Top 10 trends impacting bank technology for 2020
Editor’s Note: This is the original article submitted by Jimmy Sawyers for the March magazine. Due to space constraints, this version was condensed in the print version of Texas Banking. Sawyers has been writing about the “Top 10 Trends Impacting Bank Technology” since 2005.
By Jimmy Sawyers
Competition whose motive is merely to compete, to drive some other fellow out, never carries very far. The competitor to be feared is one who never bothers about you at all, but goes on making his own business better all the time." - Henry Ford
History is full of tech that ebbed and flowed until the right formula was found. Will we ever have significant adoption of self-driving automobiles? Or, will we have pods being propelled along on some type of track system? Which solution is safer and more efficient? It’s the escalator question. Should the stairs move? Should you move? Should both move? Design and workflow questions one should ask before launching any new tech.
Any soapy-handed traveler in an airport bathroom, hopping from one electric-eye sink to another as the water won’t flow (or stops flowing due to a timer) knows that tech can sometimes complicate and frustrate the user experience if not designed and operated properly. If the goal is 100% automation instead of 100% customer satisfaction, new digital services will often fail.
With an optimistic outlook for focused bankers who make their businesses better and go forth with confidence and sound strategy, I offer these predictions for 2020: