August 25, 2020
Featured Story: New Release: SWITCHWARE® 4.1
Highlights: SWITCHWARE®4 TR-31 Key Block Support, IBC Deploys G4 Web Applications, New Release: G4 MIS Reports, NBB Deploys Pilot Tokenization Program, G4 1.5 Update
Manama, Bahrain: National Bank of Bahrain (NBB) is now live with a tokenization pilot (via the Bahraini-based Benefit switch network) for both debit and credit card applications using their employees. Token life cycle and token transaction authorization is fully functional. NBB will expand their pilot to include cooperating business users before release to their entire customer base. Recently live with SWITCHWARE® for Linux, NBB has been a CSFi customer for over 35 years.
Tokenization is the process of protecting sensitive data by replacing it with an algorithmically generated number called a token. Often, tokenization is used to prevent credit card fraud. In credit card tokenization, the customer’s primary account number (PAN) is replaced with a series of randomly-generated numbers, which is called the “token.” These tokens can then be passed through the internet or the various wireless networks needed to process the payment without actual bank details being exposed. The actual bank account number is held safe in a secure token vault. Payment experts are seeing more and more organizations moving from encryption to tokenization as a more cost-effective (and secure) way to protect and safeguard sensitive information. One of the most widespread uses of tokenization today is in the payments processing industry. Tokenization allows users to store credit card information in mobile wallets, ecommerce solutions and POS software to allow the card to be recharged without exposing the original card information. Tokenization replaces sensitive cardholder detail with a stand-in token. This helps secure the customer’s bank account details in credit card and ecommerce transactions. Unlike data that is encrypted, tokens are not mathematically reversible with a decryption key and PAN data is never displayed.
The latest installment of G4-Web Version 1.5 is almost here! Our ongoing development of this popular web management tool represents CSFi’s commitment to providing our customers with superior ATM/debit payment processing and switching solutions.
Version 1.5 features and enhancements include:
● User “Site Wide” Administrative Enhancements
● “Institution Level” User Administration
● Transaction Research Enhancements
● Full Cardholder Management
● Full ATM Management
● Management Reports (MIS)
CSFi High Availability and Disaster Recovery Solutions (HADR)
Operating in today’s round the clock global economy, means mission critical applications cannot afford to be off-line for even a small period of time. Natural disasters and increasing requirements for 24/7 operations means the need for high availability solutions is greater than ever before.
CSFi’s high availability support solutions offer a variety of proprietary in-house options for increasing system efficiency and reducing downtime…because, stable system operations and maximized up-time are vital to the success of any large-scale banking operation.
What is High Availability?
High availability is a term used by the IT industry to describe the accessibility and up-time of critical application environments.
System outages increase the total cost of IT ownership, cause potential damage to client relationships, brand reputation and loss of revenue. Financial institutions cannot afford to allow disruption of any critical delivery channels, including SWITCHWARE® or EZswitch®.
High availability is a key component of effective disaster recovery and system resiliency. While hardware has become highly reliable, unplanned outages do occur and typically result from operator error, environmental conditions and other non-hardware related factors—problems that reliable hardware cannot prevent.
In-house disaster recovery solutions make economic sense, and give you greater control over your systems environment…More than ever, financial institutions are moving towards their in-house disaster recovery operations based on continuous data replication between geographically dispersed locations. Modern disaster recovery solutions require both geographic dispersion and recovery point objectives. Pending compliance mandates will likely require your IT department to prove periodically that you can recover operations at a remote facility.
Recent reductions in cost and improved ease of use have made downtime reducing technologies including modern cloud-based disaster recovery more accessible than ever…Even small and mid-sized companies can now afford the “luxury” of real-time, offsite data protection, as well as rapid and complete data recovery.
|CSFi HADR solutions…meeting the challenge:|
|● Out-of-the-box support for all major applications, databases and replication technologies across heterogeneous physical and virtual platforms|
● Ensures consistent business continuity process across data and applications
● Protects against application, network, or storage failures
● Handles increased management complexity from multiple vendor-specific tools that work in a virtual or physical environment
● Automates and accelerates recovery from unforeseen errors
● Enables non-disruptive high availability testing and more…
● Integrated extension of your host operating system technology
● Ease of management
● Ease of deployment
High Availability and Disaster Recovery Planning
CSFi can help evaluate your unique business continuity risks and challenges. We will explain the fundamental concepts of high availability, present key considerations, and make suggestions critical to choosing the right high availability and disaster recovery strategy for your business environment.
Consult with a CSFi representative
Newman, IL: Longview Capital Corporation is a closely held multibank holding company dedicated to serving rural areas of central Illinois and West Central Indiana. For over a decade, Longview Capital has relied upon CSFi to provide the most advanced technology available to support the connection between their Precision core banking systems and EFT networks.
The virtual implementation of their EMV compliant upgrade from EZswitch® Plus to EZswitch® G4 benefits both the cardholder experience and the bottom line by taking advantage of the latest EZswitch 4.0 enhancements.
EZswitch G4 base system functionalities include online ATM/debit issuer authorizations, real-time online card maintenance (OLCM) updates, single point of card maintenance entry as well as an expanding menu of additional features and options reducing fraud losses and streamlining management of debit card operations:
- G4 Web-based Apps real-time transaction and cardholder research and reporting, full system monitoring and job/task schedule managing
- FraudBlock™ integrated, rules-based, real-time fraud detection and prevention system
- Sentinel™ II Alert Notification System providing unattended monitoring of ATM’s, core system interface EFT connections and more
- Support for Cardholder Alerts via email and SMS-text
- On-demand ATM/EFT Network Denial Rules
- ATM Inactivity Alerts
- Stand-in authorization using a positive balance file (PBF) and/or card limits
- Secure, single point of card maintenance entry
- System health check monitoring including all connections and database status
- Reconciliation subsystem
- Advanced “drill down” capability for transaction and cardholder research and reporting
- Automated job/task schedule management
- Audits and logs of all user activity and much more….
The G4 web-based apps intuitive navigational tools enable every user to easily employ the new system’s full capabilities; including at-a-glance real time system wide monitoring and advanced card maintenance and transaction research and reporting.
Register now at CSFi.com to enable access to our web resources. Gain access to brochures, videos and additional information describing the features and benefits of EZswitch®, G4, EMV support, FraudBlock™, Virtualization and our entire suite of products, services and solutions.
The ECB Lays Down the Law
To protect the integrity of EURO banknotes, the European Central Bank (ECB) has issued mandates describing currency management protocols.
The ECB measures are deemed necessary to protect Euro banknotes against counterfeiting and require ATM operators within the Euro area to withdraw from circulation all Euro banknotes known or suspected to be counterfeit.
ECB Article 6 Terms of Reference provides details of different note categories, how each is defined and handled, and actions to be taken regarding the traceability of banknotes classified as, or suspected to be, counterfeit.
CSFi and SWITCHWARE® already support ECB certified NCR cash deposit solutions compliant with Article 6 of the European Central Bank (ECB) Council Regulations. Support for Diebold Nixdorf solutions, once certified, is imminent.
SWITCHWARE support for both NCR and Diebold Nixdorf solutions includes customizable ATM Electronic Journal and customer receipt mnemonics accounting for all notes seized at the ATM.
Keep your G4 payment processing platform optimized with latest updates from CSFi. With Version 1.4 just released and V 1.5 just around the corner it pays to stay abreast of the latest developments.
Version 1.4 enhancements and improvements include:
● Additional and enhanced Network Status Icons
● Enhanced ATM load, Unload and Reload Commands
● Creation of a General Ledger Tab for ATM records
● Added “General Notes” section to ATM records
● And much more…
Globally established as a safe, highly secure and popular payment method, more and more merchant payment terminals include a contactless payment symbol indicating that NFC payments can be made at the terminal.
Contactless or Near Field Communication (NFC) payment methods include bank issued debit/credit contactless cards, key fobs, mobile devices (using Apple Pay, Samsung Pay, Google Pay, Fitbit Pay, etc.) or any financial institution’s mobile application with contactless support.
Faster and more secure than transactions performed using dip or swipe contact cards, contactless NFC transactions are performed by consumers placing a contactless card or device within two inches of a contactless device to initiate their payment. While Contactless payment transactions have the same protection as chip and PIN payments, a contactless NFC transaction can be conducted without entering a PIN which has some inherent risks associated with it.
SWITCHWARE® support of contactless payment transactions allows for the unique identification of contactless transactions from acquiring payment terminals. By identifying these transactions, SWITCHWARE allows financial institutions to implement customized cardholder transaction limits, including daily, and per transaction PIN-less limits on NFC transactions purchases and withdrawals.
When these limits are reached, the financial institution has the ability to reject the transaction authorization request or force the cardholder to perform a “contact” transaction with a PIN reducing fraud and mitigating risk. In some regions of the world, including Europe), Visa and MasterCard are also supporting more stringent measures for tracking and managing contactless transactions. Under the more stringent measures, once a Low Value Transaction (LVT) limit is reached (established by the card issuer), the issuer can respond with a specific decline code instructing the cardholder to enter a PIN on a PIN entry device (PED) instead of requiring an additional tap at the PED or the need to perform a chip and PIN transaction.