Trending now in IT: Security, privacy and Generation Z

From social platforms to wearables and machine learning, new technologies are coming at credit unions faster than many would like. And information management is becoming a much bigger challenge for us all.

Facebook, Twitter and other social, mobile platforms are teaching businesses how to market to consumers. At the same time, consumer privacy is slipping away. Every time someone arrives at the airport, eats dinner with friends or goes to beach, it is out there on social sites for the world to see. How consumers are going to manage their privacy remains a question going forward.

I serve on the steering committee for the Secure Payments Task Force, established by the Federal Reserve to involve a cross-section of industry leaders in an ongoing discussion about the state of the payment market. American Express and MasterCard also sit on this committee, as do many global financial institutions and big box merchants.

The Fed recognizes payment security as a critical issue for the nation and is committed to making strides on this front. Our sister committee, the Faster Payments Task Force, is chartered with bringing new efficiencies to the payment landscape. These organizations are going to prove critical for credit unions, transcending Money20/20 to shape an environment in which payments are both more secure and faster from the consumer perspective all the way up to the operations of large financial institutions. This is exciting to see.