Posted on Leave a comment

PSCU Partners with Q6 Cyber to further enhance cyber and fraud threat monitoring and intelligence capabilities

April 5, 2022 — PSCU, the nation’s premier payments credit union service organization (CUSO), today announced it is partnering with Q6 Cyber, a leading provider of e-crime intelligence for financial institutions worldwide, to better identify and respond to advanced cyber threats and fraud activity with greater speed, accuracy and effectiveness.

“Every year, Q6 Cyber identifies millions of hacked or compromised financial accounts, enabling our clients to preempt account takeover and fraud, while also substantially reducing payment card fraud by up to 50% year over year,” said Eli Dominitz, CEO at Q6 Cyber. “We look forward to working with PSCU to deliver these types of results to the CUSO’s Owner credit unions and their members to help them stay ahead of and combat cybercrime.”

Q6 Cyber will collect information from multiple sources, then analyze and correlate it to provide targeted, valuable and actionable intelligence to proactively disrupt cybercriminal and fraudulent activity directed toward PSCU, its Owner credit unions and their members. Additional services Q6 Cyber will provide include detection of mule accounts, Dark Web monitoring and analysis of compromised employee credentials.

“As we saw in PSCU’s 2021 Eye on Payments study, consumers are increasingly gravitating to digital and online experiences, leading to an increase in e-commerce and online transactions, which is in turn driving online fraud numbers even higher,” said Jack Lynch, chief risk officer at PSCU. “Our partnership with Q6 Cyber is primed to position PSCU to best help our Owner credit unions and their members combat cybercrimes, with a goal of stopping these types of fraudulent activities before they can even occur.”

PSCU employs a connected approach to combat fraud, utilizing a number of technologies and best practices to block fraud at the point of sale, in the contact center and online, among other channels – while delivering an enhanced cardholder experience. This includes PSCU’s proprietary Linked Analysis, developed by PSCU’s in-house fraud experts to prevent fraud before it happens by leveraging cross-network analytics. In fiscal year 2021, the CUSO stopped nearly $500 million in fraudulent transactions for its Owner credit unions and their members.

In addition, PSCU’s Enhanced Fraud Services addresses fraud concerns for credit unions with unique characteristics in their membership portfolio that require a customized approach. Credit unions receive an assigned risk program consultant who, on a daily basis, holistically analyzes the credit union’s fraud and risk mitigation initiatives. From there, risk program consultants build a customized program and response plan, which helps strengthen a credit union’s existing anti-fraud efforts in order to more quickly and accurately prevent fraud and reduce losses.

About PSCU

PSCU, the nation’s premier payments CUSO, supports the success of 1,900 credit unions representing nearly 7 billion transactions annually. Committed to service excellence and focused on innovation, PSCU’s payment processing, risk management, data and analytics, loyalty programs, digital banking, marketing, strategic consulting and mobile platforms help deliver possibilities and seamless member experiences. Comprehensive, 24/7/365 member support is provided by contact centers located throughout the United States. The origin of PSCU’s model is collaboration and scale, and the company has leveraged its influence on behalf of credit unions and their members for more than 40 years. Today, PSCU provides an end-to-end, competitive advantage that enables credit unions to securely grow and meet evolving consumer demands. For more information, visit pscu.com.

 About Q6 Cyber

Q6 Cyber is an innovative E-Crime Intelligence company based in the USA and Israel, serving the world’s leading financial, technology, healthcare, and retail corporations. We monitor the “Digital Underground” – a vast universe where cybercriminals and fraudsters operate and interact. Our 24×7 coverage includes not only underground forums on the Dark Web and Deep Web, but also malware networks, private messaging apps, and other technical infrastructure used by threat actors. We deliver targeted and actionable intelligence with unparalleled speed and precision, resulting in high ROI through significant reduction of fraud, cyber and data breaches, and other electronic crimes. Q6 Cyber is led by veterans of the NSA, US Secret Service, and Israeli Military Intelligence (Unit 8200). Learn more at https://www.q6cyber.com.

Posted on Leave a comment

Amid growing credit union demand, Trellance releases five new cloud-based products

April 5, 2022 – To meet growing demand by credit unions for cloud-based data analytics, Trellance is announcing the release of five new cloud offerings. 65% of credit unions have either invested in, or plan to invest and implement cloud-based solutions, according to a recent Cornerstone Advisors survey.

Trellance’s new cloud-based business analytics offerings are available by monthly subscription and include:

·       Episys M360 Cloud Edition

·       Keystone M360 Cloud Edition

·       DNA M360 Cloud Edition

·       Predictive Analytics Cloud Edition

·       A designated portal for cloud users

Trellance now supports the three leading core systems, Episys, Keystone, and DNA, enabling core data from these systems to be pulled directly into Trellance’s cloud-based descriptive and predictive analytics platform for data analysis and business intelligence. This decreases the costs and efforts required by credit unions to transform data into valuable information, while streamlining data integration and scalability efforts.

The native cloud technologies in the Trellance business analytics suite leverage artificial intelligence to identify patterns and suggest actionable insights. With AI-derived precision, it formulates strategies to reduce member attrition, identify clusters of behavior across members and suggest the most appropriate product based on each member’s unique experience with the credit union.

“Since the launch of our cloud platform in the fall of 2020, we have seen a surge in cloud propensity from credit unions of all sizes,” said Paolo Teotino, Trellance’s chief product officer. “With our latest cloud offering, we are democratizing credit union access to business analytics and artificial intelligence by offering it ‘as-a-service.’ The cloud technology makes it increasingly possible for credit unions to act faster, better utilize data, drive optimal business decisions very cost-effectively.”

Centra Credit Union AVP of Business Analytics Carrie Jenkins said CCU has recently entered into an agreement with Trellance to migrate their existing on-prem M360 platform to the cloud. “Not having to maintain hardware frees up resources that we can reinvest into getting the most out of the analytics applications provided by Trellance,” Jenkins said.

In addition to CCU, other credit unions that recently signed contracts to leverage the Trellance cloud platform include:

  • Central Minnesota Credit Union
  • Silver State Schools Credit Union
  • BayPort Credit Union
  • Del Norte Credit Union
  • First Financial of Maryland Federal Credit Union

As Trellance has increased its offerings in the cloud, the company has also further strengthened its cloud security posture. It recently obtained the Cloud Security Alliance’s STAR (Security, Trust, Assurance, and Risk) Registry Level 2 certification, which requires a rigorous third-party independent assessment and meets the highest security requirements in the financial industry. Trellance is also compliant with SOC 1 and 2 standards and is a Level 1 Service Provider certified with the Payment Card Industry Data Security Standard.

As Trellance continues to add credit unions to its new cloud platform, it still plans to support credit unions with on-premise infrastructure.

About Trellance

Trellance is a leading provider of business analytics and technology consulting for credit unions, helping them meet the financial needs of todays digital consumer. With a comprehensive suite of data science solutions, professional staffing and professional services, the Trellance team ensures credit unions increase efficiency, manage risk, and improve member experience. As credit unions’ tech partner, Trellance brings them to the next frontiers of fintech, filled with powerful tools such as artificial intelligence and machine learning. Data In. Insights out. Learn more at Trellance.com.

Media Contact:
Maren Bradley
Marketing Communications Manager
mbradley@trellance.com

Posted on Leave a comment

PSCU supports Children’s Miracle Network Hospitals and industry advocacy with credit union Cherry Blossom Ten Mile Run®

March 31, 2022 — PSCU, the nation’s premier payments credit union service organization (CUSO), will once again come together with credit unions, industry volunteers and members of Congress in Washington, D.C., to showcase the credit union difference on Capitol Hill and impact the lives of sick children across the country during the Credit Union Cherry Blossom Ten Mile Run®. Scheduled for April 3, the annual race is a fundraiser benefitting Children’s Miracle Network Hospitals, a consortium of 170 premier children’s hospitals across North America, and part of the Credit Union Miracle Day (CUMD).

For the 15th consecutive year as a lead sponsor, PSCU is once again proudly joining credit unions from across the nation as they come together as title sponsors of the 49-year-old race known as the “Runner’s Rite of Spring.” PSCU is helping to underwrite expenses, enabling the money raised to further research and provide medical care for patients at Children’s Miracle Network Hospitals. Since 2002, the race has raised and donated over $10 million to the non-profit organization helping treat millions of children across the U.S. and Canada. Nationwide, credit unions are the fifth largest fundraisers for Children’s Miracle Network Hospitals.

“We are proud to be a part of an industry-wide commitment to advocacy that enacts positive change in the lives of real people and contributes to the broad awareness of the importance of credit unions in communities across the U.S.,” said Chuck Fagan, president and CEO of PSCU. “With the ‘People Helping People’ philosophy at our core, we are proud to once again serve as a lead sponsor of this impactful event.”

The Credit Union Cherry Blossom Ten Mile Run® complements the active lobbying efforts of the Credit Union National Association (CUNA) and the National Association of Federally-Insured Credit Unions (NAFCU) trade associations. Over 500 Congressional staffers are among the thousands of runners, providing them with a chance to witness firsthand the community service and volunteer efforts credit unions contribute nationwide.

For more information on the Credit Union Cherry Blossom Ten Mile Run® and CUMD, visit CherryBlossom.org.

About PSCU

PSCU, the nation’s premier payments CUSO, supports the success of 1,900 credit unions representing nearly 7 billion transactions annually. Committed to service excellence and focused on innovation, PSCU’s payment processing, risk management, data and analytics, loyalty programs, digital banking, marketing, strategic consulting and mobile platforms help deliver possibilities and seamless member experiences. Comprehensive, 24/7/365 member support is provided by contact centers located throughout the United States. The origin of PSCU’s model is collaboration and scale, and the company has leveraged its influence on behalf of credit unions and their members for more than 40 years. Today, PSCU provides an end-to-end, competitive advantage that enables credit unions to securely grow and meet evolving consumer demands. For more information, visit pscu.com.

Posted on Leave a comment

Co-op ATM makes significant expansion in Maine, adding 60 retail locations to the network

March 30, 2022 – Co-op Solutions announced today that it is significantly adding to the number of Co-op ATM network locations in Maine – and making it significantly easier for credit union members in the Pine Tree State to access their accounts surcharge-free.

Through its partnership with ATM manager Payment Alliance International (PAI, www.gopai.com), Co-op ATM will add 60 machines in Hannaford Supermarket locations throughout the state. The new retail sites increase the count of Co-op ATM locations in Maine to 150, an instant 67 percent growth. Now that these locations are part of Co-op ATM, members of participating credit unions will be able to use these locations surcharge-free.

“Co-op ATM is the largest credit union-owned ATM network in the U.S., with more than 30,000 machines available nationwide for surcharge-free access by credit union members,” said Dr. Kathy Snider, SVP, Engage Products for Co-op Solutions. “The continuous addition of new ATMs to the network increases its value as a service to members. Maine is already one of the most active areas in the country in the Co-op Shared Branch network, and our increased ATM footprint now makes accessing Co-op ATM equally convenient.”

The Co-op ATM network is larger than any commercial bank network, with nearly 2,000 credit unions participating and featuring nearly 7,500 deposit-taking ATMs. The network includes a host of locator services, including the website at https://co-opcreditunions.org/locator.

Co-op ATM is part of a complete ecosystem of products and services from Co-op Solutions. In addition to Co-op ATM and the 5,700 locations that comprise Co-op Shared Branch network, the company offers members access to financial technology that allows them to make payments and interact with their credit unions via digital, mobile and online services – enabling them to engage with their institution whenever and however they want.

For more information, visit Co-op Solutions at coop.org.

About Co-op Solutions
Co-op Solutions is the market-leading financial technology platform whose mission is to connect credit unions to the technology, strategic partnership and scale they need to best serve their members now and into the future. Co-op partners with credit unions to unlock their potential so they can compete; does the hard work of innovation, creating a one-stop opportunity to help credit unions grow; and offers knowledge and expertise in a world where everything must be integrated. For more information, visit coop.org.

Contact:
Bill Prichard, APR
Director, Public Relations
Co-op Solutions
(909) 532-9416
Bill.Prichard@coop.org

Posted on Leave a comment

Great Lakes First FCU expands with eDOC mDTM

March 29, 2022 – Great Lakes First Federal Credit Union with 8,700+ members, based in Escanaba, MI, is expanding their existing eDOC Innovations’ DocLogic system as an integral part of their transition to a new core processor. Fully integrated with the credit union’s core of choice, CU*Answers, eDOC’s Mobile Enterprise Digital Transaction Management (mDTM®) automation process, including the eDOCSignature® e-sign solution, provide workflows for optimal remote closing capabilities that speed up member transactions and allow credit union staff to connect with members anytime, anywhere, on any device.

“We are excited to deepen our relationship with Great Lakes First with the addition of our integrated automation workflow, including eDOCSignature,” said Joseph Lao, VP of Sales and Market Development of eDOC. “Their commitment to collaboration is a perfect fit for us in our desire to drive digital transaction strategies in the industry. It is energizing to see our efforts embraced by peers who share eDOC’s goals of providing services that are intuitive, secure, and driven by collaboration.”

“We have been actively looking for solutions to streamline our processes, so we are better able to provide added value to the member experience,” expressed Wayne Johnson, President and CEO of Great Lakes First FCU. “We are pleased that we have found what we needed from our current imaging solution provider, eDOC. Their mDTM solution adds convenience to our members by automating our process and adding mobile remote delivery capability with eDOCSignature. We are scheduled for full implementation in over a month, and we are excited about the new process and added possibilities!”

About eDOC Innovations, Inc.

eDOC Innovations is the nationwide leader in mobile enterprise digital transaction management and e-commerce software for credit unions. For over 30 years, eDOC Innovations has been designing solutions to reduce overhead, increase operational efficiency, and provide convenience to members. eDOC Innovations’ products include solutions for remote mobile and in-branch closings, mobile e-signature processing, digital asset lifecycle management, intelligent and interactive form automation, mobile remote deposit capture, electronic statements, and more. To learn more about our technology, visit www.edoclogic.com or give us a call at 800-425-7766 option 3.