Archive for the ‘innovation’ Category

Technology Predictions for 2015

December 21, 2014

Technology has been moving rapidly and every year there is a different set that gets the highest priority. Last year, my bet was on these – some have gained while others have not been so successful.

This year, my pick is straight-forward

  1. Application Modernization – In the wake of Digital Transformation, organizations want to finally get away from legacy systems instead of wrapping them with calls and services. Application Modernization software will be in big demand.
  2. Master Data Management – MDM as it is known, will help organizations develop the Single Source of Customer that is missing in many of them. Though the first pass will not guarantee 100% clean data, at least the consolidation will help organizations start the journey.
  3. Data Monetization – Many organizations have tonnes of data with them without even realizing that they could make  use of it (and make money out of it). Data Analysts have been around for a while now and they will start getting much-promised dollars for their bosses.
  4. Web Analytics – Yes, it has been around for a while but in its new avatar, web analytics will start offering more advise to organizations on the customer behavior when they are on  their site. Customer will see better targeted marketing than ever before.
  5. Wearables or more broadly Internet of Things – My favorite for a while now, wearables are going to take the world by storm in 2015 with new use-cases that you would have never thought before. IoT is going to be omni-present and organizations will start making sense out of it. There will be product organizations who will provide end-to-end IoT support-as-a-service.

Thoughts from your side?

Before I forget, Merry Christmas and Happy New Year to you…

Bank branches redesigned

September 22, 2013

Branches of banks all around the world are getting a revamp based on the technology upgrades. The primary motive is to save costs while continuing to provide their customers with additional value-added features. After 40 years of branch building, Celent forecasts that the US will witness reduction of 30-40% in the number of branches over the next decade.

Though the new generation likes online features, there are security concerns among many customers as well. The elder generation has a massive bridge towards moving to online features (Banks have been trying to address this aspect proactively)

Let us look at how Banks are evolving their branches:

  • Bank of America spent 2012 remodeling and modernizing 2,000 of its American branches – new features include virtual ATMs, online click to call & online budgeting tools, rooms with video-conferencing capabilities, and more specialist staff members.
  • BNP Paribas has launched a new online bank ‘Hello Bank’ with heavy integration with social networks such as Facebook and Twitter. The online bank has a team working six days a week to answer queries via chat, email, tweet and voice phone.
  • Wells Fargo launched mini-branches earlier this year.
  • Ukraine’s PrivatBank has tied up with the new trend of Google Glasses
  • Metro Bank to launch drive-through branch – are Banks the new McDonalds?
  • Denmark’s JyskeBank branches have been developed to offer a destination for both customers and the community. ‘Sensory marketing’ allows the comforting aroma of coffee to pervade the atmosphere of branches, where the whole community – not just bank customers – are welcome to use the cafe and leisure facilities
  • In 2010 DBS launched ‘I Designed A Bank’ that invited young people to design their ideal branch. Based on the winning entries, the bank then opened couple of branches to cater to the Next Generation. This year, Barclays has launched a crowdsourcing micro-site called Your Bank, inviting customers to share ideas about how it can improve its service.
  • PNC Bank has opened its first pop-up branch in Atlanta, having consultants who will help customers with more complex transactions and show off mobile and online services.
  • Wells Fargo plans to open a series of technology-packed mini-branches in neighborhoods that cannot support full-sized outlets.

Banking Mobile Innovations

July 28, 2013

There are quite a few innovations in the global Banks on the mobile side of things. From the information released so far, US Bank seems to be in the fore-front of the mobile revolution.

Other recent examples include:

  • Bank of the West app lets users check balances with just the slide of a finger, without login. The new Android and iOS app also lets customers deposit cheques using their cameras, pay bills, monitor account activity, make fund transfers, and find ATMs and branches.
  • Dortmunder Volksbank introduces contactless mobile payments
  • Chase has added a feature to its Jot app that enables small business cardholders to capture and file receipts using their mobile phone cameras
  • ANZ claims one million goMoney app users are using its goMoney mobile-to-mobile payments app, transferring around A$2.5 billion a month.
  • US Bank announced it will soon begin offering voice control technology to users of its FlexPerks mobile app
  • Sovereign Bank – one-touch customer service mobile app
  • US Bank – Known as the Mobile Answers Portal and limited to a small handful of mobile users at present, the portal is a question-and-answer forum where users can post questions relating to the mobile experience and receive emailed responses
  • Spain’s Banco Sabadell has launched a service that enables customers to withdraw cash from ATMs using their mobile phones.
  • Lloyds has become the first UK bank to muscle in on the mobile point-of-sale market, inking a deal with Monitise to hawk the vendor’s card acceptance technology to small business customers.
  • First Trade Union Bank has released a mobile payment and loyalty app based on the LevelUp platform
  • After years of pilot trials and road tests, French bank Société Générale is set to launch its first national commercial application of NFC-based mobile payments
  • The Royal Bank of Canada (RBC) is preparing a mobile NFC payments service which will see sensitive user data stored in the cloud rather than the handset
  • US Bank is letting customers link their card accounts to the Square wallet application, enabling them to make purchases from their mobile phones.
  • Mobile banking self-service with virtual agents. Powered by software that allows customers to ask questions on their phone or tablet, virtual agents eliminate the need to use multiple devices or call the contact center.

Do you have any other similar experiences that you have witnessed?

Will tags in email help?

November 29, 2012

Let me share a news article that I just read about Hashtag Jameson! My post though is not about this new baby !

I was looking at my Twitter feed and noticing how the hashtag’s are helping us to filter messages that we are more interested in.

With the amount of mail one gets in our inboxes, maybe tagging emails is the next best way to identify and respond.

This will surely help all to ignore the ones that are not important and jump straight to what is essential and important.

Maybe Google can generate the tags automatically by looking at the content!

What do you think can help in reducing the email spam we receive?

GE and Indian Villages

May 6, 2012

GE has a wonderful opportunity to sell its engines in India. The current electricity problem in India (especially the rural areas) has been well documented.

GE’s Hybrid locomotive engine has been making great strides in bringing in efficiency as well as increasing the Green quotient.

The energy dissipated in braking a 207-ton locomotive over the course of a year is enough to power 160 households for that year. 

If only the Indian Railways start using these engines over their wide railway network across the country, the energy captured when the train stops in the smaller stations will increase the electricity supply provided to the rural areas.

When Air India can place procurement for more aircraft, why cannot the Indian Railways procure more engines?

This way, the Government can improve the electricity situation in the country without investing in power stations and the related infrastructure.

Surely, an idea that will benefit the Indian population.


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