No weak links: Smart ways to fortify your credit union’s mobile banking security

2020-09-23T12:17:56-04:00January 13th, 2017|

At the turn of the century, American philosopher William James said, “A chain is no stronger than its weakest link.” James was thinking ideologically, but it reminds me of “Red Rover,” the playground game we all played as kids. Remember how teams sent out a player to try to break through the weakest part of the opposing team’s circle? That’s how hackers and cyber thieves look for vulnerabilities in your credit union’s security system.

Find the chinks in the shield

Thanks to the worsening epidemic of online fraud, ID theft and other scams, it’s getting harder to safeguard consumers’ personally identifiable information (PII). […]

Virtual StrongBox’s 4th Patent Protects File Transfer Between Devices

2016-12-13T09:24:45-05:00December 13th, 2016|

Contact: MJB Public Relations Group • (866) 714-7041 • margaret@mjbpr.com
FOR IMMEDIATE RELEASE

Patented security, unique APIs provide comprehensive data protection for high-risk firms

Charlotte, N.C. (Dec. 12, 2016) – Virtual StrongBox, Inc. announces it has received a fourth patent for its state-of-the-art software, which safeguards documents while moving them between different devices, as well as throughout the system.

Whether consumers are dealing with their financial institution, healthcare provider or insurance agent, they demand convenience … but not at the expense of security. For these and other high-risk enterprises, ensuring safety and positive customer experiences can be challenging. In response, Virtual StrongBox is […]

Is Your Bank’s Corporate Immune System Killing Innovation?

2016-12-13T09:13:38-05:00December 13th, 2016|

By Ron Daly, President/CEO
Virtual StrongBox, Inc.

Source: https://www.cbinsight.com/banks-corporate-immune-system-killing-innovation.html

While today’s technology is disrupting all industries, those of us in financial services think of it mostly in terms of digital bank services and marketing. We ask, How do our customers want to interact with us? Which digital strategies will make us most competitive? When will see a bottom-line benefit from our investment?

But when I recently got my annual flu shot, I started thinking about the ways new technologies are put to use in other areas, like fighting disease. The first flu vaccine was developed in 1945, and now researchers are closing in […]

Pitfalls Of Delaying Key Tech Decisions

2016-11-20T11:13:22-05:00November 20th, 2016|

By Ron Daly, President/CEO
Virtual StrongBox, Inc.
Source:
http://www.cutoday.info/THE-feature/Pitfalls-Of-Delaying-Key-Tech-Decisions

Members have no complaints about the credit union’s tech offerings, so it’s all good, right?

Wrong, says one expert.

“It isn’t wise to mistake radio silence for member satisfaction,” said Ron Daly, president and CEO of Virtual Strongbox, who added that it is essential to get out ahead of any potential issues before members start walking out the door due to dissatisfaction over the CU’s digital service delivery.

Daly underscored the urgency of sound technology decisions, pointing to digital banking milestones that show the shift toward mobile is now happening at an ever increasing pace, leading […]

How is Your Bank’s Customer Experience … Really? 3 Questions to Consider

2016-11-20T08:41:18-05:00November 20th, 2016|

By Ron Daly, President/CEO
Virtual StrongBox, Inc.
Source:
https://www.cbinsight.com/banks-customer-experience-really-3-questions-consider.html

It’s a sad fact, but the financial industry has a history of being slow to adapt to new technology. While many banks have spruced up their branches with customer Wi-Fi bars and touch-screen banking stations, most still use legacy core systems. But beyond the cost, core vendors, themselves, haven’t been very responsive to changing demands, so financial institutions mostly follow a “chewing-gum-and-bailing-wire” approach – tacking digital apps onto existing systems designed for physical branches.

Who’s in charge now?

The add-on approach may have worked when banks’ only competition was each other, and it was hard for […]

Western Independent Bankers Chooses Virtual StrongBox for Ultra Secure Data Storage and File-Exchange Services for Member Communications

2016-11-01T11:29:44-04:00September 29th, 2016|

Contact: MJB Public Relations Group • (866) 714-7041 • margaret@mjbpr.com
FOR IMMEDIATE RELEASE

Popular secure service channel offers ultra-safe alternative to legacy bank data security

Charlotte, N.C. and San Francisco, Calif. (Sept. 29, 2016)

Western Independent Bankers (WIB), a trade association serving more than 140 community banks, announced today that it has selected Virtual StrongBox, Inc., known for its secure document storage and file exchange.

WIB chose Virtual StrongBox’s cloud-based, secure data system because of its infrastructure, flexibility and proven ability to meet high-level security and data-protection needs.

Using Virtual StrongBox’s patented, protected customer engagement platform will provide WIB the strong security to meet […]

Time For Reinforcements Against Cyber Attacks

2016-11-01T11:29:44-04:00September 24th, 2016|

By Ron Daly, President/CEO
Virtual StrongBox, Inc.
Source:
http://www.cutoday.info/THE-tude/Time-For-Reinforcements-Against-Cyber-Attacks

Today, anyone with an Internet connection (and that’s pretty much everyone) is worried about identity theft, hackers and ransomware, and with good reason. Following a Reuters report in May, the Federal Reserve announced it had detected more than 50 breaches of its computer systems from 2011 and 2015, while denying that any critical operations were affected.

Meanwhile, the Fed issued more guidance on assuring adequate levels of security at financial institutions. And more recently, the OIG said it is auditing current exam processes to see if they accurately assess whether institutions are meeting those […]

Virtual StrongBox Chooses TeraGo’s Premier Cloud Services to Host Its Patented Secure Data Storage and File-Exchange Services in Canada

2016-11-01T11:29:44-04:00September 21st, 2016|

Contact: MJB Public Relations Group • (866) 714-7041 • margaret@mjbpr.com
FOR IMMEDIATE RELEASE

Charlotte, N.C. and Thornhill, Ont. (Sept. 21, 2016)

Virtual StrongBox, Inc., whose secure file-capture and end-to-end encryption technology has made it a leader in enterprise data security, announces it is expanding its North American footprint to Canada.

Virtual StrongBox has chosen TeraGo’s cloud-based, secure data centers for its infrastructure, flexibility and the company’s ability to meet security and data protection needs. TeraGo is an award-winning firm that provides businesses across Canada and globally with cloud solutions, network and voice services, data center services and enterprise infrastructure.

The new facility […]

Can You Square Up Legacy Systems With A Mobile-First Strategy?

2016-11-01T11:29:46-04:00September 14th, 2016|

By Ron Daly, President/CEO
Virtual StrongBox, Inc.

No. 1 on my list of overused, misunderstood phrases is “mobile first.” Google it and you’ll likely see: Mobile first means …

  1. “smartphones, tablets and task-specific apps employees use as work tools.”
  2. “a customer who manages his bank account on a mobile app instead of online or the branch.”
  3. “millennials, who do everything on their phones.”
  4. “advice for marketers to rethink their ‘customer experience’ and remap their ‘customer journey.’ ”

One prominent bank core-processor’s definition of mobile first is depressing: “It’s consumers who prefer to bank only on their mobile devices, or turn to the mobile channel […]

Banking Services: When “Nice” Becomes “Necessity”

2016-11-01T11:29:46-04:00September 12th, 2016|

Ron Daly, President/CEO
Virtual StrongBox, Inc.
Source:
https://www.cuinsight.com/financial-services-nice-becomes-necessity.html

Wouldn’t it be great to have a steady supply of Godiva chocolates anytime you want? How about Dom Perignon? Even better, season tickets to all your favorite teams’ games? Nice, but hardly necessities.

When banks first offered “convenience” services, like remote deposit and electronic bill payment, they were seen as “nice to have” for customers but not something a bank really had to offer. That’s changed. Retailers and service providers are expected to offer easy-to-use apps that consumers can access on their own tech devices anytime they want. In fact, 90% of the time Americans […]

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