We’ve experienced yet another retail ‘Black Friday’and with it, stories about inconsistencies across fulfilment channels. This includes stories about some retailers’ inability to deliver goods sold and price variations for SKUs purchased through different consumer media.
With more and more financial services and banking providers entering the market, clients have a plethora of providers to choose from. As a result, lower interest rates owing to lower margins have affected differentiation in the current financial climate. Which is why, Customer Experience and the ability to provide access to value-added services is the battleground upon which Financial Services (FS) organisations will either win or lose.
Life before Agile
I remember the early days, starting out on my first online projects such as ‘Internet on TV’ and WAP. The technology was new and exciting; however, the delivery methodology was very much old in comparison to today’s scrum teams. It was back in the day of functional design, work packages and task management. The days of departmental silos and politics, when position and department defined the virtual hierarchy of the project team; and it paid to take the time to build internal relationships. Internal relationships were paramount to ensure smooth running of the project. Personalities of key stakeholders in the business had so much sway that the majority of my time would be spent planning on how to manage attendance, sign off and buy in. Then came Digital…
While the world is getting increasingly polarized, technology continues to honour the individual, our diversities and differences. For Mastek, this means increasing opportunities to support our customers in handling their own customers with greater insight, sensitivity to their needs and aspirations, as well as high levels of responsiveness and service.
Some banks try to leverage the transactional data from their core banking platforms to provide their clients with categorised spending insights as a service. However, this is a service that very often delivers limited value.
What are Smart Contracts?
Almost all prominent blockchain platforms now extend their capabilities in the form of smart contracts. A general definition of a smart contract is a computer programme that can automatically execute the terms of a contract. They extend the utility of blockchains from simply keeping a record of financial transaction entries to automatically implementing terms of multiparty agreements.
Mobile devices have become ever more of a necessity in people’s lives. This has given banks the opportunity to directly engage with their customers, the majority of which seldom visit their branches.
The Retail sector has often been an innovator. Take the digitisation of product data through the use of barcodes. Prosaic little graphics which we all simply take for granted today, Retail barcode usage began in the mid 1970’s and revolutionised many aspects of how goods were manufactured, dispatched, tracked and sold.
The pressure to deliver digital transformation is gathering pace within government services. As a result, the ideal of using open-source products and frameworks to build user-centric services from scratch is going through intense scrutiny from agencies looking for frameworks that can accelerate their delivery.
In Q1 of 2016, NHS England created 44 Sustainability Transformation Plans (STP) areas. These are geographical footprints bringing together local health and social care organisations (Local Authority, Clinical Commissioning Groups and NHS Trusts).