Targeting Small CUs Corillian Launches Include Credit Union ASP, Multi-Factor Login Tool
PORTLAND, Ore. -- As promised, Corillian Corp. is making its move toward the broader credit union market.
Long a provider of online banking and now security services to large credit unions and banks, the company has recently announced the launch of an Internet banking platform specifically for credit unions.
Simultaneously, Corillian announced the availability of a multi-factor authentication system developed in-house by the Portland-based e-commerce technology provider.
Corillian currently claims 21 of the largest 100 credit unions and 30 of the largest banks as customers, with more than 35 million end users. Earlier this year, Corillian President/CEO Alex Hart told Credit Union Times the company considered smaller credit unions to now be a key part of its growth strategy.
The launch of Member Advantage, an ASP solution that offers credit unions a hosted, per-user pricing model along with features and best practices used by big institutions, was announced in November.
"Corillian Member Advantage incorporates the collective best practices and key usability features from some of the largest financial institutions nationwide into a quickly deployable, high-performing and cost-effective solution," Hart says.
He says the new service "underscores our commitment to better position credit unions for growth and success in the online channel." Features include real-time online enrollment, a broad view of current account information, integrated bill payment, multi-lingual and enhanced live and self-service member support and online security. That online security includes the availability of Corillian TrueStamp, a new Web site verification system embedded in the latest version of the company's intelligent authentication solution.
Rather than storing images that are then displayed to the user to confirm the site is real and not a phishing spoof, TrueStamp images are unique and created based on the configuration settings specified by the system administrator. Users also can generate a new image at any time through a self-service page.
In addition to eliminating storage, the system does not require users to browse, select and upload pictures, making it faster, and the image is only generated when it is needed, lessening the need for server storage and the time the image is available to prying fraudsters, the company says. Consumer concerns, illustrated in a new Gartner survey that shows 67% of users find it "extremely important" that a site identify itself to the end user, are helping to drive such new online safety techniques. "With the evolution of phishing attacks, consumers are demanding a security solution that provides site verification at the time of log on," says Corillian's Chief Security Executive Greg Hughes. The TrueStamp tools are part of Corillian Intelligent Authentication, an analytic solution that examines online banking behavior patterns to detect uncharacteristic or unusual actions that could indicate fraud. The company says more than 40 financial institutions are now using that platform. --firstname.lastname@example.org