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
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
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
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
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
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
The outlook for financial services in 2014 – How can organizations achieve transformational change in a limited budgetary reality?
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
In the 1st part of this blog, we emphasized the importance of adopting Agile implementation to move towards seeing its advantages vis a vis the traditional methods. In this blog, we will delve into the measures required to achieving holistic Agile adoption throughout the organization. Agile mindset As competition becomes more intense, there is a
Agile development has been in existence for almost 13 years and has been delivering immense value to organizations. It continuously accentuates on the rapid delivery of customer’s business value and provides the “best bang for the buck”. We witness a lot of frenzy for Agile Implementation. The interest towards the traditional waterfall and iterative models
IT Outsourcing and especially offshoring was originally conceived as a way to save cost through the labour arbitrage offered by low cost economies such as India. Fast forward to today, those low cost geographies have seen costs increase, while at the same time ITO suppliers have built up real capability and expertise. The calibre and
Opportunity lies all around: Two key tips to help you use Level 2 to improve your overall IT Service Management processes
A brief overview of terminology – when we refer to Level 1, we mean “the first level of support” – typically a service or helpdesk of some kind, designed to be the first point of contact a user can have with IT support. Often when organizations decide that they are going to “do” ITIL (a
In the UK the Water industry operates on a geographic basis. If you live in a water company’s supply area, then that company bills you for the supply of fresh water and treatment of waste water. In the electricity and gas industry the retail market is more open and non-geographic, so you can have a
History has shown that financial industry is fraught with stories of fraudulent transactions that have resulted in billions of dollars of losses. According to the Nilson’s November 2011 Report, in 2010 the U.S. credit card and debit card losses totaled roughly $3.56 billion – 47% of the worldwide payment card fraud losses globally that year.
The pride and joy of every business is a loyal customer; one who believes in you, and trusts that he/she will get the best possible value every time he/she uses your services. “Trust” is a very strong and intangible emotion, which eventually translates into long term “Loyalty”; therefore every business has a responsibility to proactively
Enterprises today face a new kind of challenge. A disengaged workforce and a transactional customer base has resulted in productivity loss as well as higher customer churn. Not surprisingly, the Gallup Survey 2013 found that 70% of the workforces is not engaged, which leads to the loss of between $450 and $550 billion per year. The
One of the most fascinating aspects about attending Starwest this year was seeing people from all over the world coming together to discuss quality, not just ‘testing’. I have witnessed this momentum building while interacting with many of the organizations that I work with and was not surprised to see the interest that people have in
Virtusa acquires OSB Consulting: Delivering greater value to insurance and financial services clients
Virtusa extends its current strength in finance transformation (FT) with the acquisition of OSB Consulting LLC, which closed on November 1, 2013. OSB is a New Jersey-based consulting firm specializing in the financial services and insurance domains, including SAP finance capabilities. OSB is focused on helping clients automate their finance & accounting (F&A) processes, reporting
The Basel II framework defined “Operational Risk” as “the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events.” It introduced a capital charge related to this risk. The specific definition of what constitutes that risk differs from institution to institution but is based on potential losses stemming
Envision that you and your team have been tasked with creating, upgrading or migrating a website where your customers can login with their credentials and have a world class user experience. You’re ready to go, but then in your first meeting everyone has a different opinion on what to do and how to get there.
Offshoring and outsourcing service models are continuously evolving as service providers and clients mature. The inclusion of development centers that are in close proximity to client locations as part of the service model is becoming increasingly attractive as service providers adapt to the need to improve their collaboration with client stakeholders, while remaining cost-competitive through