Pub. 9 2014-2015 Issue 4

November | December 2014 29 Extraordinary Service for Extraordinary Members. tors plus key C-level officers from the technology, risk management, opera- tions, and business development areas of the bank. Third, ask each board member to identify the specific technology areas they would like to understand better. Then provide one-on-one or small group training. Some board members are visual learners who like examples while others learn better by reading. It is important to discern how each person learns best and provide them with the type of instruction that will help them absorb and retain the information. A good strategy for older directors is to explain technical topics in non- technical terms. I once worked with a board that was considering a proposal for increased bandwidth. Two of the di- rectors could not grasp the concept until I said, “Imagine that that you are driving your car on Interstate 94 and all of the sudden traffic is reduced from four lanes to one lane.” There was an aha moment and the bank got more bandwidth. Fourth, have a technology-focused presentation at every boardmeeting and at every board retreat. Some of these presentations should focus on current issues like cybercrime, systemupgrades, etc. while others address longer range strategic issues. Fifth, decide what type of bank you are when it comes to technology. Do you want to be on the bleeding edge where you will enjoy an early lead over your competitors by being the first bank in town to introduce something new? Do you want to be a quick follower that observes what other banks are do- ing and then copies those new technolo- gies that seem to be working for them? Do you want to be a straggler and wait until the last possible minute to give your customers what every other bank offers? Finally, prioritize technology initia- tives that enhance the customer expe- rience and improve the bank’s bottom line. Every bank has limited resources and getting a double return on invest- ment is a goal worth pushing hard for. A tech-savvy board is a successful board.  Jack Vonder Heide is CEO of Technology Briefing Centers Inc. and is one of America’s leading authorities on technology and its consequences. Vonder Heide’s conference presentations have consistently been chosen by audience members as the most valuable general sessions on the program. Technology Briefing Centers Inc., based in Oak Brook, Ill., is a premier research and education organization serving the banking and financial services sectors. The company conducts in-depth analysis of emerging digital technologies and their associated benefits and risks. For more information, contact Vonder Heide at (630) 789-8222 or jv@tbchq.com .