Video transcript:
They put together these peer groups and they break them up by asset size, and so we were able to sit in and hear kind of the plight of the IT guy. You’ve got a lot of these guys that are single man shops that are really trying to wrangle how to get the technology in that they need to protect the institution, while still convincing the executives that they can afford it. You know, the biggest challenges, at the end of the day for them, are this balance between what the IT guy feels like they need, and what the executives feel like they can afford. Get a director that’s, honestly, someone kinda like me, that’s someone in their 40s, technology centric, and can offset the 70 or 80 year olds that are in the bank, to actually help provide technology direction, risk direction, and help educate these older board members, what they need to be thinking about to move the bank forward. Otherwise, you’re gonna have the same stagnant bank you’ve always had with the technology that’s just good enough, and not really something that differentiates you from the rest of the crowd.