Pub. 8 2019 Issue 2

March/April 2019 17 l e a d i n g a d v o c a t e f o r t h e b a n k i n g i n d u s t r y i n k a n s a s Eric Durbin and Ty Brull (KBA endorsed vendor CalTech) pause for a photo during the tradeshow. Don Bolt (The Bank, Norton) visits with Bryan Grieve (First Data) during the grand opening reception. Dave DeFazio with StrategyCorps kicks off the second day of the conference with his session on The Amazon Prime Effect. Brice Porter and Kay Graham Scott (Silver Lake Bank, Topeka) watch a demonstration by Brandon Frye (MEA Financial). Chad Kelley (Central National Bank, Junction City) provides his group some exam and IT audit issues he faces during a breakout session. Stephanie Palmgren (Transfund) reads the lucky winner’s name for two $50 Visa gift cards. “The Amazon Prime Effect,” was an enlightening presentation by Dave DeFazio, partner at StrategyCorps, addressing how Fintech and mobile content has done more than provide exposure to alternative lenders and financing avenues. He explained, “We’re addicted to our phones. We’re using them more than ever. The winners in whatever category of business will be the ones that connect better with their customers’ mobile lifestyles and behaviors.” DeFazio believes that even the flagship personal banking product, the checking account, could be facing a significant makeover in the not-so-distant future. “There are companies that are kind of nibbling away at the stranglehold on the definition of the traditional account,” said DeFazio. He added that while the public tends to define their banking relationships now by which bank holds their personal checking account, things could be different “down the road.” Easy mobile access to P2P platforms such as Venmo, make it more convenient for traditional banking users to opt to store their funds elsewhere. DeFazio says that as consumers grow accustomed to whatever unique perks and advantages that Amazon and other platforms bring to the table for products such as a personal checking account, it could force traditional institutions to work much harder to stay attractive. Bank management have a duty to understand these trends and drive their banks beyond just transactions to better connect with today’s modern customers. Elliott Garbus, Internet of Things, closed the conference with his thought-provoking presentation titled, “The Future of Technology.” Zero fatalities. Mobility for all. Reduced congestion. Revealing the future of automated driving and connected transportation, Garbus shared how transportation will inevitably change our lives for the better. He stated, “Our world is growing more and more digital, and consumers want to be connected all the time. Increasingly, they expect the digital experiences in their car to align with the ones they enjoy outside the car.” Technology is certainly changing the landscape of the automotive industry and the convergence of technology from the car to the cloud will help bring about substantive changes to our lives and reshape industries. Garbus explained that driverless vehicles are a disruptive technology and can impact the automotive industry and supply chain, the banking industry, consumer lending, farming, mass transit, the oil industry and real estate. Following his engaging presentation, Elliott answered numerous questions from the group. There was also a sold-out trade show with 54 exhibitors ready to demonstrate a multitude of products for the industry. Conference participants were afforded numerous opportunities to interact with showcase exhibitors throughout the course of the conference making them eligible for prizes. Thank you to our sponsors: PLATINUM: Schools of Banking; GOLD: KBA Insurance; SILVER: CalTech, DCI; BRONZE: Commerce Bank. The 2020 Bank Technology Conference and Showcase will be held February 10-11 at the Wichita Hyatt Regency Hotel.