Breaking Into a New Mindset of Innovation in the New Decade

Innovation, ideas

I’ve spent the majority of my career in the credit union industry and when I reminisce over the past decade, I often think about all the change that has occurred. Who remembers the days of processing transactions on a busy Friday afternoon and the unnerving feeling that occurred when the noisy Okidata printer ran out of paper while a line of members extended to the door? The simple upgrade of a printer made the turnaround time for processing transactions faster while also creating a more peaceful environment because it eliminated the need to talk over a piece of equipment. How about recalling the time of having to run your checks through a micro-film machine before Check 21?

In addition, we’ve seen the digital channel grow through apps, mobile check deposits, P2P payments and online account opening. We’ve also seen the transition from magnetic strip cards to micro-chip cards and now contactless cards. While I often hear leaders refer to these changes as process improvements, these are all great examples of innovation as well.