Technology Council Identifies Five Top Tech Trends

Mobile services—and malware—are at the forefront.

June 20, 2013

The CUNA Technology Council has identified five key technology trends at the forefront of balancing members’ service needs and maintaining adequate security.

They are:

1. Mobile services

There will be an estimated two billion active smartphones worldwide by the end of 2013, according to Deloitte.

Credit unions must be able to deliver services via these and other mobile devices as consumers demand anytime, anywhere access to their accounts.

But, as with most everything, there are downsides to mobile. Case in point: Malware.

NEXT: Mobile malware

2. Mobile malware

With the rapid proliferation of smartphones and the explosion of downloadable apps, it was only a matter of time before malware surfaced that targets mobile devices. That time has arrived.

TrendMicro estimates the number of malicious Android apps will hit one million this year.

Of most concern to financial institutions is the backdoor type of malware that provides unauthorized access to mobile devices. This malware makes it possible to steal personal data, including mobile banking login credentials, or to install other malicious programs.

The Zeus-like Zitmo malware, for example, infects 10,000 to 20,000 Android smartphones per week.

Mobile malware also has implications for enterprise “bring your own device” (BYOD) programs that are becoming increasingly popular. Securing personal devices used in BYOD will become even more challenging as mobile malware increases.

Financial institutions need to invest more in mobile malware detection and prevention to keep up with increasing threats. Plus, they should place a high priority on educating members on how to protect themselves.



BYOD is about convenience and productivity. While the technology has been around for a few years to securely deliver business email and calendaring to personal devices, few organizations have a BYOD policy in place.

This is despite the fact that 71% of employees say they access corporate assets with personal devices, according to

Adoption is growing, however, with organizations considering technologies such as Good, Zenprise, MobileIron, and other mobile device management tools.

Gone are the days where we cart around separate devices for personal and work purposes. This convenience keeps us connected—whether good or bad—and encourages staff to check in day and night.

In these times of “always on,” BYOD brings an additional layer of convenience that’s a “must have” for all organizations, but which must be secure and protected.

NEXT: Mobile remote deposit capture

4. Mobile remote deposit capture

As we’ve been saying lately, it’s a mobile world. Consumers are devouring anything “mobile” to enable their anytime, anywhere craving for access.

Most of us have launched our triple-play mobile services strategy (WAP, APP, SMS), but we can’t be satisfied with that—our members won't be.

Mobile deposit capture, mobile bill-pay, and mobile loans must be on our radar. In the coming years, a leader will emerge for mobile payments and we need to be ready.

This means implementing solid, yet flexible platforms today—we can’t wait.

So get ready: The trend is “anything mobile.”


5. Credit Union Financial Exchange (CUFX)

Change and innovation are increasing at an accelerated pace. Demand for seamless delivery across channels and technologies continues to drive investments.

For credit unions to grow, provide the best member experience across all channels, and remain competitive in the marketplace, they must continually improve their technical infrastructure.

One barrier credit unions face today is the highly inefficient systems integration process required to connect applications.

Credit unions need to provide the sophisticated, seamless experience that consumers demand. With a single technology standard, both credit unions and vendors will be better able to deliver these solutions rapidly and elegantly.

That’s why the credit union movement needs a single integration standard such as CUFX.

Experts from leading credit unions and top vendors are coming together on CUFX, an initiative of the CUNA Technology Council, to develop standards that will make product and service integration across the credit union movement faster, easier, and less expensive.

CUFX standards will be vendor-agnostic. A certification program will allow vendors to acquire a “CUFX Certified” designation.

Stay tuned.

Visit the CUNA Technology Council website for more information.