A well-defined set of business requirements is the foundation for a successful software development. Absence of an effective requirement definition may lead to various project related risks that prevent one from achieving the desired business outcomes. Therefore the utmost importance must be given to the requirement definition phase. Various metrics and methods have been designed
2015 is expected to be an exciting, if not challenging year for the financial services industry. The banks have improved profitability by shedding expenses and increased lending. This improvement has come despite the costs of regulatory compliance, as well as the legal costs for past failures. Many banks have spent the last several years improving
Lately, we’re buzzing about how millennials will adapt to the future of the health care delivery system. Many millennials have implemented new age health habits, such as eating locally sourced food and adopting trendy workout routines. Although millennials are a health-conscious generation, their fellow generational groups are still paying the doctor a visit every time
The pace of disruption in banking continues on a near weekly basis, creating challenges for banks to retain front of mindshare, and preserve and retain their customer base. Consumer banks are threatened in nearly every traditional product area from upstarts and more nimble competitors, to non-bank players that are disrupting the traditional interaction model between
The Internet of Things (IoT) introduces difficult questions: How can someone manage all of his or her devices? A unified user interface? Are different companies and industries ready to standardize? What is the potential commercial value for IoT? How will we manage security and safety? Software compatibility? Most industry forecasters agree that the Internet of
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
The deployment of Alternate or Omni Channel Solutions in Banking, Financial Services and Insurance (BFSI) is not intended just for selling services or products, but also for elevating the customer experience. Often a customer may want to buy or subscribe to a certain product that may not be aligned with his or her needs. It
The increased use of data analytics and business intelligence is one of the most popular paradigm shifts we have seen in the industry recently. The problem is, as data gets spread across disparate forms and platforms, about 80% of the BI effort goes into integrating and extracting data, and only 20% into analysis and presentation.