Technology: Innovators, Imitators and Laggards
Previously, I offered how credit unions should value technology as an interconnected, strategic capability to deliver member relevancy, and organizational worth of technology is dependent upon intrinsic views of it relative to the organization’s values, vision, mission and strategy. Therefore, the next logical evolution is asking oneself, as a credit union, “What are our cultural views of technology?” and “Where do we stand with respect to technical capabilities?”
First, what are our cultural views of technology? Culture is comprised of the values, norms, beliefs, attitudes and historical precedence within the walls of the organization. Additionally, modernist views of technology consider the methods, information and knowledge in providing products and services, as well as the tools and equipment used. Clearly a core system or a mobile platform is technology, but so are an organization’s capacity for information sharing and knowledge management, and processes related to serving credit union members.
Historically, what has been the technology precedence? What has been our past level of annual investment? Do we prefer to buy, rent or build technology? Have prior technology decisions been made with enterprise-wide consideration, or at a departmental level?
Second, where do we stand with respect to our technical capabilities? In this area, there are generally three types of credit unions that exist: innovators, imitators and laggards.