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Artificial Intelligence in the Banking Sector

Posted by Anna Mielczarek on 18-Oct-2018 07:30:00

The pace at which companies are investing in artificial intelligence (AI) continues to gain momentum and the financial sector is no exception. In fact, according to Business Insider report ‘AI is one of the most commonly referenced terms by financial institutions (FIs) and payments firms when describing their vision for the future banking sector as it can be applied to almost every area of financial services.’

But that’s not all! As stated by global management consultancy Accenture, banks that invest in AI and human-machine collaboration tools could boost their revenue by over a third (34%) by 2022.

Moreover, AI is considered one of the most important disruptive technologies for today’s banks, as a recent PwC survey revealed that 72% of senior management see AI and machine learning (ML) as key sources of competitive advantage. The same survey also highlighted that 52% of firms in the financial services sector are already making substantial commitments to AI, with 66% projecting significant investments by 2020.

So, it seems that these numbers speak for themselves – when it comes to financial services AI is a must!

But how exactly AI can help banks improve their operations and bring them closer to their customers?

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Topics: Digital Transformation, Emerging Technology, artificial intelligence, Finance, AI

How Digital Transformation Can Help You Improve Customer Engagement

Posted by Anna Mielczarek on 16-Oct-2018 07:30:00

Over the past several years, a great majority of organisations have been focusing their efforts on deploying Digital Transformation into their businesses. Nowadays, there is a growing need for digital innovation that can bring a company closer to becoming a digital enterprise. And only new technologies have the power to enable companies to create more agile environment, become more flexible, scalable, while also delivering a seamless and consistent customer experience across channels.  

But while Digital Transformation can indeed help businesses achieve all that, for many, it may seem that this movement towards world run by technology and automation would make brands more distant from the consumers, instead of connecting with them more personally.

However, it is not true, and in fact, if implemented successfully, Digital Transformation is more than likely to help companies improve customer engagement.

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Topics: Digital Transformation, Emerging Trends, retail, Emerging Technology, General Tech News, Engagement

B60 Blog in Swedish: (Digital) Förändring vs Innovation: Vad är bäst?

Posted by Anna Mielczarek on 11-Oct-2018 10:31:14

Orden Innovation och Förändring används ofta på ett sådant sätt att man enkelt kan byta ut dem mot varandra. Ibland används båda orden till och med i samma mening. Det är kanske inte så förvånande att båda orden väcker tankar på modernisering och omorganisation, och att båda är viktiga resultat av förändrade ledarstilar.

Bortsett från detta, vad har de mer gemensamt? Eller vad är skillnaden? Vad ska vi göra – vara innovativa eller kanske förändras? Vad sägs om både ock?

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Topics: Digital Transformation, B60 Blog in Swedish, Success, Change and Innovation

B60 Blog in Swedish: Digital Förändring - 5 Misstag du bör undvika till varje pris

Posted by Anna Mielczarek on 11-Oct-2018 10:21:15

Digital förändring är för många företag fortfarande ett relativt nytt begrepp – det kan ge en rad fördelar till företaget om den implementeras på rätt sätt.

Bara en handfull företag kommer förmodligen lyckas i sin strävan efter att förändra sin organisation. För andra kommer Digital Förändring även fortsättningsvis att vara en utmaning eftersom de ständigt fortsätter göra samma misstag vilket leder till att den digitala resan misslyckas.

Det är väl inte nödvändigt att påpeka att när digital förändring görs på fel sätt kan både företagets operationer och strategier komma i oordning, vilket i sin tur leder till stor tveksamhet hos dina anställda och minskad lust att prova på saken igen.

Här följer 5 vanliga misstag du bör undvika om du vill att ditt företag ska hantera och implementera den digitala förändringen på ett effektivt sätt.

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Topics: Digital Transformation, B60 Blog in Swedish, Common Mistakes, Challenges, People

B60 Blog in Swedish: 3 Vägar till en förändrad bank

Posted by Anna Mielczarek on 11-Oct-2018 10:13:11

Att ta beslutet om utveckling av Digital anpassning av företaget är bara det första steget på resan, och i många fall även det enklaste. Efter detta måste du ta beslutet om hur du ska förändra din organisation. Vilken väg som är bäst blir i många fall grunden till segdragna diskussioner inom företaget. Ska du göra om företaget i grunden och skapa en helt digital organisation? Eller borde du fokusera på förändringar utåt som är mer synliga för dina kunder?

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Topics: Digital Transformation, B60 Blog in Swedish, Finance, Success, Change and Innovation

B60 Blog in Swedish: 4 Anledningar till varför samarbete kan hjälpa dig att driva igenom digital anpassning

Posted by Anna Mielczarek on 11-Oct-2018 09:57:11

Många kanske inte inser det, men samarbete är en av grundstenarna till din verksamhet. Det kan vara nyckeln till framgång, ett sätt att boosta innovation och produktivitet, förbättra ditt anseende hos kunderna och i vissa fall till och med öka potentialen för investeringar.

Vid samverkan med andra kommer hela organisationen att dra nytta av det. Vi pratar om ökat engagemang hos anställda, hur vi kan behålla och locka till oss talanger, öka tillväxt och lönsamhet!

Men förutom detta är en kultur präglad av samverkan nödvändig för organisationens överlevnad.

Utvecklingen inom mobil- och digital teknik driver fram en rad nya företag intresserade av fördelarna med digital anpassning. I samband med detta glömmer många bort andra möjligheter som kunde ge lönsamhet om barriärerna för samarbete med andra brutits ner.

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Topics: Digital Transformation, Collaboration, Leadership, Corporate Culture, B60 Blog in Swedish

How Emerging Technologies Are Transforming The Retail Industry

Posted by Anna Mielczarek on 11-Oct-2018 07:30:00

Retail industry has taken a sharp turn. When we compare, what retail was about 10 or 15 years ago, and what it is now, the transformation is enormous. In fact, it makes us realise how fast the industry has changed with the help of innovative IT solutions, and the new technology.

To understand it better, let’s look at the example: before, when someone had to make a purchase, they had a handful of options i.e. few local stores to choose from. And then, it was enough, but now the situation is quite different. Customers of digital age have a multitude of options to decide how and where to buy the product from. With an abundance of information available at the fingertips, customers have high demands and expectations from the retailer – for example, nowadays, we don’t want to simply buy products in the store – we want to get them delivered to our house, and we want it fast.

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Topics: Digital Transformation, Emerging Trends, retail, Emerging Technology, General Tech News

Top 5 UK Challenger Banks You Should Know About

Posted by Anna Mielczarek on 09-Oct-2018 07:30:00

Digital Transformation has changed the established way of operating a business across plethora of industries – and banking is no exception. New start-ups keep challenging traditional service providers with a more personalised and innovative service. And although, traditional banks have been slow to adapt, they need to change it now, especially if they still want to be relevant in the industry.

Challenger banks are digital banks with no high-street branches. They are much more flexible, more user friendly, quicker to adapt to users' needs, and more personal than any traditional bank. But their biggest advantage over other well-established financial institutions is that they have been founded in the age of digital literacy, that means starting fresh with a digital offering and the use of the latest technology available. For this reason, challenger banks can incorporate new products more quickly, and with less friction through their platform business model, which can easily connect customers with new products developed by third parties. And this greatly increases customer choice.

So, which UK challenger banks are shaking up the industry? Let’s find out.

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Topics: Digital Transformation, Success, Emerging Trends, Finance, Change and Innovation

4 Steps for Digital Transformation

Posted by Anna Mielczarek on 04-Oct-2018 07:30:00

Digital Transformation is not a matter of choice, it is a matter of survival, and it’s everywhere. Every single business and organisation in every industry is shifting towards technologies in some way, and even if some of them don't realise it – this is what we call Digital Transformation.

Nowadays, storefronts of almost every retail brand are replaced with online shops, consumer services amplify their reach via web, mobile, even in virtual assistants; manufacturing goes high-tech to improve efficiency and productivity, and reduce cost. Some of more innovative companies reinvent their business and launch digitally native products, like Amazon’s Alexa.

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Topics: Digital Transformation, Challenges, People, Success

Digital Transformation Is Reshaping Financial Services

Posted by Anna Mielczarek on 02-Oct-2018 07:30:00

Usually described as resistant to change and quite conservative, financial sector has no choice but to follow other industries in their digital journey. Well-established, traditional banks have been challenged by financial technology start-up companies that take over industry by combining digital technology, social media, and big data analytics to replace traditional models with financial products and services enabled by new technology.

So, as disruptive changes occurring in the financial services industry are largely the result of digital technologies that have been developed and refined over the past decade, it comes as no surprise that in order to survive, and stay competitive the financial services industry and its CIOs are increasingly embracing Digital Transformation to improve their IT infrastructures.

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Topics: Digital Transformation, Change and Innovation, Challenges, Finance, Emerging Technology