Technology is moving incredibly fast, and gradual changes could be futile, says the president/CEO of CUES Supplier member NewGround, St. Louis.

“Too many banks and credit unions are making a strategic mistake by rushing to introduce self-service technology in their branches,” he argues. “Technology is changing too rapidly for most credit unions to stay relevant. Loading branches with ITMs (interactive teller machines) could be a waste of money. In 10 years, we’ll all likely carry ‘the branch of the future’ in our pockets, making this technology investment obsolete.”

Read the full article on CU Management here.