Banks, for the most part, have realized the importance of mobile as a channel. Across the globe, empowered executives are being appointed to head up digital channel programs. Their primary mission: define and implement the mobile banking channel and seamlessly integrate it with the other major digital channels—online banking.
For the most part, they have focused their strategies on ”forklifting” online banking features to mobile without worrying much about mobile payments. However, the new reality of channel migration is a bit more complicated: the merger of virtual and digital channels in this new age of ”omnichannel banking” is bringing digital channels into bank branches, customer homes, and places of business, and transforming the world of payments and commerce.
So, how is the omnichannel reality affecting the world of payments, and why should banks care (aside from the fact that payments-related revenues can account for up to 25 percent of total retail banking revenues)?
Most of us are familiar with mobile apps that allow us, when in a retail store, to scan a product bar code, access online reviews, and potentially buy the product from Amazon.com (or a nearby retailer) at a discounted price. This capability is the new reality (and challenge) of omnichannel in the retail world. Such changes, however, will not end here: imagine receiving offers, digital coupons, credit card loyalty points, and more on your cell phone so that you can seamlessly apply them to your purchases when paying with your mobile device upon checkout (at the physical store or online).
The promise of connecting mobile payments and commerce through new capabilities embedded in the mobile wallet is real, and several mobile-wallet providers have emerged, including a number of non-financial-services players (telcos, tech companies, retailers, and others). Read More »
Tags: Cisco, digital banking, digital channels, e-commerce, IBSG, mobile banking, mobile payments, omnichannel, omnichannel banking, omnichannel branch, online banking, payments, social payments
Data Centres are evolving rapidly, in response to the many industry IT Megatrends we have previously discussed. Services and applications are increasingly being delivered from very large data centres and, increasingly, from hybrid and public clouds too.
Specifically, a good example of services being delivered from data centres is Hosted Desktops. I discussed in my last post how technologies such as TrustSec can help secure VXI/VDI deployments. VXI is a good example of a service originally delivered only from private data centres, now being delivered As A Service as well.
Video is (and will be) increasingly delivered from data centers as a service. Infrastructure services (servers/VM, storage…) are also delivered internally more and more through Private Clouds.
Consequently, securing those environments is now perceived by our customers CTOs and architects, as the biggest barrier to adopting clouds on a much larger scale.
We will therefore look at how TrustSec can pervasively help secure all data centre traffic. Read More »
Tags: Cisco, Data Center Traffic, Megatrends, Server segmentation, TrustSec, vdi, vxi
Technology has and will continue to be a key enabler across every product delivery channel within the financial services sector. You simply need to explore some of the newer bank branches, available applications within app stores or investigate online innovations inherent in many institutions’ web presence to see how engrained technology has become in the customer experience. While firms are making this transition in differentiated form factors and across different channels, the trend itself is clear and pervasive; underpinned by the “anywhere, anytime” mantra and the continued consumerization of technology.
These channel developments cut across all products, but all have one common element – enabling improved and increased collaboration between institutions, their clients, businesses and/or consumers to drive accretive revenue. While these developments have and will continue to deliver impressive initial returns, they are largely siloed by either a business unit and/or delivery channel. The true potential value can only be unlocked by enabling a seamless and contextual integration of the physical, direct and mobile channels – the evolution from multi-channel to omnichannel.
The omnichannel model enables the customer to choose how and by what method they want to conduct their business, be that in person, via a mobile device, from the home, online or with telephony. Cisco’s IBSG team has published a white paper that looks into the transformation of institutions from multi-channel to omnichannel. While the method of communication is important, the true differentiator in transformational channel evolution is the ability to integrate interaction. Institutions must be aware of the context and outcomes of customer interactions as customers move from channel to channel, product to product, or business line to business line.
From an institutional point of view, the value in the omnichannel impacts multiple factors. Read More »
Tags: Cisco, collaboration, customer experience, Financial Services, insurance, omnichannel, remote expert, retail banking
As Cisco Marketing Velocity wrapped up in Cannes last week, Sherri Liebo, Cisco’s vice president, global partner marketing, offered a final takeaway and call to action to the 200 Cisco partners in attendance.
Repeat: “What I say and do differently on Monday.”
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Tags: Cisco, Marketing Velocity, partner, revenue marketing, Sherri Liebo, WISDOM
Virtual meetings have become an increasingly important part of the workday. Companies rely on technology such as video and web conferencing to help geographically distributed teams collaborate and be more productive.
The common denominator in all of these virtual meetings is the conference call. It’s a fact that the quality of the audio usually dictates the quality of the meeting. Think about how many times people complain about the audio breaking up, being too loud or too soft, or simply asking to repeat questions or points discussed because the voice quality is just not good enough?
New Cisco Unified IP Conference Phone 8831
The new Cisco Unified IP Conference Phone 8831 – a new phone purpose-built for the conference room – solves many of these audio challenges. Now, each user joining a meeting can expect the best possible meeting experience, with high quality audio that is akin to being in the room itself. The traditional definition of a meeting has changed, and with it, the tools needed to have a successful meeting experience must evolve as well.
As anyone who has led a meeting knows, the key to a successful meeting is engagement. But employees won’t speak up and engage if they’re frustrated by the meeting experience – if they can’t hear others or aren’t being heard if they speak up themselves. Large meetings can sometimes suffer from a lack of productivity and results because of this lack of participation.
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Tags: Cisco, collaboration, Revolabs, unified communications