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Tchong at A.C.: Relentless innovation drives financial success
Entrepreneur and founder of Ubercool Michael Tchong told attendees yesterday that "no question about it, life is accelerating." During his keynote, Tchong focused on technology trends, their impact on society and how innovation is changing how businesses operate.
Tchong's keynote followed the awards ceremony at NAFCU's Annual Conference and Solutions Expo in Seattle; the conference runs through Friday.
Sharing examples of the proliferation of the iPhone and how Amazon has led to a change in consumer behavior, Tchong talked about how technology has created a new "digital lifestyle" and consumers now desire and expect connectivity, convergence and convenience. "If you want more millennial members, you'll have to do more digital connection."
In his address, he also identified some technological trends, such as heavy usage of mobile data and media consumption, saying "Technology is responsible for two-thirds of trends in disruption … And tech companies now constitute 25 percent of all market capitalization."
Tchong offered insights into how credit unions can compete in an environment with changing technology, stating that the industry must be laser focused on emerging trends. The No.1 tech trend today, per Tchong, is cryptocurrency, and bitcoin is a prime example.
The founder of Ubercool also laid into the power of change – a theme seen throughout this year's annual conference. "Change equals disruption," said Tchong, and "ubertrends" have the power to change values. He urged attendees to prioritize this and said, "relentless innovation drives financial success."
Many of these trends are being discussed this week at NAFCU's Annual Conference as attendees learn strategic planning tips to use changing economic, technology and political environments to their advantage.
More information on the Annual Conference and the Solutions Expo is available online.
Signature Sponsor of NAFCU's 51st Annual Conference is Strategic Resource Management. Other sponsors include Affinion Insurance Solutions, Allied Solutions, Co-Op Financial Services, CUNA Mutual Group, PSCU, The Clearing House and Visa.
The complete schedule of the conference is online. For up-to-the-minute information on the conference, download the NAFCU Annual Conference app, sponsored by CUNA Mutual Group and follow @NAFCU on Twitter with the hashtag #NAFCUAnnual.