November on FINthinkers

leaves-57427_1280
November 2017 was the first month for the FINthinkers blog. Below is a short summary of what covered so far
Change
Our blog started with Change is inevitable looking at diverse types of change ranging from evolution to revolution. We also touched on Conway’s Law which states that organizations designing systems are constrained to produce designs which are copies of the communication structures of these organizations. Following Conway’s law companies need to change the organization to create the systems required to stay relevant in the new normal. In Next stop – FinTechGiants ? we look at the available dimensions to outperform others and at the relevant structures which each company has. Many companies seem to apply a Tur Tur strategy to change looking giant from far away but very small if one gets closely.
Client Experience and Brand
Noisy Channel(s) to Channel-less highlights the need to think from the client’s perspective. No client talks about channels but we all like to have seamless and ubiquitous experience to reach the desired outcomes. So brand’s digital behaviour becomes vital when services are transparent in a digitally augmented world.
Security
Homomorphic Encryption started a series of posts on security and related topics.
We hope that the posts inspired you to think about the topics. The nest posts will follow soon … thanks for reading.

 

Noisy Channel(s) to Channel-less

binary-2926088__340
From single channel to omni channel the intent was to enable enterprises to seamlessly engage with their clients across them, improve client experience by ensuring context and history are in all channels seamlessly. To date there are 3000 apps available for download from the Apple App Store.  Do we really need an exuberance of micro capabilities of each app across different channels in order to interact/ fulfill our daily lives? And if so how many are truly interconnected and contextualised? Or should the importance be of maintaining the social-connectedness from the events happening around the client’s ecosystem in order to ubiquitously interact and communicate? Channel-less is simply a window into the core client experiences.
With the exponential increase in the sophistication and proliferation of technology current communication are just not adapted to the client’s needs. Some require an intensive publishing cycle and don’t provide the necessary features as offered by other platforms. At the same time multitude of information sources makes it difficult to fill them all. Rather than adding more channels creating subsets of it, enterprises should think about orchestrating the experience base on the client’s interaction.
Defining personalized touchpoints for the client represents the journey a client engross in association to the brand which reflects precious insightful moments of truth. Regardless of channel(s), the interaction(s) be it via a channel or an IOT appliance or VR or AR, the interaction(s) should continuously be able to recognise and support the concurrency in which a client can be interacting through multiple mediums at the same time or span across but it is as if he/she is interacting as one.
In the forseable future digital assistant(s), which are permeable and omnipresent, will share and perform the responsibilities of the physical client. Acitivities will be perform by many digital assistants representing the client taking place concurrently in the various interaction mediums. E.g. a client maybe in front of a digital device performing a transaction while at the same time his/her digital assistant discusses wealth planning with a financial advisor while another is engaged with other administrative activity. Or be be it starting an activity through one interaction and finishing the same activity in another.
Simplicity is the key to remain flexible and able to rapidly change as the next wave of digital disruption takes hold. What the client wants is to connect/interact seamlessly in their ecosystem. It is not about a channel(s) it is is about providing and making the connection seamless and ubiquitous.