How Publishers should deal with digital disruption

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 

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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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Looking back at 2013: 4 trends driving mobile banking adoption

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 

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Is your company Millennial enabled? If not, you could be missing out…

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 

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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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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 

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Are we ready for Agile? Demystifying Agile (Part-2)

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 

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Are we ready for Agile? Demystifying Agile (Part-1)

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 

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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 

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Improving customer experience and the need for customer data management in the utilities sector

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 

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Migrating to EMV standard: A boon in disguise

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. 

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Re-inventing banking: Geospatial adoption drives “New World” business models

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 

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10 key considerations for an Enterprise Gamification initiative

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 

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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 

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Operational risk is a Data issue

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 

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Flipping a secure portal: Getting the most user experience for the buck

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. 

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A hybrid approach to outsourcing: the role of close-proximity development centers

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 

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