“My Identity is My Currency”– Banking in the Digital Era
When compared to traditional banks, fintechs have been more successful in engaging with the ‘always on’ consumer of today. Unencumbered by legacy infrastructure, agile fintech firms are more able to...
View ArticleConvergence of Communications and Smart Cities
Remember the “ancient” concept of modern cities that had efficient drainage system, plenteous water supply, organized road connectivity, affordable entertainment and so on? Moving on to today’s digital...
View ArticleCustomer Experience Management – Strengthening customer bonds over the...
Here’s a bold statement: with every interaction between an organization and a customer, the bond between them either strengthens or weakens. While most organizations spend a lot on advertising and...
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Smarter Cities a Revenue Opportunity for Smarter Telcos
The need to innovate business models has never been more pressing for telecom operators. No longer can they be just a distribution channel for connectivity: they need to offer revenue-generating...
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Data Protection and Security – Now a Must Have for Telcos!
Of late, with the new EU General Data Protection Regulation (GDPR), data protection is no longer a luxury for telecom operators. The GDPR is designed to enable and ensure better control and privacy of...
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Connected Technologies Help Cities Address Urban Challenges
FierceMarkets recently launched a new FierceCities Newsletter and Website to provide news and analysis on how connected technologies are helping cities address urban challenges and run more...
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Three places CSPs can look to find new revenue streams
As CSPs get squeezed by the maturing of their core business and non-traditional competitors (such as Over the Top players) stealing value, they are increasingly looking to find new revenue streams....
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How to Avoid “Shiny Thing Syndrome” By Defending and Growing Your Core...
CSPs: Beware of shiny things! And by this, I mean CSPs can spend too much attention on the shiny objects of data monetization and strategic outsourcing and not enough on shoring up their core...
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Operating efficiency and customer satisfaction are not opposites
Plain and simple: today’s customers have high expectations. And your margins are being squeezed. So how do CSPs deliver the quality of service and value customers are demanding while keeping...
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Three Strategies that help address the Omni-channel Imperative
Omni-channel consumers spend between 15%-30% more than their counterparts, according to IDC. So, clearly, they are your target for top-line growth. But what are the strategies that will help you...
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Blurred lines: Pushing the Boundaries of the Customer Experience
Where does your customer experience start and end? If you’re not looking upstream, downstream, and mid-stream for more ways to add value to your customers, you may be missing out on engagement...
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Empowering Retail Associates to Meet the Needs of Empowered Shoppers
Your customers have smart phones. They can look up prices and other retailers to buy from while in your store. So what’s going to keep them from buying elsewhere? The answer is your sales associates....
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The Secret to Becoming Customer Centric: Analytics-driven Customer Engagement...
A recent study conducted by McKinsey and Company highlighted that between 2008 and 2012 loyalty programs offered by retailers in the US increased by 10% per year. However, during the same time these...
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Banks and Telco Convergence: Giving People More Choice and Control
Collaboration between banks and telcos is not a new topic. A 2001 article in Strategy+Business, Why Banks and Telecoms Must Merge to Surge, talks about the convergence of bank and telecom alliances...
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Priority Seating in Banking
It is well understood that attracting new customers is much more costly than retaining existing customers. In fact, many studies show the cost of attracting new customers is up to 5 or 6 times more...
View ArticleFive Steps for Creating More Value for your Digitally Empowered Customers
This is the fourth and final blog in the customer journey blog series I have been writing. The first blog, Disrupt or be disrupted, talked about the need for organizations to focus their business...
View ArticleNow, It’s Personal: A New Way Of Thinking About Personalized Banking
What does personalization mean when you’re a bank? From the bank’s point of view, personalized banking means micro-segmenting customers so you can know which ones to serve up specific offers or...
View ArticleGetting a Seat at The Table: Five Reasons the CFO should be Involved in...
In today’s digital world, CFOs can feel like they are on the outside looking in. Others in the C-Suite can see you as a reducer–of risk and costs. But the CFO in today’s world actually has a larger...
View ArticleNew Year’s Resolutions for the Banking CIO
As the year closes, it’s that time again. No, not for ugly sweater and mulled wine parties, or Boxing Day. It’s New Year’s resolution time, when banking and financial service CIOs look back at their...
View ArticleDelivering superior customer experience is not a cakewalk, but a well-rounded...
The inspiration for this blog post came from a chance encounter with a veteran in the consulting industry. She mentioned, “The customer’s perception is your reality, and you live and breathe to make...
View ArticleDigital Transformation Strategies in Retail Banking
In 2015, TCS sponsored a research project with IDC to better understand the digital transformation strategies at retail banks and credit unions. IDC conducted in-depth interviews with business and IT...
View ArticleThe only thing constant is change: The need for an agile customer and...
Technology is becoming so infused in our everyday lives that we hardly realize it’s there. Our homes, cars, clothes, devices have embedded sensors that automatically adjust thermostats, drive us where...
View ArticleThe Most Important Thing Retailers Sell: Relevant, Differentiated Experiences
Experiences, both online and in-store, are becoming the most important thing retailers sell. As physical and digital experiences converge, they shape and inform each other in new and exciting ways....
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How will the New Starbucks Rewards Program Impact their Brand?
Starbucks is known for their strong customer-brand connection. With a strong mission statement: To inspire and nurture the human spirit – one person, one cup and one neighborhood at a time, and the...
View ArticleMillennials and the Importance of Being Earnest
Millennials, born from 1977-1995, make up 25% of the population in the U.S. with 80 million members and more than $200 billion in annual buying power. [Source: Barkely Millennial Research] It’s no...
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Leveraging Technology to Serve People’s Needs in Innovative Ways
The pace of technology and the amount of data generated is changing at rates that are impossible to fathom. Have you ever watched ‘Google Search Statistics’ to see the number of searches every second?...
View ArticleCharting a Path to Successful Digital Transformation in Banking
The status quo in retail banking is under attack by digital. New business models, new competitors and unexpected partnerships are emerging on an almost daily basis. Digitally empowered consumers have...
View ArticleHow customer-centric banking operations can build enduring customer...
To be successful in the age of the empowered customer, retail banks must find new ways to build enduring customer relationships. They must cultivate a comprehensive 360° understanding of their...
View ArticleFour Ground Rules to Successfully Breaking Down Data Silos
Data across the enterprise are typically stored in the silos of different business divisions. Data is often further segmented by services, products, and functions. These data silos make it impossible...
View ArticleDelivering Experiences that Keep Customers Engaged
Creating unique and relevant customer experiences across your customers’ end to end journeys is one of the best ways to achieve durable competitive advantage and sustainable growth. Digitally savvy...
View ArticleHow can retail banks capitalize on the Pokémon Go phenomenon
Pokémon Go, an augmented reality app that started out as an April Fool’s joke a few years ago on Google Maps, has turned into the biggest game in US history. With nearly 95 million participants, it...
View ArticleHow an investment in customer intelligence could have yielded great gains for...
In a conversation I had with friends over the weekend, they mentioned that their son had just moved his bank account over to his new wife’s bank. For many, that may be as far as this conversation would...
View ArticleThe TCS New York City Marathon: A Living Lab for the Ever-Changing Consumer...
Being the title sponsor of the TCS New York City Marathon is more than a chance to boost TCS’ presence in a key market. It’s a unique opportunity for us to understand how new technologies can help...
View ArticleA Blueprint for Smart Cities
City administrators are realizing that citizen data, and its intelligent usage is becoming a critical aspect of effective city administration, almost as important to citizens’ welfare schemes as...
View ArticleBrick and Mortar Stores Are Not Going Out of Fashion Any Time Soon
With all the talk about online shopping and news of stores closing, it can appear that brick and mortar stores are doomed. Research, however, shows that people like both for different reasons and 71%...
View ArticleDigital Personas – Is your brand engagement strategy making the right...
Brands and retailers are trying harder than ever to get into the minds of their consumers and answer the ever elusive question with every customer click “What does the consumer want?” . While deciding...
View ArticleTop Because Digital Blogs of 2016
The beginning of the year is a good time to take stock of things, count your hits and misses, evaluate how you fared, and where you stand compared to a year ago. Even as we look at the year ahead with...
View ArticleFabletics – Exercising data driven customer insights for an ultimate experience
The rise of multichannel retailing has made delivering a positive and consistent customer experience across all channels essential. Companies usually focus only on touch points, a single interaction or...
View ArticleCustomer Journey Maps – Is your omni-channel investment bridging the customer...
Businesses are investing in omni-channel transformation with the objective to interact with customers wherever they are and whenever they are ready to engage. But is it taking into account the journeys...
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Intelligent Transportation Proof of Concept Improves Bus Services and Reduces...
The ability to move citizens from one point to another is critical to the vitality of a city. But as cities grow at unprecedented rates, providing efficient and affordable public transportation becomes...
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Branding and Marketing’s Role in the Success of Retail Banks
Enriched customer profiling yields more accurately targeted offers leading to improvement in uptake rate and campaign effectiveness producing increased revenues. Big data analytics are increasingly...
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How Digital Technologies Can Help Banks Rebuild Reputations
How Americans’ view their banks and their faith in the US financial industry changed significantly after the 2008 economic crisis. A survey by Gallup last year revealed only 27% respondents expressing...
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Banking of Things (BoT):- Building a strategy for Banking + IoT
The Internet of Things (IoT) is shaping up to be one of the most prolific and ubiquitous technological revolutions of this century. It is expected to have an enormous impact across all walks of life...
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How retail banks can prevent churn with a deeper understanding of the...
The digital world, woven together by connected networks, has created a culture of constant connections. Consumers have access just about anything they need—anytime, anywhere. The result is that...
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Smart Banks and Dumb Pipes
The recent dynamics introduced in the banking industry by the emergence of financial technology or Fintech players reminds me of the disruptions seen in the telecom industry starting in the late 1990s....
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Empowered Patients + Automated Medical Processes + Intelligence = Smart City...
Complex clinical trials, controlling medical systems downtime, cumbersome regulatory documentation and skillset scarcity are the key pain points that hinder achieving a Smart City with connected...
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Digital Transformation Starts One Step at a Time
As the world continues to embrace digital technologies, consumers’ expectations and demands continue to rise. One industry drives expectations of other industries, and when vendors fail to innovate...
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Fighting churn with Customer Data and Insights
New technologies continue to shape our world, where mobility, constant innovation and disruption have become the new normal. Technology has lowered the barrier for new competitors and fueled increased...
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Why an IT Services Powerhouse Got into the Software Business
Companies in every industry are up against an unprecedented combination of threats. Banks are facing fintechs, retailers are battling born-on-the-web giants and telcos are searching for new paths to...
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Empowered Citizens Expect Better Outcomes – How Smart Cities Must Respond
We’re living in a world of constant connections where customers, consumers and citizens have access to information, products, services and experiences anytime, anywhere. The result is that they are...
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