Microsoft's Office Live Small Business closes

Many customers of Microsoft's cloud-hosted email and website hosting suite won't make the deadline to transition to another service.

Image source: Brunning

Microsoft is sticking to its plan to shut down its Office Live Small Business (OLSB) suite of cloud-based services, even though it seems many customers are either unaware of the deadline or are having difficulties migrating.

It's unclear how many OLSB customers remain oblivious to the suite's impending shutdown. OLSB is used primarily for email communications and website hosting.

Does your credit union use this cloud service from Microsoft? Read more to see if you've missed the deadline.

5 Tips For Handling Complaints On Social Media

Social media can amplify your credit union's message. It can also do the same for your members when they have a beef with you.

Image source: Rude Cactus

One important tip is to consider offering particularly upset members the chance to address their issues in a different forum, such as a phone call, email, or feedback survey. Just don't make it inconvenient or difficult to do so. Otherwise, you might be making a tough situation worse.

Some large enterprises are beginning to devote entire teams to interacting with their customers in the social realm; smaller companies such as credit unions rarely have that luxury.

Here's some advice on how your credit union can handle negative customer feedback on social platforms without becoming overwhelmed.

VMware Breached, More Hypervisor Source Code To Come

A hacker revealed stolen VMware source code and documents from Asian defense contractors, promising more disclosures in May.

Vulnerabilities are the main cause for concern in the wake of VMware's confirmation that source code dating to 2003 and 2004 had been publicly released by a hacker.

One hypervisor security worry has been "escape to hypervisor" attacks, which would allow an attacker to escape from a given virtualized machine and potentially access any other virtual machine running on the same server.

VMware is downplaying any security threats that might result from the ESX source code disclosure, promising that VMware would update its customers as it learns more. Read the full article here to find out what might happen next.

5 tips for surviving a cloud outage

2011 was a brutal year for cloud outages, from Amazon's big one in April to dozens of others. The article includes the top 5 steps experts say enterprise IT shops should take to avoid cloud outages from knocking them out.

Image source: Krech

The more mission critical the data and compute resources are, the more protections for resiliency and high availability the customer should put in place.

Despite improvements by cloud providers to minimize future outages, more outages will inevitably happen this year and beyond.

Are you prepared for what 2012 holds? Read the full article here to find out.

Making Mobile Banking Safe

Balancing convenience versus risk presents new security challenges credit unions have yet to conquer as online banking shifts from desktop to mobile.

Image source: Attili

Increasing customer demand for the convenience of mobile banking is forcing the financial industry to listen and deliver. However the same security measures used for online desktop banking don’t really translate over to mobile technology, thus leaving a lot of catch-up to be done to this end.

Typically loaded with personal user data including contacts, physical location, baking information, etc., the mobile platform is a goldmine for hackers, and in the midst of all the confusion surrounding how to make it secure, cybercriminals are already working hard to find their way in.

What can your credit union do to ensure members have secure mobile banking experiences? Read the full article here to learn more.

Video: The expanded threat landscape

While operating in the Cloud as well as the growing “bring-your-own-device” (BYOD) trends in business may help to expand your credit union’s services, they also means a lot more threat vectors for your IT security team to consider.

Image source: Article

Laptops, tablets, smartphones, cloud systems…as more and more technologies emerge, more and more business processes are moving to the Cloud, and simultaneously more and more employees are bringing their own personal Internet devices into the enterprise – all yielding new vulnerabilities plus less control over the security of the online environments themselves.

Hosted by Greg Masters, managing editor at SC Magazine, this video interview addresses the evolving threat landscape and identifies security tactics to help prepare for and respond to cybercrime in today's world.

Watch the video to see and hear what the Masters captures during his interview.

The Evolving Role of IT Security Pros

A new report from the Information Security Forum highlights what many security professionals know: the threats to IT will intensify over the next two years. With the risk growing greater every day, the role of IT security professionals must change to improve the security of their organizations.

Image source: Article

An interview with Steve Durbin, the forum's global vice president, uncovers information presented in the report and more:

• combined threats
• lack of infosec funding
• gaining corporate buy-in
• promoting transparency
• dealing with privacy issues
• keeping up with new technology

The report, entitled, "Threat Horizon 2014," is published annually.

Read the full interview to learn more and to find a link to the report.

Mobile Lifestyle Topic of New CUNA Tech Council White Paper

Credit unions that don’t adapt to the mobile lifestyle of their members stand to lose membership, a new white paper titled The Future of Electronic Account Access: Adapting to the Mobile Lifestyle warns.

Image source: nikhewitt

Staff from four credit unions and five technology vendors contributed their thoughts and experience to the paper.

The paper identifies account access options that credit unions need to have now or will soon, including online and mobile banking, respectively. The latest trends also are explored, including the fast-growing use of tablets such as iPads.

The white paper is available free to CUNA Council members and $50 a copy to non-members. Read the article to find the link and to get your copy. View the Rarewire website to learn more about building custom apps.

Credit Unions Will Use Technology to Teach Young People the ABCs of Finances

Credit unions are on a mission, to get to know today’s youth and bring them some much-needed financial education.

Image source: Article

Generation Y, or the Millenials, roughly age 17-32...they are not only the largest group of consumers since the Baby Boomers but are also confident, optimistic, diverse, technologically proficient, socially conscious, eager, powerful, team-oriented, and ambitious.

Generation Z, or the Digital Natives, roughly age 2-16…they are smart and very tech-savvy (even dependent on technology), socially responsible, constantly multitasking, always connected, global, flexible, respectful, and culturally tolerant.

Credit unions have a chance to leverage technology to connect with these younger would-be members. Is your credit union ready for the challenge? Read the full article here.

New Credit Card Processing Technologies Help Improve Merchant Services

Mobile technology continues to be very popular among consumers worldwide. Many people carry Smartphones with them during the day, and they are also applications available for a consumer to make secure credit card payments with a credit card.

Image source: Article

Some business owners conduct the majority of their business online. There are e-commerce solutions available, some with shopping cart systems that have Point OF Sale (POS) and mobile solutions incorporated into the product. A secure payment gateway can help to increase sales.

A business that accepts credit cards has an advantage over one that limits itself to cash transactions. Learn more about new merchant card process technologies here.

Is Your Credit Union Due for a Technology Refresh?

Too many credit unions are holding off the upgrades to their equipment, moving well beyond what industry experts would deem reasonable - even safe.

Image source: Flickr

Examples of outdated equipment include servers being used beyond a five-year life cycle, keeping old operating systems installed on aging PCs, and even worse, failing to keep their core application software and other key programs up to date or patched.

There are published guidelines that give IT managers a starting point on which to base their recommendations based on the various technology components. But a rule of thumb using 36-60 months would be a good starting point for most things.

Take a hard look at your own technology refresh program and see what you can do to help guard your credit union against catastrophic failure. Read the full article here.

Credit Card Fraud: Have your members been a victim without even knowing?

It seems like all we hear about lately is credit card fraud, someone’s identity being stolen, unsafe hotspots for wi-fi, or hacking. How can we ever feel safe in a world where technology is increasing but it feels as though the safety of our personal information is decreasing?

Image source: Article

Global Payments recently dealt with the misfortune of having some of their cardholders’ information stolen. “The company says that only what’s known as Track 2 data (relating to the magnetic strip on the back of the card) was stolen--that is, the credit card numbers and their expiration dates,” as stated in an article in PC World.

What is the good news from all this? There are approximately 181 million credit cards in the United States. Even though 1.5 million card numbers may have been breached, that number only represents less than one percent of credit card holders.

Were one your members of the 1.5 million that was unfortunate enough to be part of this security breach? Read the full article here.

Software as a Service Market Growing Leaps and Bounds

Software as a Service, also known as SaaS, is a part of cloud computing and said to grow 17.9 percent. How much is 17.9 percent you ask? A whopping $14.5 billion!

Image source: profitbyoutsourcing.com

“North America is the most mature and largest SaaS market, expected to generate $9.1 billion in revenue this year, compared to $7.8 billion last year,” as predicted by Gartner and stated in an article in PC Business Center.

Although North America may be growing at mind-boggling rates, worldwide SaaS revenues are skyrocketing in places such as Latin American, Japan, and the Asia-Pacific region to name a few.

Has your Credit Union tapped into the SaaS market? How is it helping your team meet its business objectives? Read more about SaaS and its growing market in this article.

Are security basics getting lost under the cover of cloud and mobile?

Passwords, identities, and privileges. There is nothing futuristic about these...just common sense.

Image source: imsmartin consulting

Be wary of vendor messaging in light of today’s threats, as it may be misguided. Organizations can cope with the latest concerns by applying tried-and-true security best practices.

Current vendor messaging begs the question: Are we missing the mark on security basics by focusing so much on emerging technologies?

One has to wonder, on whose ears does all the new messaging land? Read the article and let us know what you think by commenting here.

The Technologically Sound Generation

Everything now is either wireless, smart, or begins with an 'i'. We are living in a time where technology is EVERYTHING and if you aren’t somewhat savvy with all the devices and lingo, you could easily fall behind.

Image source: Flickr

IT organizations and companies must think critically about how to use their wi-fi infrastructures. There are many ways that companies and businesses can be optimized when selecting the right wi-fi structure.

While using these connections, it is still critical that users are certain that they are using safe connections and trust their wi-fi networks. How is your IT department using wi-fi and the increasing use of technology? Are customers and employees finding benefits from the increase in useage? Tell us more about your experiences here!

BYOB? BYOC? No… BYOD

Acronyms are just a part of life and one of the newest ones that we have heard… BOYD, bring your own device. In today's world, it is not just unusual, but unheard of for someone not to have a smartphone.

Image source: Article

Those mundane phones that only allow you to call and text, so last season. The movement of BYOD is just simply unavoidable and inevitable. Not only do we make phone calls and text, but we also email, take notes, research, play games, listen to music, and of course, download the latest app.

So now, with our smart phones in hand, why not create an app that is API compatible to draw in customers, users, and anything else you can think of? Matt McLarty, vice president of client solutions at Layer 7 Technologies, found that when companies put in the effort to create apps that were not only great, but compatible with phones and the API code, they were able to draw in even more of their employees’ interest!

Look here to read more about the growing trend of BYOD.

Credit Unions Offer Gas Card As An Incentive

Many credit unions are finding that using a gas card giveaway as an incentive to sign up for estatements or participating in a seminar really “paying off.”

Image source: Article

The incentive of winning a gas card has created an increase in attendees at the seminars and credit unions are finding more and more members willing to sign up for estatements.

“April prices may be a drop in the bucket as 11 states have already experienced the $4 average including Nevada, West Virginia, Maryland and Florida. With no one knowing how high prices will rise, Americans are tightening their belt and looking for ways to save,” as stated in Credit Unions Online.

TweetDeck Security Breach

According to an article posted by CNET, TweetDeck was taken down by its parent site, Twitter, due to a security breach. The breach was caused by an unauthorized individual that granted access to other individuals’ accounts.

Image source: Flickr

“TechCrunch pointed to an Australian user named Geoff Evason who claimed he was able to get into hundreds of Twitter and Facebook accounts through the Mac client app for TweetDeck,” according to the article.

Does your credit union use TweetDeck to share information with your members on Twitter? How has this affected your credit union? Do you know? Read the remainder of the article and give us your insight. We would love to hear from you!

New Court Ruling For Credit Card Users

Credit card protection for the consumer has been an issue that continues to be discussed both in and outside of courts, in the news, and at banks worldwide. What if a ruling made in the courts last week has changed all of that?

Image source: Flickr

According to an article by Annamaria Andriotis in SmartMoney, “Experts say consumers who sign up for a credit card with a so-called binding arbitration clause can't dispute charges or fees in courtroom.” This vote has had to deal with criticism from consumer advocates reporting that it now places the consumer at a disadvantage, especially with larger companies.

When cases were able to be resolved with arbitration, it not only kept the case private, but more often than not, the consumer won. Will this be the case anymore with the new law that has been put into place?

Look here to read the full article about the court ruling and what it could mean for credit union member card users, credit unions, and the courts.

Verizon Says Some 2011 Cyber Attacks Were Avoidable? But How?

Have you personally ever been the victim of a cyber attack? Has one of your members?

Image source: Flickr

What if you knew that last year, 97% of cyber attacks “used relatively simple methods to commit their data breaches," according to a study released Thursday by Verizon, as reported on in an article by Credit Union National Association.

I’m sure you are now asking, “how is this even possible?” The article later explains that a majority of cyber attacks occur because the information is more easily accessible and hackers found a weakness in the compromised systems; weaknesses that could be addressed.

Want the stats and lowdown on all the details about the cyber attacks? Look no further! We have the full article with all that information and more.

Bump Payment App Created to Share Money

Ever been at a dinner and need to split the bill? Or owe someone for a ticket to a game or maybe picking up your tab for drinks and you need to pay them back? Chances are, your members have too.

Image source: Article

It’s always a hassle to carry around all that cash and change. So, what if you could just bump your phone with the person’s phone who you owe the money? It really is that easy with an app, Bump Pay, powered by PayPal. The application has already been downloaded by over 80 million users to-date.

Read the article here and even watch a video that shows how incredibly simple is it to use this app!

Employers Seeking Social Media Passwords

Why in the world would an employer need the passwords of employees to their social networking sites you ask? More often than not, it would be in response to a lawsuit or even a commercial dispute with a supplier. So maybe you are still asking, how are these passwords for social networking sites even relevant in that situation?

Image source: Flickr

“Cernam, a company that specializes in digital investigations, is looking to help employers dive into employees accounts without abusing the privacy of employees,” according to Joe Brockhmeier in his article Forensics and Facebook: How Cernam Plans to Collect Social Network Evidence.

This means that employers would not be given full access to an employee’s social media accounts with free reign to look through all the information available at the click of a button. The process offered by Cernam is called Capture and Preserve. Through this, they are only capturing evidence necessary. It will be an expert user who searches the information available, not an employer of the company in question. The employee even has the option to deny anyone access to their accounts if they do not agree to the terms of the search.

Cyber Crime More Frequently Targeted at Small Companies

As everything begins to become more and more interconnected with the increase in use of technology, there is also an increase in cyber crime, especially within small businesses. Now, why small businesses you ask?

Image source: Article

“With small firms often having to deal with a lack of budget, inadequate security policies and a general lack of knowledge of the subject, all sorts of weak points can be exploited,” explains Michael Millar, a business reporter for BBC News.

There are a number of things that hackers can do to your computer and software to gain information, spread a virus, or learn about your customers. Also, many of them retrieve this information and sell it to other criminals and allow them to do with it what they wish.

So as a smaller company, how are you working to protect your computer and all of the information it holds? Look here to see the five questions that you should be able to answer about your company that might help insure you have the best security possible and what do to in case you are hacked.

A warm welcome to new blog sponsor imsmartin consulting

Greetings from the team at CU Security & Technology News. We would first like to thank you for being a loyal blog follower. We hope you have found the blog and accompanying newsletter informational, educational, and even a bit entertaining.

It is with great pleasure that we announce our new blog sponsor, imsmartin consulting. The team at imsmartin is proud to be taking the blogging reigns from CU Security & Technology News blog founder, William Rogers. We would like to thank Bill for his dedication to bringing important and relevant news and information to credit unions throughout North America. With any luck, we will still see a guest blog from Bill on occasion.

We will continue to distribute our newsletter once a month. Be sure to check your emails for the latest and greatest in the world of credit union technology and security. If you are not on the mailing list, be sure to sign up using the form below.

Subscribe to our mailing list

For more information about imsmartin consulting, please visit the website at http://imsmartinc.com.

Until our next post…