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Q2 ebanking helps CUs meet new FFIEC guidelines

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AUSTIN, Texas (7/1/11)--Q2ebanking (Q2), an electronic banking provider for community financial institutions, said its clients are well-positioned to meet the revised Federal Financial Institution Examination Council (FFIEC) guidance for the security of electronic banking activities. The guidance, a supplement to the FFIEC’s 2005 “Authentication in an Internet Banking Environment,” was issued on Tuesday to address legal and technology changes, increasing fraud incidents and new authentication technologies. The guidance applies to both retail and commercial customers/members and will take effect in January. While it focuses on the Internet delivery channel, the principles apply to all forms of electronic banking, including mobile and voice, said Q2. Specific areas to improve risk and risk management techniques include multifactor authentication, layered security and/or other controls calculated to appropriately assess and mitigate risk. “More than two years ago Q2 looked at the FFIEC guidelines established in 2005, as well as the industry response,” said Matt Flake, Q2ebanking president. “We thought further efforts were necessary to effectively deter risk and fraud to protect end users. With this in mind, Q2 began making the functional investments to take online security to the next level.” Q2ebanking’s platform of online, voice and mobile banking solutions operates on a single security foundation. The collaborative multichannel approach helps its clients comply with the new, updated guidance, the company said. Q2’s risk and fraud analytics solution models typical transaction behavior to detect and flag potentially fraudulent transactions in real time. The security features comply with guidance by offering native out-of-band transaction authentication, security alerts, full administrative controls with dual authorization and multi-factor authentication and VeriSign tokens to protect consumer and commercial transactions.

Conn. league third to sign CUSG marketing agreement

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LIVONIA, Mich. (7/1/11)--The Credit Union League of Connecticut (CULCT) has signed a marketing agreement with CU Solutions Group (CUSG)--making it the third league to establish a partnership with the Michigan Credit Union League affiliate. The League of Southeastern Credit Unions and the Northwest Credit Union Association also have signed marketing agreements with CUSG. The agreement covers products offered by CU Solutions Group, including Invest in America member enhancement solutions with Sprint, General Motors, and TurboTax; website design, content, security, and applications solutions; full-service marketing support; and human resource solutions. The products will be available to CULCT member credit unions in the next few weeks. The arrangement includes opportunities for joint ownership, brand integration with CULCT, and joint sales efforts in the states served by CULCT. CUSG will use its sales force and marketing channels to promote the profitability of all affiliated members as part of its agreement with CULCT.