Published by Credit Union Times on June 20, 2016

By Roy Urrico

Three 10-minute sessions led by different presenters focused on third-party practices, mobile account origination vetting, and security lapse prevention at the CU InfoSecurity 2016 Conference in New Orleans last week.

NCUA guidelines and other regulatory framework have suggested credit unions apply due diligence to achieve security and safety when engaging in third-party relationships.

Alissa Fry-Harris, director of marketing at the Henderson, Nev.-based Bluepoint Solutions, which has its roots in contact document management for credit unions, centered her presentation on how providing convenience during the mobile account opening process requires precaution as well.

“From a security and compliance perspective, how can I be sure I’m gathering the right information and vetting my new accountholders appropriately to avoid fraud, or any other pitfalls of opening a bad account, especially when the member never even comes to the branch?” Fry-Harris asked.

She suggested credit unions look at the connection between security and compliance, even when attempting to streamline member processes. Fry-Harris described how Bluepoint Solutions’ account opening platform, Open Anywhere, for example, imports data directly from government-issued identification, mobile phone carriers and mobile device GPS data to reduce manual input requirements and authenticate people.

“You should use technology to integrate into the backend all the required items identifying your new member, making sure that you know who they are, they have control of their device and you understand their ability to repay,” Fry-Harris said.

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