The Millennial generation has grown up with information technology and they expect their interactions with Business to Consumer (B2C) IT systems, whether sales or service focused, to consistently deliver top-quality customer service experiences. More so than previous generations, they are both heavily marketed to by brands and very brand conscious; they tend to group together and follow the latest trends. As such, companies today would be wise to tailor their offerings to address the expectations of Millennials, as they are the next generation of customers. Continue reading
Many global companies are using business transformation initiatives to meet changing market needs. Implementing large IT programs is a key component of these change initiatives. Given that the failures of such programs are now commonly discussed; a recent McKinsey/Oxford study highlights that the failure rate of such programs is indeed more often. According to the study, half of IT projects with budgets of over $15 million dollars run 45% over budget, 7% are behind schedule and deliver 56% less functionality than predicted. What should organizations do to mitigate failure of such programs, and successfully implement their program? Continue reading
Most people are still trying to get a handle on how to use their mobile phones and tablets effectively so the idea of adopting and integrating wearable technology into your life may seem as far off as The Jetsons.
Wearable Technology – Gaining momentum
While wearable technology is still in its infancy, there is no doubt that it will soon enter the mainstream. We are already seeing many consumer electronics companies increasing their focus in this area. Continue reading
The leading world economies have witnessed a decline in consumer disposable income in the past five years resulting in less spending on books in general. The mega trend to move from traditional publishing to digital publishing has also impacted the global book publishing industry significantly. The proliferation of new tablet and smart mobile devices coupled with personalized e-Book readers and competitive pricing of e-Books have impacted revenues. The investments necessary to transition to the new digital publishing world has led to consolidation in the industry, recently Random House and Penguin merged to form the largest publisher, Bertelsmann will own 53% and Pearson will own 47% of the new venture. Continue reading
2013 was a big year for mobile banking driving by trends such as increased smart phone adoption and the popularity of mobile check deposit. Looking into 2014, we see several areas that will drive mobile banking adoption even higher: Continue reading
Year 2013 was in some ways a year that created the foundation for rapid mobile banking growth in the coming years. An Accenture study found that adoption increased in the US by 50%. This growth shows no sign of slowing, as Forrester Research predicts that U.S. mobile banking users will double in the next five years, reaching 108 million by 2017.
Looking back at 2013, we can see several trends driving mobile banking adoption. Continue reading
The age of ‘millennial transit’ is upon us, as changes in technology present both tremendous opportunities alongside previously un-encountered disruptions to every day working life. Youth and technology have created a catalyst for organisational change. The pace of innovation today has never been greater and the challenge for many corporations will lie in harnessing the power of these changes as a competitive weapon. The millennial generation, those who have grown up with technology embedded into their everyday lives, hold the key to this business transformation.
It is often said that human nature resists change, clinging on to the status quo; yet failure to at least understand and evaluate the latest trends will make organisations obsolete in the industry landscape. Companies need to have the courage to ask tough questions and re-evaluate their business models. The millennial generation cannot be ignored; they are your employees, your customers, and potentially your employers in years to come. Continue reading
By 2015, the U.S. will no longer be a non-EMV market and will see widespread adoption of the chip-and-PIN cards used in much of the rest of the world. Here’s three reasons why:
EMV is already partially here
In 2013, American Express joined the “Corporate Credit EMV Card club.” American Express is now offering EMV for their premium corporate cardholders – Platinum and Centurion. From 2011 onwards we have had U.S. Bank, Chase, Wells Fargo and BofA offering EMV for their corporate clients. This shows that at the minimum, cardholders who travel extensively in corporate America now have a safe and secure payment vehicle. Continue reading
Every year brings plenty of hype around the promise of what new technical advancements and capabilities can bring to organizations trying to transform their businesses. There are also plenty of things that never quite live up to the promised hype. Let’s take a look at what to expect in 2014.
As economists have recently revised global economic growth prospects downward, the expectation for 2014 is that interest rates will remain low. If global economies are slated to grow sluggishly, logically, the prospects for IT spending in the banking and financial services sector would also remain slow.
This uncertain outlook is supported in the US by a few factors. The stock market, which is at record highs, needs firms to continue to provide stellar results, which unfortunately becomes more difficult as year-over-year comparisons are no longer being done on the lower post-crisis results. This could motivate firms to begin investing to generate new and improved sources of revenues but to date there is little empirical evidence of this and expectations remain muted. Merger and acquisition activity, a big driver of investment bank revenue, may also be dampened since stock share prices have reached these new heights. Housing, the traditional driver of economic growth and major source of banking revenue through mortgage lending, may be losing steam as supply and demand has driven prices higher in many regions. Growth in new construction will need to gain momentum in order to increase supply and help drive sales and ultimately the economy. Continue reading