The rise of Virtual Agents: Time to automate, personalize and contextualize customer experience

In most industries, there has been a lot of talk about Virtual Agents and their role in enhancing customer service. Virtual agents are software programs that enable automated, contextual conversations with customers. At a basic level, Artificial Intelligence (AI) driven Virtual Agents can be suitable alternatives to staff taking up customer calls. No doubt these 

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How geolocation mapping can safeguard customers’ financial transactions

The customer is always at the centre of innovation. New business propositions are being tested out almost daily to deliver services that provide engaging experiences and more convenience. Contactless payments are a great example of an innovation that has made customers lives easier. And with the Internet of Things now becoming a reality, the coming, 

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Near Field Communication (NFC) – Contactless payment

NFC offers the best of both worlds i.e. contactless payment and mobile technology. Smartphones let a customer store multiple credit cards and other payment methods all in one device that the customer is likely to carry everywhere with them already. It cuts out the unnecessary hassle of texting or swiping through menus to make payments 

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How 2015 could be a watershed year for digital banking

According to the 2014 World Retail Banking Report from Capgemini and Efma, less than 40% (a decrease from 41.6% in 2013 to 39.5% in 2014) of customers globally reported having positive customer experiences with their bank. The main reason for this dissatisfaction is the bank’s failure to develop a comprehensive digital and brick-and-mortar strategy around 

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Apple Pay – An attempt to demystify Apple’s new service

When Apple announced Apple Pay as a service on September 9th, they mentioned a few key terms like secure element, tokens, one time unique number, device account number and dynamic security code. For the layman, this could mean that Apple has used the most advanced security technology in Apple Pay; but for the folks in 

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A travel app for the millennial age

Most of us travel at some point, whether for business or leisure. Often it’s an itinerary we are very used to, however sometimes it’s somewhere new which entails us stepping out of our comfort zone. However whether familiar or unfamiliar, sometimes things go wrong. To help with the travel process, we would all benefit from 

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Five reasons your business needs a digital platform

It’s surprising how the addition of one mobile channel increases the number of digital mediums of interaction. The mobile channel not only includes phones, tablets, wearables, connected devices, etc., but it also delivers an experience based on the context. When a mobile device is used at work or home, it delivers the experience of a 

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Wearable technology: Passing fad or next big thing in the consumerization wave?

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 

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Mobile Banking Trends in 2014

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: Bob GrahamSenior Vice President – Head of Banking & Financial Services, Virtusa. Bob Graham brings over 

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5 tech trends we’ll see more of in 2014

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. Frank PalermoExecutive Vice President – Global 

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Enterprise mobile QA: The truth about 5 common myths

Mobility is the next frontier of the enterprise.  As millennial consumers in a digital age, we are driving change to our employers, business partners, and even clients to allow for the same flexibility, speed, and interaction with data that we have in our personal lives. This applies to device usage as well as software development, 

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Branch Banking May Outlast the Online Channel After All

There have been many articles and opinions written about the demise of the banking branch. These discussions have dated back to when the ATM was first introduced and have been brought up again more recently due to the rise of mobile banking. Today’s consumer bank provides services across physical branch, ATM, online, mobile and tablet 

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How Wall Street is adopting the Tablet devices

Tablets are everywhere on the Wall Street, on trading floors, in the offices of money, fund and wealth managers, brokers are using them, so are traders, regulators, financial analysts, accountants, auditors, media persons and the persons who run the IT back office and data centers. Because of their light weight and convenient form factor (from 

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mHealth for Healthcare Payers: 5 Key Applications focused on Member Interactions

In one of my earlier blogs on SearchHealthIT titled “mHealth for Healthcare Payers: 5 Key Focus Areas for Mobile Applications”, I had listed applications for member interactions as one of the hottest areas that provide more value add to the payer organization. There is more focus on the member interactions due to the advancement of 

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Enterprise Gamification: Engaging the Millennials

Millennials are achievement-driven. They are exposed to myriad of online gaming environments where being in the game is all about fierce competition, deep collaboration and building a reputation. In any game, you have a clearly defined mission; you compete or collaborate to compete and your position depends solely on your achievements. This environment is exhilarating 

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Five Critical Mistakes to Avoid when Building an Enterprise App Store

Enterprise app stores are becoming a critical component of enterprise mobility. More and more enterprises are either building or looking to build enterprise app stores to distribute and manage enterprise mobile applications. The increasing usage of tablets such as the iPad, the bring your own device (BYOD) phenomena and organizational wide activity in rolling out 

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Cloud Computing Adoption in the Banking and Financial Services Industry

Despite the slow adoption of cloud computing by the banking and financial services industry with security and reliability being the major concerns, financial institutions are quickly resorting to cloud-based services to achieve increased agility and lowered total cost of ownership (TCO). According to IDC, worldwide revenue from public IT cloud services exceeded $21.5 billion in 

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Why Businesses Should Think about Going ‘Social’

‘Social’ is clearly at the top of the hyper curve. What does this really mean to businesses? Why should an organization think about social? There are a few fundamental shifts that are making a significant impact in the way businesses are run today. First is the growing Gen Y workforce that is highly active on 

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5 Mobile Apps that will be Widely Adopted by Financial Institutions in 2012

Financial services firms globally are investing strategically in enterprise mobile financial service solutions to deliver more mobile-based banking services and reduce the overall cost of operations. According to a recent survey by KPMG, mobile banking has already reached critical mass with 33% of US consumers conducting banking transactions over their mobile devices. This number is 

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