It’s clear how Incumbent banks are met with unprecedented market forces. Fintech and neobanks—new financial players that offer more and more exciting financial products—are eating up banking market shares. Meanwhile, the growing use of alternative payments such as PayPal, Samsung Pay, Apple Pay, and so on points to the fact that customers are finding traditional banks inconvenient and untrustworthy. At the same time, people are walking away from physical branches; instead preferring mobile banking for ease and convenience, according to a recent report by Backbase. On top of that, the government continues to encourage Digital Banking, made apparent by the government’s recent directives. These factors may sound like twists and turns that took traditional banks by surprise, yet they point to the refusal to change and innovate in the face of digital disruption. Now that change becomes a matter of life and death for banks, there’s an evident need for a shift in mindset and principle called Design Thinking. This paper looks over the relevance and application of Design Thinking in the banking sector. You will also get to explore how some current banks are applying this method. The promise of Design Thinking for banks proves beyond doubt. Now let’s dive in.
This webinar presentation discusses digital transformation and how companies can adapt to changing consumer expectations and behaviors in the digital age. The presentation defines digital transformation as realigning technology and business models to engage customers at every touchpoint. It discusses how mapping customer journeys can reveal how consumer habits now outpace organizations. The presentation also addresses common inhibitors to change and recommends forming cross-functional digital teams with clear roles and direct executive support to drive transformation initiatives.
This document discusses the challenges of operating a digital bank in today's market environment. It notes that the digital market is hyperactive, with new services launching quickly and existing products/technologies easily copied. As a result, prices tend towards zero and users change habits frequently.
The document outlines qualities a digital bank should strive for, such as being safe, fast, stable, sustainable, and providing a valuable user experience. It emphasizes the importance of understanding individual user profiles to personalize services and transforming free users into paying customers.
Finally, the document proposes a roadmap for creating a fully digital bank through integrating FinTech solutions, social networks, and an agile development process focused on continuous innovation and improvement.
Why, When and How Do I Start a Digital Transformation?
The document discusses digital transformation and provides guidance on how to execute it. It emphasizes defining a clear digital ambition and envisioning how digital can provide new advantages for the business. It recommends assessing customer needs, known and unknown, and using these to develop projects and a roadmap. Finally, it outlines a framework for imagining, delivering, and scaling the digital transformation through iterative development and close monitoring of results.
Growing momentum for Disruption in FinTech:
Looking back and looking forward.
Recording of the Backbase webinar of December 18th, 2014.
In our 2014 closing webinar we will look back at the disruptive highlights of this year and we start looking forward to 2015.
From BBVA acquiring Simple, to more and more neo-banks popping up, fintech startups going IPO and omni-channel moving from marketing buzz to the real thing. In this 60 minute webinar, Backbase's Jouk Pleiter and Jelmer de Jong discuss the main trends and best practices for banks and credit unions to keep on disrupting in the digital banking space.
Digital banking is a multi-year journey that requires transforming how banks interact with customers in the digital age. It involves changes across five key areas: leadership, customer experience, information, operational model, and workforce. The transformation is driven by changes in customer behavior, technology innovation, and an increasingly competitive landscape that now includes technology companies and startups in addition to other banks. To succeed, banks must start with improving the customer experience and leverage new technologies to develop a deeper understanding of customers.
Our new perspective on achieving the full potential of human and artificial intelligence.
By Fjord, design and innovation from Accenture Interactive, and Accenture The Dock.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a collection of PowerPoint diagrams and templates used to convey 20 different digital transformation frameworks and models.
INCLUDED FRAMEWORKS/MODELS:
1. Ten Guiding Principles of Digital Transformation
2. The BCG Strategy Palette
3. Digital Value Chain Model
4. Four Levels of Digital Maturity
5. Customer Experience Matrix
6. Design Thinking Framework
7. Business Model Canvas
8. Customer Journey Map
9. OECD Digital Government Transformation Framework
10. Accenture's Nonstop Customer Experience Model
11. MIT's Digital Transformation Framework
12. McKinsey's Digital Transformation Framework
13. Capgemini's Digital Transformation Framework
14. DXC Technology's Digital Transformation Framework
15. Gartner's Digital Transformation Framework
16. Cognizant's Digital Transformation Framework
17. PwC's Digital Transformation Framework
18. Ionolgy's Digital Transformation Framework
19. Accenture's Digital Business Strategy Framework
20. Deloitte's Digital Industrial Transformation Framework
- The document discusses digital transformation and how companies can master digital disruption. It provides 7 steps for digital transformation: 1) focus on solving customer problems, 2) involve everyone in intrapreneurship, 3) disrupt your own business model, 4) make digital a core part of your organization, 5) rapidly ship products, 6) develop digital leadership capabilities, and 7) introduce agile technology platforms.
- It emphasizes the importance of moving fast, embracing change, thinking like a startup, and developing a "garage mindset" to foster innovation.
The document discusses digital banking and omni-channel banking. It covers topics like internet banking, mobile banking, the internet of things, customer experience, content creation, data analytics, predictive analytics, CRM systems, and ensuring consistency across channels. The key aspects are using customer data and insights to improve the customer experience across online, mobile, and physical channels to provide a seamless omni-channel banking experience.
This webinar presentation discusses digital transformation and how companies can adapt to changing consumer expectations and behaviors in the digital age. The presentation defines digital transformation as realigning technology and business models to engage customers at every touchpoint. It discusses how mapping customer journeys can reveal how consumer habits now outpace organizations. The presentation also addresses common inhibitors to change and recommends forming cross-functional digital teams with clear roles and direct executive support to drive transformation initiatives.
This document discusses the challenges of operating a digital bank in today's market environment. It notes that the digital market is hyperactive, with new services launching quickly and existing products/technologies easily copied. As a result, prices tend towards zero and users change habits frequently.
The document outlines qualities a digital bank should strive for, such as being safe, fast, stable, sustainable, and providing a valuable user experience. It emphasizes the importance of understanding individual user profiles to personalize services and transforming free users into paying customers.
Finally, the document proposes a roadmap for creating a fully digital bank through integrating FinTech solutions, social networks, and an agile development process focused on continuous innovation and improvement.
Why, When and How Do I Start a Digital Transformation?Acquia
The document discusses digital transformation and provides guidance on how to execute it. It emphasizes defining a clear digital ambition and envisioning how digital can provide new advantages for the business. It recommends assessing customer needs, known and unknown, and using these to develop projects and a roadmap. Finally, it outlines a framework for imagining, delivering, and scaling the digital transformation through iterative development and close monitoring of results.
Growing momentum for Disruption in FinTech:
Looking back and looking forward.
Recording of the Backbase webinar of December 18th, 2014.
In our 2014 closing webinar we will look back at the disruptive highlights of this year and we start looking forward to 2015.
From BBVA acquiring Simple, to more and more neo-banks popping up, fintech startups going IPO and omni-channel moving from marketing buzz to the real thing. In this 60 minute webinar, Backbase's Jouk Pleiter and Jelmer de Jong discuss the main trends and best practices for banks and credit unions to keep on disrupting in the digital banking space.
Digital banking is a multi-year journey that requires transforming how banks interact with customers in the digital age. It involves changes across five key areas: leadership, customer experience, information, operational model, and workforce. The transformation is driven by changes in customer behavior, technology innovation, and an increasingly competitive landscape that now includes technology companies and startups in addition to other banks. To succeed, banks must start with improving the customer experience and leverage new technologies to develop a deeper understanding of customers.
Our new perspective on achieving the full potential of human and artificial intelligence.
By Fjord, design and innovation from Accenture Interactive, and Accenture The Dock.
This Backbase webinar will demonstrate how banks can innovate and become digital-first by adopting a more startup-like approach, where failure isn’t frowned upon but embraced. This approach acts as a catalyst for banks, so that they can better meet future challenges and client demands.
Watch the full webinar here: https://www.youtube.com/watch?v=XlYy0cskPTU
The document outlines best practices for digital transformation based on a presentation by Arrk Group. It discusses the importance of digital transformation for businesses and the need for clear leadership and vision. It also emphasizes building a digital-first culture, digitizing customer experiences, creating a unified digital platform, focusing on agile execution, and learning from digital examples in areas like instant loans and stock updates.
Fintech and Transformation of the Financial Services IndustryRobin Teigland
The document provides an agenda for a January 2016 event on financing innovation and FinTech industry transformation. The morning session focuses on financing startups, including lectures and group work. The afternoon session discusses FinTech and industry disruption, with lectures from digital economy experts and a discussion on disruptors versus industry incumbents. Guidelines are provided for a group presentation on funding a startup. The document also includes background information on industry transformation drivers, trajectories of change, and the impact of digital technologies on banking.
Learn how financial institutions are betting on the Big Data and Artificial Intelligence through APIs that help banks to define products, segmenting customers and detect possible fraud. Throughout this ebook we offer a review of the APIs bank data aggregation. More information in http://bbva.info/2t1NEv7
Deliver New Customer Experiences Through AI-enabled ChatbotsAmazon Web Services
Chatbots allow companies to mimic human conversations with their customers. Built upon artificial intelligence (AI) and machine learning (ML), they provide instantly available support that is adaptive to user needs and improves with use over time.
Learn how organizations are leveraging this new technology to improve customer engagement by better tailoring their marketing efforts, while at the same time reducing costs and overhead.
Deloitte Digital will showcase their conversational chatbot solution built on Amazon Web Services (AWS) and utilizing Amazon Lex. Discover how companies can rapidly build a proof of concept prior to integrating, launching, and rapidly scaling them to the market.
Banks can leverage machine learning models to increase value through stronger customer acquisition, higher customer lifetime value, and lower operating costs. AI-powered decision making allows for personalized experiences, continuous customer engagement, automated document processing, and early risk detection. Advanced analytical models can be organized around significant elements like the customer lifecycle to benefit banks.
Banks are facing pressure from low interest rates and competition which is reducing profits, so they must leverage big data and mobile capabilities to provide new digital services to customers, gain insights from customer behavior, and target them with personalized offers in order to differentiate themselves, improve the customer experience, and generate additional revenue streams.
Digital transformation is about implementing new technologies in organizations, but many businesses forget that successful transformation is primarily about people. To transform digitally, a business needs a strong leader to guide change, must invest in digital experts to implement new technologies correctly, and should work closely with transformation experts to overcome challenges and take advantage of opportunities that technology provides across many industries.
Digital Business Transformation | Strategy + Executionfeature[23]
The document discusses how businesses need to transform into digital leaders to survive in today's digital world. It notes that 75% of businesses will be digital businesses or preparing to become one by 2020. Only 30% of companies attempting to go digital will succeed. The document provides advice on how businesses can overcome obstacles like traditional IT, sourcing, and literacy to transform their business models, customer experiences and operations through approaches like digital maturity assessments, accelerating speed to market, and gaining cost and quality transparency in technology investments. The goal is to help businesses reimagine themselves and adapt continuously to thrive in the digital age.
The essential elements of a digital transformation strategyMarcel Santilli
This document discusses how digital transformation is inevitable for enterprises due to ongoing digital disruption. It defines digital transformation as using digital technologies to improve customer experience, products/services, and business operations. The document outlines three approaches to digital transformation: IT transformation, business operations transformation, and business model transformation. It recommends that enterprises focus on business operations transformation by recognizing disruption, focusing on customers, rethinking their business, and not waiting too long to transform.
Going Digital: What Banking Leaders Need to KnowCognizant
Banks need to embrace digital transformation by putting customers first, using data to gain insights, and managing organizational change. To succeed, banks must put customer data at the heart of interactions, evolve a customer-focused culture, and oversee new processes and structures that support digital initiatives and change. This will allow banks to regain customer trust and relevance in the digital era.
KPIs Digital Bank.pdf KPIs Digital Bank.pdf KPIs Digital Bank.pdfAlemayhuTefire1
(1) The document provides an overview of key performance indicators (KPIs) for digital banks.
(2) It begins with an executive summary and then discusses the top 9 essential KPIs for digital banks, including launch and load times, straight through processing rate, feature adoption depth, and average time to first transaction.
(3) The document also explores what differentiates digital banks from traditional banks and provides examples of different types of digital banks like neo banks, challenger banks, and marketplace banks.
Digital Engineering: Top Three Imperatives for Banks and Financial Services C...Cognizant
Banking and financial services organizations need a blueprint for building modern digital capabilities, reducing technical debt and accelerating cost-cutting via the cloud. Here are some practical strategies for doing that, and examples of organizations achieving success.
Digitization is challenging traditional banking but also presents opportunities. Banks will need to embrace new technologies while maintaining core operations. Branch locations will remain important but become less so over time. Banks can personalize customer experiences through digital capabilities. Embracing digital requires clear collaboration across functions, making it a CEO priority. While legacy systems are a challenge, progressive banks are investing in new technologies and capabilities. Digital may allow lowering of efficiency ratios through automation.
This document discusses how traditional banks are facing competition from digital banks and fintech companies. It argues that banks need to transform by (1) improving digital engagement with customers to better understand them, (2) participating in ecosystems with other digital partners to provide and consume new services, and (3) applying technologies like cloud, analytics, and cognitive computing to improve efficiency and security. The document provides examples of how banks can remain relevant to customers and be present in their lives through hyper-personalized marketing and content.
Being Digital Means Being More Human
The document discusses how companies can succeed in the digital economy by putting people first and focusing on understanding customer needs, then using technology to fulfill those needs. It argues that companies should start with a clear vision focused on the customer experience rather than focusing primarily on technology. To truly transform digitally, companies need to ensure both a strong customer understanding and the implementation of technological solutions, with collaboration between human-centered and technology teams.
Building a truly digital banking model remains a challenge for most domestic banks. While it’s true that there is no such thing as a sure recipe for success, some key ingredients are essential to a successful digitized bank. They are the SIX imperatives of digital banking that we will discuss in this whitepaper.
Banks need to transform their business models to integrate digital and physical channels in order to meet evolving customer expectations. This involves three key areas: 1) Discovering new customer segments with differentiated experiences that leverage both digital and physical touchpoints. 2) Optimizing omnichannel strategies to provide consistency across all channels. 3) Rethinking the branch network to create lighter formats while expanding specialist roles and digital technologies for a seamless experience. Successful banks will fuse digital and physical assets to make customers' lives more convenient and engaging.
This paper looks beyond the mechanics of conventional web design to identify the differentiating factors for a good mobile offering. Specifically, this paper concentrates on mobile experience through smartphones and tablets, including bespoke apps and mobile browsing.
Digital technologies are transforming the banking industry and how customers interact with their banks. Banks are moving from purely transactional models to focus on building trusted partnerships with customers through advanced analytics, personalized services, and real-time interactions. Digital customers now expect convenient, intuitive experiences across all their devices. The document discusses a case study of a bank called Epsilon that aims to improve its digital customer experience. It outlines Epsilon's research methodology including analyzing customer, business, and system needs to create prototype designs for validation and feedback.
The 2015 Digital Consumer Collaborative CharterDave Norton
Stone Mantel will lead the 2015 Digital Consumer Collaborative. Our goal is determine where content, context, and influence will go in the next three years. Join us as up to 15 companies collaborate together to go deep into the digital consumer's life and innovate for the future.
What are the big trends in mobility that will impact you and your business in 2017? What are the things you need to know and the actions you need to take to be successful?
The 2017 mobility trends report by DMI provides insights, research and recommendations on the trends that will impact consumers and organizations and reinvent business. Each trend includes real-life examples.
The presentation this year covers the following areas:
* Customer Experience including innovation, methodologies, multi-channel and IoT
* Big and small data including solving real problems and faster analytics
* Devices including the latest on smartphones, AR/VR and wearables
* Other technologies including winners in the cloud, native-hybrid and progressive web apps and DevOps
* The next big things…
Big data made simple ppp five experts talkkwpillich
This document summarizes interviews with five banking experts on the topics of big data and analytics in banking.
The first interview is with JP Nicols, co-founder of Bank Innovators Council. Some key points from the interview include: if consumers engage directly with fintech companies instead of banks, then banks become a commodity; banks think they are customer-intimate but are actually all competing on the same dimension; and the future will see fewer banks, with successful banks upgrading themselves or risking failure.
The second interview is with Vik Atal, former executive vice president of Citigroup. He discusses lessons from the 2008 financial crisis, including that predictive analytics could have reduced some impacts. For banks, using
The document provides an overview of Design Thinking and how it can be applied in an Agile/Lean environment. It discusses how Design Thinking focuses on understanding user needs and solving problems through a continuous cycle of observing users, reflecting on insights, and making prototypes to derive new ideas. The document outlines how managers can focus on user outcomes and how team members can build empathy with users. It emphasizes that making prototypes early allows teams to validate ideas quickly and that reflecting regularly helps teams stay aligned on their goals of solving user problems.
Boost a Fintech Startup's Success Through UX DesignFibonalabs
Fintech is a word formed from “finance” and “technology”. It refers to the usage of technology to enhance and automate financial services. Examples of fintech services in our daily life would include credit card payments, UPI payments, online investment platforms, net banking, personal finance management, etc. A fintech application helps companies to merge their businesses and transactions with ease while scaling up and down. It removes the need for middlemen in financial processes and puts the power directly in the user’s hands.
This document provides an overview of the changing banking environment and opportunities for new digital services and products. Key points include:
- The banking industry is being disrupted by digital competitors that offer more seamless, mobile-first experiences for customers.
- Technology is changing customer expectations around fast, cashless, and on-demand banking services that can be accessed anywhere.
- The document outlines several potential new digital banking products and services like mobility banking, service bots, experience banking apps, and tools to help different generations.
- It argues that banks need to shift their focus from products to customer experience, change business models, use algorithms, and try new apps to better connect with customers in this changing environment.
Conversational AI automation in the banking and financial sector has enabled banks to have customer experience, engagement along with improving contact center management, operational efficiency as well as upselling and cross-selling opportunities.
Role of e commerce applications in business growth by amritpal singh - jul,...FugenX
This document discusses the role of e-commerce applications in business growth. It begins by defining e-commerce applications as software, either web or mobile, that allows online buying and selling. It then describes the types of e-commerce like B2B, B2C, C2C, and C2B. Next, it lists reasons why businesses need e-commerce apps like increased mobility, personalized marketing, and fast payments. It concludes by stating that e-commerce apps help businesses attract more customers, increase revenue, and gain market share.
Similar to Design Thinking for Digital Banking (20)
Reading this paper will give you a better idea of how technology has so far transformed the business landscape, what you need to do with your own digital transformation, and what to look for in 2020.
The intricacies of TPBank’s system have posed a significant challenge for the testing team to conduct comprehensive quality checks. To solve the problems, the bank engaged with KMS Solutions, a premier technology consulting and service provider with proven software testing expertise in BFSI - for a personalised strategy to automate the testing process and enhance the team’s expertise.
In today's fast-paced digital world, with the increasing reliance on software in nearly every aspect of our lives, the demand for high-quality digital solutions adapting to changing needs of users and stakeholders has never been greater.
Brands are in the race to accelerate their development process and differentiate themselves by providing advanced customer experiences. Modern software engineering emphasizes the use of Agile methodologies, DevOps practices, and continuous integration and delivery pipeline to streamline the software development process and deliver a product that meets the specified requirements and quality goals.
Due to the high development velocity and high complexity of its newfound project, GIC Real Estate Analytics project was searching for a competent partner with proven capabilities in Test Automation.
Subscribe to insightful whitepapers at: https://kms-solutions.asia
With the advanced technologies such as biometrics verification and cryptographic keys, IT around the world is moving towards passwordless authentication for its apps.
Subscribe for more insightful report at: https://kms-solutions.asia/
There are three levels of requirements in the Scaled Agile Framework: Team, Program, and Portfolio. The Team level focuses on organizing around requirements through user stories and balancing the backlog. The Program level defines a single objective through a vision document and features. Non-functional requirements serve as constraints across backlogs. The Portfolio level indicates initiatives that drive investment through investment themes and epics, which require an MVP definition and approval before execution.
In today’s digital era where businesses hurry to build new digital products, Software Testing becomes an integral part of that endeavor. Applying software testing properly and with the right tools, Software Testing can speed up the entire Software Development Life Cycle (SDLC) and thus accelerate Digital Transformation efforts. As an indispensable part of SDLC, the Software Testing Life Cycle (STLC) provides a step-by-step roadmap for the entire testing process. The STLC will be the central theme of this paper, which gives an overview of STLC, its key phases and activities involved in each phase, as well as the common principles of STLC.
To appeal to its customers who are increasingly digital-savvy, Asia Commercial Bank (ACB) wants to prioritize its mobile-first strategy. The first step is to build mobile banking applications that center on customer experience.
A core banking system (CBS) is a central system dedicated to the processing of banks’ transactions. It also handles accounts, securities, payments of loans, and so on. A Core Banking Transformation, in turn, is the process of replacing, upgrading, or outsourcing this core system. As CBS is the very heart of a bank, transforming it has a high chance of disrupting day-to-day operations. In the face of such costly disruptions, software testing can act as a reliable safeguard. This paper offers the strategies that QA teams can adopt to mitigate the risk and thus ensure the success of this radical transformation.
More and more customers are seeing mobile as their banking channel of choice, proven by a growing body of papers. To cite some, Cimigo revealed that for every 10 respondents who are Vietnamese consumers, 3 are using some forms of e-payments including mobile banking application and e-Wallet. Or Backbase predicted that mobile transactions in Vietnam will increase by 300% between 2021 and 2025, driven by mobile payments. As banks build more creative features and integrate with third-party financial products, mobile banking application is no longer a tool for remote money transaction; it has become a financial lifestyle platform that offers a single hub for all banking services. In this article, we get to explore various innovative features that a bank might consider for its mobile banking application, with the goal to keep up with the Digital Banking upsurge.
An Ultimate Guide to Continuous Testing in Agile Projects.pdfKMSSolutionsMarketin
As more businesses apply Continuous Integration and Continuous Delivery (CI/CD) to release their software faster, Continuous testing becomes the final piece that completes a continuous development process. By automatically testing code right after developers submit it to the repository, testers can locate bugs before another line of code is written.
Digital technologies have deconstructed market structures that were once firmly established. Not only did they introduce new types of business models, but they also crippled the old ones - as is evidenced by several cases, such as those of Apple and Nokia, or Uber and traditional taxi businesses.
Today, every business faces the following 2 challenges, which digital technologies can help to tackle:
1. Bringing down costs to compete. Technologies have progressed fast: Cloud computing replaced proprietary data centers, and pocket mobile devices are now favored over cumbersome desktops. With the right technologies in place, businesses can scale up and perform more efficiently, ultimately cutting operational costs.
2. Building digital platforms to adapt to the changing competitive landscape. Customers and employees are the 2 drivers of changes: their demands have changed, which requires businesses to change accordingly to adapt. For example, customers expect intuitive online shopping experience, while employees ask for productive and engaging workplace experience. Businesses can meet these demands only if they leverage digital platforms.
This paper will examine the changing face of technologies, learn how digital platforms have inspired digital transformation, and discuss the architecture of a digital platform.
A digital strategy provides a roadmap for digital transformation by outlining investments in talents, processes, and customers to maximize competitive advantage. It specifies visions, actions, and tactics for becoming a digital business. Formulating a digital strategy involves three stages: defining value by gaining commitment, defining goals and investments; launching initiatives with light projects and assembling a digital team; and scaling up through organizing further initiatives, building capabilities, and adopting new operating models. A digital strategy guides a company's transformation through technology adoption and cultural shifts.
For a decade, SCORM (Sharable Content Object Reference Model) has been an industry standard for computer-based learning and online education. It's been a universal language between computer systems, which is typically referred to as the Learning Management System (LMS). The SCORM standard enables all eLearning content and LMSs to work with each other. Also, it lets content authors distribute their content to a variety of LMSs. But over time, SCORM reached its limit. It’s true that SCORM can work okay as long as the learners sit in front of a computer and take a ready-made course. Yet in today's world, learning has grown beyond the computers. Learners have different ways to learn such as watching a video, reading content on websites, writing an article, searching through the knowledge base, posting a thread and discussing it on a forum, building personal projects, and so on. Learning can happen anytime and anywhere—via learners’ phones and tablets, via Youtube, Linkedin, or any potential technologies that may emerge along their learning paths in the future. This paper discusses the evolution of eLearning standards and explores the future trends of the learning ecosystem.
eKYC solution is one of the core pillars of the Digital Banking model.
Now when most banks are relying on mobile apps to interact with
customers, an end-to-end eKYC solution is the more relevant venue to onboard customers than manual processing that is traditionally conducted at bank offices. Recent findings by J.D. Power study revealed that 31% of new account openings are done on a mobile banking app or bank’s websites, an increase of 22% compared to 2019. But in reality, banks seem not to do so well with eKYC since according to Signicat, 40% of customers surveyed have abandoned their online applications halfway. The reason is straightforward: a majority of banks find their eKYC Solutions unsuitable.
With a multitude of providers out there, each talks big about how
comprehensive their eKYC solution is, it can be hard to tell the good from the bad one.
This article will walk you through a number of key considerations when evaluating vendors for your eKYC solution. You will also find some tactics to question your bidders.
While traditional banks contend with inflexible legacy IT systems, the transformational ones deploy Agile methods to significantly reduce their time to value and make the organization more flexible as a whole.
Transformation is difficult and digital transformation is even harder.
Scaling Connections in PostgreSQL Postgres Bangalore(PGBLR) Meetup-2 - MydbopsMydbops
This presentation, delivered at the Postgres Bangalore (PGBLR) Meetup-2 on June 29th, 2024, dives deep into connection pooling for PostgreSQL databases. Aakash M, a PostgreSQL Tech Lead at Mydbops, explores the challenges of managing numerous connections and explains how connection pooling optimizes performance and resource utilization.
Key Takeaways:
* Understand why connection pooling is essential for high-traffic applications
* Explore various connection poolers available for PostgreSQL, including pgbouncer
* Learn the configuration options and functionalities of pgbouncer
* Discover best practices for monitoring and troubleshooting connection pooling setups
* Gain insights into real-world use cases and considerations for production environments
This presentation is ideal for:
* Database administrators (DBAs)
* Developers working with PostgreSQL
* DevOps engineers
* Anyone interested in optimizing PostgreSQL performance
Contact info@mydbops.com for PostgreSQL Managed, Consulting and Remote DBA Services
The DealBook is our annual overview of the Ukrainian tech investment industry. This edition comprehensively covers the full year 2023 and the first deals of 2024.
Quality Patents: Patents That Stand the Test of TimeAurora Consulting
Is your patent a vanity piece of paper for your office wall? Or is it a reliable, defendable, assertable, property right? The difference is often quality.
Is your patent simply a transactional cost and a large pile of legal bills for your startup? Or is it a leverageable asset worthy of attracting precious investment dollars, worth its cost in multiples of valuation? The difference is often quality.
Is your patent application only good enough to get through the examination process? Or has it been crafted to stand the tests of time and varied audiences if you later need to assert that document against an infringer, find yourself litigating with it in an Article 3 Court at the hands of a judge and jury, God forbid, end up having to defend its validity at the PTAB, or even needing to use it to block pirated imports at the International Trade Commission? The difference is often quality.
Quality will be our focus for a good chunk of the remainder of this season. What goes into a quality patent, and where possible, how do you get it without breaking the bank?
** Episode Overview **
In this first episode of our quality series, Kristen Hansen and the panel discuss:
⦿ What do we mean when we say patent quality?
⦿ Why is patent quality important?
⦿ How to balance quality and budget
⦿ The importance of searching, continuations, and draftsperson domain expertise
⦿ Very practical tips, tricks, examples, and Kristen’s Musts for drafting quality applications
https://www.aurorapatents.com/patently-strategic-podcast.html
How RPA Help in the Transportation and Logistics Industry.pptxSynapseIndia
Revolutionize your transportation processes with our cutting-edge RPA software. Automate repetitive tasks, reduce costs, and enhance efficiency in the logistics sector with our advanced solutions.
UiPath Community Day Kraków: Devs4Devs ConferenceUiPathCommunity
We are honored to launch and host this event for our UiPath Polish Community, with the help of our partners - Proservartner!
We certainly hope we have managed to spike your interest in the subjects to be presented and the incredible networking opportunities at hand, too!
Check out our proposed agenda below 👇👇
08:30 ☕ Welcome coffee (30')
09:00 Opening note/ Intro to UiPath Community (10')
Cristina Vidu, Global Manager, Marketing Community @UiPath
Dawid Kot, Digital Transformation Lead @Proservartner
09:10 Cloud migration - Proservartner & DOVISTA case study (30')
Marcin Drozdowski, Automation CoE Manager @DOVISTA
Pawel Kamiński, RPA developer @DOVISTA
Mikolaj Zielinski, UiPath MVP, Senior Solutions Engineer @Proservartner
09:40 From bottlenecks to breakthroughs: Citizen Development in action (25')
Pawel Poplawski, Director, Improvement and Automation @McCormick & Company
Michał Cieślak, Senior Manager, Automation Programs @McCormick & Company
10:05 Next-level bots: API integration in UiPath Studio (30')
Mikolaj Zielinski, UiPath MVP, Senior Solutions Engineer @Proservartner
10:35 ☕ Coffee Break (15')
10:50 Document Understanding with my RPA Companion (45')
Ewa Gruszka, Enterprise Sales Specialist, AI & ML @UiPath
11:35 Power up your Robots: GenAI and GPT in REFramework (45')
Krzysztof Karaszewski, Global RPA Product Manager
12:20 🍕 Lunch Break (1hr)
13:20 From Concept to Quality: UiPath Test Suite for AI-powered Knowledge Bots (30')
Kamil Miśko, UiPath MVP, Senior RPA Developer @Zurich Insurance
13:50 Communications Mining - focus on AI capabilities (30')
Thomasz Wierzbicki, Business Analyst @Office Samurai
14:20 Polish MVP panel: Insights on MVP award achievements and career profiling
YOUR RELIABLE WEB DESIGN & DEVELOPMENT TEAM — FOR LASTING SUCCESS
WPRiders is a web development company specialized in WordPress and WooCommerce websites and plugins for customers around the world. The company is headquartered in Bucharest, Romania, but our team members are located all over the world. Our customers are primarily from the US and Western Europe, but we have clients from Australia, Canada and other areas as well.
Some facts about WPRiders and why we are one of the best firms around:
More than 700 five-star reviews! You can check them here.
1500 WordPress projects delivered.
We respond 80% faster than other firms! Data provided by Freshdesk.
We’ve been in business since 2015.
We are located in 7 countries and have 22 team members.
With so many projects delivered, our team knows what works and what doesn’t when it comes to WordPress and WooCommerce.
Our team members are:
- highly experienced developers (employees & contractors with 5 -10+ years of experience),
- great designers with an eye for UX/UI with 10+ years of experience
- project managers with development background who speak both tech and non-tech
- QA specialists
- Conversion Rate Optimisation - CRO experts
They are all working together to provide you with the best possible service. We are passionate about WordPress, and we love creating custom solutions that help our clients achieve their goals.
At WPRiders, we are committed to building long-term relationships with our clients. We believe in accountability, in doing the right thing, as well as in transparency and open communication. You can read more about WPRiders on the About us page.
An invited talk given by Mark Billinghurst on Research Directions for Cross Reality Interfaces. This was given on July 2nd 2024 as part of the 2024 Summer School on Cross Reality in Hagenberg, Austria (July 1st - 7th)
BT & Neo4j: Knowledge Graphs for Critical Enterprise Systems.pptx.pdfNeo4j
Presented at Gartner Data & Analytics, London Maty 2024. BT Group has used the Neo4j Graph Database to enable impressive digital transformation programs over the last 6 years. By re-imagining their operational support systems to adopt self-serve and data lead principles they have substantially reduced the number of applications and complexity of their operations. The result has been a substantial reduction in risk and costs while improving time to value, innovation, and process automation. Join this session to hear their story, the lessons they learned along the way and how their future innovation plans include the exploration of uses of EKG + Generative AI.
論文紹介:A Systematic Survey of Prompt Engineering on Vision-Language Foundation ...Toru Tamaki
Jindong Gu, Zhen Han, Shuo Chen, Ahmad Beirami, Bailan He, Gengyuan Zhang, Ruotong Liao, Yao Qin, Volker Tresp, Philip Torr "A Systematic Survey of Prompt Engineering on Vision-Language Foundation Models" arXiv2023
https://arxiv.org/abs/2307.12980
7 Most Powerful Solar Storms in the History of Earth.pdfEnterprise Wired
Solar Storms (Geo Magnetic Storms) are the motion of accelerated charged particles in the solar environment with high velocities due to the coronal mass ejection (CME).
The Rise of Supernetwork Data Intensive ComputingLarry Smarr
Invited Remote Lecture to SC21
The International Conference for High Performance Computing, Networking, Storage, and Analysis
St. Louis, Missouri
November 18, 2021
Understanding Insider Security Threats: Types, Examples, Effects, and Mitigat...Bert Blevins
Today’s digitally connected world presents a wide range of security challenges for enterprises. Insider security threats are particularly noteworthy because they have the potential to cause significant harm. Unlike external threats, insider risks originate from within the company, making them more subtle and challenging to identify. This blog aims to provide a comprehensive understanding of insider security threats, including their types, examples, effects, and mitigation techniques.
Implementations of Fused Deposition Modeling in real worldEmerging Tech
The presentation showcases the diverse real-world applications of Fused Deposition Modeling (FDM) across multiple industries:
1. **Manufacturing**: FDM is utilized in manufacturing for rapid prototyping, creating custom tools and fixtures, and producing functional end-use parts. Companies leverage its cost-effectiveness and flexibility to streamline production processes.
2. **Medical**: In the medical field, FDM is used to create patient-specific anatomical models, surgical guides, and prosthetics. Its ability to produce precise and biocompatible parts supports advancements in personalized healthcare solutions.
3. **Education**: FDM plays a crucial role in education by enabling students to learn about design and engineering through hands-on 3D printing projects. It promotes innovation and practical skill development in STEM disciplines.
4. **Science**: Researchers use FDM to prototype equipment for scientific experiments, build custom laboratory tools, and create models for visualization and testing purposes. It facilitates rapid iteration and customization in scientific endeavors.
5. **Automotive**: Automotive manufacturers employ FDM for prototyping vehicle components, tooling for assembly lines, and customized parts. It speeds up the design validation process and enhances efficiency in automotive engineering.
6. **Consumer Electronics**: FDM is utilized in consumer electronics for designing and prototyping product enclosures, casings, and internal components. It enables rapid iteration and customization to meet evolving consumer demands.
7. **Robotics**: Robotics engineers leverage FDM to prototype robot parts, create lightweight and durable components, and customize robot designs for specific applications. It supports innovation and optimization in robotic systems.
8. **Aerospace**: In aerospace, FDM is used to manufacture lightweight parts, complex geometries, and prototypes of aircraft components. It contributes to cost reduction, faster production cycles, and weight savings in aerospace engineering.
9. **Architecture**: Architects utilize FDM for creating detailed architectural models, prototypes of building components, and intricate designs. It aids in visualizing concepts, testing structural integrity, and communicating design ideas effectively.
Each industry example demonstrates how FDM enhances innovation, accelerates product development, and addresses specific challenges through advanced manufacturing capabilities.
2. It’s clear how Incumbent banks are met with unprecedented market forces.
Fintech and neobanks—new financial players that offer more and more exciting
financial products—are eating up banking market shares. Meanwhile, the
growing use of alternative payments such as PayPal, Samsung Pay, Apple Pay,
and so on points to the fact that customers are finding traditional banks
inconvenient and untrustworthy. At the same time, people are walking away
from physical branches; instead preferring mobile banking for ease and
convenience, according to a recent report by Backbase. On top of that, the
government continues to encourage Digital Banking, made apparent by the
government’s recent directives.
These factors may sound like twists and turns that took traditional banks by
surprise, yet they point to the refusal to change and innovate in the face of
digital disruption.
Now that change becomes a matter of life and death for banks, there’s an
evident need for a shift in mindset and principle called Design Thinking. This
paper looks over the relevance and application of Design Thinking in the
banking sector. You will also get to explore how some current banks are applying
this method. The promise of Design Thinking for banks proves beyond doubt.
Now let’s dive in.
If Digital Banking is a journey, Design Thinking is the compass.
01
3. Even now, there’s no standard
definition for Design Thinking as it’s a
relatively new phenomenon. But
Design Thinking can confuse people by
its mere look: one can be mistaken that
it is all about UX/UI - a principle
employed by such creative people as
graphic designers. True, an app’s
intuitive interface or service’s seamless
experience might be the products
every business strives for. But Design
Thinking offers more potential than
that. As Steve Jobs put it: “Design is not
just what it looks like and feels like.
Design is how it works”, hence the
beautifully designed and intuitively
functional iPhone that a billion love.
Tim Brown, the chair of IDEO and an
advocate of Design Thinking, refers to
it as a methodology that activates all
innovation-related activities with
human-centric design principles.
In the business context, Design
Thinking can be thought of as a
principle for creating commercial
innovations and ideas that revolve
around humans’ underlying needs. It’s a
combination of Analytical and Intuitive
mindsets to create a product that’s
both reliable by business and valid by
customers.
Design Thinking helps to understand
customers, challenge the status quo,
and frame problems in a way that
generates breakthrough solutions that
have never existed before. It gives you a
lens to explore people’ hidden needs,
establish empathy with them, and
develop products that bring you happy
customers.
ANALYTICAL
THINKING
INTUITIVE
THINKING
Design Thinking is a combination of both Analytical
and Intuitive mindsets
THE CONCEPT OF
DESIGN THINKING
DESIGN
THINKING
02
4. THE PROCESS OF
DESIGN THINKING
STEP 1 - EMPATHIZE: First and
foremost, you seek to understand what
interests and bothers your customers.
Through different techniques, you get in
their shoes and empathize with them.
“Day in the Life of” (DILO), a tool that
helps to recreate a certain experience of
customers during a specific activity, is
very useful in placing customers at the
center of the design process. For
example, to empathize with customers
during the lending process, you apply
DILO to simulate the entire lending
process from the perspective of your
customers.
STEP 2 - DEFINE: By ways of in-depth
analysis, you can now understand the
actual needs that people are trying to
fulfill when participating in certain
activities. One way to do that is to
underline the verbs or activities that
people mentioned when talking about
their problems: like looking for a simpler
and less time-consuming lending process,
preferring such options when lending, or
preferring not to visit physical branches.
STEP 3 - IDEATE: Now that you have
understood customers’ needs and
identified their problems, it’s time to
come up with ideas for solutions. The
point is not to get a perfect idea, but to
come up with as many ideas as possible.
After not being able to brainstorm any
more idea, you choose some that work
the best. For example, an application for
mobile banking should be:
• Simple: the app can be accessed
anytime and anywhere. The application
must have as few steps as possible (three,
for example) to reduce complexity and
increase convenience for users, which
means a complete redesign to the
process.
• Frictionless: once the app has asked
users for a piece of data, it must not ask
again. This model requires banks to build
a database for available data.
• Rapid: the app must be designed in a
way that prospects can be converted as
rapidly as possible, without much
thinking.
STEP 4 - PROTOTYPE: now you are ready
to develop the first prototype of the
product or service, and test it with a
group of users. Based on the feedback,
you conduct continuous iterations to
refine the product or service.
STEP 5 - TEST: Now test your ideas with
real users for their thoughts. Don’t
defend your idea in case people don’t like
it, the point is to learn what works and
what doesn't, so any feedback is great.
Then go back to ideation or prototyping,
and apply your learning. Repeat the
process until you have a prototype that
works and solves the real problem.
03
Empathize
1
2
3 4
5
Define
Ideate
Prototype
Test
The iterative 5-step Design Thinking process
5. THE SHIFT TO CUSTOMER FOCUS
Customer’s trust in the banking sector
is eroding. “Unsafe”, “greedy”,
“untrustworthy”, and “putting profit
before people” are used to describe
banks, according to the survey Public
Trust in Banking. Another study by
Economic and Business Review
associated this negative perception with
the lack of empathy and customer focus.
It’s evident that modern customers
expect banks to be trustful, empathetic,
and engaging. Quite the contrary to
traditional banks, new financial players
such as fintechs succeed as they focus
on understanding customers and design
offerings that are relevant. Therefore,
banks need a mechanism to make
customers open and honest about what
they need, in turn creating products and
services that make up for the lost trust.
DIGITAL REVOLUTION
Progresses in mobile and digital
technologies have paved the way for
new financial innovations. Many
countries such as Vietnam have been
encouraging a cashless society. In
response, banks and financial services
are increasingly accepting and applying
radio frequency identification, near field
communication, and Quick Response
(QR). While they raced to roll out
eWallets applications, non-banking
giants have also introduced their
payment services such as Google Pay,
Apple Pay, or Samsung Pay. These
trends indicate that banking and
financial services providers are shifting
from the traditional brick-and-mortar
branch system to the digital
environment.
CUSTOMER EXPECTATIONS
The more digital banking services
become, the higher customers expect.
EY predicted that customer
expectations will continue to soar as
banking and non-banking businesses
alike continue to apply high
technologies such as artificial
intelligence (AI), Machine Learning
(ML), real-time transaction,... As a result,
customers will ask for more in terms of
user-friendliness and convenience.
The other factor worth considering is
the demographic. Millennials and the
so-called digital natives are largely
driving financial services providers to
rethink their strategies and focus more
on innovative applications and
customer-centric design. This new
generation of customers also places
more trust in Fintech businesses than
traditional banks, shown in a study
named The Business Models and
Economics of Peer-to-Peer Lending.
CHANGING MARKET STRUCTURE
The banking market has forever
changed, due to rapid Digital
Transformation and changing customer
preferences, according to the study
Digital banking and market disruption: a
sense of deja vu? by Financial Stability
Review. As a matter of course, digital
disruptors such as fintech businesses
and neobanks are winning customers
and taking away market shares. With
agility and innovation as core
characteristics, these new players offer
a higher level of convenience and user
experience that traditionals lack.
The consulting company Bain predicted
that the future of banking is determined
by how well banks “leverage the power
of customer insight, advanced analytics
and digital technology. It’s a must to
enhance personalization of banking and
design services that cater to customers’
every need, rather than focus on cost
reduction and efficiency.
04
7. DBS BANK
DSB Bank and OCBC Bank are the two
financial pioneers in Singapore, both of
which allegedly applied Design Thinking
to achieve excellence in customer
experience and service. For DBS, it has
been named as the world’s best digital
bank with their project “DBS Home
Connect” in 2013, which leveraged
Design Thinking.
As its leaders and employees are
enthusiastic about Design Thinking,
DBS successfully adopts AI, Big Data,
and biometrics to design new offerings.
The DBS Home Connect is a mobile app
that lets customers check transaction
information and calculate mortgage
payments for home buys. As a paper
pointed out, the principles DBS used
centered on humans and their
underlying needs for an exceptional
customer experience.
OCBC BANK
OCBC also sees Design Thinking as the
guiding light for its Digital Banking
Journey. When designing its new
product, OCBC leveraged customer
insight, co-creation, community
engagement, stakeholder involvement
and experimentation, much of which are
adapted from Design Thinking. OCBC
Full Service Sunday Banking, a bank
policy friendly to family and kids, is
undergirded by Design Thinking. The
techniques involve “outside-in”
perspective, focus group discussions,
moment mapping for prototype and
testing, and learning labs for learning.
NATIONAL
AUSTRALIAN BANK
By partnering with the consulting group
Oliver Wyman, the National Australian
Bank (NAB) designed a solution for the
small and medium enterprise (SMEs)
clients, focusing on customer
experience. Thanks to Design Thinking,
NAB can simulate how people feel when
they use the lending process. The team
then realized that the process was
complex and time-consuming. They also
concluded that their customers prefer
services delivered through mobile
devices, rather than brick-and-mortar.
As a result, a plan for an online
application NAB was created. With this
app, NAB’s SME clients can secure close
to $50,000 of loans, 60-second decision
making process, and 3-day funds
disbursement.
DEUTSCHE BANK
Deutsche Bank of Germany started to
apply Design Thinking to its IT
department first, before propagating it
across the organization. Deutsche Bank
first built a small design thinking team
and partnered with design thinking
experts that are dedicated to successful
projects. There are three phases to
Design Thinking at Deutsche Bank: (1)
Learning, (2) Adapting, and (3)Diffusing.
After the IT team has adopted Design
Thinking, the principle progressively
spreaded across the organization. In the
end, Deutsche Bank completed the first
prototype in less than 12 months, and
the second prototype in less than 18
months. After five years, they have
rolled out eight customer-centric
products. When Design Thinking is
accepted as adequate, Deutsche Bank
went so far as to employ a Vice
President for Design thinking.
ACB BANK
With a history of 27 years and as one of
the largest banks in Vietnam, ACB knew
it was pressurized by new market
entrants such as start-ups and
neobanks. The recent directives, where
the government encouraged Digital
Banking and cashless society, also
prompted ACB to change. That’s why
ACB decided that it has to change, in a
customer-centric way. By partnering
with KMS Solutions, ACB was consulted
on Design Thinking and Mobile-first
Development. After only 4 months of
partnership, the two team has released
the minimum viable product (MVP) of
ACB Business App, a mobile application
that allows ACB’s business clients to
manage their financial health on-the-go.
06
8. Since it has a laser focus on user experience, Design Thinking helps banks to attract and retain the so-called digital natives.
By continuously developing new products and refining them to meet the continuously changing customer needs, banks
can promote a more sustainable growth. Furthermore, Design Thinking also aids in regulatory compliance, now that the
government has introduced decrees encouraging Digital Banking.
As Design Thinking supports the end-to-end development process, Design Thinking has become a foundation for
Digital Transformation in the banking sector.
While the banking landscape is threatened by numerous disruptive forces: digitization, new regulations, changing
customer behaviors, and heightened competition, this is not the end. Instead, this marks a revolution for banking
businesses, where they change their DNA to adapt, with a change in strategy and technology.
To read our latest thoughts on Digital Banking, access: https://info.kms-solutions.asia/six-imperatives-for-digital-banking
9. KMS Solutions works closely with leading software companies across the globe to
bring the most advanced and innovative technologies to Asia Pacific. The focus is to
help organizations achieve their business goals through world-class fit-for-purpose
solutions and proven industry best practices. KMS Solutions’ success is ultimately
measured by the positive impact that it makes to the client’s business.
To learn more about KMS Solutions, visit kms-solutions.asia