Access Softek

Will Passkeys Finally Kill the Password? In addition to many other unique security features, Access Softek just launched passkey support. “Passkeys are an easier and more secure alternative to passwords. They let you sign-in with just your fingerprint, face scan, or screen lock.” Google “Passkeys are the future of authentication, …. Plus, they’re unique to each website or application, so you don’t have to worry about someone using your passkey to access other services. And unlike passwords, passkeys are resistant to phishing attempts, …. Best of all, you can use your passkey across all your devices, …” Microsoft “Passkeys are more secure than passwords, because they’re uniquely generated for every account by your own device and are less vulnerable to phishing. And they work on all your devices ….” Apple We offer the best security of any digital banking product. Author: Chris Doner, Founder and CEO, Access Softek Read more news from the Access Softek Blog: https://hubs.la/Q02ZBWZ30 #DigitalBanking #Passkeys #Security #AccessDigital

Join us as we explore the latest trends in check fraud, covering essential statistics, prevalent methods, and the current threat landscape. This session includes a live Positive Pay demo and insights from a robust fraud database, revealing key strategies to detect and prevent payment fraud. https://hubs.la/Q02Z5gfV0 #digitalbanking

Will QuickBooks Follow the Same Death Spiral as Quicken? As online banking developed more features the value of Quicken declined. What was once the most popular PC software application died as people moved to online banking to manage their finances. As business banking becomes more powerful the need for QB will follow the same path as Quicken. It will not be soon, but the outcome is clear. Business banking will gradually release all the features of QB at which point the advantages of a seamless integration between banking operations and accounting will make QB obsolete. In our view, the next big step forward is to include invoicing in business banking. Most small businesses have a dire need to get invoices out quickly to ensure the cash flow required to run their business. Invoicing completes the SMB money cycle of: request, receive and then dispense cash. As with most industry trends this represents an opportunity for those who pursue it and a risk for those who don’t. Let us know if you would like to discuss the future of business banking and how it can help your credit union. Author: Chris Doner, Founder and CEO, Access Softek Read more news from the Access Softek Blog: https://hubs.la/Q02YNM7t0 #QuickBooks #DigitalBanking #AccessSoftek

Elevate Your Financial Solutions: Unveiling the Power of Array with Access Softek Join our exclusive webinar where we dive into the transformative capabilities of Array's solutions in collaboration with Access Softek. Discover how integrated tools, including a full suite of embeddable credit tools (My Credit Manager) and a credit data workflow solution that supercharges marketing (Offers Engine), can enhance your customer experience and drive engagement. We'll also explore the broader suite of Array products designed to empower financial institutions and their consumers. Whether you’re looking to boost credit management or innovate your digital offering, this session will showcase a spectrum of solutions designed to build customer loyalty. Don’t miss this opportunity to see how Array can unlock new possibilities for your organization. Reserve your spot today and take the first step towards revolutionizing your digital experience! November 21, 2024, 10:00 AM Pacific Time https://hubs.la/Q02X4w0-0 #digitalbanking

?? We’re thrilled to announce a new partnership with Alacriti to accelerate the adoption of modern payment solutions! By integrating Alacriti’s Orbipay Payments Hub with Access Digital, we’re enabling financial institutions to offer seamless real-time payments, improve efficiency, and enhance the user experience. Read the press release: https://hubs.la/Q02XYQ790 #RealTimePayments #DigitalBanking #Fintech #AccessSoftek #Alacriti

Why Credit Union Execs Can’t Afford to Wait for Instant Payments In this webinar, Access Softek, in partnership with Alacriti will discuss: ? Why NOW is the time to adopt instant payments ? The latest updates on FedNow? Service ? The ROI of real-time payments ? Key strategies for credit unions to operationalize and monetize instant payments ? How to educate and promote instant payments to your members ? How Access Softek’s Access Digital Banking Platform enables a seamless instant payments experience for members. ? Lessons from financial institutions already embracing the future of payments. Join us on November 14, 2024, 11:00 AM Pacific https://hubs.la/Q02X55t30 #digitalbanking #fintech

Must-Have Digital Account Opening Features Here is the wrong way to do digital account opening: one size fits all, out of wallet questions, no support during the process, penny deposit and then make new members go through the verification process a second time to enroll into digital banking. That’s not a complete list of problems with today’s solutions but it’s a good start. 1. Personalization. Advertising and marketing have, for a long time, been all about personalization. Target the product and message to the specific needs and interests of each person. Digital account opening should do this as well. Different people should have a different account opening experience based on who they are. 2. Biometrics. Digital security is paramount for account opening. Out-of-wallet questions were a nice innovation 20+ years ago but are no longer sufficient for security or end user experience. Biometrics are faster, more secure and a must have for digital account opening. 3. 24/7 Support. Drop-off rates are high during the account opening process. What happens if someone trying to open an account at 7pm has a question. Using livechat and a chatbot for support is expected today for the website and for digital banking but it’s also required for account opening. 4. Integration. When all is said and done and you have a new member, eliminate redundant (and frustrating) data entry by integrating digital account opening with digital banking to streamline the enrollment process. 5. Real Time. Time to retire penny deposit account verification. A real time solution that also compares name and address on the application to the external account is required for security and UX. Your current solution that has been chugging along for the last 5-15 years is out of date. There is a better way. Author: Chris Doner, Founder and CEO, Access Softek Read more news from the Access Softek Blog: https://hubs.la/Q02XdXlJ0 #AccessDigital #AccountOpening #DigitalBanking

A Thought About Your Security Budget Many credit unions make the following calculation: Will this new product/feature cost more or less than the fraud loss it would have saved us based on last year's fraud loss totals. This is roughly equivalent to saying last year my house didn’t burn down so I don’t need fire insurance. Or, for a real-world example, think Patelco (a smart, sophisticated, credit union with extensive resources). Your security budget and the security profile of your digital channel should be based on minimizing maximum potential loss. Author: Chris Doner, Founder and CEO, Access Softek Read more news from the Access Softek Blog: https://hubs.la/Q02Ww4jS0 #Security #DigitalBanking #AccessDigital

AlphaFold, The Nobel Prize, and Credit Unions The Nobel Prize for Chemistry was awarded to the developers of AlphaFold.?The Nobel Prize in Physics was awarded to pioneers in machine learning. AlphaFold, by the way, uses AI to predict the 3D shape of proteins based on the amino acid sequence. This is one more significant illustration of how important and pervasive AI is becoming. Let me be clear, I am not predicting credit unions will be opening new VP positions for protein folding experts. But AI will completely change banking, your organizational structure and the nature of work. AI will be everywhere. Financial institutions have been making a transition to technology companies specializing in finance and banking. The next transition is from tech to AI. It’s a science fiction future but one can imagine an AI based credit union operating in the cloud completely independent of humans. Buckle up credit unions.?Here comes the future. Author: Chris Doner, Founder and CEO, Access Softek Read more news from the Access Softek Blog: https://hubs.la/Q02VTLhl0 #DigitalBanking #CreditUnions #ArtificialIntelligence

Nurturing Future Members: Boosting Acquisition and Financial Literacy for the Next Generation Discover how Access Softek is enhancing its Access Digital banking solution with the integration of the BusyKid application—a powerful tool designed to empower credit unions in addressing key challenges such as attracting younger members, boosting engagement and retention, and fostering financial literacy across generations. In this informative webinar, we will examine the pressing issues facing credit unions today and how the integration of BusyKid can provide effective solutions. Learn how this private-labeled financial literacy app offers a unique value proposition to differentiate your credit union in a competitive landscape. We will delve into an easy implementation timeline and demonstrate how BusyKid can seamlessly integrate into your existing systems. Join us to explore how this innovative platform can help your credit union cultivate meaningful relationships, build generational wealth, and create a lasting impact on community financial education. Register today and take the first step towards empowering your members and transforming your credit union's future! November 7, 2024, 10:00 AM Pacific https://hubs.la/Q02Vbfdw0 #digitalbanking