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Cubus Solutions Newsletter: October 2015


Extortion and Data Breaches - The Growing Threat

I wrote a piece here in the newsletter a few months back that talked about the Ashley Madison breach that was subsequently picked up by the Credit Union Journal. The article talks about how the new extortion tactics are the latest threat to internet security. Now we’re reading about a new group of cybercriminals, calling themselves DD4BC (DDoS for bitcoin), who are blackmailing banks and other financial institutions with distributed denial of service attacks in order to extort bitcoins. A report by Akamai published earlier this month provides the full statistics available on the attacks and includes the emails sent by the group asking for ransom in bitcoin. DDoS attacks are nothing new, but the emergence of bitcoin as an anonymous medium of exchange has dramatically reduced the risks for the attackers. Stuart Scholly, Senior Vice President and General Manager, Security Division at Akamai said that the latest attacks – focused primarily on the financial service industry – involved new strategies and tactics intended to harass, extort and ultimately embarrass the victim publicly by sending GET requests to the target, thus overloading its website. One of the financial institutions apparently struck was major Australian financial institution, Macquarie. It’s mostly happening in Europe, but what happens in other countries, usually migrates its way to the US. Just another reason to be diligent about security and keep up to date on the latest threats.

The Akamai Report   John-Ashley's Option Piece

~John-Ashley Paul, President/CEO

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Trending: Millennials

The National Credit Union Administration reports that the average natural age per credit union member account is over 50 years. Credit unions need to be working aggressively now to attract and retain younger members to prosper as a viable financial services provider in the future.  Click the button below to read five ways to position your credit union to attract millennials.

5 Ways to Attract Millennials

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Congratulations are in Order

Credit Union Journal just named the 45 “Best Credit Unions to Work For” for 2015 in their second annual ranking. Cubus has four clients on the list: Los Angeles Police Federal Credit Union, Lake Trust Credit Union, Town & Country Federal Credit Union, and Deseret First Credit Union. Cheers to our clients and all the credit unions on the list for raising the bar in this industry!

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Adding to the Cubus Family

Welcome to our newest customer, Town and Country FCU who licensed Statements, Letters, Alerts and Skip-A-Pay. Town and Country is located in South Portland, Maine, and has over 31,000 members.

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What We're Reading

Double Duty Your Transactional Emails - Because transactional emails contain messages that people want or need, they tend to have dramatically higher open rates and higher click-through rates than other types of emails — often 2-3 times as high. By making your transaction emails do double duty, you can provide people with relevant information in unexpected ways. Click the button below to read the Financial Brand’s advice on how to double duty your transactional emails to provide people with relevant information in unexpected ways.
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Upcoming Webinars

Tues., 10/20 Skip-A-Pay - UD. Fully Automated Loan Skip Program.
Tues., 10/27 Skip-A-Pay - DNA. Special Guest Speaker Brad Donham, RCG

Wed., 10/28 & Thurs., 11/19

Cubus Online and Mobile Banking – Considering a change in 2016? What’s New and What’s coming in 2016 for Cubus One.
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