The banking sector is one of the industries where the acquisition cost of a customer is significantly high. Acquiring new customers on average can cost five times more than retaining existing customers. Retention of customers in the banking sector has taken a passive approach.
Over the past few years, the growth of digital wallet apps has been phenomenal. Driven by the adoption rate of mobile apps to check last-minute deals on travel, buy movie tickets, or order food – the digital wallet companies have grown along. Early adopters of these digital wallets were often digitally-savvy millennials that swayed for features that offered lower transaction time and convenience.
Most banking operations involve time-consuming, repetitive processes. Many of these processes, which do not require human intervention can be automated. With robotic process automation, bank operations can be done at a greater scale, speed, and accuracy than is not possible with humans. This has a direct impact on accuracy, efficiency to staffing issues, and its related expenses. With robotic process automation, the need for data reconciliation is also significantly reduced.
Eighty percent of the internet website audience already watch some form of video, but mainly in short form; the average length of an Internet video stream today is only about three minutes. This is changing rapidly and the long-form video, streamed, real-time, or batched, will soon become the dominant form of content. Delivering long-form video content is bandwidth-intensive. While most low-end websites have resorted to posting video content on YouTube, this might not be a good option for those media who wish to monetize the content exclusively on their website.
The success of ‘The New York Times’ shifting its focus from advertising to subscriptions first company has encouraged many other publishers like The Wall Street Journal, Bloomberg News, and the Financial Times to implement a paywall and moved beyond the free content. ‘The New York Times’ today, earns two-thirds of its revenue from subscriptions.
Imagine a visitor came to your site, two times a day. In the first instance, he found your media brand selling premium content through a Facebook advertisement in his newsfeed. He clicked on the advertisement and visited the media site. In the second instance, a few hours later during the day, after having gathered some more information he Googled the media brand name, clicked the paid search results, and landed on your site.
Today’s citizen expects a modern, streamlined, and responsive citizen service experience across government institutions, comparable to leading private-sector organizations.
An online web-based service ensures that citizens get consistent, accurate, and up-to-date answers regardless of who is at the service desk. Documenting the frequently asked questions and guiding citizens with helpful text on the website can help reduce the calls to the support desk.
Multinational corporations are now increasingly faced with the challenge of operating across partner companies with diverse corporate cultures. For leaders who are currently leading these business functions or would likely move into such roles - training plays a vital role.
The Internet is a mission-critical infrastructure, for any nation. Increasingly government institutions are making their services available online to improve citizens' quality of life.
The road transport department is constantly battling with the problem of poor routing and scheduling; random criminal acts that destroy public transport vehicles - resulting in higher maintenance costs. The department is also faced with the problem of having very little data available at its disposal to track and optimize the current fleet’s performance.
The complexity of the problem further enhances when public transport vehicles start and return from multiple depots, and many of these routes are return journeys to the original depot.