to the service.

SALEM, Ore. - Twitter: some describe it as “Facebook-lite,” or a “mini-blogger.” To others, it’s tricked-out instant messaging–“but all of your friends see your message, so it is a little more of a broadcast note about what’s going on,” according to Robbie Wright, a “tweeter” and general manager, fi-linx, the CUSO of MaPS CU here. (See related story, page 25.)

HILO, Hawaii - The one-person mortgage department at $66-million Big Island FCU here doesn’t need to use pen and paper for any part of the lending process, from origination to reconciliation–and hasn’t for more than a decade.

BROOKFIELD, Wis. - Fiserv said its CheckFree FraudNet automated fraud detection and case management system has blocked more than 21,000 attempted fraudulent bill payment transactions totaling $287.9 million since going live in November 2005.

BROOKFIELD, Wis. - Fiserv said it has integrated its automotive lending solutions with Conquest Systems’ WebCEO desktop reporting tool. “This integration allows automotive lenders to generate dashboards and other graphical reports for a better understanding of critical business drivers, statistics and operations,” the company said. “In a difficult lending environment, this tool can help lenders reduce costs and find new sources of revenue.”

MINNEAPOLIS - Wolters Kluwer Financial Services and Fidelity National Information Services announced plans to integrate Wolters Kluwer Financial Services’ loan-modification document solutions and industry-leading compliance content into the loss mitigation module of Fidelity National Information Services’ Desktop platform.

DALLAS - Susan Graham has been named president of Financial Industry Computer System (FICS), succeeding Dawn Gibbs, who is now CEO and board chair. Graham has been with FICS since 1999 and prior to that was with San Antonio FCU.

JACKSONVILLE, Fla. - Fidelity National Information Services Inc. announced the release of FIS Expedited Payments, a secure turnkey solution that enables financial institutions to deploy an online payment option for statements and invoices.

Seattle - AdmitOne Security, a provider of risk-based authentication software for preventing the fraudulent use of digital identities, unveiled its new name, adopted to better reflect its broader security offerings.

DENVER - Ent FCU has agreed to acquire financially troubled US Alliance CU, which racked up one of the biggest losses for 2007, $7.8 million. Ent, Colorado’s biggest CU, has been shopping among the credit union wreckage lately and put in a bid for the remnants of failed Norlarco CU, which were eventually acquired by Public Service CU. US Alliance was founded in 1951 and serves federal employees. It reported a loss of $237,000 for the first quarter and assets of $59.3 million, down from $66.3 million a year ago. Ent is a $2.4-billion credit union serving six surrounding counties. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

BOULDER, Colo. - Synergent, an item processor for credit unions, has teamed up with Parascript and VSoft Corp. to reduce costs associated with manual item capture, processing and delivery, including courier services, using VSoft’s Branch Capture product that includes Parascript’s check recognition technology.

KANSAS CITY, Mo. - Mobile banking is slow out of the gate at many credit unions, with most adoption rates idling well under 10%. But IT leaders wager that as members move toward devices with unlimited data plans and wireless services get cheaper, usage will spike.

FEDERAL WAY, Wash. – An item in yesterday’s CU Journal Daily Briefing incorrectly stated that Diane Percival had been promoted from controller of Woodstone CU to CEO. Her new job title is chief financial officer.

ALBUQUERQUE, N.M. – John Thompson, president of U.S New Mexico FCU from 1979 to 2000, and who served on the boards of both CUNA and NAFCU, passed away on May 8.

BLOOMINGTON, Ill. – Mid-Illini CU yesterday said it has signed with SEDONA Corp. to implement the company’s Intarsia member relationship management system.