Mobility – A New Way to Interconnect

To expand business today, digital operations play a huge role. Companies are increasingly adopting new, automated digital technologies ranging from interactive websites, eCommerce, customer-facing apps, to online marketing strategies. Mobile app development is a recent innovation that can transform a business tremendously. One of the most disruptive, however, is enterprise mobility. Creating a virtual workspace wherein all the users can connect on the same platform is now possible due to mobility. Irrespective of the geographical regions and global vigilance, mobility solutions provide freedom to communicate in every way.  

Importance of mobility

Many companies are now allowing their employees to work in remote areas with the help of their computer gadgets that are connected through the cloud. In this context, enterprise mobility services are now offering enterprise mobility solutions to businesses.

Enterprise Mobility Solutions (EMS) – making a right choice 

1.The enterprise mobility solutions help in facilitating and streamlining communication with remote company employees by providing them with access to all of the company’s resources and data that are traditionally available on the company's own devices.

2.The EMS’ offer employees access to company’s real-time data at any time, from anywhere resulting in increase in the productivity of the overall company.

3.It helps reduce the dependency of the paperwork and diverting more toward the digital platforms for multiple operations. Also, utilizing an enterprise mobility solution gives limited chances of loss of information compared to manual work.

Enterprise mobility strategies differ from one business to another. Most solutions are only for data protection, and others are for unique software backup, and a few others are for full system backup.

In terms of security, identification and access management is also an important factor of an enterprise mobility solution.

Need for mobility

Incorporating enterprise mobility solutions for every business ensures each organization gets a well-structured and maintained mobile infrastructure. To ensure executive ownership, EMS should be included in the strategic roadmap of the organization.

Enterprise mobility solutions can be adopted by businesses of all sizes and across every sector. It will also prove a fruitful one for many businesses that have long been operating offsite but haven’t had strategies in place to do so efficiently.

Implementing Enterprise Mobility Solutions (EMS)

Imbibing Enterprise Mobility Solutions (EMS) helps spread Bring-Your-Own-Device (BYOD) culture far and wide.

There is a significant surge in the growth of the “Bring-Your-Own-Device” movement in the workplace, supported by a variety of business organizations. BYOD culture has helped to improve the morale of employers and staff, thus increasing their company competitiveness.

Following examples state how important EMS can be to leverage technology into tech-businesses:

Development of Artificial Intelligence (AI)

Artificial Intelligence (AI) is gaining immense prominence in the global business world as corporate companies like Apple, Amazon, and Google are turning their attention to greater use of AI technology. AI-based security is becoming a gamechanger to create a safe environment for the growth of the BYOD trend.

Innovations powdered by the Internet of Things (IoT)

The continuous development of the Internet of Things (IoT) and its application in different parts of the corporate organizational structure would soon exceed the age of smartphones. In the coming years, it is expected that the IoT-connected devices would include other smartphones, desktops, laptops, and smartwatches via Wi-Fi connections.

Increased popularity of chatbots

In the coming years, the use of chatbots will continue to grow as it ensures the satisfaction of the user, and businesses will benefit greatly from it. Chatbots make it simpler for the company to answer the customer’s queries instantly. Therefore, complaints and demands concerning approval of payments, appointments, and any other details can be provided to customers while ensuring consistency and reliability. 

In the coming years, chatbots should be used as a form of inter-departmental contact between different teams within the organization–thereby helping increase the efficiency of projects. 

To learn more about how EMS can prove to be a versatile factor for advancing the company standards, please click here Mobility Demand

FINTECH- Changing your banking needs

What is Fintech? The first question that arises when someone at a technology conference starts talking about integration of technology into the finance domain. 

Fintech is a combination of technology and traditional banking systems to provide better services to end-users. An end-user can be consumer or business, however, fintech over the last decade has evolved to provide services outside the banking domain that influenced the banking sector. 

Traditional banking organizations need to realize that where the consumer is, they need to have their products there. 

So how is fintech influencing consumer decision making? Fintech is currently fueled by mobile technology supported by other digital entities like AI, data analytics, IoT, Blockchain, and other innovative technologies.

So which are the areas Fintech is influencing the most in traditional banking?

1. Improving customer experience 

Customer experience is the first focus for any business scenario that needs to be influenced by technology. Fintech offers 24/7 access to banking services that can be availed using all the latest digital channels that include social media, Internet, Mobility, etc. 

2. Access to solutions

The ever-growing need for one-tap banking services is influencing the decision making of consumers. So if you want your consumer to spend more and use your channel more, you will need to entice them with new and improved offerings. Fintech solutions have started to develop highly effective and defined solutions for banks that have managed to step in and take over those segments, which were earlier neglected by banks in the services. 

It’s clear now that the future generation of banking won’t be known only by bankers, financial advisors or banking regulators. Butit would be known by who took the risk today of developing a tool for tomorrow. 

Siloed banking systems will soon become redundant and will completely be replaced by modern cloud-based systems. It will be fueled with data, customer experience, and new innovation of technology developed by businesses.  

  

Fintech Demand, a complete financial technology knowledge pool consisting of the latest whitepapers from the top 50 fintech organizations, insights on technology, and trending news about the latest technology, influence financial services

Fintech is adjusted between regulations and new technological innovation; the content caters to this new demand. Focusing on the latest technological development  in Bitcoin to new fintech regulations in Singapore, the content caters to all C-level executives. So whether you are a CFO, financial advisors, or financial analyst, Fintech Demand will give you a complete overview of the business happenings. To know more about how fintech has disrupted traditional banking and enticed customers with new offerings, Click here on Finacial Technology

Here are Some Pathbreaking Ideas for Fintech Risk Compliances

The financial technology (Fintech) industry continues to invest in innovations that create exciting new products and support based on customer preferences. The industry is continuously weaving in emerging technologies such as robotics, artificial intelligence, machine learning in fintech products and customer interactions. Consistent with this, the fintech industry requires elevating risk management capabilities. 

Firms that have an interest in becoming a bank or willing to expand their portfolio from basic bank services will be expected to have the right risk and compliance framework. When a risk and compliance framework is implemented effectively by a fintech, it can immensely help in revenue generation and put them in an advantageous position for collaborating with banks and other financial institutions. 

There are too many companies that are still taking the old school approach when it comes to the management of compliance risks. Businesses need to change the strategy and process as per the speed of changing business scenarios.

Following are the ways to handle compliances in a different yet practical way: 

1.Accept a unique compliance strategy

This strategy calls for anticipating industry trends of future across businesses, products, services, and geographies. It will help organizations to create a well-planned compliance management program, which, in turn, will give them a competitive advantage.

2.Better collaboration

Those who all are involved in the compliance and risk management teams, including the executives and senior managers, have to collaborate. There should be an automated workflow in place to deal with the complete compliance process. The workflow is typically created by compliance risk management and development teams. 

3. Technology and tools

The right combination of tools and technology and best practices can make the compliance method more effective. Since there are many tools and technologies available for a user’s access; it is not difficult to remain ahead. An efficient approach for managing compliance risks is to use tools that help in extracting data and suggest you the right steps. 

4.Structure to manage compliance risk

One conceptual way to improve the way you manage compliance risks is to build a framework and methodology for the assessment of risks. The framework should be comprehensive and customizable. It should consist of a set of guidelines and policies that discusses ways in which an organization abides by the compliance regulations. Also, the set of guidelines should be developed by risk and compliance management teams. 

5.Risk management process throughout

The two major terms of risk and compliance should be integrated into a complete risk management process. The process must include all the activities related to risk management and compliance. Also, it should constitute a framework that can be leveraged to assess an organization’s exposure to risk. Ultimately, the framework and process help in making timely and well-informed decisions. 

Employees ranging from senior managers to risk practitioners should be a part of this process. To initiate, establish a risk structure that tunes in with your organization’s structure. 

6.Training and development

For the entire enterprise to be on the same page, the leaders should communicate procedures and guidelines. It is imperative that training help makes everyone aware of the laws, regulations, and also the company policies. Also, periodic checks should be conducted to make sure that people are taking a strict note of the rules. 

Forward-looking approach

As the Fintech industry evolves, the finance firms will face challenges, which will, eventually make it difficult making risk and compliance framework even more complex for the business operations. There can also be limitations related to capital and manpower, but fintechs can respond effectively by establishing an effective risk framework that helps enable their operating model. 

For more information and paraphernalia on fintech and their risk and compliance strategies, you may find some relevant data here Risk & compliance latest whitepapers