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Technology Predictions for 2019

Posted by Anna Mielczarek on 13-Dec-2018 07:30:00

Nowadays, technology is evolving at such a rapid pace that it is hard to make any predictions as they may be already becoming a reality at this very moment. However, as the end of the year is approaching we can’t help but to find ourselves trying to forecast how new technologies will impact our lives, both on a personal and a business level. 

Although, there’s no doubt that emerging technologies will change the way we behave and interact with other people, for now let’s focus on the business side and how technology will influence organisations.

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Topics: Digital Transformation, Emerging Trends, Emerging Technology, Predictions, AR and VR

How Banks Can Ace Customer Experience In The Digital Age

Posted by Anna Mielczarek on 06-Dec-2018 07:30:00

Meeting demands and expectations of digital customers is not easy at all, in fact it seems that for many organisations, attracting and retaining customers by utilisng emerging technologies might be their greatest struggle. According to Gartner, 89% of companies will mostly compete on the basis of customer experience they provide, and financial institutions are no exception. Especially when we realise how easy it is to switch between banks thanks to the emergence of challenger banks which can provide their customers with paperless and seamless digital experience.

So, what is an outstanding digital banking experience that can help banks win over new customers, but at the same time keep the existing ones?

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Topics: Digital Transformation, Finance, Emerging Technology, Customer Experience

Finance Leaders No Longer View Digital Change as The Top Priority

Posted by Anna Mielczarek on 29-Nov-2018 07:30:00

It might seem that Digital Transformation has become the top priority for a great majority of today’s businesses. Factors such as emerging technologies; increasing demands of the customers regarding their relationship and experience delivered by companies; pressure to change and innovate, and enterprise mobility have an enormous influence on how modern companies operate these days.

And when we hear how Digital Transformation can benefit our firms, whether it is improving and transforming customer experience, encouraging collaboration between departments, updating skillset and knowledge, or fostering a digital culture – it comes as no surprise that businesses not only need to, but also want to change.

But is it the truth? Well, not entirely; especially when it comes to finance leaders.

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Topics: Digital Transformation, Leadership, Emerging Technology, Finance

6 Digital Projects That Are Real Game-changers

Posted by Anna Mielczarek on 22-Nov-2018 07:30:00

Digital Transformation can help companies improve and transform customer experience, encourage collaboration between departments, update skillset and knowledge, and foster a digital culture. But what is a common factor of these benefits? Well, they all focus on the business. However, apart from impacting business, Digital Transformation can also benefit people and communities.

Here, we can talk about Tech for Good initiatives.

Essentially, Tech for Good is a community of people, projects, organisations and funders promoting the role of technology to improve social, environmental and economic outcomes. (Nissa Ramsay, Consultant at Think Social Tech and former Comic Relief Tech for Good Evaluation Lead)

Tech for Good is a digital technology that aims to solve the world’s problems or simply bring joy and hope to people.

So, what are the most interesting Digital Projects, which do that? Let’s find out.

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Topics: Emerging Technology, Digital Transformation, Emerging Trends, People, Tech for Good

Cybersecurity: The Greatest Challenge for The Financial Sector?

Posted by Anna Mielczarek on 20-Nov-2018 07:30:00

Cybersecurity has always been a concern for banks and financial institutions. As data becomes more relevant and in most cases crucial to the core business activities, cybersecurity has quickly evolved into a great challenge to plethora of organisations. And these organisations have every right to worry but, it is the financial sector that should make cybersecurity awareness its top priority.

According to 2018 half year fraud update by UK Finance, which represents almost 300 UK-based, banking, mortgage, markets and payments services providers, financial services firms have been facing an unprecedented level of cyberattacks in recent months. UK Finance distinguishes and publishes data on losses due to few different kinds of fraud, these are: unauthorised fraudulent transactions made using payment cards, online and telephone banking and cheques, and authorised push payment (APP) scams. 

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

Emerging Technologies in The Healthcare Sector

Posted by Anna Mielczarek on 15-Nov-2018 07:30:00

‘Consumers around the world are ready to embrace AI and robotics for their healthcare needs’ says Dennis Brown from PwC.

According to PwC research more than half of customers (54%) are willing to engage with Artificial Intelligence (AI) and robotics for their healthcare needs. Easier and quicker accessibility (34%) as well as faster and more accuracy (31%) are seen as the main advantages of using new technology in the healthcare, while ‘human touch’ (47%) and trust (38%) are the biggest challenges.  

As the healthcare industry is experiencing its most rapid pace of change and innovation, it comes as no surprise that people are finally ready to embrace emerging technologies, which, undoubtedly, have the potential to transform the healthcare, and make it faster, better, more accurate and accessible than ever.

But what are the emerging technologies and how exactly can they change, and improve the healthcare sector?

Let’s find out now!

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Topics: Emerging Trends, Emerging Technology, AI, AR and VR, Healthcare

Going Digital Creates New Risks in The Financial Sector

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

The massive global movement of companies going digital is continually forcing essential changes in what new products and services are created, and how they are delivered to financial services customers.  The position of well-established, traditional banks is changing dramatically due to the emergence of new start-ups companies, and new business and operating models they use and promote.

In its recent paper ‘Moving from analog to digital: a new paradigm for risk management.’ EY states that industry transformation is afoot on an unprecedented scale.

Demographic change; radical new technologies and data usage; a changing regulatory paradigm; and a fast-changing and ever-more-complex ecosystem of competitors, partners and vendors are all listed as key trends that are supporting Digital Transformation. And although, they do force the necessary changes and provide firms with new opportunities, there are also associated with an uncertainty.

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Topics: Digital Transformation, Emerging Technology, Challenges, Finance, Risk Management

Digital Transformation of IKEA: Innovation Lab, Smart Home Products and Self-driving Cars

Posted by Anna Mielczarek on 25-Oct-2018 07:30:00

Digital Transformation is everywhere. Every industry and every business will need to, sooner or later, transform itself digitally. And IKEA is no exception. You might think that a major retail brand like IKEA won’t have to worry about it, but the truth is that in order to stay relevant in the industry IKEA must implement some pretty big changes to its operating model.

‘When you look at the changes Swedish furniture giant IKEA is implementing in its operations, it’s clear that they aren’t satisfied with the status quo,’ writes Bernard Marr in his case study of IKEA’s Digital Transformation.

So, what are some of the savvy moves IKEA has been taking to transform itself digitally, and do they mean that Swedish retail giant is slowly becoming a tech company like stated by Marr?

Let’s find out!

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

Are Banks Still Not Ready for Digital Transformation?

Posted by Anna Mielczarek on 23-Oct-2018 07:30:00

Digital Transformation can be a real challenge for the financial sector. In the past few years a great majority of well-established, traditional banks have tried to become more digital in order to address the emergence of new challenger banks that have been slowly taking away their customers. But unfortunately, many projects end in failure as financial institutions have a hard time getting real results. Most banks are focusing on polishing the front end so much that they almost seem to forget that it must be supported by back end as well. And this approach results in crushing systems which leave customers unable to log into their bank accounts.

So, what are some of the examples of banks not being fully prepared for digital changes they have implemented?

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Topics: Digital Transformation, Emerging Technology, Finance, Challenges

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