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Signalytics Enterprise
4

Nov 27, 2020

Signalytics Enterprise Event Hub

Senthilkumar Nallathambi Senior Enterprise Architect, Digital & Analytics

The current context of global pandemic has brought forward the realities in the business strategies planning and management. The changing situations have forced all Enterprises to go digital irrespective of the ways, which has forced most...
Customer Experience through Data Science
14

Nov 20, 2020

4 Ways to Drive Unparalleled Customer Experience through Data Science

David Sogn Associate Vice President – Digital & Analytics

Today, businesses are harnessing the power of data science, analytics, and cultural insights to generate highly effective and actionable business intelligence. Data science is driving everything from predictive maintenance to semantic relationship...
Quantum Cryptography
39
Across all the sectors there are few common trends such as increased digitization, the proliferation of IoT, and increased device connectivity. Such trends bring increased risks, threats and vulnerabilities to data, devices, and systems. Scientists...
Convergence Through the M&E Industry
75

Oct 21, 2020

Convergence Through the M&E Industry

Sanjai Ranganathan Vice President, Media, Entertainment & Publishing Verticals

COVID-19 is disrupting industries worldwide. The media and entertainment (M&E) industry is no exception. The hardest-hit sectors in M&E are those that monetize social/physical interaction—such as live music concerts, cinema, B2B events, and...
Digital Transformation
78

Oct 14, 2020

Ensuring Success in Large-Scale Digital Transformation

Deepak Kikan Deputy General Manager, Digital & Analytics

Digital transformation has been one of the major topics for large organizations to achieve optimization, cost reduction, minimizing manual interactions and aligning business and IT. With the changing times, it has become the need of the hour for...
VUCA
155
Despite the VUCA challenges, this global change will not only future-proof businesses but also help them deliver value with meaningful products and services through business models that account for risk as well as cost
Cloud Migration Marathon
26

Oct 13, 2020

Cloud Migration Marathon and Need for Automated Multi-Cloud Migration Factory

Anandan Subbiah Senior Solution Architect, Digital & Analytics

Digital transformation has become imperative for all businesses, from the small to the large enterprise, irrespective of the industry. Enterprises are being enforced by different business drivers and technology drivers to embark on the digital...
New Era of Digital Economy
83
Today in the era of digital transformation, being agile and agility mindset is taking center stage in the enterprises. Experience has proved that Business Agility is necessary for a wider organization to reach with a higher degree of benefits as...
Program Management
61

Oct 12, 2020

Program Management in Crisis

Deepak Kikan Deputy General Manager, Digital & Analytics

Covid-19 has pushed the limits of program management while testing the technology advancement to make the skill a success. It has changed the way the traditional program management was done with the customer priorities shifting towards the cost...
What is Digital Infrastructure?
15,837

Apr 21, 2016

What is Digital Infrastructure?

Alan Flower SENIOR VICE PRESIDENT | GLOBAL HEAD – CLOUD NATIVE LABS & ADVISORY SERVICES | CTO – EMEA

Corporate strategies are now based on digital transformation. Businesses are now focussing on customer engagement/UX, rapid innovation etc. A new class of digital infrastructure is evolving, one which better supports this digital transformation.
Byzantine Fault Tolerance
1,546
Various consensus mechanisms or protocols in a distributed system or blockchain technology inherently deal with the Byzantine Generals Problem. There are many solutions that provide a partial answer to this issue, if not full. Consensus implies the...
Pandemic Analytics
5,555

Mar 31, 2020

Pandemic Analytics: How Data is Helping Us Combat COVID-19

David Sogn Associate Vice President – Digital & Analytics

With almost 750,000 people affected, including more than 35,000 deaths, the novel Coronavirus, or COVID-19, is wreaking havoc across the globe on an unprecedented scale. The novel Coronavirus is having a far-reaching impact as people across the...
covid-19
3,372

Apr 13, 2020

Impact of COVID-19 On Global Supply Chains & Opportunities in a Post-COVID World

Amitava Sengupta Executive Vice President - Digital Consulting, Digital and Analytics

Transportation restrictions imposed by various governments all over the world, have severely disrupted global supply chains. Challenges in manufacturing, procurement, distribution, and retail are on the rise, leading to major problems in certain...
Leverage technology to drive healthcare innovation
361
A global public health crisis is an eye-opener for the life sciences and healthcare industry, which is traditionally slow in adopting new technologies. Utilizing available healthcare data and technology innovation can help the industry fight the...
Transformation
1,953
Client on boarding (COB) refers to all activities that are performed during the acquisition of new customers and plays an integral role in subsequent interactions during the complete customer lifecycle - ranging from all the mandatory KYC, AML, risk...
Quantum Cryptography
39
Across all the sectors there are few common trends such as increased digitization, the proliferation of IoT, and increased device connectivity. Such trends bring increased risks, threats and vulnerabilities to data, devices, and systems. Scientists...
Changed Realities in Hospitality Industry post COVID-19
265
The global COVID-19 outbreak has affected businesses, especially the travel and hospitality industry, and disrupted the continuity of operations. As we come to terms with the pandemic, industries are grappling the consequences of an economic...
DT
1,437
Today, almost every enterprise is going through a digital transformation, in order to stay competitive and be a leader in its market. These digital transformations are changing the way companies deliver their business services as well as IT services...

5 FinTech trends to watch in 2016
Santosh Kumar - Senior sales director & Head – Fintech Innovation | February 29, 2016
1775 Views

Financial Services are at the cusp of digital disruption. We might not be witnessing a 'revolution', but all the emerging trends and technologies are certainly proving that we are in the midst of an ‘evolution’.

Most of the large global banks are born pre-digital and are facing the challenge of legacy infrastructure, software, and culture. On the other hand, the new challenger banks are born-digital and carry no baggage of legacy. They are creating products and services that are relevant to the digital age customer’s needs.

Most of the large global banks are planning to either start their new digital banks or buy stakes in some of the challenger banks just as BBVA did recently by taking ~30% stakes in Atom bank. At the least, we will witness many pre-digital born banks investing in and embracing digital trends and technologies in 2016.

Here are 5 FinTech trends to watch out for in 2016:​

  • Blockchain - Distributed Ledger:

    Financial services organizations are racing to harness the power of the Bitcoin infrastructure to slash costs. The basic technology underpinning the Bitcoin virtual currency could be used by some of the world's biggest banks. These banks want to use the Blockchain method because it is hard to fool - making fraud difficult, speed up trading systems and make deals more transparent. Many banks such as UBS are already trying out Blockchain technology for different use cases.

    Blockchain is the software that both powers and regulates cryptocurrency Bitcoin. In its most basic form, it records ownership of Bitcoin — money — and transactions — one person paying another. The software uses a distributed ledger to police the network, which means a certain proportion of the vast network must sign-off on a transaction before it can be processed. This replaces the need for a ‘trusted middleman’ in a transaction.

    The project to test Blockchain-like technology is being led by financial technology firm R3 which has so far signed 30 banks. R3 has done a good job bringing all the rival banks together. We are witnessing a great interest across financial services on trying out this disruptive technology and will continue to see investment in 2016 to try out specific use cases that can give banks a competitive advantage.

  • Biometrics:

    2015 was the year that banks began to experiment seriously with biometrics: US financial provider USAA already offers three different biometric login options for its mobile customers (Touch ID, Facial recognition, and Voice recognition). Biometrics has been the ‘Next Big Thing’ in authentication for a long time now, but many things that have held it back have not gone away. There is often the need for costly additional equipment, and processes that require verification by a back office platform which makes it slow. Wells Fargo is testing voice recognition and eye scanning, joining an increasing number of banks and other financial services companies using biometrics technology to authenticate customers using their mobile applications. Nearly one-third of the largest US banks plan to make biometrics available to mobile banking customers by the end of this year.

  • Artificial Intelligence (AI):

    Robots have begun their invasion of banking. Robots and Artificial Intelligence (AI) in banking have the potential to reduce costs, expand skills, and improve the customer experience while working alongside or replacing humans. According to an article, Barclays believes that AI is the future of banking, and one bank in Tokyo is already staffed by a helpful robot. We have already seen rudimentary examples where users can talk to a computer system to make money transfers or access information. 

    Robo-advisors, or fully-automated online investment platforms, are also disrupting the financial advisory services. FinTech startups such as Betterment and Wealthfront have managed to pull early investors with their robo-advising platforms offering the perks of low fees and a reduced entry barrier when it comes to minimums. Many large banks including Deutsche Bank have launched their robo-advisor services. Automated financial advisors and planners that assist users in making financial decisions is a very strong use case. 

    We are certain to see an increased investment into AI in 2016 across financial services.

  • The API Economy:

    APIs are yet another vital trend driving disruption, and fueling FinTech startups and open banking data initiatives worldwide. Some of the new banks such as Fidor bank are already reaping the benefits of open APIs. With new rules such as European Payment Service Directive (PSD2) coming into existence, banks will have to implement APIs that can provide access to payment account information to third parties – including their competitor banks – following the customer’s explicit consent.

    Consumers now have the power to engage and perform transactions wherever they are, through a device of their choice. To engage customers across all digital media, banks need to be able to provide contextual and personalized product offerings and drive immediate conversion through embedded offerings. With the advent of APIs, banks can easily expose their product catalogs, payment wallets, and other services to digital customers.

    APIs are an important component in the digital architecture and banks are investing in building modern applications that can service their customer on a platform of their choice at any point in time. We will continue to see increased investment in 2016 on building APIs and helping banks serve their digital customers better.

  • Cloud Computing:

    Cloud has become one of the mainstream strategy topics for most large global banks. The debate is not if, but, how will they eventually embrace cloud – if not public cloud, then private cloud or hybrid cloud – and which version to select for which function.

    Banks will continue adopting Cloud services for their business applications, while carefully keeping sensitive data housed at private data centers. According to CIO.com, Deutsche Bank plans to have 80% of its systems based in the cloud by 2020. Today, cloud has matured and covers a panacea of Software-as-a-Service, Infrastructure-as-a-Service, Platform-as-a-Service, and more. It is certain that if not public, private, and hybrid clouds will play a vital role in the banks’ digital future.

    Join us at Netherland India Business Meet 2016 to hear Santosh kumar speak on ‘The changing face of Financial Services’


Giving the digital challengers a run for their money with two-speed it
Rahul Singh - President, Financial Services | February 26, 2016
1288 Views

The financial services industry has experienced significant disruption over the past few years, as digital technology innovation has ushered in a new era of intense rivalry.

Digitalisation - Figurative & Quantifiable Dimensions
Arpan Chatterjee - Sales Director - Travel, Transportation and Logistics | December 16, 2015
268 Views

At the cost of repeating myself… ‘What exactly is Digitalisation?’ This certainly seems to be the talk of the town, but is this buzzword a new concept or once again, a fundamental and radical idea, but in a new package? Secondly, assuming for a moment that this is important for today’s business, how does Digitalisation impact the Travel, Transport, Logistics and Hospitality business?