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Find Out Why Digital Banking Will Never Be the Same
Join us Thursday January 14 at 2pm Eastern/1pm Central/Noon Mountain/11am Pacific
One of the biggest financial stories to emerge from the pandemic has been the forward jolt to digital adoption for services like banking an e-commerce. Of course, the overall trend toward digital channels has been underway for some time. We at BIG have been preaching to credit unions for years the criticality of providing state-of-the-art online and mobile solutions to members in order to remain relevant in today’s marketplace.
As a result of the past nine months’ events we now have a broader population of consumers comfortable with digital channels. Don’t be lulled into thinking we’ve reached some sort of end game, however. Even for credit unions and community banks that successfully upgraded their offerings, the ground rules are about to change again.
If and when we reach the long-promised and clichéd “new normal,” some subset of recent digital converts will revert to their tried and true legacy channels. In all likelihood they’ll also retain these newfound digital options in their toolkits, however. This dynamic points us squarely toward the next stage of banking evolution- convergence. Imagine the potential when the power of these various channels can be harnessed into a fully functioning whole. It’s a bit like the Justice League!
And we’re not talking about only the branch, online/mobile, the call center and voice channels. Before you know it emerging technologies like artificial intelligence and augmented reality will factor into this equation as well.
On Thursday, January 14 BIG’s resident futurist, John Best, will share his vision of how such convergence will set the stage for the creation of powerful tools that will change the financial services industry and pose existential dangers for those institutions who fail to anticipate and plan ahead.
These new technologies often sound like pie in the sky until a national bank with a nine-figure R&D budget ushers them into the mainstream with a new product launch (Erica or Eno, anyone?), leaving thousands of smaller banks and credit unions playing catch up. We hope you’ll join us for a results-oriented discussion of how credit unions can avoid this fate.