Modified on by DiLabrien
Disruption. That’s the new term for big change that comes to industries as a result of technology. Consider just the changes in communication and services as a result of technology. The internet, smartphones, social media, education, entertainment and beyond, have all changed dramatically in the last decade, showing how technology marches on at an incredible pace.
Disruption in the financial services industry was inevitable. And it is upon us in major ways. What we witnessed in 1998, with the founding of PayPal, we are now seeing on a huge scale, with banking, investments, lending and insurance affected by huge disruptions that are being embraced as quickly as they come. As both financial service providers and consumers look to the near future, here is what to expect.
1. Fintech becomes a solution for the little guy
Traditionally, only investors with deep pockets could enter the banking and financial services industry. This is no longer the case. Lean start-ups, focusing on specific areas of financial services, do not need the kind of money that traditional institutions needed and are eating away at the market share that were traditionally the monopolies of large financial institutions.
Pushing this along, obviously, was the financial crisis of 2008 – people lost their trust in the big banks and welcomed new and innovative services that allowed them to have more personal control and choice.
Everything from transferring money to buying insurance, investing to bank accounts, even getting a mortgage loan can now be accomplished online through companies that do not have the large overheads that traditional institutions do. All they need is talent, and there is plenty of that.
And consumers love this new form of “shopping” for services, especially because they can compare all in one place. In a recent PwC Global study, respondents from traditional financial service institutions stated that by 2020, they expect to lose 25% of their business to FinTech enterprises.
2. Matching investors with those in need of capital
Time was, if an individual needed venture capital, they had two choices – family or traditional banks. The problem with traditional lending institutions was a lack of access unless all “hoops” were jumped through and all conditions met; as an industry, moreover, large institutions enjoyed a concentration of power and, often, a lack of transparency.
To compete with the venture capital industry, savvy disruptors created crowdfunding platforms and what is known as equity crowdfunding. In the former, smaller investors can contribute to a start-up venture with the anticipation of receiving a payback at interest. The latter involves individual investors putting up money for an equity position in the new venture.
Peer-to-peer lending models include such companies as Indiegogo and Kickstarter in the U.S. and Crowdcube and Seedrs in the UK. Additionally, larger companies, like Barclays and Accenture, have been attempting to find new and innovative financial solutions through acquisition, reducing the risk potential or need to conduct the research themselves. Smaller market infrastructure firms such as NEX. NEX have been successful in competing with the larger venture capital institutions and banks by partnering with growing fintech companies.
3. Data science
Data analytics have come a long way. From e-commerce businesses tracking who comes to their websites and what pages they visit and how many move into the buying funnel, technology has moved to the collection of huge amounts of data about consumers and their behaviours. From those aggregate collections, sorting that data into information that large institutions can use to make decisions about what products they offer, to whom they offer those product to, and even when they make such offerings.
This has meant a big paradigm shift from focus on products, to focus on consumers and what they want and value. Financial services institutions that use big data to drive their decisions will win the competitive race in the long run.
4. Investments – more consumer participation
Financial investment services have traditionally lain with brokerage houses and financial advisors who evaluate personal investors’ finances and make recommendations regarding investments. Then along came “day traders” who thought they could compete with the “big boys,” cut out the middleman, and make their own fortunes. In most cases, this was disastrous – they just did not have access to the research and information that the career professionals did. And, again, like banks, these career pros had a monopoly on bringing individual investors into the markets.
The mystique is now gone, and individual consumers are demanding the same information that the investment services industry has and getting it. They are also demanding personal participation in investment decisions and their own asset management. Digital robo-advisors hit the scene, and brokerage houses and investment counselors were caught off guard.
Investment institutions will have to make the change to more user-friendly platforms if they intend to keep a decent market share.
Charles Schwab realized this earlier than others. It began in the 1970’s as a discount brokerage house, offering cheap trading prices to individual investors. But when disruptors like Wealthfront and FutureAdvisor came along, the company had a choice – be beaten or change its business model.
They took some time to analyze this robo-adviser disruption and see if it was viable. It was. And so, the company became a FinTech startup itself by launching Schwab Intelligent Portfolio. It was a huge success and today it outperforms other startups.
5. Insurance and IOT
Insurance companies have also become more consumer-driven, given that customers can shop for their insurance needs online and compare products. This of course has forced insurers to modify products and become more competitive. One of the biggest disruptions in the insurance market is the internet of things (IoT). From home and car security devices to remotely controlled temperature and appliance turn-ons and shut-offs, to devices placed on cars to monitor safe-driving habits, insurance companies can use digital information to set individual rates.
6. Public cloud services will streamline banking operations
The more cloud-based computing becomes mainstream, the more comfort financial services institutions will have using it. And SaaS apps are continually improving. As this happens, core activities of financial services will be taken to the cloud and automated. As this continues to occur, the need for people services within company infrastructures will certainly be reduced. It is predicted that by 2020, core functions, such as payments, statements, billings, and even credit scoring/worthiness will no longer require human/manual work. The implications for underwriters alone, in the mortgage lending business for example, are pretty big.
7. Cyber-Security – A continuing risk of increased technology
Executives in the financial services industry continue to worry about security, especially due to the increase in the use of mobile devices and IoT technologies (particularly older devices that do not have the latest security) on the part of consumers and the potential for cyber criminals to “back door” into their systems. Cloud-based technologies can help some, but are not immune to attacks either.
These are only seven disruptions that technology has brought to the financial services industry. There are more to come – the shift to Asian technological innovations, blockchain technology which is still a bit of a “mystique” to most financial services executives, and the technological advances in the regulatory sector. And there are more to come, for certain. FinTech startups are trying to out-pace traditional institutions. Traditional institutions will need to make decisions to step up their game or to find ways to collaborate with those startups that prove to be successful. If Charles Schwab can do it, so can others.
The financial industry crash in 2008 severely damaged faith in the traditional banks. But even before then, banking and financial transactions had been moving into new digital realms. PayPal had already been around for 10 years, and other virtual wallet systems had begun to pop up too.
Enter Bitcoin in 2009. Developed by an unknown individual or group using the name Satoshi Nakamoto, it is an asset/payment system that uses no intermediary (i.e., a bank) – a peer-to-peer transaction platform that is be fully secure and almost without fees. The concept is that “value” can be virtually exchanged all over the world in a digital environment that does not transmit any sensitive information (e.g., credit card numbers) that could be subject to cybercrime. That “value” can then be converted into any fiat currency on the receiving end, although the value of a Bitcoin would be subject to market volatility, just as currency exchanges can be.
Slow to Catch On
The disruption of cryptocurrency has not been rapid. It’s tough to get individuals and businesses to make a paradigm shift to virtual currency and to understand such things as blockchain technology. But there are many who predict that Bitcoin, and perhaps some other cryptocurrency platforms, will replace the traditional bank card payment system.
We are not there yet – not by a long shot – and there are many “wrinkles” to iron out if this is to happen. But the question is certainly out there. Can Bitcoin replace traditional payment systems? Some say “yes;” others say “no.”
There are certainly arguments to be made that Bitcoin will ultimately replace the fee-based transactions that consumers and merchants use today. Among those are the following:
Government-backed currencies have no limit on the amount of money that can be minted. This can create havoc among monetary systems. Currently Bitcoin has a limit of 21 million, although each coin can be divided in much smaller pieces.
Bitcoin transactions are secure, through blockchain technology which produces an irreversible distributed ledger. Transactions cannot be changed in any way once they have been executed, because the ledger is public.
Some third-party payment processors are “stepping up to the plate” to assist with reducing the volatility of exchange rates and locking in value at the time of transaction and providing for instant processing at that locked-in rate.
Merchants will find it too attractive not to get “on board,” considering the drastically reduced transaction fees, and business-to-business transactions will be far more efficient and streamlined.
There are some hurdles, such as too much power in the hands of a relatively few number of “miners” (individuals who maintain the ledgers) and inevitable regulations, but these can be navigated and resolved in time.
In looking at those hurdles, along with some other factors that keep legacy payment processing the preferred transaction methodology, many believe that bitcoin will take its place for certain demographics but will not replace the use of bank cards, money transfers, and letters of credit that still constitute the vast majority of transactions. Here are their arguments.
The average merchant would have to develop a technical savviness that he is probably not prone to want to do. Bitcoin transactions do not have the support structure that bank card processing has, and merchants would have to create and manage their own digital Bitcoin wallets, in order to accept funds and convert them to fiat currencies.
Traditional payment processors are getting much better with what they do, especially considering the competition out there. Most payment gateway services are providing the streamlining, the lowered transaction fees, and the support that merchants want and need. And they are beefing up security measures by leaps and bounds today.
Merchants who use Bitcoin will still need some processing support, from providers such as Stripe, PayPal, or others that are now in the business – processors who are able to lock in exchange rates at the point of transaction. For example, if a merchant were to accept Bitcoin that is currently worth $1500 U.S., but the value had dropped to $1200 by the time he exchanges that Bitcoin for USD, then he is out $300. The lowered transaction fee is worthless at that point. Using a processor to convert the Bitcoin to a fiat currency at the time of payment processing will be essential, and that actually adds another step to the whole process. It’s just not the maximum efficiency that most merchants want.
There are also problems on the consumer side of Bitcoin transactions. Online purchases using credit cards come with certain risks. The merchant could be fraudulent; ordered products may not be received. Exchanges and refund requests are commonplace transactions. These are currently handled pretty well when normal bank cards are used for purchasing. Refunds can be directly credited to a personal credit card account. And, if there is a dispute, the credit card company acts to resolve it.
Bitcoin transactions are irreversible. There is no process for disputing a charge or getting a refund, except directly through the merchant. And these are not always successful, particularly if the merchant is unprincipled or simply disputes the consumer’s claim. Where is the consumer recourse? Currently, it is non-existent. There are no consumer protections in place. Even if they were to be put into place, they would have to be managed by a processor divorced from Bitcoin itself. In this case, that processor is still in business, not replaced.
It’s still out, obviously. Predictions as early as 2014 stated that bitcoin would replace legacy financial transactions, for merchants and even for individual consumers. That has not happened.
For the near term, fiat currency exchanges, traditional bankcard transactions and processing, and consumer purchasing protections are strongly in place with legacy systems. People are comfortable with their systems, and Bitcoin still holds a mystique that is difficult for both merchants and consumers to fully grasp. It still seems a little bit like “fake money” to many. And change comes slowly.
But no one should discount the ability of Bitcoin to evolve and to take its place within the payment processing industry. The security it offers, as well blockchain technology and lower fees, all provide an attractive alternative to traditional processing through banks and legacy payment processors.
On the other hand, in its current environment, Bitcoin will have to rely on traditional processors that have the ability to lock in exchange rates and to ensure that both merchants and consumers are afforded the protections they need. Only time will tell. For the moment, traditional payment processors are still in business.
Modified on by CreativeWorks
This is An IBM Redpaper publication
This IBM® Redpaper™ publication is a comprehensive guide that covers the IBM Power System™ S822LC for High Performance Computing (HPC) server (8335-GTB model). The S822LC for HPC server is designed for high-performance computing applications that support the Linux operating system and high-performance data analytics, the enterprise data center, and accelerated cloud deployments.
This paper introduces the major innovative S822LC for HPC server features and their relevant functions:
- Powerful IBM POWER8® processors that offer 16 cores at 3.259 GHz with 3.857 GHz turbo performance or 20 cores at 2.860 GHz with 3.492 GHz turbo
- A 19-inch rack-mount 2U configuration
- NVIDIA NVLink technology for exceptional processor-to-accelerator intercommunication
- Four dedicated connectors for the NVIDIA Tesla P100 GPU
This publication is for professionals who want to acquire a better understanding of IBM Power Systems products and is intended for the following audience:
This paper expands the set of IBM Power Systems documentation by providing a desktop reference that offers a detailed technical description of the S822LC for HPC server.
This paper does not replace the latest marketing materials and configuration tools. It is intended as an additional source of information that, together with existing sources, can be used to enhance your knowledge of IBM server solutions."
Below, you can read a review which includes more details about one of our clients from Sales and marketing professionals
In today’s world, social media is becoming more and more relevant by the day. With billions logging into Twitter, Facebook, Snapchat, Whatsapp, Instagram and many more every single day the business and marketing opportunities of the sites are endless. People using these sites to gain publicity for their business or their own personal brand have been able to make huge amounts of money by using the convenient format for placing advertisements and their own personal content. As a result of this movement, there are many services on the internet which can be used to increase your social media presence quickly and without having to put in any hard work in order to try and reap the rewards. This may be very risky as it is likely to look very obvious that you have done so but there are certainly positives to using a service such as this to gain thousands of followers and kick start your career.
The effort required
Creating interesting content or growing a successful and exciting business are extremely difficult thing to do. This means that only very few people manage to find a niche online as social media personalities or online businesses which become successful and widely used by the public. Whilst it may not be as honest as using your own ingenuity to come up with great ideas to use on social media platforms, it is far quicker. Using services online where you can simply pay money for Facebook likes or Twitter follows for your personal or business channel is potentially a very quick way to gain a large number of followers. This will therefore quickly increase the amount of exposure you get and will hopefully increase the number of followers you will be able to amass from there on in. This can cut down dramatically on months or years of struggling to get people on the internet to notice you.
The investment made
Making content that is going to grab people’s attention on social media doesn’t come cheap. With millions of viewing options online, there has to be something specific about the message you are creating if you are a new online presence and you want to get people to notice you. Using an instant famous scheme, however, can circumnavigate this problem however as your increased exposure will already have come from a small investment with a company for followers, rather than spending a lot of money on making potentially unsuccessful content to attract people to what you are trying to do.
Social media can be a goldmine
Using social media in the right way can bring an individual or new business huge amount of money and exposure very quickly. Those with large followings on platforms such as Instagram can be paid thousands per post for simply taking photos with products from businesses who want their product exposed on a wider stage. This brings about opportunities to earn huge money from simply having a large following; something that can be greatly helped by the use of instant famous social media schemes. Businesses also can attract higher profile personalities to work with them simply because they have a large social media presence. This allows entrepreneurs to grow into hugely successful individuals or to take their ideas and transform them into a great business, all because they were able to quickly find followers.
Having more followers will lead you to greater advertising opportunities. On social media, there are always people looking for spaces to sell advertising and if you are a presence with a large following already you may have access to some of the most premium advertising spots on the internet. At the beginning, these may be too expensive but if you can take advantage of your quick growth then your bank account should grow and you would then be able to afford the best advertising opportunities possible for your idea or brand. This would then further increase your exposure and let you take your idea even further.
When you are perceived as someone who is successful then you will be granted with a wider range of opportunities for whatever it is you are seen to be growing. This may not happen instantly but after the initial investment and careful management you could hugely increase your online footprint and work yourself into a host of other possible opportunities. Whether they are advertising based or possible investment opportunities in other growing social media presences. The chances you will be given should give you the best possible chance of growing even further and allowing more development of your personal or professional brand. If people see you as a great investment they may even interact with you that way and this could help boost your followers up even further than you ever thought.
Modified on by CreativeWorks
This is An IBM Redpaper publication
IBM® Tivoli® Access Manager for Enterprise Single Sign-On enables users to access all their applications, including web, desktop and heritage, and network resources, with the use of a single strong password. The solution helps simplify password management, protects information with strong authentication, and secures kiosks and shared workstations.
Tivoli Access Manager for Enterprise Single Sign-On helps strengthen security and meet regulations through stronger passwords and an open authentication device interface with a wide choice of strong authentication factors. It also facilitates compliance with privacy and security regulations by leveraging centralized auditing and reporting capabilities.
In this IBM Redpaper™, we take a closer look at how to integrate web-based applications into Tivoli Access Manager for Enterprise Single Sign-On by using its AccessProfile technology.
This IBM Redpaper is a good resource for security administrators who are responsible for configuring and integrating Tivoli Access Manager for Enterprise Single Sign-On into their organization's IT infrastructure."
Here are a few good points you need to take in serious when you try to approach space communities like IBM developers platform.
Communication is an essential skill required invariably to acquire success in any field of like. Writing is again one the most effective communicating modes which plays commanding role in business. Effective, thoughtful and clear writing for managers, entrepreneurs or business professionals can enhance potential scopes of success, better grip over the market and good network.
You can actually never undermine the fact that clear writing reflects clarity of thinking. However, not everyone is born with the power packed communicating skill of impressive and nailing writing skills. At the same time as Bryan Garner, the author of The HBR Guide to Better Business Writing believes everyone has the scope and capacity for improvement. Thus, you can essentially improve your business-oriented writing skills with an effective implication of few strategic movements and tips.
Determining your purpose essentially means collecting your thoughts, understanding the purpose of the business writing. While you write a business mail it can be dedicated to several purposes. Like for example if your purpose is to call your employees for annual talent hunt, then it is not desirous that you bore them describing the activities, its utility in team building efforts etc. You need to be relaxed yet professional in tone. Therefore, understand what to you want to convey to your audience through the writing. It is kind of directional thinking to obtain clarity of thoughts. Therefore, you can frame your writing accordingly once you determine your purpose that is:
- To invite
- To persuade
- To inform
- To notify
- To reject a proposition
- To argue for a proposition
- To Inquire
- To seek for approval, etc.
Cut it Short and be Direct
No one has time for reading lengthy paragraphs and phrases when you are dealing in serious business. You need to pinpoint your purpose of writing in the first paragraph itself instead of dragging to the mid of the writing. Postponing the revealing of the purpose to the middle of writing loses the attention of the reader. While injecting the purpose right in the top of the writing you actually purposefully sharpen your argument as well.
Moreover, while framing business writing it is highly recommended to cut off the unnecessary ornamentations and fat in writing. Like, opt for “viewpoint” rather than “point of view”, skip the use of is, are, was, were and use active verbs instead like for instance “indicates” rather than “is indicative of”. You can also essentially avoid the use of ion words with action verbs.
Do not Jargon your write up
Intelligence reflects in simple words as well only if you can clarify your thoughts, nail in your perspective. There is no need of using too much of buzzwords, acronyms and grandiose words. Complicated writing, as well as too much use of acronyms, implicates laziness of mind. Thus it is better to express in simple, easy to understand and direct language and communicative style rather than going other ways. Business writing experts essentially believe that clarity and active conciseness never go out of style in any field of action.
Your website domain name is one of the most important pieces of your business. This essential component is greater than the different parts that comprise it: Websites, email addresses, etc. The overall domain is the core of your brand’s digital presence. As such, it must be defended and protected throughout its lifetime. Risks such as hijackers, spammers, and domain registrars seizing control are all factors to be wary of as you work to protect the health of your website domain.
One of the biggest contributing factors to good domain health is your email sender reputation. Your domain’s registrar will intervene if it notices emails sent from your domain are not reaching inboxes or being marked as spam. Not only will your email service provider block you from access, but your website domain also becomes at risk. The best way to avoid this is to employ an email checker to verify emails.
The risks of a poor sender reputation are as follows.
The Number of Emails You Can Send Will Be Reduced
When an email service provider (ESP) doesn’t recognize the domain sending emails, it will react in multiple fashions, including throttling your email send. This refers to the slowing down and capping of the number of emails that can be sent each day. When a business varies its email send numbers greatly in a short amount of time (e.g. sending thousands one day, hundreds the next), throttling is a common penalty. Timing is an essential part of any marketing campaign, so the consequences of throttling are severe.
Throttling can stem from a poor sender reputation. Your ESP doesn’t recognize your domain because it has been marked as spam too often. By utilizing an email address checker, you can reduce the number of emails that get marked as spam. As a result, your ESP is less likely to mark you as a spammer and instead recognize that you are a legitimate sender. You’ll never have to worry if your email is reaching everyone on your list on the right day and time, or that you’re being marked as an illicit sender.
Your Emails Won’t Make it to Inboxes
A low sender score means your emails aren’t even reaching inboxes. Instead, they’re being marked as spam immediately upon reaching recipient’s mailboxes. Without users able to open and take action on your emails, the overall efficacy of an email marketing campaign greatly declines. This results in a negative impact in all the ways such a campaign can improve business. It means less company awareness, reduced brand engagement, and lost ROI as the ability to convert greatly declines.
Maintaining your sender reputation begins with an email tester. Using such a tool as a way to check emails and validate them ensures a higher inbox rate and better preservation of your sender score. A sender with a score above 90 has a 92% rate of success in reaching inboxes, versus the 72% success rate of a sender with a score between 71 and 80.
Beyond making it to inboxes, your emails won’t even get delivered if the emails you have are bad or your sender reputation is damaged. With 30% of an email list vulnerable to decay each year, it’s crucial that your business has a system in place to replenish emails and make sure they’re real. The easiest and fastest solution to do so is using an email validator.
Your ESP Will Block You
The most significant consequence of a poor sender reputation is complete inability to send emails from your domain. Every email service provider has different criteria for what defines content as spam, but it is up to you to be aware of what these specifications are and do your best to avoid negative experiences. The last thing you want or need in the midst of a marketing campaign is to be barred from using your email.
Verifying and cleaning your email list is one of the simplest solutions for avoiding a slap on the wrist (or worse) from your ESP. Not only does it ensure that your website domain remains healthy and protected, but also protecting your sender reputation improves the functionality and results of your email marketing strategy. Maintaining email send speed and numbers, increasing inbox rates, and staying on good terms with your ESP are all benefits of a high sender score, and is made easier through the use of an email checker.
In recent years there has been much talk about cloud computing, the cloud, the change this entails in our way of developing and managing our applications ... But what is cloud computing really?
Large companies began using this term to refer to those services hosted on the network. In fact that is the first thing most of us come to mind about "Cloud Computing". Therefore, we can say that the word cloud would be equivalent to what we know as the Internet. However, the concept has much more scope and is something that we intend to relate in this article.
Types of cloud
There are currently 3 types of clouds:
- Public clouds: These are those that are administered by the service provider. The great advantage of them is that they do not require an initial investment to start using them and do not entail a maintenance expense for the consuming customer. These clouds are shared with other customers within the provider's data centers.
- Private clouds: Private clouds, unlike public clouds, are managed by the client to gain greater control. Due to this, it implies an initial investment in the infrastructure since it will be hosted on-premise, ie at the client's premises. As a main advantage, the customer enjoys a cloud of his property where he is the only one who resides in it, although the maintenance costs are borne by the owner.
- Hybrid clouds: Finally we have this intermediate option between the two previous clouds. While they say that this type will be the most widespread in the future, it is not as defined as the rest. The main idea is that the customer will be able to keep control of those main applications and delegate the administration in which they consider secondary.
Types of services
Once you have covered the types of clouds that exist, what can we do with them?
Depending on the need we need to cover, there are different types of services within cloud computing:
- Infrastructure as a Service (IaaS): This type of service offers us the necessary infrastructure to be able to upload our environment and also to run proprietary software on it. The two fundamental pillars are computing and storage as a service. Sometimes they refer to IaaS as HaaS (Hardware as a Service). As examples of this type of services we can mention GoGrid and Amazon EC2 (Elastic Compute Cloud).
- Platform as a Service (PaaS): When we talk about the platform within the cloud, the service we offer is the environment where we can directly deploy our applications. The clearest examples in this section are the Windows Azure platform by Microsoft and Google App Engine .
- Software as a Service (SaaS): The last service, and one of the best known by the market, are those transformed into final applications provided by the provider, ready to be used by customers. In this type of service we are assured the maintenance, the support and the availability of the software. Within this set, we can find Microsoft Business Productivity Online Standard(BPOS) which is a set of well-known applications in its online version like SharePoint Online , Exchange Online , Office Live Meeting and Office Communications Online . Another group of applications within this area would be Salesforce, Known mainly for its CRM in the cloud, and Basecamp where its flagship product is its collaboration tool for projects.
As an advantage of this administration and development model, we can highlight the cost savings as the most important, in addition to the high scalability, reliability, as well as the abstraction of hardware maintenance, something up to now innovative in large companies with its own department ITEM.
One of the concepts that best define the cloud environment is the term "Pay as you go", which means that we only pay for usage and not a monthly fixed fee, such as traditional hosting services.
Lastly, it is worth mentioning the agility with which we have these services, achieving in a matter of minutes a putting into production that could take months, when dealing with the traditional on-premise process.
While it is true that the advantages of cloud computing are worth considering, there are some points that can be crucial when it comes to hitting the cloud:
First, there is the perception of insecurity in moving our information out of our physical reach, which can manifest a sense of vulnerability. To solve this "fear" among potential customers, large cloud companies have efficient, high-security systems to keep data safe from potential attacks.
Another drawback is dependence on an Internet provider. Due to the location of the services, we are tied to this need, so it is advisable to have a second connection in case of failure of the main.
Although less and less, there is still some immaturity in some of the services offered by lack of functionality, in relation to similar products designed to meet these needs in servers within the client.
In this section, we have been able to know the concept of cloud computing as the technological proposal of large companies to refer to the different services hosted on the Internet, as well as the different types of clouds available in the market. In addition we have listed the types of services available to date and how some companies already offer them to the public.
Everyone is familiar with the name IBM (International Business Machines Corporation), but most of them are not familiar with Big Blue. Usually, these two are the same. IBM was formed in the name of the Computing-Tabulating-Recording Company (CTR) back in 1911 and later renamed to IBM in 1924. We all know the history of IBM and their inventions. IBM is currently running their operation in over 170 countries. Most of our necessary gadgets are their invention like hard disk drive, automated teller machine, magnetic stripe card, UPC barcode, SQL programming language, dynamic random-access memory (DRAM), etc.
The market of IBM is huge. They manufacture both software and hardware products. Besides, IBM is one of the largest companies in the world having 380K employees. They are the record holder of having the most patents generated by a business company. Their research wing is very active and their latest invention is IBM Watson. According to many sources, IBM has a plan to bring revolutionary changes in paystub generator sector.
Today we are going to discuss five of their upcoming products.
First of all, IBM is developing a holographic chatting system (also known as 3D Telepresence). The programmers said that they are very close to make this happen. The improvement of 3D camera makes it easier to reach to the common people. The researchers of the University of Arizona successfully made a system that is capable of sending holographic images to nearby locations in time. Besides, it is said that we will be able to enter into personal computers through 3D visualization. Thus, the pictures we see now in 2D, we will be able to see them in 3D.
Secondly, the next item on the list is lithium/air battery project (battery 500). This project is still under development and the results are quite satisfactory. IBM believes that these batteries will be able to use the same air which we breathe to produce energy. The concept is that these batteries will use oxygen and react with the metals. Besides, these batteries will be lightweight and very small in size. Surprisingly, these batteries will last ten times more than our regular lithium-ion battery.
Now the third item is personal sensor for every scientist. The development of personal sensors is really important for the welfare of the people. It is essential for the scientists to collect data and preserve them in a storage. IBM predicts that it will be possible within the next five years to collect all these data and send it to various devices like cell phones, cars, computers, etc. using personal sensors. Persevering these data in huge amount can be resourceful in the coming days.
A smart computer system for drivers is number fourth in the list. IBM believes that we cannot solve the traffic problem only by creating new traffic rules or constructing new roads. There are other circumstances which control our transportation system. The smart computer system for drivers will not only show the best way to travel but also helps us with necessary objectives. This technology is based on mathematical models which analyzes probable values to help the drivers.
Last but not least, IBM is researching to control the temperature of a computer. According to a calculation, 50% of the energy is consumed in CPU (Central Processing Unit) to make the engine cooler. Now IBM wants to use this warm air in a significant way. IBM considers that this warm air can be used to heat various parts of a building or to heat water or convert it to current.
So, which idea seems more important to you? Let us know in the comment section.
The world is becoming an increasingly digital space. Today we manage, share and store our lives online. Data is gathered from our devices, computers and smartphones that collect and transmit information on what we do; but that is just the beginning. This phenomenon is transforming our understanding of the world and our place in it; it’s become known as Big data.
Big data could be invaluable for business. It could provide a window into the lives of customers that we have never previously imagined. But, there is a problem. How do we unravel the strands of Big data and pick out the relevant parts. Data comes from so many sources; how do we know where to look and how do we access it? In short, how do we turn all this information into knowledge? To understand how big data and analytics works, you have to put it in the context of how things worked before Big data.
Businesses are already using Big data to better understand and predict customer behavior and optimize and improve business processes. But the possible applications of big data are endless. We’re only just beginning to see the emergence of the Big data economy. Your business needs to consider Big data or risk being left behind. IBM Big data and analytics specialize in helping companies understand and leverage Big data.
About five years ago something fundamentally changed. The world started getting smarter; cars, running shoes, medical devices even people through our devices and social behaviors started being instrumented. They started creating valuable data. Every time we pick up a smartphone to make a call or send a text, it creates a call detail record. Hundreds of billions of CDR’s are created every day. Enormous and advanced infrastructure like advanced processing power and in-memory capabilities make it possible for telecom operators to analyze the deluge of CDR’s; but for many, the volume is overwhelming.
Fortunately the infrastructure and the software continue to evolve. Advances in data management software like seo toronto make it possible to explore any kind of data while leaving it in its original state. For a telecom operator this means they don’t have to structure the data before getting insights from it. Instead they can put different data in a giant exploration repository and start to do analytics on all sorts of data at rest; both structured and unstructured.
This allows them to discover interesting patterns, developing new insights around key things that matter like their customers. And because the pattern are based on all data; meaning structured data like billing and CDR data, unstructured data like customer tweets and notes from customer service agents, they are developing a holistic picture that helps to define the best course of action.
For a telecom operator worried about customer churn, this means able to proactively reach out to a customer with a compelling offer before they decide to leave. There’s even potential to use a cognitive system in the call center to help guide a company rep in delivering better service. But sometimes thing are moving too fast to rely on human intervention.
Today, IBM is at the forefront; working with a few leading telecom operators to improve the customer experience even further. By knowing where their high valued customers are located, they can detect network bandwidth issues and address them in real time.
Your immune system is always at work; protecting you from a constant barrage of threats. And to combat such diverse threats, your immune system must be equally coordinated to prevent and detect attacks in an orchestrated, fast response. But what if your body was also vulnerable to cyber threats? You’d need a different kind of immune system, but one that still works as a unified whole to disrupt threats at any point of the attack, no matter how advanced they may be.
IBM threat protection system integrates security solutions together, so you can prevent, detect and respond to cyber threats with just the right course of action and without delay. When your security is overloaded, the health of your IT environment is weakened. Disconnected single purpose solutions make it difficult to monitor the whole network and security teams are forced to defend in the dark. That’s why IBM security developed an infrastructure immune system.
In a market flooded with more than 1200 point product vendors, IBM has separated itself by offering leading solutions that work together across your ecosystem. IBM’s expertise and integration enables full collaboration across third party vendors, technology provider and business partners to enhance security while lowering cost and complexity. Unlike the old way of piling on products to combat each new threat, the IBM security immune system grows, adapts and communicates inside your infrastructure.
You get a more holistic view of your security; a connected and organized framework of defense capabilities sharing critical security data. This deliver greater visibility, richer intelligent and actionable insights. Creating an efficient and effective end to end that reduces gaps in your security, the system features a complete set of solutions and services that address three critical aspects of security.
Security transformation services mitigates risks by consolidating fragmented solutions but don’t always speak the same language. With a unified network and around the clock support from trusted experts, you can close the security skills gap, proactively protect your systems and strategically be ready to capitalize on IT trends.
Security operations and response allows you to prevent detect and respond to threats in an orchestrated and automated fashion; powered by cognitive capabilities an IBM x-force threat intelligence. The IBM security immune system senses, identifies and prioritizes known and unknown threats enabling rapid resolution.
Information, risk and protection keeps your data users acts and transactions safe wherever they are. Real-time analytics and alerts helps you pinpoint risks, gain visibility and control over user identities and manage your sensitive data. You can also strengthen compliance initiative, secure applications, improve mobile collaboration and protect your mainframe environment.
Traditional defense in depth tactics can’t keep up with today’s threats. Like that, now the traditional system of checking a car’s information has become far too slow. That’s where vindecoderz.com will help you to check your car’s unique VIN number and all the vital information with it. There is a new way to think about security with an integrated intelligent defense to keep your organization safe; IBM security intelligence and expertise in one framework.
It’s intimidating. You are a solopreneur or a hiring manager for a small non-tech related company, and you have to hire a software developer. You know nothing about the profession, nothing about coding, nothing about the “going rates” or salary ranges. Your understanding of software is, “Show me what it can do, how it runs, and then I’ll use it.”
So, where do you begin? With this guide, perhaps. Here are the steps you might consider.
Identify Exactly What You Want the Developer to Do
Either you have an idea for a piece of software you want to take to market, or your company needs specific software developed for in-house purposes. Your initial job is to decide exactly what you want that software to do.
Is this a “one-shot” deal for a single piece of software, or is this a longer-term deal where a developer will be working for you on a regular or contract basis?
Do Some Basic Research
It’s not difficult to find any number of resource articles on software development, even in the niche related to what you want developed. You can get an idea of the programming languages that are most recommended and popular with developers. You don’t have to understand them – you just need to understand the programming languages you want your hire to know.
You research will also give you solid information on price/salary ranges – certainly a good thing to know.
Finding the Candidates
You have lots of options, so pick the ones that will work for you, perhaps those that have worked in the past. Remember, the process of recruitment and hiring is no different for software developer. It is the skills and expertise that will be unique.
Get help from a techie you know to construct a job posting/description that will include the skills you are looking for – hard and soft. Post the opening on tech job boards, on social media sites like LinkedIn and wherever else you usually do.
Use the services of a tech recruitment firm – this may be pricier, but the initial screening will be done for you
Use contacts that you know and trust. If you have a network of peers, they may be able to point you in the direction of sources for candidates or, if appropriate for your need, freelancers who are really good at what they do.
Software developers currently working for other businesses may not be actively looking, but if the right opportunity comes up, may want to make a change. This is why you want to post your opening on sources like LinkedIn and tech-related social media platforms.
Narrowing the List
This will be tough, but you can look for some very specific things in resumes or perhaps in initial phone or video interviews. Here’s a short checklist of sorts for that initial contact:
Have they contributed to open-source software?
What languages do they feel most comfortable with?
What is their past experience?
Do they have a portfolio and how can you access it?
Do they exhibit confidence in their own strengths and skills?
Have they worked solo and/or as members of a team?
So, now you are ready to interview the few candidates that have made your short list. What do you ask? Based upon surveys of both programmers and even Google hiring managers, here are questions you should and should not ask. You will find that many of them are questions you would ask any candidate.
This you will ask any candidate. Put a specific spin on this. Ask the candidate about his biggest disaster and how he worked through it. If the candidate is honest, she will be able to identify one and then describe how it was “fixed.” Any good programmer will have had disasters. You are looking for honesty and the work ethic to do what it takes to resolve issues.
Ask the candidate to describe his/her favorite project. As a prelude to this question, you want to inform him/her that you are not a techie. The goal here is to see if the candidate can explain the project so that you have a good understanding of what s/he did – in non-techie terms, that is.
Part of a developer’s skill must be in communication and must be the ability to communicate to those outside of the niche what a project is all about and how s/he will go about approaching a project. Even if you are hiring someone remotely, you will want to be a part of the development, and you will want continual conversation with the developer. Being able to communicate that progress to you in terms you can understand is vital.
Solo or Team Player
Depending on your needs, you need to know your candidates’ experience and their comfort level with how they will function for you. Hiring a freelance means that the developer is comfortable working alone but also communicating with members of your organization who will be impacted by that work. Hiring a employee means comfort with collaboration.
Is There Passion?
One of the ways to gauge this is to ask what development communities the candidate is active in. GitHub, for example. Developers who are really passionate spend non-work time communicating and collaborating with other developers.
When the candidate talks about his/her projects, do you sense excitement? You should.
This is where you may need to have someone with expertise take a look at the projects in a developer’s portfolio. As well, just as you do when you hire anyone, you will want to check references, whether from clients or former employers.
It is not a negative for a developer to have had a lot of past employers. This is a career that is in high demand, and they like to go where the challenges (and the money) are more attractive.
Things to Avoid
A lot of recruiters and hiring managers give developer candidates “puzzles” to solve. And non-techie interviewers often pull these from the web or are given them by other developers. Chances are the candidate has already seen them or something similar. They really are not a gauge of talent.
It’s also not a good idea to ask a developer where he sees himself in five years. If they are honest, they won’t actually know, so it is not a fruitful question. Good developers will go where the challenges fit their needs, so that is really the only answer that will make sense.
You really can make a good hire even if you don’t have expertise in technology. Follow this guide, get help when you know you need it, and make a good hire.
In 2007, some computer engineers at IBM began to build Watson. The goal was a machine that could be programmed to locate information in order to answer questions asked of it. They decided that the big “test” would be for Watson to go on the TV show Jeopardy, and win it. That happened in 2011.
Since that time, IBM has made a conscious decision to use Watson in medicine – to have it master a huge body of knowledge related to medical research, diagnosis, and treatment. To that end, Watson is able to read medical journals from all over the world in minutes; it can review patient histories, track drug trials, and present new therapies to medical professionals. And nothing is ever forgotten – in fact, Watson just keeps on learning.
Now, Watson is dabbling in psychology and overall wellness on a very human level. Alex Sass, CEO of PostMood, has developed an app that combines the social media behavior of individuals (specifically, what they post on Facebook), their sleep patterns, daily diaries, and their Fitbit data, feeds all of that into Watson, and comes up with a “mood” indicator on a daily basis, among other things.
Over time, PostMood provides information on volunteers’ basic personality traits and even makes suggestions for improving their general well-being. Such suggestions may be to post more positive messages, to increase exercise, or to get more sleep. More general analyses are also made – is an individual primarily an introvert or an extrovert, for example.
The goal of this app for the individual is to gain insights into their moods and personality, what causes moods to shift from positive to negative, and to “correct” behaviors in order to increase positivity.
The Larger Goal
According to Sass, the app analyzes each individual participant, provides their reports, and hopefully improves their well-being with recommendations.
Such recommendations usually include a thorough analysis of the Facebook content they post and, as well, what they are reading from others. Facebook is also analyzing what they post and view and gives them more of the same. Negativity thus begets negativity, and the mood becomes rather permanent. PostMood takes all of this in and provides a “score” of sorts, allowing the individual to make conscious choices to change Facebook behavior.
The same goes for other the other aspects of analyses conducted by the app – physical exercise, sleep, personality inventories, and more. Participants thus gain valuable insights into how the choices they make impact their moods.
But Sass has bigger goals. He uses Watson to aggregate all of the data that is collected to generate more “global” patterns of behaviors that promote happiness. From all of PostMood’s analyses, he hopes to be able to come up with daily activities that will promote happiness worldwide
How To Participate
Anyone can sign up for free, as long as they are on Facebook and/or Twitter. Bonus point if you have a physical fitness tracking device.
Participants log in daily and their changing moods are recorded for them based upon their own comments, their posts, their fitness data and the amount of sleep they have had. Daily challenges are set for individuals, based on Watson’s analyses.
This project is the first of its kind to record and analyze the mind/body connection, and Watson has been an instrumental piece in all of this. It allows the aggregation of not just individual data but allows scores to be compiled globally. This allows more generalized daily challenges to be set as well.
According to Sass, Watson has analyzed in excess of 10 million social media posts. And because Watson never forgets anything, he can analyze trends in posting on an individual and aggregated basis.
All of this analysis allows Watson and Sass to generate “mindfulness” exercises that will benefit everyone, using the data that Watson aggregates and mood-tracking software developed by Sass.
According to Sass, 45,000+ from all over the world joined last year and almost half of them are now experiencing a rise in their “happiness scores.” And this improvement is not merely subjective. Watson is analyzing their social media posts, their fitness data, and their sleep amounts to get those scores.
Having been analyzing the data for a while now, Sass says that his top tip for happiness is to get more sleep. “We included sleep tracking in our system this year, and those who manage to get a decent level of shuteye seem to have the edge when it comes to also expressing joy, both internally and through their social timelines.
Biggest Project in Human Predictive Analytics
Sass believes that his Human Happiness Project is the largest of its kind outside of the predictive analytics used by businesses to predict consumer behaviors and trends. AI is used to collect data on such things as purchasing preferences and credit worthiness; it is used to present doctors with data than can drive diagnoses and treatments. But this project can provide predictive analysis of what people themselves can do to make themselves happier and more positive.
If you’d like to let PostMood give you a happiness score and get some solid, actionable suggestions for improving your overall well-being, you might want to join this project. Sass has plenty of funding, and it will be long-term and global.
Go to the PostMood site, read a little bit more about the project, and sign yourself up. You really have nothing to lose, and you may gain some valuable insights into both your personality and behaviors that may be keeping you “down.”
Modified on by DiLabrien
Gaming. It begins at a very early age these days. How many early elementary kids are playing “Minecraft?” By the end of 2013, 33 million kids were playing.
Many of those kids are at least 4 years older now, are graduating high school or may be entering college. But their passions for gaming have not decreased. In fact, they are participating in lots of online competition and dream of either professional gaming or, even more ambitious, getting into game development.
Given the popularity of gaming, there will always be work in the gaming industry. For those who specifically want to move into development, there will be some skill training and some work ahead. Here are 8 tips for these passionate gaming development hopefuls.
Choose Your Focus
You have two choices (and a third, actually – more on that later) – the science of gaming (programming) or the art (design).
Designing: You do not need to learn programming languages. But you do need to understand the process by which games are developed. This will allow you to design the “art” side of games, knowing what a developer will need to do. And, if you are a solopreneur in the industry, then you will need to have that design in as much detail as possible before you speak with a developer.
Identify Your Limitations and Account for Them
If design is your focus, and you are great at creating scenes and music, you may not be so good at character development. If you are working for a company, the expertise will be there, and you will work as a team. If you are a freelancer, however, you will need to partner up with someone else.
If you are in the programming side, and you are struggling with some of the coding, you need to know where to get that help. Understanding your limitations and getting that help will demonstrate to an employer that you want to get things right the first time out, rather than having to debug after testers have pointed out the “fails.”
And if you have identified some design or programming skill gaps, get thyself into some gaming design coursework from a reputable institution – either off- or online.
Check Your Passion
Good game development requires passionate people who do not see what they do as real work. For them, it is fun. There are crazy long hours, lots of collaboration with others, disagreements, long discussions over Chinese takeout, creative problem-solving, and flexibility/compromises. Make certain that these are all things you will love, or you will develop resentment – never a good thing.
Check Out Options Other Than Development or Design
You may love gaming, and you may want to be a part of the industry. But you are not really into the art or science of it all. There are other opportunities within the industry. These include such positions as testing, marketing, or even doing voice-overs for characters or contributing the music.
Look for Internships
If you want to work for a company/studio, pursue internships. These are amazing learning experiences, even if you do not end up working for that specific company. Other gaming firms or groups will be far more interested in talking to you if you have an internship under your belt. Some internships are even remote, should you not live in close proximity, and many are actually paid.
If you are on the independent side, you may not like the idea of joining a studio as a regular employee. Studios need lots of expertise and, especially if they are small or in the startup phase, they cannot afford full-time employees. Once you have your skill set, check out job boards and niche publications – there will be many opportunities within your skill area.
If and when you take a gig, be certain that you craft a contract, if the firm/studio does not provide one. Any contract should sell out exactly what you are expected to do, how much you will be paid, and a guarantee that your contribution(s) may be used in your professional portfolio.
Be Careful About Pay Offers
There are lots of “poor” studios out there – people who are passionate about gaming and who have big dreams but no money. They are looking for “desperate” people who have their same passion who they can pay almost nothing. Sometimes they will offer you a small equity position or stock in the company or claim that your work will be a great portfolio addition. These things can be tempting, especially if you are hungry for work, but don’t sell yourself short and don’t work for nothing.
Getting Discouraged – It Comes with the Territory
Expect long dry spells. Of course, if they don’t come, great. But when they do, it is probably not because you lack skills. Competition can be tough, and there just may not be a “fit” between a studio’s need and your skillset.
When you hit dry spells or no nibbles from your job applications, take that time to design or develop on your own, to build up your portfolio, or take additional coursework to add to your skillset.
Find ways to network – attend workshops, conferences, and other meetings. Keep your LinkedIn profile up to date, and join groups on that platform. Participate in online forums and discussions; start a blog; develop some podcasts. There are just many things you can do to keep your name out there and to keep your passion intact.
And, if you have to eat, take an unrelated job. Eventually, you will find a position or “gig,” and you will “get your groove” back.
The gaming industry is exciting and fun. It is also evolving rapidly, as technology continues to improve gaming experiences for players. Keep abreast of these advances – you don’t want to become irrelevant.
Bluemix is a cloud platform powered by the world’s most popular open source project. Bluemix is here to help you efficiently develop applications in your way; simplifying how you build and manage them in the cloud. Bluemix let you choose your own programing language; work with your own architecture and make your own design choices.
IBM has changed the way applications are delivered. Making cloud more accessible than ever with Bluemix. IBM Bluemix is a cloud platform as a service developed by IBM. Bluemix allows you to easily extend and enrich the functionalities of your applications with services and API’s from both IBM and third parties that are based on the world’s most powerful open-source technologies to pair your applications.
Bluemix takes care of the infrastructure come with over 100 services to choose from ranging from Watson, IoT, Analytics, API creation management and integration; concerned about provisioning licensing and other time consuming issues. Bluemix’s immediately deployable technologies include push notifications, SQL and NoSQL Database, messaging, security and more. You can easily augment applications with Bluemix’s ground-breaking cognitive learning machine Watson as well as other leading AI services. These services come from both IBM and its community partners.
Bluemix is designed to accelerate innovation tapping into your current cloud environment and delivering more engaging solutions. Since the inception of Bluemix we have seen a huge market response from startups to enterprise corporate clients like SilverHook, Tangerine bank, Hertz car rental, IQ, Capgemini, Volvo, Honda, Citibank and many more.
Bluemix is designed with choice of deployment in mind; even the suit the most sensitive workloads. Bluemix Public allows the user to experience and tap into a world of services across Watson like mobile and IoT in our public cloud environment. IBM Blumix technology could be a leverage in Adwords scripts. Blumix dedicated offers superior combination of security and time to value in a cloud environment which feels like an extension of your own data center. For your very sensitive workloads for data compliance you can bring Bluemix behind your firewall with the markets first of its kind approach private cloud delivery.
Bluemix was designed with speed and ease in mind; it makes life easier for the developer and the entire development team. With Bluemix we provide teams of all sizes with a flexibility to scale computers at a very granular level, seamlessly collaborate in source code, share API’s and manage apps performance logs and costs through a single console.
Developing an application is easy, but deploying ab application is even easier. With Bluemix your application is deployed and running in productions within minutes.
Bluemix’s future-rich built to measure git repository makes everything; from production live coding to building to deploying your application as simple as a push command. You can quickly extend the capabilities of your app in any direction. A click of a button, a copy-paste of the credentials of your new service and you are back on track. And once you’re alive, Bluemix will handle scaling monitoring and logging. So you could spend more time on what you actually love doing.
Doing business on the go has become the new norm. So does dealing with all sorts of financial transactions through your trusted smart phone or device. From purchasing stocks, making wire transfers and quick personal deposits - mobile finances has exploded in popularity the past few years
The industry keeps growing. Over 1.75 billion users are expected to conduct banking operations through mobile devices by the end of 2019. With this explosive growth what are the benefits for financial enterprises? As more of banking moves into the digital realm, the less money financial institutions have to invest into brick and mortar locations, as well as all of the personnel that goes along with that. When technology can perform all of the functions of a bank teller, and when all of those functions can be safely and easily accomplished by a user app, everyone wins.
But there’s some bad news as well - not all of those users are particularly happy with the kind of user experience they are currently having with their mobile banking. According to the latest J.D. Powers survey only 32% of bank customers say they trust mobile banking and most respondents indicated that they are not “fully satisfied” with the current app proposed by your bank.
The bottom line is this - while financial app development definitely is a promising sector, product owners should specifically focus on building a user-friendly, secure and personalized product rather than deploying just “some app” to stay in trend.
Building That App – Key Elements to Consider
There are several steps in the process of creating a financial app that users will find friendly, safe, and easy to use. If you can accomplish these three things, you will keep customers and your costs down. Consider the following critical pieces.
Know Your Customer
Just who is our mobile consumer? Most would say it is the millennial and younger generations. And they would be mostly correct.
But here’s the thing: Gen X’ers and even 45% of Baby Boomers are using online banking too. And people are interacting with their banks far more frequently than they used to. It’s now so easy to check a balance, transfer funds, and pay bills, if, and this is a BIG if, the app is well done. If not, customers will be lost.
So, what are the biggest objections/frustrations of our potential app users? You have to find this out before you can begin to build or remodel an app.
Here is what consumers are saying about their current banks’ mobile apps:
The other critical information you need to get from your customers is what exactly do they want to be able to do on your app. You can use data analytics to track customer behavior or you can ask. But, in general, here is what most consumers do on their financial apps:
List the Elements You Will Include
Don’t just make a simple list. Create a scenario for each element. How do you want the customer to go through the process involved?
Once you have all of this, you are ready to look at developers, if you don’t have the in-house expertise. Seasoned financial app developers can take what you want and recommend the best technology stack for your needs.
And speaking of financial app developers, be selective as you search for the best one. They should be willing to show you case studies and put you in touch with clients for reference.
Security – It’s the Most Critical Challenge
You already have security measures in place if you offer online banking through your website. Translating those to a mobile app means the following:
Make sure your developer understands your security policies
Application servers must be carefully configured, so that phishing is avoided
Use the most current digital signature technology – you want everything secure and yet easy for the user
Utilize encryption for all user stored data.
Have a password strength checker – never allow your customers to use simply and easily-hacked passwords.
Be firm with your customers on how they are to behave when using your app. They must password-protect their phones; they should never store their passwords with you; they must logout when finished; they must install app updates. They have to do their part to protect their information too.
Keep it Simple
You know the features your customers want. Limit activities to those features only. If the majority of your customers pay bills on the app, then focus the application around that feature. Don’t waste time building features, such as applying for loans, that are hardly used by your clients.
As the app matures continue adding features in a methodical and customer centric way.
Sleek Design and UX
Here are the things to think about:
Only a couple of steps to get to functions - reduce the number of clicks.
Users love notifications - make sure you offer that to them.
Analyze & track the features most frequently used, and focus the user interface on those functions.Test, Test, Test
While security is important, make sure you have a fully refined QA process in place to reduce any problems with the software.
And don’t forget user testing – you’ll get great feedback.
Plan for Diverse Devices
Make sure you app works well across all devices and screen sizes. There are a number of services that offer online emulators for you to test your applications - make use of that.
Consider adding a mobile analytics piece in your application to track detailed information about usage, and better visibility into any problems your customers might be facing.
Cost – It’s Not Your Primary Concern
When looking for a developer for your application, cost should not be your only concern. Financial applications are complicated and require experienced developers who understand the intricacies of the industry, security and functionality. Don’t just go after the lowest priced developer.
Building a financial app will be key to retaining your customers. If even Baby Boomers are using them, the proverbial “handwriting is on the wall.” Take these eight “criticals” and find the right developer now.
So, you have a great idea for an app. You think there is an audience out there, and you are hell bent on developing it so that you can get it to market as soon as possible. Yes, it will be a costly project; yes, it will require hours upon hours of wireframing and development.
It’s time to take a step back and just breathe for a minute. Before you launch headlong into a complex and costly app development, make the smart choice to do the research, determine the need, and then develop an MVP that will “test the waters.”
Developing a minimum viable product is not something new, nor should it be considered a “negative.” It’s normal to want to develop the entire product from the “get-go,” but it is not wise. Consider this: Google and Dropbox both created MVP’s before they moved forward. And look where they are today.
If you have never developed an MVP before, it can seem a bit scary. How do you actually do it? Here is your simple guide to MVP development - five steps that will take you from conception to the creation of a product that can be tested and marketed before you develop full functionality.
Define the “WHY?”
If you are developing an app because you think it is cool, then you may be sorely disappointed. Every app, even a game, is built to solve a consumer problem, not your need. So, do the research. Who is your target demographic and what do they want? Creating a customer persona is a major and critical first step. From that persona, you can then identify individual consumers who are willing to participate in user acceptance testing.
Blue-Sky It – the “WHAT” – The Product Requirements Document
This is the step during which you will develop your product requirements list. It the “What” of your app.
Begin by developing a workflow diagram of exactly how your app will work. You need two columns. On the left, identify the input and on the right, the output. From this diagram, you will be able to identify the product features and create that PRD.
Your Product Requirements Document will describe in detail all of the features, relative to the design and user experience. It will become the “bible” for developers. And those developers must be “in” on these discussions, for they will determine the software architecture that will be necessary, the projected time and cost involved in each feature development, etc.
Features should also be ranked – otherwise there is no way to determine the “what” of an MVP.
Another critical piece of the product requirements document will be the criteria for release. At what point will the MVP be ready for testing by your audience? This part of your document may indeed have to wait until you have completed Step 3.
From the workflow diagram that you have crafted, it is now time to start eliminating features and functions. There is one question that you must continually ask as you move through this process – “What is the least important function of those that remain?”
As you eliminate, of course, you will want to keep a listing of what you removed and in what order. Because, once the MVP is released, tested, and proven to be successful, you will want to add those functions in the reverse order in which you took them out. Your engineers must have this list as well, so that they may what functions will be developed next and in what order.
Once you are down to the minimum viable product, you and your developers(s) can craft that section of the product requirements document that includes the criteria for release:
Are all the mandatory functions in place?
Is the app, in its current MVP state, intuitive and user-friendly?
Does performance provide a great user experience?
Short Development Sprints
Divide the development process into short chunks. As working code is developed and tested in-house, pause to ensure that each chunk is still compatible with the “why” of your product development. Sometimes, the nature of software development means that the scope of a function may change. New ideas may emerge. While these may not be on your plate right now, keep track of them for future scaling.
If a new idea is added, what will you take out? Remember, this is an MVP.
What are You Doing About a Business Plan?
If you are a first-time entrepreneur, and our app is your startup, what have you done about a plan to acquire the funding you may need to fully develop? It is time at this point to look for business plan writers, especially if your strength is in tech and not in marketing/writing. Do not wait until your MVP is finished and tested to do this. That plan must be ready to present to potential investors. At this stage in the process, you have the information you need to craft that plan, and you want it polished and ready.
The Beta Testing
Once the minimum functions are in place and once the criteria for release have been met, it is time for actual user testing. For this step in the process, you and the developer(s) must create a list of tasks you want your testers to perform.
During the testing phase, performance of tasks must be closely monitored. Where are there issues with navigation, speed, etc.? Are there “fails” that must be fixed? What bugs must be worked out?
The other key component of beta testing is tester feedback. Is their experience enjoyable? And, most important, does this product provide a solution to the problem or gap you originally identified? User feedback may also generate ideas that will cause you to re-think the additional functions you originally envisioned – all the better! Remember – it’s all about the user, not you.
Your final development revisions and “fixes” will be based upon actual user testing.
Get Your MVP and that Business Plan Out There
You may not love the idea of marketing and investment-seeking, but it is a reality you must face. There are places to start, obviously. App reviewers abound, and you can offer incentives to reviewers to perform this function for you. You may need some professional help or, at the very least, to conduct some research on your own about marketing options.
There are also an amazing number of funding resources today, so check them out and find the best options for your product.