LAS VEGAS-A small credit union that has been a leader in developing and rolling out its own technology solutions has some pointers for others looking to do the same.
Mt. Lehman CU in British Columbia, Canada, has pioneered in-house application development, including a mobile banking application. General manager Gene Blishen offered this list of "don'ts:"
• Don't listen to the experts. "There were a number of times had we listened to the experts we never would have gotten where we are now," he said noting that being small can be an advantage because it ca ntake larger institutions longer to implement new technology.
• Don't make decisions based on fear or ignorance. "Learn IT from the point of not knowing and asking questions. If you understand your technology, which is probably the second highest cost on your balance sheet, it will pay you well."
• Never fail to fail. "Out of all our failures in product development, something else has emerged from it."
• Don't ever believe you've arrived. "Nothing is stationary. It just keeps moving."