February | 2018 | BankNews.com
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Monthly Archives: February 2018

Oklahoma Credit Union Selects IMM to Automate Some Teller Functions

February 28 — Oklahoma City-based Communication Federal Credit Union has integrated IMM’s eTeller Check21 solution into their traditionally manual teller processes. The $1.1 billion, 83,000 member institution hopes to increase efficiency and enhance member experience.

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Household Income Doesn’t Affect Financial Optimism

February 28 — A new survey conducted by McLaughlin & Associates, Alexandria, Va., on behalf of PenFed Credit Union, also of Alexandria, found that while three out of four adults feel financially insecure, 59 percent of those surveyed are optimistic about their financial futures. Interestingly, current household income was not a determining factor — households with incomes above $60,000 per year were only slightly more optimistic than those with yearly incomes below $60,000.

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New Loan Offers Early Pay-Off, With Take-Backs If Needed

February 28 — Consumers have always considered interest rates and speed of decision when determining which loan offer to choose, but a new study points to overall experience as an equally important, if not more important, factor for consumers weighing their loan options. Many would like loans they can pay down faster, but budgeting for early pay-off is tricky.

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Consumer Confidence Hits Highest Level Since 2000

February 27 — The Conference Board Consumer Confidence Index increased again in February, following a modest increase in January. The new number stands at 130.8 (1985 = 100), up from 124.3 in January. The Present Situation Index also increased to 162.4, up from 154.7, and the Expectations Index improved by 5.7 points, up to 109.7 this month.

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Trojan Attacks on Mobile Banking Apps on the Rise

February 27 — In a global survey of nearly 40,000 consumers, only 58 percent of survey participants were able to identify their official mobile banking interface from a fraudulent or “Trojan” interface.  Within the U.S., only 40 percent identified the true interface, while 42 percent mistook the fake Trojan version for the real thing.

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