A CREDIT UNION TECHNOLOGY NEWSLETTER
F EATURES Is Your Credit Union
Is Your Credit Union
Leveraging the Full Marketing
Leveraging the Full
Potential of the Web?
of the Web?
Page 1 Internet Banking gives credit unions the opportunity to
Get the Most From market their services to a “captive” audience. Unfortunately
Your Marketing Budget this is often the most neglected part of the Web site.
Pages 2 - 4 Credit unions are often the home page. Often,
faced with the challenge of Many Internet when a member visits the
Can Your Credit Union’s competing against banks Banking platforms home page of a credit
Authentication System for their members’ finan- union’s Web site it is just
offer little more
be in Violation of the cial business. With typical- long enough to log into
ly fewer dollars to spend than a banner or Internet Banking. This
Graham-Leach-Bliley Act? pop-up ad in the
Page 5 and less resources to allo- means that credit unions
cate, developing a cost- most visited areas have only a few seconds
PM Systems Announces effective and sophisticated of the Web site. to grab their members’
WebFederal2TM Internet marketing program can be attention before they go
Banking Workshop in a difficult task. to online banking where
Tucson, Arizona To complicate matters further, more marketing is usually inadequate.
Page 5 members are using the Internet for Within Internet Banking credit unions
online banking and visiting the local have the opportunity to market their serv-
branch less. With less one-to-one con- ices to a “captive” audience. Ironically,
“Trade Secrets” tact with members it is critical that cred- most Internet Banking platforms offer little
Helpful Hints & Tips it unions capitalize on Internet Banking more than a banner or pop-up ad in
for Credit Unions technology to gather information about these areas of the Web site. PM Systems
Page 6 their members and effectively cross-sell Corporation designed the WebFederal2TM
services. Unfortunately, many credit Internet Banking Platform to take advan-
unions are not leveraging the full mar- tage of this opportunity and give credit
keting potential of their Web site. They union marketers a bonanza of marketing
mistakenly post the majority of their opportunities “behind the login”. Through
marketing material on the home page of WebFederal2TM credit unions can offer the
their site often neglecting the Internet Internet Banking convenience their mem-
Banking area where members spend bers need and deliver customized mar-
most of their time. keting with the warmth of a hometown
Many credit unions do not realize branch. WebFederal2TM maximizes every
that at least 90% of member activity is marketing opportunity and helps credit
spent behind the Internet Banking login unions nurture long-term member rela-
and less than 10% of their time spent on tionships at a very affordable price.
Get the Most From Your Marketing Budget
With WebFederal2 TM Internet Banking
An In-depth analysis of all the marketing opportunities available
within PM Systems Corporation’s Internet Banking Solution.
PM Systems’ WebFederal2TM Internet Banking Solution Global, Local & Seasonal Marketing Opportunities
offers credit unions a wealth of marketing opportunities Because PM Systems built the WebFederal2TM Internet
directed where members spend most of their time “behind Banking suite from the “ground up”, common marketing
the login”. Through WebFederal2TM credit union marketing capabilities were extended to all areas. Unlike our competi-
personnel can take advantage of the following features: tors, we own, control and designed the following systems:
• Internet Banking
Edit-In-PlaceTM Delivers the Message Faster • Electronic ACH Bill Pay
Our flexible and user-friendly Edit-In-PlaceTM technology • Electronic Statements
enables credit unions to change areas within their Web site • On-Line Automated Lending
as well as Internet Banking whenever they choose. No longer • Check Imaging
are marketing personnel held hostage to someone else’s • Indirect Lending
schedule. Every area within Internet Banking and the main • Ancillary Services
Web site is designed with the most robust marketing capabil-
ities currently available in the industry. * Wire Transfer Requests
* Stop Payment Requests
CRM Marketing Capabilities * ACH Debit Change Requests
* Check Withdrawal Requests
User specific promotions can help leverage and focus
* Address Change Requests
upon products your Internet Banking user has not subscribed
to. You can create a user spe- Control of these systems allows for the integration of
cific marketing campaign which marketing opportunities in each area. Credit unions have the
allows you to present up to four capability to extend their marketing campaigns into all trans-
cross-sell opportunities to your actional areas. Plus, they can create global, local and sea-
Internet Banking user. This sonal campaigns that may be turned on or off at will.
powerful feature is extended
into those areas users spend at
least 90% of their viewing time.
These messages can be cus-
Powerful Tools To Help Mar
tomized and personalized. This
presentation is far more power-
ful and professional than obnox-
ious banner and pop-up ads. This same capability can be
used to create customized pre-approved loan promotions
that advise your Internet Banking user of the specific dollar
amount of credit they have been approved for.
A convenient and easy-to-use console is provided to
manage the CRM campaign. Marketing departments will
appreciate the power, the flexibility, and the control they have
at their fingertips.
Ads are rotated as your member navigates to various
areas of Internet Banking. Because users spend at least
90% of their time within Internet Banking and Bill Pay, you
have an opportunity to aggressively market your services
without being overtly obnoxious. Why advertise your
Platinum Visa to a user who already has that card? The
WebFederal2TM CRM module prevents wasted marketing Easy-to-use console helps marketing staff develop and
opportunities and allows you to focus the user upon products manage CRM campaigns
and services they are not taking advantage of.
Global Campaign: Global campaigns can appear in major eStatement Marketing Payload
areas of the Internet Banking Web site including Bill Pay and PM Systems Corporation owns and controls its
eStatements among others. These campaigns include both eStatement operations and processes. Extensive
text and vivid graphics. marketing capability is extended to allow
Local Campaign: Local campaigns can appear only within your eStatements to also carry a market-
specific areas. You may only want a certain promotion to ing payload, newsletter, or other informa-
appear within your Bill Pay areas or Online Lending areas. tion you might insert into a mailed state-
ment. A convenient administrative area is
Seasonal Campaign: Seasonal campaigns may be turned provided to allow you to upload your
on or off depending upon your needs. For example, you may eStatement marketing payload. Upon open-
promote Christmas club accounts during certain times of the ing an eStatement, a member can be pre-
year and IRA accounts at other key times of the year. You can sented with your newsletter or marketing pay-
turn these campaigns on or off as your needs require. You load as the first page. This helps get your mes-
can also edit these campaigns as your needs change from sage out far more effectively than costly paper
time to time. statements. eStatements may also mask both
member number and social security number.
Member Notifications Often credit unions fail to do this with mailed
Keeping members informed is an important function all statements and this contributes to identity theft as
credit unions should take advantage of. Within the statements are commonly stolen from mailboxes
WebFederal2TM Internet Banking platform, member notifi- and other facilities.
cations are generated for:
• Balance Alerts
If your credit union is engaged in CRM marketing, you
• Transfer Notifications
may be identifying specific member needs. Often such cam-
• eStatement Arrival Notices
paigns directly engage the member via phone or other
• Bill Payment “Item Processed” Notices
means. Member Messaging allows you to communicate per-
• Insufficient Funds Notices
sonally, securely and directly with the member. When your
Each of these notices can carry a marketing payload member signs into Internet Banking, your message is wait-
highlighting specific promotions. This can amount to huge ing. The message may contain text and graphics and may be
marketing opportunities that cost the credit union nothing to personalized with your salutation. The member also receives
deliver. A simple to use online interface allows you or your an e-mail message advising him/her a message is waiting for
marketing personnel to build powerful marketing messages them within Internet Banking. This conduit may be used for
that are delivered as a part of the notification. personalized marketing efforts to targeted groups of your
rketing Personnel Effectively Manage CRM Campaigns
Member Notifications can be used to market credit Analytical tools provide numerous reports to determine
union services and promotions. the effectiveness of specific marketing campaigns.
members. It avoids the pitfalls of telemarketing quently spending huge amounts of their marketing budgets
yet allows for personal engagement within the in areas where members spend less than 10% of their
Internet Banking areas. time. MAP (Marketing Assistance Program) includes
hands on training in our facilities. PM Systems’ staff will
Analysis Capability train your personnel to use tried and proven techniques
Internet marketing lends itself to finite analysis. that produce measurable results. We’ll teach your market-
Our analytical tools provide you with numerous ing personnel how to create a campaign, measure the
reports. Our CRM marketing system allows you to results, and make dynamic adjustments to improve per-
determine the effectiveness of your marketing cam- formance.
paigns, the number of times a campaign has been If your credit union doesn’t have a marketing depart-
viewed and clicked through. The chart below shows ment, PM Systems Corporation can assist you and help
clearly that 90.28% of member traffic occurs within you manage an effective program. Give us the goals and
Internet Banking, Bill Pay and other transactional we will achieve the results. Your goals might be:
areas “behind the login”. For this credit union • Grow Bill Pay by 25%
less than 10% of activity is spent within the home • Increase Online Internet Banking Usage by 15%
page area. Savvy Internet marketing personnel • Increase eStatement sign-ups by 25%
will focus their marketing messages and cam-
paigns to those areas that lie “behind the login”. A Member Retention
focused marketing professional has all the tools necessary to
Member retention is easier if you provide a compre-
dramatically improve the results of online marketing at their
hensive suite of Internet Banking products. Fact: The more
fingertips. Elimination of postage, printing and other handling
online services a member uses, the less likely they are to
costs dramatically reduces marketing expenses and environ-
leave your credit union for another financial institution. Key
mental impact. Results are immediately measurable.
factors in a successful member retention program are:
Bill Pay Data Mining • Free Internet Bill Pay
• Free Internet Banking
Some Bill Pay vendors derive revenue by selling the pro- • Low Fee Structure
file of your member to 3rd parties. Most credit unions are not • Rapid loan approval and loan closing
aware of this practice and as a consequence, needlessly • Rapid and personalized response to member inquiries
expose their membership to competitor marketing cam- • Extensive online transactional capability
paigns created from member demographics. Your members
deserve their privacy. PM Systems Corporation does not sell PM Systems Corporation can help you achieve these
any member data whatsoever. This data remains the exclu- goals. Our pricing for Internet Banking can be as low as
sive property of the credit union and may be mined by the $0.15 per member and our Bill Pay is substantially less
credit union for the purposes of identification of marketing expensive than our competitors. These savings can give
opportunities. Example: Analysis of your member payees WebFederal2TM users the opportunity to provide free online
may reveal a portion of your member population who have services to their members. Our online lending systems ren-
credit cards from banks or other high cost financing entities. der decisions in 6-10 seconds, while providing a conduit
Using this information, you could present a specific campaign for the warmth of a human touch. Our TellerChatTM platform
to these members. This campaign could be designed to pro- allows your call-center personnel to communicate with
mote the credit unions low cost credit card. This capability members interactively and securely. The WebFederal2TM
could also be extended to recapture other member relation- Internet Banking platform offers the widest range of online
ships owned by competitors. Regardless of how your credit transactional capability in the market place and allows a
union decides to utilize this data, the key factor is: The data member to conduct 95% of their banking relationship
belongs to your credit union and no other entity. Your mem- online. Members who move away from your geographic
bers are protected from the resale of their demographics to area have little need to choose another financial institution.
competitors motivated exclusively by profit. PM Systems’ WebFederal2TM Internet Banking Solution
can help your credit union maximize every marketing
opportunity and nurture long-term member relationships
MAP Program without increasing costs.
PM Systems recognizes the need of advanced assistance
and training for credit union marketing professionals. Often,
personnel in these areas are more “print oriented” than
Internet oriented. Many marketing professionals have exten- For more information about the marketing
sive experience in traditional areas of marketing. Often, how- capabilities of WebFederal2TM call Tom Campbell
ever; they “miss the boat” when it comes to producing tangi- at 1.800.233.4052 x227 or send an e-mail to
ble results for the credit unions online delivery channels, fre- email@example.com.
Can Your Authentication System be in
Violation of the Graham-Leach-Bliley Act?
Many credit unions currently use antiquated two-way authentication systems to
allow access to Internet Banking, Bill Pay and eStatements. In some cases, these
systems may be extremely vulnerable or even worse, already compromised.
Is your credit union using this type of antiquated authentication
technology? Does your login process use only a 4-digit PIN and a
member number? These types of authentication systems are easily
Hackers attacked by automated hacking programs.
Love to Know Your credit union may be in violation of the Graham-Leach-Bliley
PIN Length! Act by providing an antiquated authentication mechanism. Under
GLBA, your credit union is required to provide authentication systems
that cannot be easily compromised. Programs like BankBuster™ can
often resolve both member numbers and passwords when attacking
these antiquated authentication systems. Hacking attacks against
financial institutions continue to rise. As the larger corporations tighten
up network security, these hackers are searching for easier targets.
Don’t make the mistake of thinking your credit union is immune.
BankBusterTM is a powerful testing tool for automated hacking scripts and DoS attacks.
For more information call Niels Taylor at 1.800.233.4052 x204 or e-mail firstname.lastname@example.org.
Don’t Miss The PM Systems’
WebFederal2TM Internet Banking Workshop!
Thursday, October 7th 2004
Following the XP Annual Conference in Tucson, Arizona
Spend another day in Tucson, Arizona to participate in an informative discussion
with PM Systems’ experts and other WebFederal2TM clients about the latest
advancements in our Internet Banking Solution for XP credit unions.
Open Session 9:00am - 12:00pm Open To All Credit Union Representatives
Open Session Subjects
Latest Module Offerings - to be announced.
WebFederal2TM Internet Banking will have several new and
interesting modules to offer existing and potential customers.
These will be announced closer to the time of the workshop.
Users Group Session 1:00pm - 3:00pm Open To Current Customers Only
Users Group Subjects
Discuss ongoing projects and enhancements
This workshop will take place at the Westin La Paloma Resort and Spa.
Space is limited. To participate call Tom Campbell at 1-800-233-4052 x227 or
e-mail email@example.com by Sept. 15, 2004 to reserve your seat.
HELPFUL HINTS & TIPS FOR CREDIT UNIONS
How To Show The Real URL
When browsing the Internet, the addresses your browser displays can become lengthy and
difficult to read. It may not be as simple as www.about.com <http://www.about.com>. This
Products can happen particularly when shopping on various sites. As the bad guys become more
sophisticated in redirecting users and attempting to obtain personal (e.g.: credit card) infor-
Services mation, it may be handy to have a simple way to check whether or not you are still on the
mine that information easily.
Just cut and paste the line above (everything in red bold) and paste it into your browser's
Internet Banking Solutions address field. A small window should pop up that reveals the name of the Web server that
is currently displayed in the browser.
Managed Firewall/Intrusion Excerpt taken from tip #706 at about.com
How To Effectively Erase All Data From Your Hard Drive
Information Security Before you discard or sell that old PC be careful! Formatting the hard drive does NOT delete
Assessments all data off the drive. You can buy software that will write to the disc by filling it up with ones
and zeros. Once the disc is full you can the format it and no one will walk away with your data.
Wide Area and Local Many people believe that formatting your drive deletes all data on the drive. This is not true.
Area Networks There are software manufacturers selling products that recover data on formatted drives. So
for your protection we recommend that you purchase software to write to the entire drive or
Application Servers damage the disc beyond recognition.
nio n Industry For
Credit U Nea
Internet/Intranet CU Trends The rly T
Installation, Setup gW De
A newsletter published by rin ca
and Consulting PM Systems Corporation as an t ne
educational service for our credit
union customers and friends.
Enterprise Wide Virus Any comments or suggested topics
Protection and Backup should be addressed to Carrie Marks
Solutions P.O. Box 459 Chapin, SC 29036
Phone: 800.233.4052 x255
Support, Support www.pmsyscorp.com
Carrie Marks; Is Your Credit Union Leveraging the Full Marketing Potential of the Web?, Page 1
Robert Broadwell; Get the Most From Your Marketing Budget with WebFederal2TM, Pages 2-4
Robert Broadwell; Can Your Authentication System be in Violation of the Graham-Leach-Bliley Act?, Page 5
Doug Raley & Chad Benson; Trade Secrets, Page 6
Return Service Requested US Postage
Post Office Box 459 Please e-mail PM Systems with any name or title changes Columbia, SC
Permit No. 535
Chapin, SC 29036
Toll Free: 800.233.4052