Tuesday, April 09, 2013 11:21:00 AM
ATLANTIC CITY, N.J. – CUNA EVP Strategic Communications and Engagement and former New Jersey Credit Union League President/CEO Paul Gentile kicked off the highly-anticipated 2013 Credit Union Reality Check in Atlantic City this morning at the conference’s Welcome Address.
Gentile opens the conference and warms up the crowd with some test questions for the audience to answer with their polling transponders.
As the Master of Ceremonies for the conference, Gentile introduced the audience to their digital transponders that they can use throughout the conference to answer poll questions asked by the speakers. He also discussed the importance of the credit union representation at a meeting this week with the House Way and Means Committee and Wednesday’s House subcommittee hearing on regulatory relief (see related stories below).
Gentile then turned it over to the conference’s first speaker, Max Wolff, Chief Economist & Senior Analyst, GreenCrest Capital, who opened the conference with an eye-opening presentation on the proliferation of mobile technology in the financial industry and how this “disruption” can equal “opportunity” for credit unions.
Wolff discusses the opportunities that credit unions must seize when it comes to technology and social media.
Wolff pointed out at over the past nine years, the Web has become fast and mobile, at our fingertips, which continues to cause what he calls “disruption”. “Text, photo, voice, video, dating, banking, are mobile, social, and evolving,” he said.
The future market leaders, according to Wolff, will: be nimble, mobile, partners in the Cloud that use big data and innovate and iterate to succeed. It’s a big pill to swallow, but credit unions can (and must) get on board.
Efficiency enhancing technology will help lower costs, spread your reach, break geographic confines, enhance your knowledge, and grow engagement with partners in financial intermediation and services, said Wolff. Your credit union can capitalize on these opportunities and benefits, or “you can wait and be leap frogged over”.