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Survey Securities brokerages follow FIs lead on fraud

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ATLANTA (2/26/08)--Securities and brokerage firms are using lessons learned from the financial industry to fight online fraud and identity theft, according to a recent survey. Digital Resolve’s survey indicated that most securities and brokerage professionals (76%) believe their companies understand the seriousness of fraud and identity theft. About 80% of respondents said they had not experienced fraud or identity theft within their online channel. “In today’s rapidly changing online criminal environment, effective security cannot be a one-size-fits-all solution,” said Dennis Maicon, Digital Resolve executive vice president. “It’s important to implement technologies that address all of a firm’s top security concerns, while covering every customer touchpoint.” Because many financial institutions have strengthened their online security, criminals have moved to industries they perceive as more vulnerable, such as securities, brokerage, insurance and non-financial targets, according to George Tubin, TowerGroup research director. Besides regulatory compliance concerns, Digital Resolve survey respondents listed unauthorized systems access and customer data breaches as top security concerns. About 95% of respondents considered stronger log-in authentication beyond usernames and passwords to be an important security feature. A majority also said transaction monitoring, fraud research and reporting are the keys to business security. Digital Resolve, a business unit of Digital Envoy, provides anti-fraud solutions to financial institutions, including credit unions.

Aimbridge marks 2007 with more expansion

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ENGLEWOOD, Colo. (2/26/08)--Aimbridge Lending Solutions worked with 450 credit unions in 2007 and introduced several new technologies, including AimbridgeConnect, Loan Generation Services and Credit Desk Support (CDS). “We developed a foundation for a new generation of solutions that enables credit unions to capture loans through a variety of consumer product categories by connecting the lender to the consumer,” said Steve Bentley, Aimbridge founder. Aimbridge also launched a new website for its auto lending solution. Automotive Avenues allows credit union members to select a used car from a list of certified vehicles, price it and then order it. Aimbridge markets auto loans and insurance products through partnerships with credit unions and auto dealers.

Mortgage school focuses on limiting economys effects

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MADISON, Wis. (2/26/08)--Mortgage lending professionals can learn how to limit the effects of the economy and the mortgage crisis on their credit unions and members at the Credit Union National Association’s (CUNA) Residential Mortgage Lending School April 7-11 in Atlanta. The school will cover loan servicing, marketing strategies, appraisals, operational improvements, underwriting and mortgage regulations. Attendees also will learn about the role mortgages play in member relations. Other on-site CUNA offerings include:
* Security and Fraud Institute: Introduction, April 27-May 2 in St. Pete Beach, Fla. The sessions will cover internal fraud and security, including workplace violence, robbery and scams; * Security and Fraud Institute: Advanced, April 27-May 1 in St. Pete Beach, Fla. The sessions will cover new threats and security trends, end-user training, risk analysis, managing and reporting fraud, and security issues; * Robbery and Fear Seminar, April 27 in St. Pete Beach, Fla. The seminar will take place after the Security and Fraud Institutes at a local credit union; * Business Development School: Part I, April 27-May 2 in Atlanta. The school will train attendees to build a plan based on their credit union’s strategic plan and develop a budget; * Sales and Service Culture Institute, April 15-18 in San Diego. The school will teach attendees how to strengthen member relations and generate revenue; * Branch Management Institute: Foundations, April 14-17 in Baltimore. This will teach the skills necessary for branch management in financial management, sales, compliance, and recruiting to increase employee retention; * Branch Management Institute: Strategies, April 14-17 in Baltimore. The institute focuses on leadership skills, sales strategies, managing different generations and generating revenue; * Management Essentials for Supervisors: Introduction, April 6-11 in St. Pete Beach, Fla. Introduction teaches technical management skills, including hiring, interviewing, retaining, coaching, disciplining and firing; * Management Essentials for Supervisors: Advanced, April 6-10, in St. Pete Beach, Fla. Advanced will teach management skills, negotiating, ethics, branding and communications; * Compliance Fundamentals Seminar, April 26-27, in Atlanta. The school will cover more than 25 regulations that affect credit unions; * Regulatory Compliance School: Introduction, April 27-May 2 in Atlanta. Introduction covers National Credit Union Administration requirements and guidance, along with regulations for mortgage and consumer lending, deposit accounts and general operations; * Regulatory Compliance School: Update, April 27-May 1 in Atlanta. The school reviews Introduction topics and discusses e-banking, disaster recovery plans, compliance audits, Bank Secrecy Act issues and due diligence; and * CUNA Human Resources, Training and Development Council Summit, April 20-23 in Boston. Breakout sessions will be divided into human resources, training and an executive series tracks.
For more information, use the links.