Vendor ‘Speed Rounds’ Reveal Tech Insights
'Passwords are going away,' one vendor predicts.
The advent of biometrics means passwords soon will be a thing of the past, says Bob Long of Daon.
“Biometrics is real,” he says. “It’s here, and it’s being used today. Passwords are going away.”
Long participated in Tuesday’s “Speed Rounds” at the CUNA Tech/OpSS Council Conference in Orlando on Tuesday.
Speed Rounds, a series of product pitches, gives presenting vendors seven minutes apiece to describe the purpose and functionality of their products and answer questions from the audience.
Attendees vote on the presentations, and the winner among the 22 participating vendors will be announced shortly.
Long says USAA introduced Daon’s IdentityX biometrics platform in January. It can authenticate users by facial and vocal recognition, and more than one million people now use it to access their accounts.
More Speed Round highlights follow. Also check out highlights from the first session of Speed Rounds.
Intelligent analytics and targeted offers allow credit unions to dive deeper into member data, including data from external sources. MX's Target and Insight allows for the creation of hyper-relevant, targeted, personalized marketing offers, Chad Ramos says.
Compushare C3 is a community-based cloud computing system designed specifically for financial institutions that simplifies compliance, says Tom Berdan of D+H.
Berdan (left) illustrates the product’s disaster recovery capabilities by using a hammer to smash a laptop he’s using. He then picks up right where he left off with another machine.
D+H Cloud Solutions is a CUNA Strategic Services alliance provider.
Passageways’ OnBoard allows credit unions to communicate securely with board members and staff on a user-friendly online platform that allows users to drag and drop files and easily catalog materials.
“It’s more than just board meetings—it’s meeting software at this point,” says Passageways’ Matthew Maxwell, who emphasized the board applications by banging a gavel to start his session.
Passageways is a CUNA Strategic Services alliance provider.
Akcelerant’s Framework is a completely configurable loan and account origination tool that operates through your credit union’s site, says Akcelerant’s Mark Price.
When a member begins an application, he explains, a workflow pulls a credit report to determine loan pricing, and the program emails a custom response to the applicant.
Framework has omnichannel capabilities, allowing members to complete transactions in multiple delivery channels.
SMA Solutions’ Josh Higgins dons a fortune teller’s wardrobe and becomes the mighty “Ascernak” to underscore the “all-seeing, all-knowing” capabilities of the company’s Ascern data analytics management platform.
The platform can track transactions in real time. It also has predictive capability, allowing proper and timely deployment of staff.
Symitar’s ARCU (Advanced Reporting for CUs) is a powerful, flexible, open, and simple tool that offers a user-friendly dashboard and produces easy-to-read reports based on historical data, says the core processing company’s Kyle Gaither.
MeridianLink’s Loans PQ is a single database that enables point-of-sale cross-selling on applications for membership and loans, says Paul Forrest.
The product strives to make the process easy for applicants, too, with features such as population of certain data field by taking a photo of one’s driver’s license.
This system works in conjunction with credit unions’ loan origination systems so users can rely on their own underwriting functionality. It’s completely paperless and integrates with electronic document signing.
Fiserv’s Integrated Payment Services (IPS) platform allows members a streamlined look at their finances, with 90% of their most common activities available in a single click from the overview page, say Cheryl Harris and Brian Grundleger. IPS makes payments of all types a simple, intuitive, and frictionless experience.
iQuantifi’s RoboPlanner engages members based on their financial goals and recommends credit union products to achieve those goals, says Tom White.
The platform, which addresses long-range goals and current cash flow, is based on responsive design so it’s user-friendly on any device.
Talari’s Thinking WAN ensures business continuity for credit unions by providing a stable network that ensures your traffic receives the bandwidth it needs, says Glenn Chrumka.
In the event of a service interruption that requires use of a secondary network, Talari identifies the cause and duration of the outage, enabling credit unions to address recurring problems with its provider.
ShoreTel’s Unified Communications ties together every communications medium--phone, email, instant messaging, video—into a single tool, says Dean Moore.
It offers features such as transferring a call from your mobile device to your office phone seamlessly.
The system integrates your directory, enabling click-to-call functionality and recognition of incoming calls, which allows credit unions to personalize greetings.
Digital Insight’s Business Banking is a single-platform solution that offers flexibility and scaleability for business members, says David Potterton.
The system allows administrators to tailor the experience based on users’ needs, displaying only those categories they find useful at the time.
FMSI’s Omnix Appointment Concierge is an intelligent assignment engine that connects the needs of members—either online or in the branch—with the appropriate credit union employee, based on his or her skill set and availability, say Gordon Williams and Meredith Deen.
Some 70% of interactions involve mortgage transactions and other high-touch interactions. But the Concierge can be used for all sales and service needs.