T7: The Trend of Trends 2021
Top 7 Trend Articles of 2021. . .
. . .For ISOs of Small Financial Institutions.
Welcome to our annual T7 article: a list of our favorite trend articles from the past year. Our intent: help you organize your thoughts as your work through your strategic planning process. We hope reviewing these articles will help you create a list of “outside-the-bank” ideas.
Some of the authors of these articles are friends of infotex, others we have not met. We have stayed away from mainstream authors (like Schneier or Krebs) and tried to make the trend articles “bank related.” We’re queuing up this year’s list like a David Letterman’s Top Ten list, saving our favorite for last!
Trend Article #7: The Magnificent Seven. Okay, we admit that we’re biased, but if you want an article that addresses the Top Seven Trends . . . as we see them . . . an annual list of the top seven trends that the typical community based banks may be facing. And, by the way, one easy way to start addressing them is to present our M7 list to your board of directors.
Trend Article #6: Dan’s personal favorite for 2021, No such thing as a false positive . . . reinforces something we’ve been saying for quite some time now. Its author, Tim Sandle, has been writing for the Digital Journal for quite some time now, and fits into Dan’s “idea reporter” category. Just by listening, Tim was able to write a great article like this! And the bottom line is that 2021 will indeed be the year of uncertainty. (We’re certain of that!)
Trend Article #5: The next great trend article, “FinTech Software Trends,” will help put us all on the same page about where things may be heading in 2021. It offers thought about what trends we may see stay because of the pandemic. The point that stuck out to me the most was tighter government regulations related to finance technology. Regardless of where we are in the next year, security is something our customers and our government is much more focused on.
Trend Article #4: Let’s face it, how can you be fully up on trends without reviewing a Gartner article on something? The Gartner Top Strategic Technology Trends for 2021 lists distributed cloud computing, AI engineering, cybersecurity mesh and composable business as drivers of some of the top trends for 2021. And, of course, it links to lots of Gartner products, articles, and books!
Trend Article #3: Another FinTech trend article that demonstrates how diverse and unpredictable Fintech (when you compare it to trend article #5)! Still, the first article focuses more on the software applications Fintech will make available soon, while this article addresses the implications of Fintech. With the pandemic bringing almost everything we do online, and the non-banking trend of younger people supporting small businesses rather than large corporations, I believe that more consumers will be opening accounts with fully online banks. If you are wanting to get your team’s arms around this crazy phenomenon, you’ll find 2021: Fintech Trends to Watch worth the read!
Trend Article #2: How can we complete your collection of trend articles if you didn’t include a drill-down on Digital Transformation. Well we did, because Jim Marous is one of our perennial favorites (and he always has an article ready when we are!). You may have already found it, by googling “what are the Top Digital Banking Transformation Trends for 2021?”
Trend Article #1: Wanna read a trend article that goes outside of banking . . . and into Wearables and Voice Technologies . . . in banking? Then Six Technology Trends for the Banking Industry is your article!
We can’t close out the article until we acknowledge Dan’s perennial favorite, Jimmy Sawyers, who has yet to produce a trend article for 2021. Still, his prescience shows . . . even in a pandemic . . . with his 2020 article! Especially the “digital moat!”
Original article by Dan Hadaway CRISC CISA CISM. Founder and Managing Partner, infotex
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