Links in “Technology”

Bring Your Own Device (employees using their own phones or tablets to access corporate data) is here to stay, with one report noting that 70% of employees use their own devices, 21% in spite of established policy otherwise. But BYOD brings significant benefits, not just risks. [8/5/14]

Congress’ desire to create a zero risk environment through regulation is stifling innovation and a lack of alignment on a technological philosophy causes credit unions to opt for short-term technology changes, rather than investing in the more important longer term technology trends. [7/18/14]

With a growing number of consumers who think and act in a "mobile-first" way, expect to see facial recognition technology a part of identity validation by 2017. [7/17/14]

Yes! Service 1st FCU is among the first credit unions to take the plunge and now offers fingerprint scanning to its members. CIO Jay Reed says, "Biometrics was the next obvious step in privacy and security — especially in a busy, open lobby." Read this article to find out more about what it's like to use this new-age technology in your institution. [7/10/14]

At CUNA's American Credit Union Conference, speakers Amber MacArthur and Fredda McDonald urged credit unions to take new technology and social media and run with it—if they want to be competitive and reach a larger audience, that is. Specifically, MacArthur provided eight social media best practices, including jumping on the bandwagon of "contagious" trends. A summary of MacArthur's talk can be accessed here. [7/3/14]

A look  into the issues surrounding the possible use of consumers' cell phone locators to confirm they are in the same city their credit card is being used as a fraud detection method. [6/27/14]

CFPB is recruiting for its second round of participants in its Technology & Innovation fellowship program, a two-year program for tech developers. The first group's work include developing an online tool to visualize and track HMDA data, the "Ask CFPB" FAQ feature, and eRegulations. [6/26/14]

A new survey by the ATM network Pulse reveals that credit unions experienced higher losses than other financial institutions as a result of the Target breach.  The data shows that 14% of credit union debit card fraud in 2013 was tied to the Target breach. [6/25/14]

While the financial services industry is making substantial investments in cybersecurity, two bills making their way through the Senate that would enhance coordination with the Federal government's cybersecurity efforts are also needed, according to the ABA. [6/25/14]

The Federal Financial Institutions Examination Council (FFIEC) today launched a web page on cybersecurity. The page is a central repository for current and future FFIEC-related materials on cybersecurity. The FFIEC Web page provides links to joint statements, webinars, and other information that may help financial institutions when thinking about the issue of cybersecurity. [6/25/14]