Nearly twenty years ago, at the start of the new millennium, the internet was still in its infancy and the Y2K bug threatened to hold financial institutions hostage. Fast forward nearly 20 years and Y2K is a thing of the past, put to rest by a spirit of relentless innovation and transformation.
Internet capabilities continued to evolve as well, enabling a new means of commerce and accelerating the pace of technological advancements for years to come. Now, as we near the end of the second decade of the millennium and look toward 2020, the technology fervor continues, challenging banks and credit unions to evolve in an environment of changing economic indicators.
What does 2020 and the dawn of the next decade hold in store for community banks and credit unions, and where should they put their focus to achieve the greatest performance? We recently turned to Vincent Pugliese and Mike Dionne of Finastra, to weigh in on the most pressing trends of the upcoming year and to shed light on the priorities that community financial institutions should consider as they look to 2020 and beyond.