Friday, July 07, 2006

Credit unions testing smart cards

Several credit unions have volunteered to let their employees test smart cards that if successful, may be offered to credit union members through CUNA Network Services.

Initial testing focused on five applications:

* My Accounts - members' direct link to credit union services including loans, online banking, and electronic bill payers

* My Wallet - e-wallet that stores everything necessary to initi-. ate an online credit card transaction

* My Profile - personal information form that holds the user's ID and automatically fills in forms where this information is requested

* My contacts - mail addresses, phone numbers, postal addresses

* My Favorites - Web addresses, login names, passwords

"I have been amazed at the level of interest credit unions have shown in smart card technology," reports Doug Benzine, new Executive VP of CUNA Network Services. "We are looking into wavs to include more credit unions in our second phase of testing."

The second phase is set to begin early in fourth quarter 2001 and last through first quarter 2002.


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