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.

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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.

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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?

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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.”

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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?

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“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…

ReadyTalk makes web conferencing, online webinars and training sessions possible

Do you find yourself participating in multiple meetings, training sessions and webinars? Do they take up a majority of your take with all the time you spending going to and from them? What if you could actively participate in all of them just using your iPad, desktop, or Outlook?

Image source: Flickr

ReadyTalk, a provider of audio and web conferencing and webinar services, yesterday announced the availability of ReadyTalk Mobile, an iPad application that gives people the flexibility to participate in an online meeting, webinar or training session from anywhere.

Whether you are the one conducting the meeting or the individual attending, this application makes it easy to plan, invite others, and participate in the event while not only being able to hear everything, but also see anything that is being presented. This online tool may help us feel as though we are actually making use of all the time we have in a day that previously we felt we never had enough of.

So if you are a smaller company or credit union, other than for compliance regulations, why use log management? A log management system can analyze the logs, looks for irregularities, spot suspicious events, and even track repeated failed login attempts or port scans. Even within smaller companies, a breach of security is still a definite possibility. Is your company using any sort of log management system? If so, have you found it to be beneficial? If you are not using one, what are your hesitancies in taking the next step to protect your company?

How can you incorporate this application into your business? Look here for more ideas.

Log Management and how it could help your credit union

If you aren’t a large business with hundreds of employees, log management may not be one of the busiest IT positions. That is not to say that in a small company, log management isn’t effective.

Image source: LogLogic

Log management vendors are finding that the companies that are benefitting from their systems are usually larger companies where security is considered to be more of an issue.

“Of course, some compliance regulations—PCI DSS is a good example—are all about security anyways. But would companies use log management products if it wasn’t for compliance regualtions? ‘Bigger companies, yes, but for the smaller companies, probably not,’” according to Mandeep Khera, chief marketing officer at LogLogic.

So if you are a smaller company or credit union, other than for compliance regulations, why use log management? A log management system can analyze the logs, looks for irregularities, spot suspicious events, and even track repeated failed login attempts or port scans. Even within smaller companies, a breach of security is still a definite possibility. Is your company using any sort of log management system? If so, have you found it to be beneficial? If you are not using one, what are your hesitancies in taking the next step to protect your company?

For more information about log management, the why, the how, the vendors and pricing, look no further! Find the information you need right here!

Microsoft Employees and Cybersecurity Researchers Attack Online Crime

Have you ever been a victim of an online hacker? Has your personal information ever been stolen? The actions of two groups are looking out for your safety and your members' satefy.

Image source: Flickr

The determination of Microsoft employees and various other cybersecurity researchers to take down botnets is definitely paying off. The two separate groups were able to take down botnets that infected thousands of computers to steal personal and financial information.

Some of the computers that were infected were found to “blast pharmaceutical spam and, in some cases, steal Bitcoins, a virtual currency that is impossible to recover once stolen.” Thanks to these raids, the personal and financial information of countless individuals can be restored.

Want to hear more about how they attacked online crime? Look here for the complete article.

Use of iPad Helps ADT Double Their Sales

ADT has reaped the benefits of using an iPad in many aspects of their business. The applications that users can install allows homeowners to monitor their home security while away, increase sales revenue, schedule meetings and have even been able to cut back on the time the it takes to present a home to any potential homeowners.

Image source: Fotopedia

Salespeople within the company have been trained how to use the iPad and are finding that there are plenty of ways to improve the way that they do business.

“So what’s coming that’s so impressive? First, ADT expects to have all 4,000 salespeople using iPads by May. Second, it plans to deploy two more apps – a pricing configurator, and the ability to take electronic signatures. This will allow reps to quickly show different ADT systems and options and let customers sign their contracts all using the iPad,” according to a recent Forbes article.

Has your credit union implemented the iPad or any other mobile device, reaping the rewards of its many uses? Read more about how ADT is improving productivity and doubling sales.

Increase in technology and mobility, increase in fraud?

As the world becomes more and more technologically savvy, an increasing number of individuals use their phones and computers to purchase items.

Image source: Flickr

But is this quick and easy process safe? Randy Vanderhoof of the Smart Card Alliance says yes.

Have you taken that next step and taken advantage of enabling transactions through mobile device? Does the fear of fraud keep you or your members from engaging in this convenience?

Look hear to read more about what was uncovered during an interview with Vanderhoof.

Compromised Accounts Leads to Immediate Action by ELGA CU

Do you fear that any of your cardholders will be part of debit or credit fraud?

An ELGA Credit Union in Michigan had to deal with this exact situation. A disturbing 450 cards were in question when the company was informed. "I know we were not the only institution notified in the alert, but we decided to take action as soon as we learned about it,” says Frank Wilber, executive vice president of the Burton-based ELGA Credit Union.

As a result of debit and credit fraud, credit unions cover the customers’ loss. This financial burden is one no company wishes to encounter. How can it be avoided altogether?

Read more about what the Burton-based ELGA Credit Union did to keep customers informed of the situation. Would you have handled it differently? Let us know. We’d love to hear from you.

Diary of a laptop theft - what would you do?

A recent computer theft highlights the critical differences between “backup” versus protecting local & cloud storage from identity theft.

When a computer or mobile device gets stolen, what do you worry about most? Is it that your work is gone? Or that your personal information is on the device available for the theft to see? What about all of the accounts that are accessible online - captured in the history of the web browser and system menus and explorers? Are you worried about your gmail, your online banking, and your cloud-stored contact list?

This article describes the step-by-step actions as police attempt to help a victim recover their stolen devices. It also captures the victim's thought process and fears as they realize all that needs to be done now that these devices are in the hands of a thief.

We've been warned that it's always a great idea to save your data. We are also told to keep track of credit card issuers, card numbers, and phone numbers in case they are lost and stole. These two pieces of advice can be combined to assure the safety of our information within our digital life. Read the full, and very interesting, article at http://www.gregarnette.com/blog/2012/03/stolen-macbook-and-ipad-re-affirms-cloud-backup-strategy/.

Battle of the Electronic Wallets

Mobile-phone carriers are seeking a beachhead in phone-based payments. Only problem? Google got there first.

Tech experts, such as Google and Isis, are now battling to offer the best mobile or electronic wallet with the hope of capturing mobile phone advertising dollars, which could be substantial given that $200 billion spent on retail advertising every year.

Much like the very early days of e-commerce in the mid 90’s, today represents the very early days of the electronic wallet; a smart phone loaded with special chips that can transmit credit-card information and receive store offers . The armada of partners expected to participate and benefit from the electronic wallet include: all the major credit card brands and three banks with 100 million customers.

Google, with its Google Wallet already being accepted by 150,000 merchants, is forcing carriers to face the risk that Google is going to take over the lucrative slices of mobile business. The race is on as the companies scram to get merchants to install the $100 software into the new checkout terminals, so that their wallets are accepted and they can manage sending advertisements and loyalty points back to consumers.

Do banks need to be concerned with security glitches allowing phone thieves to go on electronic spending sprees? See the full article at http://www.technologyreview.com/business/39825/.

New Online Technology Helps Prevent “The One that Got Away”

Instead of having its members abandon their efforts to obtain a loan altogether or even worse, go elsewhere for the loan because of the lag in time to completion, Northwest Federal Credit Union has utilized online technology which has increased their loan close rate to a staggering 86 percent.

The system utilized by NWFCU to reduce the time lost while loan officers played “phone tag” with members to complete their loan applications, consists of a variety of communication tools created by a combination of DigitalMailer’s communication systems and MeridianLink’s multi-channel allowing the Credit Union to automatically connect with members interested in obtaining loans.

This technology allows NWFCU to stays in touch with members at every step in the borrowing process, without putting a strain on staff resources." Want to learn more about how this tech savvy system can free up your staff to close loans? Read the full article to find out more.

Enterprise Social Networks Deserve Time, Careful Consideration

Times have indeed changed as companies make the move from blocking social media sites like Facebook and Twitter, to bringing the fundamentals of social networking into the enterprise to promote collaboration, innovation and sharing.

Image source: http://www.strongmandigital.com.au

Putting social network statistics aside, it is still obvious that enterprise social networks give businesses a key platform to make their business personal to the customer. It would be a grave mistake to ignore the potential successes to be had through the implementation of enterprise social media. However, as more businesses begin to recognize the great potential of enterprise social networks, seventy percent of internal social initiatives eventually fail because those businesses didn’t do their homework.

So, what homework should small business do before a rollout? Read the full article to get some ideas.

AmEx Syncs With Twitter To Turn #Hashtags Into Savings

Want $20 back from Whole Foods when you use your AmEx card? Tweet #AmExWholeFoods. Here's what's behind the new deals for the sharing generation.

American Express unveiled a new program with Twitter to let cardmembers sync accounts with the social network, and earn savings from big brands such as Whole Foods, Best Buy, and Zappos--just by retweeting certain hashtags.

Read the full article.

Data Protection for Small Business

If your server crashes this afternoon, can you recover your data? What will you do if your office burns down tonight?

Because the stakes are so high, the first item on any small business to-do list should be to properly protect their data. This article covers three things small business should do in order to do just that.

Read the full article

Breached Card Details Threaten Privacy

Data breaches tied to credit and debit cards accounted for more than 25 percent of all breaches in 2011, according to a new report.

Breach numbers overall have declined, with breaches in the financial-services sector accounting for less than 4 percent of all breaches. While, from 2010 to 2011, the financial sector saw losses linked to debit and credit compromises drop from 18.6 percent to 1.6 percent, merchants and businesses saw jumps in debit and credit losses, from 4.3 percent in 2010 to 12.9 percent in 2011.

Read the full article.

Most Common Passwords

'Password1' is the No. 1 Password Employed by Business Users

Unfortunately, that's just the most cringe-worthy example of bad enterprise security cited by Trustwave in its recently released Global Security Report for 2012.

So, you ask, why "Password1"? Read the full article to find out.

Smartphones Continue To Grow In Popularity

American ownership of smartphones stands at 46%.

Interestingly, this number is larger than the number of adults who own cell phones that aren’t smart phones, which is currently at only 41%.

Operating system details from Pew Research:

• Android devices are used by 20% of cell owners, up from 15% in May 2011
• iPhones are used by 19% of cell owners, up from 10% in May 2011
• Blackberries are used by 6% of cell owners, down from 10% in May 2011

How will these mobile devices change the way CUs connect with their members?

Read the full article

Targeting Merchants, Square Debuts Register iPad App And Analytics

The Square app has a completely new UI, and a better integration with Card Case, which is Square’s consumer-facing loyalty, payments and merchant-discovery app.

The new app’s UI has been reconfigured so that it’s a perfect fit for brick and mortar businesses, whether they have 10 items or 10,000. The new app and Square also features in-depth analytics, allowing merchants to segment consumer payments data and transactions.

Square says it is now processing $4 billion in payments volume per year, which is up from $2 billion in mobile payments volume expected in October 2011.

Read the full article

Your Webcam Can Read Your ID Card To Verify Your Identity

Mattes' company Jumio is formally introducing Netverify, which turns any device into a personal ID reader.

It's like Jumio's previous product Netswipe, which can turn any device into a credit card reader -- all by using the webcam on your computer. Users can pay with their webcam so their credit card details are never stored on their computer -- making it much more secure to use than methods that require the user to type in numbers.

Read the full article

Remote ATM Vulnerability – JACKPOT!

There have been a number of ATM breaches, such as in 2008 when several Citibank-branded ATMs located in 7-Eleven convenience stores were compromised to extract account numbers and PINs.

Barnaby Jack, Director of Security Testing at IOActive, was able to demonstrate remotely gaining control of not one, but two ATM machines that he purchased – causing both of them to empty their cash contents onto the stage at the Blackhat Security Conference. With all of the cash extracted from Jack's ATMs, one might think that remote control over the ATM is no longer valuable. But, this is so not the case.

Read the full article

The Credit Card Is The New App Platform

Credit and debit cards are ubiquitous, but they’re mostly pretty dumb. That’s about to change.

Online commerce is now a $200 billion industry, but it’s still small compared to offline transactions. Up to 70% of consumer spending is influenced by Web and mobile research, but over 90% of actual transactions are still conducted in the physical world. Retail marketers know they can advertise more efficiently if they can actually track and close the redemption loop from online browsing to offline buying. Major consumer internet and financial services companies are also highly motivated, as they see a path to greater advertising and promotion-based revenue if they can demonstrate more marketing value through closing the loop.

So what will be the impact of this emerging app platform on the card carrying public?

Read the full article

Survey Reveals Big Data Misconceptions, Security Concerns

Can you provide IT security for data if you don’t really understand what it is you're protecting?

The survey shows that there are still a lot of misconceptions about big data. 49% said they were somewhat or very concerned about managing big data, and 38% acknowledged that they do not have a clear understanding of what big data is. Furthermore, a majority of the respondents, 59%, lack the tools required to manage data from their IT systems, resorting to using separate, disparate systems and even spreadsheets.

Read the full article

Samsung Galaxy Beam Is Both a Smartphone and Projector

Could this 50-inch beam be used for company presentations?

The Mobile World Congress in Barcelona hasn't even officially kicked off yet, and Samsung is already on fire, announcing devices left and right. After the 10.1-inch Samsung Galaxy Tab 2, next in line is a smartphone/mobile projector combo called Samsung Galaxy Beam. What makes it different from most other smartphones on the market is its ultra-bright, 15-lumen projector, which lets you project a 50-inch wide image on a wall – really handy for presentations.

Read the full article

Four Technology Trends to Watch

The ‘consumerization’ of technology will affect member interactions.

Improper measure for social media, mobility, cloud computing, and data security/privacy can lead to data breaches. And when they do, they have profound effects on credit unions, including financial ramifications, loss of members, brand damage, regulatory scrutiny, and legal liability.

Read the full article

What's the Big Deal about Big Data?

The ability by organizations to collect mountains of data offers a dream scenario for hackers, but if managed properly, large volumes of information also can present IT staff with unique and valuable insight into an organization's security posture.

The more data we generate and share, the greater the risk of that data being used against us. By leveraging these same trends and viewing them from a big data picture, organizations can extract tremendous value with a greater chance of detecting and responding to otherwise undetected security incidents.

Read the full article

Identity theft, phishing top tax scams in U.S.

Identity theft and phishing top the federal U.S. tax service's list of "dirty dozen" scams, which tend to peak this time of year as millions of Americans gear up to file their tax returns.

"Scam artists will tempt people in person, online and by email with misleading promises about lost refunds and free money. Don't be fooled by these scams," Internal Revenue Service(IRS) Commissioner Doug Shulman said in a statement on Thursday.

While the "dirty dozen" schemes are common year round, many occur most frequently during tax filing season, the IRS said. The filing deadline for 2011 taxes is April 17.

Read the full article

Why social media, mobile phones want your info

Living in the world of social networking and mobile smartphones means trading away some of your personal information. Experts on the issue admit that they don't have a full picture of the way personal information is collected and used on the Internet.

Read the full article for some basic guidelines to keep in mind.

Here's A Look At The New Breed of Phishing Scams

Maybe you think you can spot scam emails by the broken English, the pleas to wire money via Western Union and the references to Nigerian princes. Think again.
Read the full article

How to cut 70 percent of your IT budget in one year

In our new structure, we needed applications that were scaled down and easier to support. We ditched the world of licensed software and annual commitments to large capital expenses on equipment — the traditional way of doing IT — in favor of cloud, SaaS and virtualization.

After a year-long migration of our IT infrastructure and applications to the cloud, we shaved more than $2 million, or 70 percent, from our annual IT budget.

Read the full article to see how they did it

Image courtesy of Flickr user AndyFitz.

Digital stick-up: Online account fraud

With court battles raging between small businesses and banks over which entity should be responsible for the massive losses that result from account fraud, ING Direct has adopted a line of thinking that not all financial institutions might agree with: Accept that the customer is going to stink at security.

While corporate account takeover remains prevalent, resulting in $87.5 million in losses last year, all banks can strive to prevent it says Rudy Wolfs of ING Direct.

Register for the report at SC Magazine

Watch Out Visa and MasterCard: PayPal Is Coming to a Brick-and-Mortar Store Near You

Products like Square and early mobile wallet innovations are already nipping at the heels of the traditional payment-processing infrastructure that merchants use every time you swipe a card to buy something at a store.

But online auction powerhouse eBay, owner of PayPal, thinks there’s room for one more competitor to bank-issued debit and credit cards with a logo such as Visa or MasterCard on the front: The company plans to roll out PayPal in brick-and-mortar retailers.

Read the full article

Risky Places to Swipe Debit Cards

Would you give a thief direct access to your checking account?

No? Unfortunately, you may be doing just that by regularly using your debit card. Debit cards may look identical to credit cards, but there's one key difference. With credit cards, users who spot fraudulent charges on their bill can simply decline the charges and not pay the bill. On the other hand, debit cards draw money directly from your checking account, rather than from an intermediary such as a credit card company.

Because of that, even clear-cut cases of fraud where victims are protected from liability by consumer protection laws can cause significant hardship, says Frank Abagnale, a secure-document consultant in Washington, D.C.

He cites the example of the The TJX Companies Inc.'s T.J. Maxx data breach that exposed the payment information of thousands of customers in 2007. The incident resulted in $150 million in fraud losses, and much of it was pulled directly from customers' bank accounts. While credit card users got their accounts straightened out and new cards in the mail within a few days, the case created major problems for debit card holders who waited an average of two to three months to get reimbursed, Abagnale says.

While debit card fraud is always a possibility, being careful where you use it can help keep your checking account balance out of the hands of criminals.

Read more: Risky Places To Swipe Debit Card | Bankrate.com http://www.bankrate.com/finance/checking/risky-places-swipe-debit-card-1.aspx#ixzz1ljVNFbYl

Password Check

When it comes to Money, this magician know hows to handle it

What seems as a series of simple magic trick turns into a mind boggling illusion at the end.

http://www.bing.com/videos/search?q=chinese+magic+coin+trick&mid=B473EA6EDE46D6FB74A7B473EA6EDE46D6FB74A7&view=detail&FORM=VIRE3 

Can you explain how he does it????