Online Voting System Added to It’s Me 247
CU*Answers is introducing a new online voting system with the CU*BASE 9.4 Software Release, allowing members to vote online in It’s Me 247 online banking.
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CU*BASE Upgrade Includes New Security Audit Reports
CU*Answers continues to provide its credit unions with features embedded within its core processing system, CU*BASE, to assist them in remaining compliant in a strict regulatory environment. Some of the newest tools include two new Employee Security Audit Reports on the Auditing menu.
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CU*BASE Adds New Red Flag
To comply with Red Flag requirements to monitor things like address changes, a new Red Flag monitoring feature has been added to CU*BASE. This tool provides alerts to both the credit union and the member when changes are made to a member’s personal information to provide an extra layer of security against fraudulent activity.
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Instant Credit Configuration Added to CU*BASE
CU*BASE credit unions can offer “instant credit” on check deposits made at the teller line to selected members, similar to the manner that CU*BASE handles ATM deposits.
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CU*BASE Offers New Effective-Dating Option
A new tool to assist credit unions in handling account adjustments has been added to CU*BASE, the feature-rich core data processing solution offered by the West Michigan CUSO, CU*Answers.
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ACH Audit Spurs Compliance Reminder for CUs
CU*Answers recently underwent its annual ACH Audit to verify compliance with the NACHA Operating Rules and to meet applicable audit requirements. According to the ACH Annual Audit Report, no exceptions were noted. The recent Audit spurred the CUSO to publish a memo to its online credit unions describing the actual scope of the audit and
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CU*BASE Tracker System to Include Non-Members
In order to facilitate storing the results of OFAC scans, FinCEN scans, and other routine activity done on non-member joint owner, co-borrower, and beneficiary records, CU*Answers is designing an expanded Tracker system to include non-members.
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CU*Answers Enhances It’s Me 247 Online Banking Security
As part of CU*Answers’ ongoing commitment to keeping member information secure, the CUSO applied a configuration change to strengthen member security for It’s Me 247. This change will ensure member browsers always use the strongest encryption methods possible when connecting with online banking.
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CU*BASE to Add FinCEN Scans
CU*Answers, the CUSO that provides the enterprise core data processing system CU*BASE, is planning to add a new on-demand program that runs a credit union’s membership, closed membership, and non-member files against a file downloaded from FinCEN to comply with 314(a) requests.
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CU*Answers Assists CUs in Enhanced Due Diligence
CU*Answers continues to assist credit unions in completing due diligence to meet the guidelines of BSA, primarily associated with Anti-Money Laundering (AML). The CUSO providing the core data processing system CU*BASE, has completed Phase 1 of its Enhanced Due Diligence (EDD) project and is moving to Phase 2.