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An existential struggle for product developers is finding optimal product/market fit. When it comes to products encapsulated in technology Millennials are usually seen as the best market fit.

Millennials, the Technology Enthusiastic Young Adults, are a Fertile Market

Targeting Millennials is understandable. Ranging in age from 23–38, they are heavy users and fast adopters of technology. They comprise a huge population and, while they do not earn or possess assets comparable to older adults, their careers are on an upward trajectory, and they are positioned to inherit significant wealth.

This combination of attributes leads product developers to associate with Millennials a high expected lifetime value (LTV).

Millennials exhibit high use…

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Among older adults giving up the car keys increases the risk of depression, isolation, even of ending up in assisted living according to studies.

Inability to operate computer and smart phone applications carries even broader exclusionary effects, including from social interactions, employment, information and entertainment, financial transactions, modes of transportation, and aids to health and wellness.

Technology Development is Ever Accelerating

Technology innovation is super-charged by economic incentives, unconstrained by law or social norm, and facilitated by an ecosystem in which new developments provide a platform upon which newer developments are created. …

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IT implementations fail at an astonishing rate. Some, such as CRM systems, are notorious. The impact of failure is brought into focus by considering the massive investments organizations plow into technology. Gartner forecasts enterprise software spending worldwide to reach $466 billion in 2020.

Why Do So Many IT Deployments Fail?

Forrester and other analysts cite non-adoption by users — avoidance, workarounds, even sabotage. Many organizations have little understanding of what drives technology adoption or how to design interventions to facilitate the adoption process.

Leading Researchers Have Identified the 2 Predictors of Technology Adoption

In “Perceived Usefulness, Perceived Ease of Use, and User Acceptance of Information Technology” Fred D. …

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Financial technology company FIS (NYSE: FIS) announced a new product, Core on Demand™that enables community financial institutions to launch a direct-to-consumer digital bank — sometimes called neo banks or challenger banks — in as little as 90 days. Core on Demand capabilities include online account opening, online & mobile banking, and payments.

FIS is positioning the new service as a way to help community banks compete against big banks and fintechs. From its April 2019 release:

With its new Core on Demand solution, FIS is addressing an important need of U.S. community banks to better compete with large institutions in…

Cary Tengel

Technology Adoption Research Institute

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