To ensure that technology aligns with strategy, community banks should develop meaningful baseline statistics, conduct an honest appraisal of results and provide a forum for continuing discussion.
“War is too serious a matter to entrust to military men.”
Georges Clemenceau, Prime Minister of France during the First World War, uttered this memorable line as the generals of the Western Front struggled to cope with new technologies introduced by the Industrial Revolution. For four years, the generals pushed their nation’s resources to the brink of exhaustion with little accountability or thought to overall strategy.
In a similar vein, many community banks struggle with the swift and often overwhelming pace of technological change. To manage continuous change and ensure that technology serves the institution’s overall business strategy, banks must focus on three important governance principles.