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New fraud prevention tool for card issuers

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DES MOINES (7/22/11)--A new tool from First Data uses near real-time data to inform The Members Group and their financial institution clients the best fraud prevention strategies. First Data’s SpendTrend Insights Fraud Analysis Solution allows TMG credit and debit card-issuing clients to get an inside look at their portfolios and to compare them with First Data’s data. This allows credit unions and community banks to understand if they have higher-than-average incidents of fraud in a specific geographical region or within a particular type of merchant code. The information, which is accessible by TMG staff and by clients, is detailed in a graphical format. The solution also provides an ad-hoc functionality through which TMG fraud specialists can examine credit and debit transactions in near real-time. Specialists can use the tool to model new fraud prevention strategies to see the potential impact of a change. The results of those modeled strategies are available instantly, which allows TMG to make faster recommendations to its credit union and community bank clients. “When a credit or debit account becomes vulnerable to a fraudster, the first few hours are critical to minimizing losses for the issuing financial institution,” said Karen Postma, TMG cards risk senior manager. “The predictive analytics of First Data’s SpendTrend Insights Fraud Analysis Solution speeds up the decision-making process, which is absolutely key in preventing further costly attacks.” TMG is a wholly owned subsidiary of the Affiliates Management Co., which is owned by Iowa credit unions and their members. TMG’s core products include credit, debit, ATM, prepaid solutions, reporting and automated clearinghouse and asset-liability services.

CSS provider manages World Trade Center security system

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NORTH CANTON, Ohio (7/22/11)--Diebold Inc., a CUNA Strategic Services provider, is managing the installation, integration and maintenance of a complex security software system for the new World Trade Center (WTC) site in New York. Diebold is a CUNA Strategic Services provider. Diebold’s Situational Awareness Platform Software (SAPS) system will collect, correlate and display information from the WTC site’s critical security systems and provide identity management. Diebold’s integration efforts will connect systems to the WTC security command center through a single interface, giving operators control and views of the entire WTC site. To centralize management, Diebold will integrate devices and technologies, including identity, credential and access management systems; video surveillance systems; intrusion and fire alarms; building management systems; vertical transportation; digital intercom; radio communication; chemical, biological, radiological and nuclear detection systems; and vehicle scheduling and management systems. The systems that Diebold will integrate are interspersed among 11 primary buildings and facilities, including five skyscrapers, the third-largest transportation hub in New York City, the National Sept. 11 Memorial and Museum, a retail venue, a performing arts center, a vehicle security center and critical infrastructure facilities. Security is of utmost importance at the WTC site, both during and after construction. In addition to technologies it is incorporating to secure buildings and systems when the site opens for business, Diebold also implemented a perimeter security video and access-control system to secure the entire site during construction.

CUAnswers sums up 2011 efforts

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GRAND RAPIDS, Mich. (7/22/11)--During its Annual Leadership Conference, CU*Answers, a credit union service organization based in Grand Rapids, Mich., presented attendees with a statistical review of its operating year. Among the highlights:
* The company welcomed 16 new clients from nine different states as users of its CU*BASE cored data processing system. * More than 1.4 million members will be processed by 189 CU*BASE credit unions at the Sept. 30 close of the 2011 business year. * More than 11 new owners have joined CU*Answers in the past year, the biggest gain in that time period since 1999-2000, that brings total shareholders to 94 credit unions nationwide. While ownership is not a requirement, more than 60% of its clients are stakeholders. * CU*Northwest, CU*Answers’ cuasterisk.com network partner and regional provider of CU*BASE, also has 12 credit union owners.