Making the Case for Responsible Innovation INNOVATION STATION The rapid pace of today’s financial services landscape pulls community banks in varied directions. You must balance technology upgrades with budgetary constraints and identify your bank’s pressing priorities. And as you look to evolve technology stacks, products and services to meet growing demands, I recommend keeping this point in mind: The best strategy is to invest in responsible innovation. Responsible innovation speaks to a walk-before-you-run mindset, identifying the combinations and permutations of innovation that will be the most beneficial and the least disruptive. You enjoy a unique, relationship-oriented business model that’s sacred, and it remains an attribute that needs to be guarded. So, seek out a way to move the innovation process forward with minimum impact on the qualitative nature of the relationship. BY CHARLES E. POTTS, EXECUTIVE VICE PRESIDENT AND CHIEF INNOVATION OFFICER, ICBA 6 | CURRENCY
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