During your morning workout at the gym, a device on your arm measures each step and connects with…your bank. By monitoring your healthy lifestyle, the bank can then arrange a lower rate on your health insurance. Later, when walking toward your office, you notice an apartment for sale in a neighborhood you have been scouting for real estate deals. So you point your smartphone at the building to view an augmented-reality image superimposed on the building. In turn, you see the price, square footage, and a live link to your bank’s virtual mortgage advisor.
These kinds of scenarios could become commonplace, once banks embrace the opportunities of the Internet of Everything (IoE) era. While today’s digital consumers demand experiences that are relevant to their current context, many feel that banks don’t understand their needs. Contextual interactions may be common when buying books or streaming movies, but customers sense a “value gap” with their banks. And many are willing to trust disruptive innovators from outside the traditional realm of financial services to fill this void.
Banks can keep pace with customer demand by adopting IoE-enabled solutions that offer expert advice, value-added services and convenience, whenever and wherever customers need them — and do so securely. Wearables and augmented reality are among the more forward-looking innovations that banks should be exploring today. But there are many other ways for banks to reconnect with customers.
In a recent Cisco survey of banking customers in 12 countries, respondents were extremely receptive to five core IoE-enabled banking solutions centered on advice (virtual financial advice, virtual mortgage advice and automated financial advice) and mobility (branch recognition and mobile payments). Seventy-five percent would move their money to another provider for one or more of the five concepts. In emerging markets, respondents are twice as likely to move their money.
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Tags: analytics, augmented reality, banking, biometrics, CCS, Cisco, Cisco Consulting Services, data, digital, Financial Services, hyper-relevance, innovation, Internet of Everything, internet of things, IoE, Wearables
Be Fearless! That was the theme of an incredible Cisco Women of Impact Conference last week, and like most of the 4,850 people joining from about 80 sites around the world, I came away inspired and energized by all I heard and learned during the day. We came together as women (and men) that wanted to learn, connect and share ideas on how we could personally make a bigger impact. I know I took home many new ideas and many new friendships.
I’m very proud and extremely fortunate to be the EMEAR executive sponsor of Connected Women. The Women of Impact day is one of our key events – designed to provide ideas and insights, help women connect, and encourage them—no, all of us—to reach for more. It’s a powerful reminder of the power of diversity in our business.
So, what does it mean to be fearless?
First of all, it’s about going beyond fear. It’s about recognizing fear when it crops up (and believe me, it will), and then having the courage to set it aside and to move forward, whatever the obstacles. Effective leadership often means stepping into the unknown, disregarding fear and focusing on how you can make an impact.
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Tags: #BeFearless, connected women, women of impact 2015
Powerful technology trends including, social, mobile, cloud, and Big Data are converging, creating unprecedented “digital disruption.” We are in a unique period of time where business and technology leaders have the opportunity to create new value and win market share by leveraging the advantages of a hyper-connected world.
Agile competitors with better business models seemingly emerge overnight. Ingrained ways of thinking and working make changing to an innovative culture painfully slow. Needed talent and resources lie outside the four walls of the organization in a wider ecosystem of capabilities. And while technology challenges abound as we confront the future, people and process changes are even more vexing for most organizations.
So how do executives keep their companies from being added to the growing heap of once venerable brands that didn’t transform fast enough?
It’s not easy.
According to Gartner research, by 2020, 75 percent of companies will be a digital business or will be preparing to become one, yet only 30 percent of these efforts will be successful. The number one reason companies fail to transform is because they don’t re-imagine and reinvent the business from top to bottom before they begin.
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Tags: Cisco, digital business, digital disruption, Digital transformation, IMD, innovation, Internet of Everything, IoE, leadership, research
It was only last November that I wrote about our first Cisco Entrepreneurs in Residence (Cisco EIR) cohort in Europe. I knew then we had started something special – an incubation model that allows Cisco to tap into the immense talent of the European startup community and helps address many of the unique challenges entrepreneurs face in the region. Only a few months into our first European season, our startups have gained significant traction inside Cisco – and are demonstrating potential for strategic relationships and differentiation with us.
With this success in mind, I am pleased to announce we are now accepting applications from startups located in Europe, the Middle East, Africa and Russia (EMEAR) to join our second season cohort in the region. We have partnered with Pioneers once again and are looking forward to announcing the winners on stage at the Pioneers Festival in Vienna in May. Find out more and apply here.
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Tags: Cisco, Cisco EIR, Europe, IoE, IoT, Mala Anand, Pioneer Fest, Smart Cities, startups
Privacy and human rights advocates, technology companies, and trade associations have today called on U.S. political leaders to reform the country’s surveillance laws. We add our voice to those calls. These reforms will help show the world that the U.S. Government is ready to lead the dialogue on global standards of conduct, and wants to further build international trust with citizens – a cornerstone for our industry.
We also see a need for governments to agree on transparent standards of conduct. Building a system with appropriate safeguards and limits will serve both national security objectives and the needs of global commerce. In May 2014, Cisco offered a series of recommendations that support customer confidence in the global internet economy, while respecting the role that governments need to play in ensuring the physical safety and the economic security of their citizens. Governments and industry players need to deliver these outcomes for our future. Cisco is ready to play our part and we believe our peers and colleagues in industry and government are as well.
Tags: national security, security, standards