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Strategic Technology Planning

Technology Planning should be seen as an opportunity rather than a chore!

Technology Planning should be seen as an opportunity rather than a chore!

Regulators are looking more closely at the credit union’s strategic business and technology plans today than ever before. The cost of technology is one of the top three expense items for credit unions, some which have no direct cost benefit other than being necessary to stay competitive. Strategic technology plans need to focus on supporting the credit union’s business plan while staying within budget. They also need to be flexible and can be modified when unforeseen events, like a new regulation, occur. PWCCA has assisted numerous financial institutions develop strategic technology plans that meet these criteria.

Economic Trends Hasten Transition to Digitization in Banking

The paradoxical combination of a tight job market and a looming recession is prompting financial institutions to deploy digital technologies to reduce labor costs, improve worker productivity and do more with less. Many banks have identified digital solutions as the way to stay competitive and grow.

Digital banking in 2022: Trends and statistics

The rise of digital banking has coincided with a decline in the presence of traditional banks, which have faced a loss of 9 percent of all branches across the country in the past four years.

What the Data-Driven Bank of the Future Looks Like

Banks have not effectively put the customer data they possess to work, much less the external data customers are also willing to share. With open banking redefining the entire financial landscape, failure to tap the power of data will become a competitive drag.

Chesapeake Bank develops system for instant virtual debit card issuance

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Strategic Technology Planning

Technology Planning should be seen as an opportunity rather than a chore!

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