Long before Al Gore invented the internet, Technology played an important role in building humanity. The cotton gin. The light bulb. The wheel. All examples of simple industrial items that transformed interactions with people and commerce.
Without debate, Computers are as compelling an invention as any created before it or since. Exploring our solar system, using ultrasounds for studying our internal organs and communicating across the world as quickly as our thumbs can move are all because of the Computer.
The Financial and Banking Industries clearly have benefited from the advances of Silicon Valley. Just think how easily people can move money from one account to another. Or how easily transactions occur with the close connection of a mobile phone to an electronic reader.
Technology has also led to some worrisome moments as well.
Identity theft is on the rise and the CFPB is working diligently to understand the critical role the Technology plays toward ensuring consumer confidence, trust and safety, particularly with regard to online and mobile banking.
In this eNewsletter issue we focus on Technology, specifically, how it affects the Banking Industry. We will examine some future expectations and discuss products and services that use Technology to not only transform people and commerce but disrupt the common way of thinking about Banking.