The headline, spoken by “The Borg” in Star Trek: The Next Generation, is an apt description of web evolution. Web 2.0, though not a new term anymore is growing in popularity and describes the next version of web-based reality. The 2.0 story is compelling and about creative technological innovation that we just can’t resist. Web-based technology has forced its way into our lives in the form of social hot spots like Twitter, or wifi hotspots that keep us connected—our version of the collective. The impact of the web in our lives is growing and we can’t avoid it, no matter how hard we try. Science fiction has become nonfiction and resistance is futile!

The World Wide Web has morphed into the “world wide whatever”! It really is whatever we want it to be! The Digital Natives we’ve been referring to in this space are constantly connected and have a voracious appetite for technology. They are in a constant pursuit to discover the next best thing on the web before anyone else does, and post their discovery and victory on Facebook. It won’t be long before we will have web enabled eye glasses that will come with a pre-loaded e-banking product called “Blink n’ Pay”! No more cards, imagine that.

I can’t put my finger on when the web moved from 1.0 to 2.0 but it is here. New and innovating ways of exploiting the web are being announced every day… on the WEB! Thinking “Beyond The Bank”, taking time to travel the virtual world that is evolving around you, would be a great investment in your bank. I can assure you, it will be an exciting journey. Perhaps you should invite some of your digital native employees to give you a few ideas. After all, they are already there!

The Wombat!

About the Author
Dan Fisher is president and CEO of The Copper River Group, a consulting firm headquartered in Fargo, N. D., that focuses on technology and payment systems research and consulting for community financial institutions. For nearly 30 years, Fisher has worked in the financial industry using technology to improve the bottom line. He was CIO of Community First Bankshares (now part of BancWest), has served as a director of the Federal Reserve Board of Minneapolis, the chairman of the American Bankers Association Payment Systems Committee, a member of the Independent Community Bankers of America Payments Committee. Fisher has written numerous articles on banking technology and the payments system. He has authored or co-authored six books and recently published a book titled, Capturing Your Customer! The New Technology of Remote Deposit. You can contact Fisher at dan@copperwombat.com.

P.S. To understand Dan's nickname, check out "About the Wombat" on his website, www.copperwombat.com.