This blog concludes the Trends in Technology series on fintech, although I do plan on returning to the subject whenever I encounter a fintech subject that I think should be expanded upon. Each day, I invest approximately one hour reviewing email and other resources on fintech. It is possible that in the coming weeks something on fintech will catch my eye and become the subject of a future blog. We will see.

This series on fintech was never intended to be a complete resource for all things fintech, but rather an introduction into the many facets of fintech. I have had too many conversations over the past year with community bankers who weren’t all that aware of the potential of fintech. Hopefully, this blog has helped increase awareness.

There are volumes written about fintech these days. Some of it however isn’t really grounded in reality. For instance, I recently read an article that focused on the slow adoption of cardless ATM withdrawls. This is technology that has been available for the past two years! Today this technology isn’t available universally by all EFT providers. Rather than slow adoption, I would rather think it is being adopted just about as fast as it can be under the circumstances.

Fintech isn’t just a domestic issue here in the U.S. This morning I ‘attended’ a webinar on open APIs. There were presenters from the United Kingdom and attendees from all over the world. There definitely is a move towards incorporating APIs (open or not) into banking platforms to provide better service to bank customers. The webinar discussed that other businesses have APIs and have successfully operated with them for years. They will be coming to banking eventually.

The rate of change in banking driven by technology is going to rapidly accelerate. This means that your bank needs to be if not current, at least cognizant of what is occurring in bank technology today. Playing catch up in an ever-accelerating environment is going to be extremely difficult.

If you missed previous Trends in Technology blogs on fintech, I am providing links below. These blogs may be a starting point for you and other community bankers to assist in building your knowledge on fintech.

Fintech – Friend or Foe?

The Digital Experience

Don’t Hide Digital Payment Options Under a Bushel

Online Lending is a Perfect Opportunity for Fintech

Beyond Payments and Lending

Hey Siri/Contana/Alexa, Pay My Mortgage!

Let’s Build a Fintech Bank

More Competition Than You Can Count

Time for a Quick Update

What About Blockchain?

An Urgent Warning on Website Compliance!

A Lump of Coal

Preparing for Fintech Disruption

Are APIs in Your Future?

A Few Additional Steps to Prepare for Fintech Disruption

Mobile Payments and Selfies – What?

Some Interesting Developments