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Imagine that!

Drones, phones, goggles could bridge ecommerce, banking, and shopping

Obvious and mediocre won’t be found here—but “Why didn’t I think of that?” will! Challenging the banking status quo is Dan Fisher’s personal mission. Obvious and mediocre won’t be found here—but “Why didn’t I think of that?” will! Challenging the banking status quo is Dan Fisher’s personal mission.

Drones have become pretty popular, along with virtual reality headsets paired to your smartphone. Drones raise the bar when it comes to remote control cars, planes, and helicopters, and they are much easier to fly than their predecessors. Virtual reality adds a new dimension to the video game experience, and for some of us that have a hard time standing in a 360 degree theater, virtual reality can really create a side-effect referred to as Spatial Disorientation. Regardless, the VR headset can create a whole new sensation.

Shop and bank personally virtually

Now imagine expanding the smartphone app for a grocery store layout that will pair with a virtual reality headset. The next thing you know, you put on the headset and you are walking up and down the aisle.

When you see the product you want, you use the virtual reality glove and pull the can off the shelf, read the label, and place it in your cart!

Too cool, right? If your friends are in the store, you can talk to them, too! What I’ve described is most certainly coming! Proceed to check out and then schedule a delivery or pick-up! Your call.

Maybe the delivery from the neighborhood store will be by drone. All within the realm of possible.

Take it to the next level. FaceTime is too blah. How about a virtual reality session with your banker, loan officer, mortgage representative, or relationship manager? Using the same technology, you can apply the same concepts to banking.

Expanding the concept, as you are conversing with your virtual reality loan officer, rates and terms are being displayed from the competition. Be it a car loan, mortgage interest rate, or certificate of deposit, it is all there online and on Saturday afternoon or late Friday night.

Lock up the deal and go back to your movie. Imagine that!

Why can’t such innovations come from banks?

It is OK to work for a financial institution and be creative, too! It is a great way to differentiate your institution from all the other community banks and jump out in front when it comes to demonstrating relevance.

Being creative and working in an industry that tries to avoid risk can be a challenge, but it is possible and can be fun!

Think about this: Not so long ago, banks were still moving a lot of paper around the country to effectuate payments.

Then the Federal Reserve created Check-21 and now more and more banks offer mobile capture for consumers and business on smart phones.

The Federal Reserve as innovator … imagine that!

—The Wombat!

Dan Fisher

Dan Fisher is president and CEO of The Copper River Group, a consulting firm headquartered in Fargo, N. D., that focuses on technology and payment systems research and consulting for community financial institutions. For nearly 30 years, Fisher has worked in the financial industry using technology to improve the bottom line. He was CIO of Community First Bankshares (now part of Bank of the West), has served as a director of the Federal Reserve Board of Minneapolis, the chairman of the American Bankers Association Payment Systems Committee, and was a member of the Independent Community Bankers of America Payments Committee. Fisher has written numerous articles on banking technology and the payments system. He has authored or co-authored six books and recently published a book titled, "Capturing Your Customer! The New Technology of Remote Deposit." You can contact Fisher at [email protected] or at 701-293-6222.
P.S. To understand Dan's nickname, check out "About the Wombat" on his website.       

More in this category: « Convergence! “But you said!” »
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