CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Jobs
  • Contact

News

Home » Technology shelf life becoming shorter

Technology shelf life becoming shorter

As the speed of technological change increases, IT must become a trusted adviser to internal departments.

January 16, 2020
Ron Jooss
No Comments
2019-09_Tech_116570

Maria Haight offers a simple analogy to describe today’s technology planning environment.

“It’s like picking up a rock because that’s one job that needs to be done,” says Haight, chief operations officer at $564 million asset Kellogg Community Credit Union in Battle Creek, Mich. “Under that rock you find four more projects.”

Two terms that come to mind in describing technology planning are “dynamic” and “exponential.” Market disruptions seem to be quarterly events, rendering formal plans all but out-of-date before they achieve their first milestones.

“Life cycles of solutions are shorter than ever,” says Haight. “I compare it to the car industry right now. People are buying cars more frequently, not because their cars are dying on them but because the technology in the cars is changing so drastically.

“People want that new technology,” she continues. “That’s what’s changing. The shelf life of technology is becoming shorter.”

Haight has been an information technology (IT) leader for more than 20 years, working in telecom, medical software, and consumer packaging in addition to financial services. She says what differentiates financial services most is working with the core processing system.

Brad Smith

‘IT must become a part of the conversation much earlier in the process.’

Brad Smith

“That’s the bread and butter of our daily life,” she says.

For that reason, it’s vital for IT to understand where each line of business at the credit union stands with its specific technology solution. That involves determining whether that solution needs to be updated, if problems exist with the solution, and whether it’s time to seek out a new vendor, says Brad Smith, managing director at Cornerstone Advisors, a technology consulting firm.

CUNA Technology Council

CUNA Technology Council

“Sometimes IT finds about issues late in the cycle when somebody from the line of business says, ‘We’re going to need to interface with the core,’” he says. “Sometimes IT is caught totally off guard. It happens at both big and small credit unions.”

Smith recommends that every credit union form an internal IT steering committee comprised of leaders from each business line.

Smith says IT has to be involved with each line of business at a level beyond “making sure the trains run on time.”

“IT needs to be thought of as a consultant and adviser,” he says. “They have to become a part of the conversation much earlier in the process. They can help the lines of business determine what solutions are out there and if they’ll work with the core system, or if you need to look for a new solution.”

Post a comment to this article

Report Abusive Comment

Credit Union Magazine: Winter 2022

Winter 2022

Credit Union Magazine’s Winter 2022 issue highlights data-driven marketing, the board’s role in cybersecurity, elder abuse scams, credit unions’ auto lending advantage, and more.
Digital Edition •  Subscribe

Trending

  • Reps introduce bipartisan Credit Union Board Modernization Act

  • CDFI Fund announces CUNA-sought delay to consider application changes

  • CUNA makes recommendations for CFPB personal data rights rulemaking

Tweets by CUNA_News

Polls

How do you feel about the economy in 2023?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us