Posts tagged ‘cloud market’

Monetizing the Internet of Things: Will All These Connected Devices Pay Off? #CloudWF

Guest Blog with Avangate

Author: Michael Ni, CMO/SVP, Marketing and Products, Avangate

Sometimes it seems like just yesterday that everything was getting “cloud-ified,” from photo sharing to customer relationship management, but the move to the cloud is actually a couple of years old these days. But now that we all have our documents stored in the cloud (and our heads out of the clouds), everybody’s looking for a clear path toward success in the latest trend: the Internet of Things.

Just like the cloud before it, the Internet of Things is now top of mind for software professionals. Its promise has been nascent for a long time: although Dick Tracy’s 2-Way Wrist Radio first appeared in 1946, connected devices like the FitBit and Apple Watch are just starting to get in the hands – or on the wrists – of everyday folks.

With broader adoption of connected devices come both opportunities and challenges. Even the companies that are able to sell IoT hardware successfully find themselves needing to develop and monetize complementary services to help users get the most out of their devices. And software-focused companies that don’t have devices need new a way to get in on the IoT and the billions it’s expected to bring in. That way is through data.

While the IoT started out with connected sensors, it soon became clear that simply sensing data wouldn’t be enough. Just like storing content in the cloud also required building interfaces that made it easy for users to access cloud content, IoT sensors now need to produce data that’s easy for people to find, understand and use. And because IoT data is so valuable (not to mention expensive), there needs to be a way for companies to monetize it. So if wave 1 of the IoT trend involved simply creating the sensors, wave 2 involves monetizing them and the data they create.

As a result, more and more software vendors have started staking a claim in the IoT. At Avangate, we’ve been helping companies like Bitdefender monetize their IoT offerings. Bitdefender offers a “security of things” solution called BOX, a small device that scans for IoT threats on a local WiFi connection. By monitoring the way your smart devices stay connected, BOX finds and protects against possible threats to your connected information. By helping Bitdefender easily monetize its entry into the IoT, including not only the device itself but also associated data, we’re showing the importance and ease of monetizing IoT devices and the data they produce.

And that’s the key: commerce absolutely has to run in the background of every IoT play. No matter how affordable a device is up front, or if streams of data are free for now, devices and data both cost a significant amount to create, maintain, and provide in ways that really work for consumer and business customers. As a result, to truly succeed in the IoT, software companies need to be able to package and sell data derived from connected devices in ways that will benefit other entities as well.

In the end, it’s clear that that the desperate need for IoT data monetization is actually a massive opportunity. Companies are still scrambling to create devices and support data, and not enough entities are thinking about how to monetize it. Those who find themselves able to successfully package and sell information in the IoT era may find themselves enjoying Salesforce style status and riding high on the wave of the future as the IoT truly takes off.

…………………………………………………………………………………………………………………

Avangate will be exhibiting at the Cloud World Forum on Stand D48, taking place on the 24th – 25th June 2015.

REGISTER YOUR FREE EXHIBITION PASS HERE.

CWF static banner

Advertisements

The channel must embrace cloud to build for the future #CloudWF

Channel-300x240With cloud acceptance growing, more and more businesses are dipping their toes in the water and trying out cloud based services and applications in a bid to work smarter and lower IT expenditure. But with recent research suggesting that four in ten ICT decision-makers feel their deployment fails to live up to the hype – more needs to be done to ensure cloud migration is a success.

This is where the channel has a vital role to play and can bridge the knowledge gap and help end-users reap the benefits that cloud technology can provide.

With the cloud becoming a mainstream solution for businesses and an integral part of an organisation’s IT strategy, the channel is presented with a huge opportunity. Offering cloud services to the market has the potential to yield high revenues, so it’s vital that the channel takes a realistic approach to adopting cloud within its portfolio, and becomes a trusted advisor to the end user.

We have identified three key reasons why resellers shy away from broadening their offering to encompass cloud for new and existing customers. A common barrier is a simple lack of understanding of the cloud and its benefits. However, if a business is keen to adopt this technology, it is vital that its reseller is able to offer advice and guidance to prevent them looking elsewhere.

Research by Opal back in 2010 found that 40 per cent of resellers admit a sense of ‘fear and confusion’ around cloud computing, with the apprehension to embrace the technology also extending to end users, with 57 per cent reporting uncertainty among their customer bases. This lack of education means they are missing out on huge opportunities for their business. A collaborative approach between the reseller and cloud vendor will help to ensure a seamless knowledge transfer followed by successful partnership and delivery.

The sheer upheaval caused by offering the cloud will see some resellers needing to re-evaluate their own business models and strategies to fulfil the need. Those that are unaccustomed to a service-oriented business model may find that becoming a cloud reseller presents strategic challenges as they rely on out-dated business plans and models that don’t enable this new technology. However, failing to evolve business models could leave resellers behind in the adoption curve, whilst their competitors are getting ahead. Working with an already established partner will help resellers re-evaluate their existing business plans to ensure they can offer cloud solutions to their customers.

Resellers are finding it challenging to provide their customers with quick, scalable cloud solutions due to the fact that moving existing technology services into cloud services can be time consuming, and staff will be focused on working to integrate these within the enterprise. However, this issue can easily be resolved by choosing a trusted cloud provider, and in turn building a successful partnership.

Although resellers will come across barriers when looking at providing their customers with cloud services, these shouldn’t get in the way of progression. In order to enter a successful partnership with a cloud provider, there are some important factors resellers should consider before taking the plunge.

Scalability

Before choosing a prospective partner, resellers need to ensure it has the scalability and technology innovation to provide a simple integration of current IT services into the cloud. Recent research has proved that deploying cloud services from three or more suppliers can damage a company’s business agility. UK businesses state a preference for procuring cloud services from a single supplier for ease of management. It’s important to make sure the chosen provider has the ability to provide one fully encompassed cloud service that can offer everything their customers require.

Brand reputation

Choosing a partner that offers not only a best-of breed private, public and hybrid cloud solution, but also has the ability to provide the reseller with a branded platform will give an extra layer of credibility to the business for not only existing customers, but future ones as well. Resellers are more likely to choose a cloud provider that gives them control over the appearance, as well as support and access to infrastructure of the cloud platform.

Industry experience

It’s vital to ensure the cloud provider has extensive industry experience and knowledge with a proven track record in order to meet the required criteria of scalability and performance. The partner must have the knowledge in order to educate and offer advice to the reseller. If they are able to do so, the reseller can therefore pass this knowledge on to their own customers.

By not offering the cloud, resellers will miss out on vast opportunities and in turn, lose potential revenue as well as new and existing customers. The channel must now embrace the cloud and take advantage of the partnerships available in order to succeed.

Written by Matthew Munson, CTO, Cube52

REGISTER FOR YOUR FREE EXHIBITION PASS HERE!

CWF static banner

ISO 27018 and protecting personal information in the cloud: a first year scorecard #CloudWF

ISO 27018 has been around for a year – but is it effective?

Source: Business Cloud NewsData-protection

A year after it was published,  – the first international standard focusing on the protection of personal data in the public cloud – continues, unobtrusively and out of the spotlight, to move centre stage as the battle for cloud pre-eminence heats up.

At the highest level, this is a competitive field for those with the longest investment horizons and the deepest pockets – think million square foot data centres with 100,000+ servers using enough energy to power a city.  According to research firm Synergy, the cloud infrastructure services market – Infrastructure as a Service (Iaas), Platform as a Services (PaaS) and private and hybrid cloud – was worth $16bn in 2014, up 50 per cent on 2013, and is predicted to grow 30 per cent to over $21bn in 2015. Synergy estimated that the four largest players accounted for 50 per cent of this market, with Amazon at 28 per cent, Microsoft at 11 per cent, IBM at 7 per cent and Google at 5 per cent.  Of these, Microsoft’s 2014 revenues almost doubled over 2013, whilst Amazon’s and IBM’s were each up by around half.

Significantly, the proportion of computing sourced from the cloud compared to on-premise is set to rise steeply: enterprise applications in the cloud accounted for one fifth of the total in 2014 and this is predicted to increase to one third by 2018.

This growth represents a huge increase year on year in the amount of personal data (PII or personally identifiable information) going into the cloud and the number of cloud customers contracting for the various and growing types of cloud services on offer. but as the cloud continues to grow at these startling rates, the biggest inhibitor to cloud services growth – trust about security of personal data in the cloud – continues to hog the headlines.

Under data protection law, the Cloud Service Customer (CSC) retains responsibility for ensuring that its PII processing complies with the applicable rules.  In the language of the EU Data Protection Directive, the CSC is the data controller.  In the language of ISO 27018, the CSC is either a PII principal (processing her own data) or a PII controller (processing other PII principals’ data).

Where a CSC contracts with a Cloud Service Provider (CSP), Article 17 the EU Data Protection Directive sets out how the relationship is to be governed. The CSC must have a written agreement with the CSP; must select a CSP providing ‘sufficient guarantees’ over the technical security measures and organizational measures governing PII in the Cloud service concerned; must ensure compliance with those measures; and must ensure that the CSP acts only on the CSC’s instructions.

As the pace of migration to the cloud quickens, the world of data protection law continues both to be fragmented – 100 countries have their own laws – and to move at a pace driven by the need to mediate all competing interests rather than the pace of market developments.

In this world of burgeoning cloud uptake, ISO 27018 is proving effective at bridging the gap between the dizzying pace of Cloud market development and the slow and uncertain rate of legislative change by providing CSCs with a workable degree of assurance in meeting their data protection law responsibilities.  Almost a year on from publication of the standard, Microsoft has become the first major CSP (in February 2015) to achieve ISO 27018 certification for its Microsoft Azure (IaaS/PaaS), Office 365 (PaaS/Saas) and Dynamics CRM Online (SaaS) services (verified by BSI, the British Standards Institution) and its Microsoft Intune SaaS services (verified by Bureau Veritas).

In the context of privacy and cloud services, ISO 27018 builds on other information security standards within the IS 27000 family. This layered, interlocking approach is proving supple enough in practice to deal with the increasingly wide array of cloud services. For example, it is not tied to any particular kind of cloud service and, as Microsoft’s certifications show, applies to IaaS (Azure), PaaS (Azure and Office 365) and SaaS (Office 365 and Intune). If, as shown in the graphic below, you consider computing services as a stack of layered elements ranging from networking (at the bottom of the stack) up through equipment and software to data (at the top), and that each of these elements can be carried out on premise or from the cloud (from left to right), then ISO 27018 is flexible enough to cater for all situations across the continuum.

Cloud-licenses-1024x528Indeed, the standard specifically states at Paragraph 5.1.1:

“Contractual agreements should clearly allocate responsibilities between the public cloud PII processor [i.e. the CSP], its sub-contractors and the cloud service customer, taking into account the type of cloud service in question (e.g. a service of an IaaS, PaaS or SaaS category of the cloud computing reference architecture).  For example, the allocation of responsibility for application layer controls may differ depending on whether the public cloud PII processor is providing a SaaS service or rather is providing a PaaS or IaaS service upon which the cloud service customer can build or layer its own applications.”

Equally, CSPs will generally not know whether their CSCs are sending PII to the cloud and, even if they do, they are unlikely to know whether or not particular data is PII. Here, another strength of ISO 27018 is that it applies regardless of whether particular data is, or is not, PII: certification simply assures the CSC that the service the CSP is providing is suitable for processing PII in relation to the performance by the CSP of its PII legal obligations.

Perhaps the biggest practical boon to the CSC however is the contractual certainty that ISO 27018 certification provides.  As more work migrates to the cloud, particularly in the enterprise space, the IT procurement functions of large customers will be following structured processes in order to meet the requirements of their business and, in certain cases, their regulators. In their requests for information, proposals and quotations from prospective CSPs, CSCs now have a range of interlocking standards including ISO 27018 to choose from in their statements of requirements for a particular Cloud procurement.  As well as short-circuiting the need for CSCs to spend time in writing up detailed specifications of their own requirements, verified compliance with these standards for the first time provides meaningful assurance and protection from risk around most aspects of cloud service provision. Organisations running competitive tenders can benchmark bidding CSPs against each other on their responses to these requirements, and then include as binding commitments the obligations to meet the requirements of the standards concerned in the contract when it is let.

In the cloud contract lifecycle, the flexibility provided by ISO 27018 certification, along with the contract and the CSP’s policy statements, goes beyond this to provide the CSC with a framework to discuss with the CSP on an ongoing basis the cloud PII measures taken and their adequacy.

In its first year, it is emerging that complying, and being seen to comply, with ISO 27018 is providing genuine assurance for CSCs in managing their data protection legal obligations.  This reassurance operates across the continuum of cloud services and through the procurement and contract lifecycle, regardless of whether or not any particular data is PII.  In customarily unobtrusive style, ISO 27018 is likely to go on being a ‘win’ for the standards world, cloud providers and their customers, and data protection regulators and policy makers around the world.

………………………………………………………………………………………………………………………………………………………Visit the Cloud World Forum taking place on the 24th – 25th June 2015 at Olympia Grand in London.

Don’t miss the chance to take advantage of all the knowledge and networking opportunities presented by EMEA’s only content-led Cloud exhibition.

Register you free exhibition pass here.

CWF static banner

Exclusive Interview with Goran Car, Head of Strategic Business Unit and CTO, ComCloud in Combis #telcocloud

imageedit_9_8129103358ComCloud_Logo-474x325

We interviewed our speaker Goran Car, Head of Strategic Business Unit and CTO ComCloud in Combis, on trends and development which are shaping Cloud market today and tomorrow.

THE INTERVIEW


What is the latest telco cloud project you are working on? Please tell us more about it.

Our Cloud solution ComCloud is a telco oriented, comprehensive and modular Cloud solution which provides facilities for automated provision of Cloud services and infrastructure management via self-service portals.

We are in the process of finishing a project for HT Eronet in Bosnia and Herzegovina and one incumbent telecom within EU. Both are Public Cloud projects with Marketplace and SSO enablers and basic IaaS services. In coming months it will be extended with additional services and different SaaS offerings.

Within the projects we tried to give the most that Cloud can give, taking into account customer wishes, of course.

For more information visit my lecture ‘Where Have All the Marketplaces Gone’. I will talk about best practice examples, guidelines and ideas how to utilize marketplace, as the most common centerpiece of Cloud selling strategies, in the best, most appealing and market-specific way, how to utilize marketplace in geographically-bound markets and how to make successful go-to-market strategy and maximize potential of Cloud services.

What telcos need to work on to provide best-in-class cloud?

We believe that user experience is crucial. Customer must be provided with best-in-class experience. Consumer is conditio sine qua non.

Consumerization is a very well-known trend, but it must be taken to next level in providing (business) Cloud services. Seamless integration of Marketplace and services, responsive web, subject-action relationship instead of classic action-subject web are all crucial elements for providing modern Cloud services. Technology is available to everybody, so what we feel will drive future Cloud business are experience and bundled offers.

We were thinking about trends and we have developed a solution which offers extensive customer experience, enabling service providers to efficiently distribute their Cloud services, and users to effectively self-manage them. Customers are thus able to manage their resources more promptly and thoroughly in order to adapt expenses to their actual needs. At the same time, the system provides service providers with an opportunity to expand into new markets more easily, removing all physical barriers which prevented them to do so until now.

What do you think is going to be the next big ‘thing’ in the telco cloud market?

I believe that there will be greater way of interworking, both between different Cloud services and customer’s internal IT. Moreover, customers will have the possibility to move between services more easily and configure more than one service together in greater solution.

For instance, we are experimenting with setting up virtual network service, being able to connect different services by usage of self-service portal.  It is important to constantly think of the needs of end users and to think innovatively.

What is your favorite book or film about the future of technologies?

It might not be so much about future of technology, but I really like Brian Green’s “The Elegant Universe”. It sets a theory, that when and if proved and detailed, it can open a completely new view on building things and technology that was once considered impossible.

REGISTER YOUR FREE PASS HERE.


 

cloud-telco-646x200

Goran Car will held a lecture ‘Where Have All the Marketplaces Gone’ on Wednesday, 29th of April, at 12:40 in Ballroom, Radisson Blu Portman, London.

The future call centre: 10 predictions for the next 10 years

Guest Blog with NewVoiceMedia

Video-service-198x300What will the call centre of 2025 look like?

Well, to start with, it’s unlikely to be a physical ‘centre’ anymore. The rise of cloud technology is predicted to lead to an increase in remote working. But this move outside the office walls is far from businesses shunning the contact centre.

The omnipresent eye of social media has put companies in the limelight – for good and for bad, pushing customer service right to the top of the priority list. As a result,  looks set to become a key differentiator from now onwards, and the call centre will be at the forefront of this strategy.

Here we explore the trends that look set to transform the call centre in ten years’ time.

1. The call center will become a ‘relationship hub’

For years, many have considered the call centre as a way of dealing with immediate problems. This led to a short-term strategy of dealing with one customer emergency after another – reacting instead of adapting to the needs of the customer. Instead of picking up the pieces when things go wrong, we predict that the contact centre will become an integral part of business strategy, acting as a ‘relationship hub’.

Contact centre agents are the first to know if something isn’t working and are therefore perfectly poised to advise the business. It’s the people on the other end of the phone that know what the customers really think. Customer service can be seen as an afterthought – what happens after the marketing department has reeled them in, but really, it should be part of every stage of business development, supplying sales and marketing with repeat purchasers and advocates, as well as an essential data point for product management and development.

2. Customer service agents will become ‘super agents’

As the call centre becomes an increasingly important part of the business, so do the people that work there. They will need to adapt their skillset to meet the demands of the future customer and the expectations directors place on the contact centre. Plus, with the rise of ‘self-help’ and user communities, only the most complex problems will end up in a call centre. Agents will need to be ready to tackle challenging issues and be able to unpick the situation to pinpoint what exactly went wrong.

It’s therefore not surprising that in the next ten years, the average customer service agent will need to have a much wider range of skills. Aside from excellent communication skills, they’ll need analytical problem-solving skills, project management – and in some cases, technical training, in order to understand the finer details of the product or service. Alongside all of this, customer service agents will need to be able to adapt to changes in technology – from becoming an expert in every new app and social network, to utilising the increasing range of data on their CRM.

3. Call routing systems will find the ‘perfect match’ 

Intelligent call-routing is already available now, but it’s predicted to grow in the next ten years – matching the customer with the right expert almost instantly. As CRM and workflow management systems develop, a complex ‘match-making’ process will occur every time a customer calls, to ensure the right expert is on hand to solve every problem. Many also believe that organisations will begin to publish their agents’ availability online, so that customers can pick the agent that best suits their needs and call them directly.

4. Web chat will become an increasingly popular customer service channel

It can be frustrating to be on the other end of a phone – whether you’re an agent or a customer, the channel has its limits. The success of Amazon Mayday has made video-based live chat a real possibility. The channel has huge potential, because it allows agents to develop a more personal connection with customers through face-to-face chat. Plus, have you ever wanted to show a customer how something works? With video chat, this becomes a possibility. It also eliminates the idea of being put on hold – even if the agent isn’t speaking, the customer is connected via the visual feed. Video web chat also allows contact centres to anticipate problems as customers navigate their website and ensure the right agent pops up at the right time.

5. Customer service will become the key differentiator

With the rise of intangible products, which only exist via your mobile or laptop, customer experience is becoming more important as a differentiator. Consumers don’t just want great customer service, they demand it. In the UK, half of consumers said they would buy from a competitor as the result of poor customer experience. This is similar in the US, with 44% of consumers taking their business elsewhere as a result of inadequate service.

Plus, with the death of sustainable competitive advantage, companies can no longer rely on their well-defined niche to keep them ahead. The elusive ‘experience’ becomes more important and customer service moves straight to the top of the agenda. Add to this the growth of social media and customer service has transformed from a one-to-one interaction to a public conversation. With customer service becoming this transparent, companies have realised they need to up their game. You can no longer hide bad customer service behind closed doors; every business has an online footprint of their successes and failures for all to see. As a result, companies will start to compete to offer the best customer service – with social media recommendations being the ultimate prize.

6. Mobile is the future – for customer service agents and customers

According to the Economist, mobile apps are predicted to become the second most important channel for engaging with brands – just behind social media. And it’s not just about apps, as the mobile phone becomes an increasingly important part of everyday life. It’s how your customers are most likely to get in contact with you – via email, live chat, social media or in a voice call. Companies need to optimise their mobile functionality for this – particularly by allowing customers to multi-task on their mobile. For instance, being able to read the FAQs page while on the phone to the customer service agent. Your customer service agents will make the same demands for mobile. Being able to access a mobile CRM is a key ingredient for flexible working.

7. Expect channel preferences to change (and change again)

As consumers demand a personalised approach to just about everything – they expect to be able to mix & match the customer service channels to create a tailor-made service. However, it’s becoming increasingly hard to predict and plan for the channel-hopping. That’s why we predict that whatever the preference is at the moment, it will change in the next ten years – probably several times. How contact centres are able to adapt to customers switching between channels will determine their success.

This is particularly true if businesses want to appeal to the millennial generation, who are notorious for channel-switching, as they move from mobile to tablet to laptop, all in a matter of hours. Being able to follow those channel hops while maintaining the context of the interaction is key to customer service success. And it’s not just about keeping up with the change in device or channel, businesses need to keep up with the technology itself. New apps and social networks are launched all the time – WhatsApp is a great example of a channel that’s taken off rapidly and is becoming a popular choice for customer service.

8. Voice biometrics will replace security questions

“What’s your mother’s maiden name?” is one of many common security questions, but in the next ten years, it’ll be more about how the customer answers a question than the answer itself which confirms their identity. Gathering the unique ‘voiceprints’ of your customers could be the answer to security problems, as voice biometrics technology develops. It’s much harder to replicate the human voice than it is to steal facts about a customer. Voice biometrics record the intricacies of the human voice – from picking up on the size and shape of the mouth to the tension of the vocal cords.

9. Remote working and location-based services will increase

With the rise of cloud-based SaaS, having all your agents in one place is no longer necessary. It’s actually much more than unnecessary – switching to remote working agents has lots of benefits. This approach can reduce the costs associated with running a call centre and give employees greater flexibility. It is predicted that the growing number of virtual call centres could lead to more location-based services. For instance, a customer calling a company could be automatically connected to an agent working remotely a few miles from their location. The agent could even arrange to meet the customer if necessary, which could be very useful for certain sectors.

10. The “internet of things”

Described by many as the third great wave of computing – the “internet of things” or the “internet of everything” could change the way the world works. With more and more devices being able to connect to other devices or people independently, it gives rise to a world where almost everything is connected. This could have huge implications for the contact centre, enabling businesses to deliver pre-emptive service. For instance, if a patient’s heart monitor is over-heating, the device could send an automated service request to the right team. On a more domestic level, washing machines may be able to self-diagnose problems and notify the manufacturer when the part needs replacing – taking the customer out of the equation altogether.

The implication is that attitudes will shift – instead of buying a product, consumers will be buying a product with built-in customer service, raising the stakes for getting service right.

……………………………………………………………………………………………………………………………………………

NewVoiceMedia are Salesforce Pavillion Partner and exhibitors at Cloud World Forum, taking place on the 24th – 25th June 2015 at Olympia Grand in London.

Don’t miss the chance to take advantage of all the knowledge and networking opportunities presented by EMEA’s only content-led Cloud exhibition.

Register for your FREE exhibition pass here!

CWF static banner

 

80% of banks to replace core systems “within five years” #CloudWF

Four out of five banks believe they will have to replace their core banking system in the next three to five years, with nearly 90% in favour of including SaaS or cloud based services as part of the infrastructure, according to a new survey of senior bank executives.

In the report, Invigorating Banking, sponsored by fintech firm Five Degrees and carried out by Finextra Research, the results revealed strong support for core system replacement and renovation. Some 83% of respondents believe their bank’s existing core technology can no longer support its needs. A further 89% believe that it is inevitable that banks rapidly modernise processes and IT to avoid losing market share.

“You cannot become a digital bank without core systems renewal; you cannot renew core systems without using cloud for data management; you need to consolidate data in the cloud to be able to perform effective data analytics; and when you’ve renewed core systems through the cloud to perform data analytics, then you can innovate,” said Chris Skinner, report contributor and independent financial consultant.

table-1231

Many banks planned to respond by working with new technology providers, even where these have fewer customer references, so that the bank can ensure that it implements standard service oriented architecture (66%). A slim majority of banks still believe that IT is a unique selling point and will continue to rely on their own in-house development teams for niche technology that fits the bank’s strategy (61%). However, banks were split down the middle on whether to stick with their current technology provider, following its migration and upgrade process even if it would not provide the benefits of newer SOA technology (50% versus 50%).

There were also geographical differences in how the banks planned to respond to these challenges. While support for new cloud based platforms was strong overall, it was lowest in western Europe, where only 51% were strongly in favour, versus Asia Pacific, where the equivalent figure was 76%. Yet , across all banks, 97% believe that the bank needs to be able to offer new financial products and services faster.

On others areas there was virtually unanimous agreement. Some 97% of respondents agreed that security must be improved for customers due to the increasing risks associated with multi-channel technology. Likewise, overwhelming majorities supported the need to equip bank staff and customers to a higher level of self-service (97%). Unsurprisingly, 82% agreed with the statement that customers prefer an excellent mobile channel over a branch nearby.

However, there is still a place for face to face dialogue. Responses were strongly divided over whether customers prefer an efficient virtual dialogue over a personal one to solve financial matters (52% in favour, 48% against) – suggesting that banks are far from confident that the branch can be done away with entirely.

A number of obstacles to modernisation were identified in the report. One of the biggest was the difficulty of getting a sponsor at boardroom level (71%). Another was regulation: 67% believe their bank is too busy with regulation and compliance to think about innovation and modernisation. Yet at the same time, regulation also appears to be prompting change, since 92% of respondents believe that modernising their systems and processes is necessary to comply with constant regulatory change.

The threat of new entrants and disruptive competitors rate highly in the responses. Some 77% of respondents recognise new market entrants such as Google and Apple as a real threat that could steal their customers. Most respondents (56%) also felt that the digital only banks like Moven, Simple and Frank are a serious threat. However, the presence of new challenges is not necessarily seen as entirely negative – fully 88% of banks believe that new market entrants have a positive effect on the traditional banking scene by keeping banks focused.

Source: Banking Tech

————————————————————————————————————–

The Cloud World Forum will take place at Olympia Grand in London on the 24th – 25th June 2015.

It will feature 300+ speakers, many of whom represent the financial sector, including Thomas Naylor, CIO, Salamanca Group; Oliver Bussman, Group CIO, UBSJohn Finch, CIO, Bank of England and many more.

Don’t miss the chance to take advantage of all the knowledge and networking opportunities presented by EMEA’s only content-led Cloud exhibition.

Register for your FREE exhibition pass here!

CWF static banner

 

 

 

Exclusive Interview with Liam Quinn, IT Director of Richmond Events

1c061f4Session: Cloud as a Utility: Working Seamlessly Across Public & Private Clouds

When: 24th June 2015, 12:05 – 12:25

Where: Employee Experience Theatre

Liam Quinn is IT Director of Richmond Events, pioneers of the one-to-one, pre-scheduled strategic business forums, aiming to match buyers with sellers.

We took a few minutes with him to talk about the challenges and status of Cloud specifically in the events sector, and the importance of SaaS versus IaaS and PaaS.

The interview…

So just to kick off, what do you feel are the unique challenges you face in the events sector?

Our challenges really are two-fold.  The first one we have is the fact that there’s an explosion of technology at the moment within the industry. The challenge lies in trying to work out what is good, helpful technology that’s going to enhance the experience of our attendees, and filter out the stuff which is really a lot of hype or, good today but maybe not very useful in the future.

In terms of our part in the industry, being a multinational organization, we’re operating events in four different countries to a consistent and very similar model.  So trying to make sure that we have the right technology in place that can support all four different business models is a challenge.
In terms of cloud technology specifically, how do you see the status of it in your sector in 2015? Do you feel it differs from other sectors? 

It’s hard to believe we’re very different to anyone else, but that may be a naïve way of looking at it.  I think the cloud is impacting the sector in two ways.  First of all, there are many software solutions that are being developed at the moment and being pushed within the marketplace, which are very cloud-based. So the economies of scale are there, and the price per event or price per attendee is very low. These systems are utilizing the cloud model in order for these software solutions to be implemented across every event organizer who wishes to use it.

The second place, which is where we come in and a lot of our foreign competitors, is whereby people are trying to consolidate their internal IT systems in order to provide a much more cost effective base for providing IT support to the business itself.
Leading on from that, would you therefore say SaaS is more imperative than IaaS or PaaS specifically for the events sector?

I think from a third-party solution perspective, most of the solutions being used are SaaS.  I don’t think event organizers want large IT teams, or want to be developing their own software.  So there’s a lot of software out there.  What they want is to consume it in any way they desire, in any location and that’s why they’re looking for software solutions available that they can just tap in, log in to, and work for their event.  We differ from that slightly in that all our systems are actually bespoke written for ourselves.

Download the full interview here!

Join Liam at the Cloud World Forum at London’s Olympia on the 24th of June for his session: Cloud as a Utility: Working Seamlessly Across Public & Private Clouds.

Don’t miss the chance to take advantage of all the knowledge and networking opportunities presented by EMEA’s only Cloud & DevOps exhibition.

Register for your FREE exhibition pass here!

CWF static banner

 

Tag Cloud

%d bloggers like this: