by: Anthony Demangone
I remember paydays growing up. My father would go to the credit union and stand in line to get money. As did everyone else.
Friction.
The ATM reduced that friction.
I remember working in the credit union on payday. I'd personally get more than 100 calls, a super majority of which consisted of the following question:What's my balance?
Friction.
Online banking reduced that friction.
Your Aunt Edith sent you a check for $20. But you don't live or work near a branch. Friction. Reduced by remote deposit capture.
What's the next big thing?
I'm not sure.
But look for the friction.
That's where the gold is.
