Driving business agility for global banking and fintech leaders

Banking transformation  is no longer a matter of choice for banks and financial institutions. Every bank and financial institution must transform today if they aspire to stay in a competitive position in the market. The prime objective is to streamline it in such a way that the bank customers do not face any difficulty in accessing and enjoying the desired services. Today, the customers are well informed, and they do know how to differentiate between the quality of service provided by two service providers. They do not waste much time in switching to a better service for better quality.  It is not wrong to say that the need for  banking transformation  has increased significantly in the year 2020. It is partly because of the ongoing pandemic and the resultant lockdowns imposed by the governments. Financial activities were hit, and customer service went online. An overwhelming number of people came online to avail banking services, which required a robust technical infrastructure to h

Banking services play an essential role in human society. Today, we cannot imagine financial planning without interacting with any bank commissioned service. For the majority of the population, banks have taken up the responsibility of being a financial advisor, savings solution provider, and financial risk manager. For the government too, it would become nearly impossible to mobilise the money generated from public economic activity to industrial and social development without the active participation of banks. At the turn of the current millennium, when banks started embracing digital technology to ease their operations, both the government and the population lent their support.  Today, it would not be too much of an exaggeration to say that the banking industry is one of the most digitally transformed sectors in the market. The transformation of banks has made banking operations clean, lean, and fast. As a result, banks can efficiently serve their customers. However, if you want t

Mining is one of the most significant economic activities in India. It significantly contributes to the GDP share produced by the industrial sector of the country. With a large workforce involved in mining, the Government of India provides special care while laying down the policies for mining. In recent years, special attention has been provided to make mining sustainable and in compliance with environmental standards. It is quite out in the open today that mining results in a great deal of environmental pollution. However, mining is the only way to extract precious metals, minerals, and ores, which play an important role in the manufacturing of consumer products. This is why restricting mining activity is difficult, and it might hamper the growth of the economy of a developing country like India. Data transformation   refers to the modification of the data so that various analytical tools can analyse them and generate inferential results, which can be used by the management for decis

When it comes to the comprehensiveness of information, there cannot be any comparison to visual representation. The human brain responds to the visual representation of any data, theory, or even abstract idea actively and instantly. This is the reason why scholars have been polishing the art of data visualization over centuries and have been successful in devising several tools to do so.  Today we have graphs, charts, maps, etc. to represent data in academics, science, business analysis, marketing, and even in our daily life. However, it would be wrong to assume that the tools which are already in use are adequate to represent all kinds and volumes of data. Sometimes, data visualizers might need to combine two or more  data visualization  tools to represent a particular piece of information in the right way. Sometimes, the data visualizers might need to think of a completely new tool to represent the data that would appeal to the audience the most. This compulsion to work upon new da

Net banking is a concept that is not too old in the banking sector. However, it has been successful in replacing various other traditional means of banking among regular bank customers. The golden days of net banking have been replaced by mobile app-based banking. Today, almost every bank is making investments in the development of mobile applications that would assist bank customers in accessing their accounts and process transactions quickly and seamlessly.  It would not be an exaggeration to say that the confidence of the banks to serve their customers over mobile applications is powered by open banking technology. It takes the help of a central directory of bank information of every customer and facilitates data access and transfer without any hindrance. It is why you can check and make changes to your account and savings using your mobile application, without even bothering about the fact that you had started your account in a city and a branch that is far from your current loca

Banking systems across the globe are witnessing tremendous re-development. The methods and frameworks of these developments might be different and varied, but the objective of each of them is the same. All these efforts undertaken by the banking institutions are directed towards better and more personal customer service. The primary vehicle to reach this objective is data generated by customers themselves.  Today, the banking institutions have realized that they can serve the customers only after they understand their requirements and work to fulfil them. And what better way than customer data analysis to understand their requirements. It is the reason why banking institutions lay so much emphasis on the accumulation of customer data, both the characteristic data of the customers and the transactional data. Now, the mere collection of data would not serve any purpose unless made suitable for analysis.  Data transformation  refers to the modification of the data so that various anal

Software development in India is undergoing an overhaul lately. Corporations are laying a great deal of emphasis on the use of modern software development processes. They are not trying to eliminate the use of traditional software development processes. That would be counter-productive. Instead, the process is replaced by modern ones. Soon, the novel processes will take over.  It has been seen that although there are a large number of new software development processes in practice, only a few are given due importance. It is purely from the perspective of the convenience of the software developers. There might be processes that would help create a better software ecosystem, but these might not be easy for software developers. So, most corporations are consciously opting for software development processes that have positive outcomes and a convenient journey.  DevOps   is one such process. The specialty is that it beautifully combines the software development process with the operations

When it comes to the comprehensiveness of information, there cannot be any comparison to visual representation. The human brain responds to the visual representation of any data, theory, or even abstract idea actively and instantly. This is the reason why scholars have been polishing the art of data visualization over centuries and have been successful in devising several tools to do so. Today we have graphs, charts, maps, etc. to represent data in academics, science, business analysis, marketing, and even in our daily life. However, it would be wrong to assume that the tools which are already in use are adequate to represent all kinds and volumes of data. Sometimes, data visualizers might need to combine two or more  data visualization  tools to represent a particular piece of information in the right way. Sometimes, the data visualizers might need to think of a completely new tool to represent the data that would appeal to the audience the most. This compulsion to work upon new  data