I am writing from the floor of CES 2010. From my account, the ABA Banking Journal is the only financial industry publication represented at the Consumer Electronics show in Las Vegas. It is interesting that the banking industry is absent from such an important, exciting and relevant conference. Moving on, why should financial institutions be interested in CES and in what is hot here?

First on the Hot List: Wireless technology not mobile technology is popular. The question is why use cable when you have WIFI? Every form of computing entertainment technology is exploiting wireless connectivity. Then if you are a financial institution, investing in cable systems could be a tremendous waste of money and should be reviewed. Wireless technology meets the security and safety requirements of financial institutions.
 
Next on the Hot List: cell phones and smart phones. Users of this technology, if you have read my blogs, have an insatiable “app”etite for cutting edge and entertaining features. Cell and smart phones are at the epicenter of the technology future of this user group. Nielsen just released their 2010 media industry fact sheet. In this fact sheet they reported that there are 223 million mobile phone users in the US and 21% of them are living in cell phone only homes. The point is that this user group as they continue to grow will continue to demand relevant banking applications on this platform. Things to consider, the future of smart phones and cell phones is moving into an integrated combination Smart Phone, D TV and 3G cell phone communications. Emerging is the trend to use a smart book hand held computer that becomes a personal and portable integrated communications and computing media platform. All in one if you will and the user defines the “all”. Financial institutions need to understand what “all” is evolving into.
 
Finally on the Hot list: 3D HD TV. It takes what is available only in theatres and delivers it in a personal user context. The interesting perspective of 3D HD TV; from my point of view, is only a stepping stone to holographic display for person to person or group to group communication and interaction. Ultimately, CES is a toy store that connects the present with the future and every financial institution should send a technology representative and member of management to get a peak at the future. Come and see the future. It is not that far away. I’ll have more details in my next blog so stand by.

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, and was 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.