Trusted News for Credit Union Leaders
Credit Union Times
JULY 4, 2018 | VOL. 29 | NO. 23 | CUTIMES.COM
Y17
Finastra Move Brings Value to CUs
he London, U.K.-based
financial technology
company Finastra has
acquired the Austin,
Texas-based Malauzai, a provider
of mobile and internet banking
solutions for community financial
institutions.
The deal, according to Finas-
tra, reflects its commitment to the
U.S. retail and business banking
sectors by further enabling digi-
tal transformation for community
banks and credit unions.
“Credit unions and community
banks are the fabric of American
financial services. We strive to
help them realize the benefits of
digital transformation – including
being able to deliver outstand-
ing experiences right across their
consumer and business customer
lifecycles,” Simon Paris, CEO of
Finastra, said. “Together, our two
companies deliver a fully inte-
grated open core platform for pay-
ments, lending and digital, across
Finastra’s 4,500-strong U.S.-based
community market customers
and Malauzai’s non-core U.S.-
based customers. We value Ma-
lauzai’s market leadership and
its open approach, which is in
perfect alignment with our open
platform vision.”
The acquisition builds on an
already successful and proven
partnership between Finastra and
Malauzai, which saw the
STRATEGIC GROWTH
ROY URRICO
rurrico@cutimes.com
FOCUSREPORT:
MORTGAGE LENDING
With the refinance market slowing down, CUs are
focusing their energy on generating new mortgage loans.
Take note of the creative ways some CUs are upping
their mortgage game in this Focus Report. Y6
Must Reads
HUMAN RESOURCES
Shifting Hiring Priorities
As HR professionals at small
and medium-sized businesses
continue to focus on employee
productivity and make decisions based on performance
metrics, the majority feel their
department truly has the ear of
the C-Suite in helping to drive
overall strategy, according to
the 2018 Paychex Pulse of HR
Survey.
Asked to identify their primary
role, the top choice cited by HR
leaders was “strategic partner”
– “I provide valuable insights to
the leadership team that influences company decisions.” The
percentage of leaders who felt
their job was primarily administrative – “My job consists of
mostly paperwork and data entry” – was just 12%, a slight decrease from 2017.
Commensurate with being
viewed as a strategic partner
within their organization, the
top HR priorities for 2018 are
evaluating workplace productivity and efficiency (90%); having
staff training and development
programs (88%); focusing on
company culture to drive results
(85%); trainings for discrimination and harassment (83%); and
leveraging data to create optimal
profiles to attract the right talent
(71%).
More and more HR departments at small to medium-sized
companies are adopting tech-based HR solutions, and those
that did use them most for record-keeping (75%); Y16
Wiping Out
Stagnancy
Create a culture of
learning. Y14
Mortgage
Marketing
Changes
Say goodbye
to external loan
officers. Y8
CUs Eye
ATM
Upgrade
Deadline
CYBERSECURITY
TINA OREM
torem@cutimes.com
he countdown clock
has started ticking on
the looming end to support for an operating
system that powers many ATMs
– the latest in a series of ATM-re-lated deadlines for credit unions
in recent years – and pros say it’s
time to start getting ready.
On Jan. 14, 2020, Microsoft will
stop providing technical assistance and automatic updates for
Windows 7, meaning that if credit
unions don’t move ATMs to Windows 10 before then, they could
become more vulnerable to hackers and malware.
The shift could create a brand
new window of opportunity for
criminals, according to Keith
Eckert, who is a senior technical product manager at JHA Card
Processing Solutions.
“If somebody gained physical
access to an ATM, they could insert malware into Windows 7,” he
explained. “Windows 7 will not receive a security update that might
take care of that threat or that malware that was inserted. The malware would continue to reside on
the ATM and is a potential threat.”
Andrew Oasen, who is ATM
product manager at FIS Payments, said the primary Y18
