One of my favourite people in the credit union movement is Denise. She works for the Credit Union Association of New Mexico and has been associated with credit unions for years. Denise tells it like it is.
Her blog post today does just that. When I began reading it proved interesting from the fact that the 4 minute mile was a record broken in Vancouver during the Empire Games in the ’50s. There was a bronze statue commemorating the run erected at the site and as a kid you always wondered about how magical that moment was. Back then those types of events didn’t seem to happen as often as today so they always seemed magical.
The blog post points to something similar. But many, instead of experiencing that magical moment, will begin to sense a moment of dread. The key to exist as a business in this world is to be aware and be nimble. If you aren’t good at keeping your balance with the winds of change you’ll end up falling a lot. And getting up gets harder to do. Being aware and nimble should give you your greatest advantage which is the use of time. The new iPhone and possible iTunes payment system isn’t hard to see as a concrete possibility. It will be used but it won’t have everything that people will want. Those FIs that understand that and are prepared for change will find they will continue to exist.
I tend to see technology as pure technique. This is just another refined technique to be aware of and to see as a possibility to play to. Don’t forget ‘magic’ is a noun, adjective and verb.
Tinfoiling 
Thanks for the shout out Gene.
Mark and I were talking last night about the new technology and what it will mean to FIs. We agree, it’s not for everyone. But it sure feels like it’s going to be for the first timer – that elusive Gen Y- that won’t have to learn something new but rather buy something cool.