How do you know what to do, when you are not sure about the numbers behind the hype?
Disclosure: I have spent 25 years in the technology industry that has manufactured numbers as the indicator of what credit unions have to do: the “what.” But I am not sure that numbers ever really tell you the “why” or the “how” you will need for success.
Recently I sat through a presentation on a P2P platform that we will very likely add to our suite of online and mobile products later this year. It has a nice twist: it can be native to the user experience. And we are in the business, after all. P2P is a classic example of “what” we need these days. It has been for a while. It sits nicely alongside RDC, Apple Pay, A2A, and every other “what” we have to have these days to stay on the curve of where people are going.
One of the attendees asked for some usage numbers. He wanted some hint of the importance of this to members, some indication of what kind of splash it would make in his membership community. The presenter claimed that the standard accepted by people in the know is that a member would use P2P for about 5% of the bills they paid. And like many other things that start out small with a lot of promise, that got me thinking about how we all try to use numbers to justify our selections of the “what” we must do.Continue Reading