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Silanis ties e-SignLive to MeridianLink

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MONTREAL and COSTA MESA, Calif. (7/9/14)--e-SignLive by Silanis has partnered with MeridianLink as the preferred e-signature solution for MeridianLink's account opening and loan origination platform.
 
Silanis is a CUNA Strategic Services alliance provider.
 
MeridianLink's financial institution clients will be able to originate, approve, sign and fund all of their transactions from within MeridianLink's workflow, eliminating paper, saving time and improving compliance.
 
"By integrating e-SignLive, MeridianLink is creating the kind of experience customers are demanding when they apply for a loan or open an account," said Silanis CEO/co-founder Tommy Petrogiannis.
 
MeridianLink's platform is an online application that instantly generates pre-qualified loan decisions for consumer and commercial loans and generates new accounts for consumer and commercial deposit accounts.
 
With the integration of Silanis' e-SignLive e-signature service, online transactions can be completed straight through, creating a completely paperless lending and account opening program for any financial institution and a seamless process for members and customers in branch, online or via call centers and kiosks.
 
"Our relationship with Silanis not only provides the benefits of completing transactions completely online and from within our workflows but Silanis' relationship with CUNA in the credit union world and their cost competitiveness provides MeridianLink the adoption incentives we're looking for in an electronic signature partner," said Edward Guerin, MeridianLink vice president of business development. "We expect significant adoption of e-SignLive."

Invest in America to become Love My Credit Union

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LIVONIA, Mich. (7/8/14)--Invest in America, a discount provider and loyalty program for credit union members, will become Love My Credit Union Rewards beginning Aug. 1.
 
Invest in America was originally created in 2008 during the financial crisis to support the U.S. auto industry, to provide meaningful auto discounts to credit union members and to help credit unions gain auto loans.
 
Six years later and now managed by CU Solutions Group, the program has grown to offer other exclusive discounts to credit union members, with new partners, enhanced technology and new marketing options.
 
On Aug. 1, Love My Credit Union Rewards will introduce:
  • A new consumer website;
  • Bundled shopping categories including auto, home, technology and entertainment, finance, shopping and Invest in America;
  • Love to Shop, which replaces Shop America, with a new platform that will provide exclusive daily offers to bring members back more often; and
  • New marketing materials to promote the overall rewards program, individual discounts and materials that support the bundled discount categories.
To continue to show credit union support for U.S.-based companies, Invest in America will still be displayed as a category on the website homepage, as well as the logo will appear on discounts that are from U.S.-based companies.

TMG white paper discusses HCE technology

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DES MOINES, Iowa (7/7/14)--A new white paper from The Members Group addresses the impact a new technology could have on the mobile payments marketplace.

The technology--known as host card emulation (HCE)--is poised to make it not only possible, but beneficial, for community financial institutions (FIs) to deploy consumer-centric mobile payments solutions. 

Writing for an audience of FI leaders, Brian Day The Members Group senior product manager, opens the paper with a call for collaboration. "To bring mobile payments to the inevitable (albeit long-awaited) ignition point, tech developers and issuers will have to link up," Day writes. "HCE technology may be just the innovation to grease the wheels for such a marriage."

Introduced by Google with its Android KitKat update, HCE was built in response to wireless carriers blocking Google Wallet's access to the secure near-field communication (NFC) chips in their devices. HCE was recently endorsed by both MasterCard and Visa, and according to Day, it will benefit community FIs and consumers in two major ways.  HCE will keep card issuers in play and allow for a seamless user experience.

Day outlines several of the technologies that have the greatest potential for eventual consumer adoption.  He writes: "A lack of agreement on one core technology to power mobile payments has complicated issuer, merchant and consumer adoption. Simply put, a plethora of choices for both providers and consumers exists today. Among these options, three main technologies stand out as leaders in the emerging payments landscape. They are barcode plus cloud, bluetooth low-energy (BLE) and near-field communication (NFC)."

Day walks through each of the three, addressing pro-and-con points from the end-user, or consumer, perspective. Ultimately, he concludes the greatest promise for both consumers and FIs lies in the combination of HCE and NFC: "Just as card issuers have long pursued top-of-wallet positioning, very soon it will be top-of-app positioning they most cherish. With HCE and NFC working together, long-standing cardholder relationships are not only safe; they are poised to take off."
 
To download the white paper, use the link.

Diebold helps automate Bellco CU branch

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NORTH CANTON, Ohio (7/3/14)--Diebold Inc., a CUNA Strategic Services alliance provider, worked in tandem with Bellco CU, Greenwood Village, Colo., with $2.6 billion in assets, to design the credit union's new Stapleton branch in Denver.
 
The technology-based branch helps members conduct self-service transactions on one of three deposit automation-enabled Diebold in-lobby teller terminals, encouraging more personal interaction between members and branch staff.
 
When transforming its branch model, Bellco teamed with Diebold Advisory Services to strategically incorporate the right mix of technology and personalized service to best serve members, said Doug Kearbey, Bellco senior director of administrative services.

"Diebold's deposit automation technology allows us to transform our customary branch model to a self-service suite where members are free to manage deposits and withdrawals on their own," Kearney added. "At the same time, our Universal Bankers have more time to spend interacting with members for more detailed transactions or to meet with them about their financial goals."
 
Bellco's new branch also features an Opteva 760 ATM that serves as a NextGen ATM by CO-OP shared branching terminal. Introduced in December 2012, the ATM enables members of participating CO-OP Shared Branching credit unions to access their accounts, helping Bellco direct more non-member traffic to the ATM self-service channel and allowing branch staff to focus on more complex member transactions and lending.
 
"Self-service technology is enabling a more personalized branch strategy for Bellco," said Mychal D. Kempt, Diebold vice president of North America operations. "Our solutions are freeing up member representatives, giving them more opportunities to engage with members and grow business."

CSS providers highlight new offerings at ACUC

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SAN FRANCISCO (7/2/14)--CUNA Strategic Service (CSS) alliance providers highlighted new product and service offerings at the Credit Union National Association's 2014 America's Credit Union Conference this week in San Francisco.
 
Attendees visiting the exhibit hall through today may view a demo of TraceSecurity's TraceCSO solution that can help credit unions address critical components of a successful risk-based information security program. TraceCSO folds information technology governance, risk and compliance into one unified application.
 
SilverSky will focus on three new offerings:
  • PCI Essential combines payment card industry-specific procedures with network security technologies to address PCI compliance;
     
  • Targeted Attack Protection (TAP) uses static and dynamic analysis to discover advanced and targeted attacks on emails without relying on traditional anti-virus and anti-spam signatures; and
     
  • Office 365 packages are built on messaging, collaboration and productivity for the Microsoft software suite.
Ongoing Operations added four new pieces to its disaster recovery/business continuity services, including third-party connectivity, telecommunications, distributed denial of service (DDoS) protection and data backup.
 
Also, CSS is celebrating the 30th year of its relationship with ATM manufacturer Diebold. Diebold received a proclamation signed by the CSS board recognizing its years of support for credit unions.

Fannie Mae updates area median incomes

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WASHINGTON (7/1/14)--Fannie Mae, a CUNA Strategic Services alliance provider, has posted updated area median incomes (AMIs), which are the basis for the income limits for MyCommunityMortgage (MCM).
 
AMIs are established by the U.S. Department of Housing and Urban Development and provided to Fannie Mae annually by Federal Housing Finance Association.
 
MCM is program was designed by Fannie Mae to provide low rates, minimal risk-based price adjustments, and reduced mortgage insurance costs to low- to moderate-income home buyers who meet certain requirements.
 
Under MCM, a borrower's income can be up to 100% of AMI, or 115% of AMI in non-metro areas, or higher limits in specified high-cost areas.
 
For one-unit transactions, no minimum contribution the borrower's own funds are required.
 
Minimum mortgage insurance coverage under the MCM program includes:
  • 16% for 90.01% to 95% loan-to-value (LTV);
  • 12% for 85.01% to 90% LTV; and
  • 6% for 80.01% to 85% LTV.
MCM loans are not subject to the loan-level price adjustment for minimum mortgage insurance coverage.
 
Mortgage insurance can be financed up to 95% LTV, including the financed mortgage insurance for fixed-rated mortgages (90% for adjustable-rate mortgages).
 
Acceptable sources of funds for down payment and closing costs include personal gifts, gifts or grants from a qualified entity, employer assistance, and Community Seconds mortgages.
 
The Community Seconds option combines a first mortgage that Fannie Mae purchases with a subordinate mortgage. The subordinate mortgage may be funded by a state, county or local housing agency, a nonprofit organization, or an employer; it may be used to finance the down payment or closing costs.

Silanis integrates video into e-signature process

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MONTREAL (6/30/14)--Silanis Technology, an electronic signature provider, has partnered with eFace2Face, a web-based video communication and collaboration platform.
 
Silanis Technology, based in Montreal, is a CUNA Strategic Services alliance provider.
 
Through the partnership, the companies will integrate Silanis' e-SignLive e-signature solution into eFace2Face's video communication platform.
 
eFace2Face delivers browser-based video and audio meetings and document sharing. The partnership introduces the inclusion of electronic signing as a feature accessible directly from a videoconferencing solution.
 
While eFace2Face already enables agents and customers to hold high-definition video meetings while sharing and modifying documents in real time, the integration of e-SignLive enables all meeting participants to sign all necessary agreements, sequentially, in one session, using one channel.
 
Benefits created through the integration include:
  • Greater efficiency with accelerated sales processes;
  • Improved cross- and upsell opportunities with higher close ratios;
  • Reduced costs and increased revenues;
  • Improved compliance with industry standards and regulations; and
  • A better customer experience.
Also, today is National ESIGN Day, commemorating the passage of the Electronic Signatures in Global and National Commerce Act, which was passed by the U.S. Congress to facilitate the use of electronic records and electronic signatures. In 2010, both houses of Congress passed a resolution at the request of industry leaders, recognizing June 30 as National ESIGN Day.