How The Industry Has Changed

Banks are no longer primarily a place to store hard, physical financial assets, Carl Gersh, director of sales and marketing at solution provider Forthright Technology Partners, in Miramar, Fla., told IT Best Of Breed. Today, "banks are in the business of information brokering," with a customer's financial assets now digital rather than physical.

There's potential revenue there too, according to Craig Taylor, chief security officer at Neoscope Technology Solutions, a managed services provider based in Portsmouth, N.H. For example, a bank can engage in mobile transactions by working with, say, Apple Pay, can partner with a coffee shop to push drink coupons to its customers so that even the bank can pick up a few cents every time a customer buys a latte.

The ABA report offers a four-part approach to banks to capitalize on technology that will be of interest to solution providers.