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.”