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Products Archive

Products

TMG rolls out fraudrisk analysis service

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DES MOINES, Iowa (3/13/09)--TMG (The Members Group) Wednesday rolled out its customizable Fraud and Risk Analysis program to help credit unions better manage credit and debit card fraud. In the program, TMG fraud experts use a custom process developed in house to analyze 12 months of a credit union's fraud cases to pinpoint where fraud is originating. They then make recommendations and help implement new fraud strategies to minimize future risk. In a beta test last year with Vermont State Employees CU based in Montpelier, the new strategies implemented stopped an estimated $20,000 in potential fraud loss for the credit union. According to TMG Cards Risk Senior Manager Karen Postma, the program is best with credit unions having a card base greater than 15,000 and having the flexibility to modify their fraud strategies. A typical program takes six to seven weeks to complete. TMG also recommends an annual analysis to stay on top for trends and to minimize risk exposure.

CUSO Financial Services on top businesses in U.S. list

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SAN DIEGO (3/13/09)--CUSO Financial Services (CFS) has been named as one of the top businesses in the U.S. and in California by DiversityBusiness.com, a business-to-business Internet site. The site's ninth annual list covers top small businesses in California and in the U.S. CFS made the "Top 100 Businesses" list in California, and the "Top 500 Businesses in the U.S." list. The list represents the top multicultural earners among companies ranging from $2 million to more than $2 billion in revenues. CFS, based in San Diego, serves more than 120 credit union, including 25 of the top 100 credit unions in the U.S.

Councils Best of Show uMonitors online switch kit

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WASHINGTON (3/13/09)--The uSwitch online switch kit from uMonitor, which allows members to transfer all their financial relationships to a different financial institution quickly and easily, was the winner of the CUNA Technology Council’s Best of Show Award. The award was presented at the Credit Union National Association’s (CUNA) 2009 Governmental Affairs Conference (GAC), held Feb. 22-26, in Washington, D.C. With uSwitch, members can switch any direct deposit transactions, transfer any payments that are automatically deducted from their accounts, switch loan accounts or credit cards, and close other financial accounts. It can be integrated into a new-account opening process and also can be available as a stand-alone service or in the branch or call center. The award is the first Best of Show award ever held at the GAC. Rudy Pereira, council chair and senior vice president of operations and technology for Alliant CU in Chicago, said that uMonitor’s uSwitch was a unique product. “It can save credit unions time and money while building their member base,” he said. Dinesh Sheth, CEO of uMonitor, Memphis, Tenn., accepted the award. Since 2001, the CUNA Technology Council has presented Best of Show awards to conference exhibitors that demonstrate a commitment to delivering technology that will further the growth of products and services in the credit union marketplace. Vendors’ products are evaluated according to affordability, the benefit to credit unions and their members, a commitment to open standards, current product use, and health of the company.