This new year has been enthralling due to the continuous inflow of new minds into Sankey family, this addition ensured that our office was constantly buzzing with energy & innovation. This buzz was also an indicator that we were outgrowing our office, within just few months of shifting into a bigger space!
To ensure our energy doesn’t turn into chaos Sankey Solutions rolled out the carpet for yet another office. Additional space is giving extra room for jamming sessions on and off work, this has further uplifted the innovative spirit while driving high synergy. Be it intense discussions, set of well fought game or sharing a meal together, nothing has changed except unfettered space to work.
Modern lifestyle barely leaves any room for healthy indulgence in a person’s routine; be it constant consumption of caffeinated products or easily available but unhealthy fast food choices. People rarely take time out from their busy schedule for something as important as their health. Work and other obligations consume most of one’s time and energy, pushing well being at back which should be given top most priority.
It so happens when we don’t look after our own well being, our family does it for us; similarly Sankey Solutions took a wise decision for the wellness of the whole team by participating in ‘Pune Half Marathon’.
Pune Half Marathon took place in the sports hub Pune, on 9th December where around 55 of our employees among 16,000 people from various walks of life including the celebrities of national and international importance actively participated; one of them being Dr. Jack Daniels (an exercise physiologist, who has been feted as the World’s Best Running Coach) was present to bust the misconceptions present around running, share vital tips, and to inculcate fitness as a habit amongst all the generations.
For us it was an excellent opportunity, not only to create appreciation among our employees for fitness but also to train them in natural environment for better collaboration amongst themselves. Nature lends her hand in calming the mind while exercising energizes physically, when both, the mind and body are in harmony, it instinctively motivates one to do their best.
What’s better than the whole Sankey family running collectively to raise awareness for Fitness & Health, this Marathon gave a boost to our team spirit and develop much better sense of purpose which cannot be done within concrete walls.
Being in Mumbai, our team took a trip to Lonavala, day before the event to be well rested and be ready to run for the simple cause of one’s better health. Uniformly dressed the fierce and happy faces were doing something out of the routine, with no stress for meeting client expectations or authenticating artificial intelligence, it was a day devoted to team and how marvelously we work when our goals are aligned.
The goal to participate wasn’t just victory but to work cohesively, test our abilities to reach possible potential, be driven and achieve the set targets, all of this in the most exceptional and enjoyable way possible. This is what we aim to achieve by progressive learning which yields to development at individual level.
This marathon was a shove in right direction to start with ‘Sankey Fitness’ for all our employees, an activity which helps us learn while having fun; It’s to keep them motivated and to create an atmosphere where there’s space for uninterrupted innovation and growth.
The automotive industry is currently in the midst of a profound transformation, with electric vehicles (EVs) leading the charge toward a more sustainable and eco-friendly future. As auto
In Chinese astrology, each year is related to a Chinese zodiac animal according to a 12-year cycle. Those who were born in the years 2020, 2008, 1996, and backwards are known as Rats. People born in these years are said to be optimistic and likeable.
However, in cybersecurity, RAT (Remote Access Trojan) stands for the polar opposite of likeable: a nasty tool used by bad actors. For many years, RATs have been used to remotely and covertly control victims’ computers. The cunning RAT can gain access to computer users’ files and hardware resources such as webcams and microphones, as well as act as a keylogger, data stealer, and launchpad for other malware attacks. Worse, the use of RATs in enterprise-level attacks is on the rise.
In this blog, one of our Sankians – Shubham Dhumal, a Solution Analyst will discuss the impact of this malware…
“As a tech enthusiast, I often receive requests for assistance with device-related issues. One such instance was when a relative approached me with a smartphone behaving erratically. The phone was automatically sending SMS messages, installing apps without permission, and opening undesirable websites on the browser, among other issues.
To troubleshoot the issue, I began investigating the device’s settings, paying close attention to any third-party apps with permissions that may be causing the problem. After some time, I concluded that the most effective solution would be to format the device. However, deep down, I knew that this was not merely an OS issue or a bug in an application; there was something else at play.
To address any lingering doubts and conduct a final check before formatting the device, I decided to install antivirus software from the Play Store. After installing the software, I initiated a scan of the device, and within a few minutes, the screen turned red and displayed a list of compromised applications. The antivirus software efficiently cleared and uninstalled all the compromised applications.
After completing this process, I asked my relative to use the device for a few days and report any similar issues. It is essential to ensure that the problem is resolved completely and that there are no traces of any malware or other malicious elements left on the device. Taking such measures can prevent the recurrence of similar problems and ensure the device’s optimal performance.
Out of curiosity, I searched for some of the listed malware during the scanning process and noticed that some of the listed malwares were Remote Access Trojans (RATs). Intrigued by this discovery, I delved deeper into the subject and learned that these malicious programs can enable hackers to gain full access to one’s phone. RATs can read and send text messages, access contact lists and call logs, record audio, and video, and even track the device’s location.
It was clear to me that having such malware on a device is a significant threat to personal, financial, and professional security. RATs cannot be installed or accessed directly, and usually require a host to execute the attack. Given the increasing sophistication of cybersecurity threats, it is crucial to take proactive measures to safeguard one’s devices and data from malicious attacks.
I asked my relative further to understand the reason behind the installation of such applications. He downloaded APK files from unauthorized websites and stores on the internet. His rationale for resorting to these sources was that they provided access to more advanced features and removed the limitations imposed by the original applications. It was then that I began to realize how these tactics work.
Essentially, attackers gain access to the original application files and modify them using specialized tools to unlock new features and offers, which are typically available for a fee. These modified applications are then distributed to unknown sources, tempting users with the alluring prospect of accessing these advanced features for free. It may sound like an attractive proposition, but it comes at a significant cost: the security and integrity of one’s device and data.
But there’s always another side of the coin worth talking about. There is another aspect to consider as to why someone would modify an application in this way. Modifying an application is an easy task, and it’s not much time-consuming at present. In some cases, attackers modify the application code and add a malicious piece of code, which acts as a host for executing malicious activities. This code can exploit the permissions granted by the user to the host application and gain access to sensitive data or other functionalities of the device.
Therefore, it is essential to exercise caution while downloading and installing applications, especially from unknown or unverified sources. Such practices can pose a significant risk to the security and privacy of one’s device and data. It is recommended to stick to trusted sources and official app stores for downloading applications, and regularly update the device’s operating system and security software to stay protected from potential threats.
The damage inflicted by a RAT can be severe, with significant impacts on personal, financial, and professional fronts. The attacker can steal sensitive information, compromise financial transactions, and breach confidential data, among other things. It is crucial to take preventative measures to avoid RAT attacks, such as avoiding suspicious websites and sources, maintaining updated security software, and regularly scanning devices for malware.
In addition to conventional data security practices, it is crucial to avoid utilizing cracked software and instead purchase authorized versions exclusively. Opting for authorized versions instead of free, cracked versions is a wise investment as the latter may result in several multifaceted payments. It is strongly advised to refrain from downloading applications from unverified resources and to exercise caution when utilizing unauthorized or modified versions of applications. It is vital to prioritize data security by taking such precautionary measures.”
In conclusion, the safety of our data is of utmost importance in today’s digital world. As individuals, we must prioritize cybersecurity practices to ensure that our sensitive information is protected from potential threats. Along with standard security measures, such as strong passwords and two-factor authentication, avoiding the use of cracked software and only purchasing authorized versions can significantly reduce the risk of a data breach. It is vital to stay vigilant and informed about potential threats to our data and take appropriate steps to mitigate them. By adopting a proactive approach to cybersecurity, we can ensure the safety and privacy of our data, and consequently, safeguard our digital lives.
makers across the globe gear up to meet the rising demand for EVs, advanced machine learning (ML) is emerging as a key enabler, propelling the sector into a new era of innovation and performance. In this comprehensive blog post, we will take an in-depth and technical journey into the transformative role of advanced machine learning in the automotive EV sector, examining cutting-edge technological innovations, and providing a broader perspective on the implications of this evolving landscape.
Personal computing’s definition is and has been changing to one that is much busier and more collaborative. This transformation, especially sped up by a pandemic, has been the perfect breeding ground for web apps to act as a center of activity. There is a dispute over whether having a single dominating browser would be advantageous for all browsers.
It’s worth noting that the engines we use now allow for a variety of consumer-friendly experiences.
The changing preferences of today’s digital natives’ alias millennials make it unarguably essential for organizations to ensure their consumers stick to their solutions. Especially tech startups where the majority are digital natives, fleeting in an information-overloaded environment, looking for swift solutions to chronic problems. This is proved by the demand for leading food delivery and local service brands. Today’s productivity nerds hustle and live their lives to the fullest simultaneously. To cater to their needs at an opportune moment is a must for the service industry in the tech space. Now is the time to also follow the legacy of super-apps for web browsers.
Is Chrome becoming obsolete?
The technology landscape is constantly evolving, and it is always possible for a new product or service to emerge that surpasses Chrome in terms of popularity or functionality. However, it is difficult to predict exactly what the future may hold, and it is important to remember that Chrome has a strong track record of adapting to new developments in the tech industry.
There is no proof at this time that Chrome will soon become obsolete. While it is true that there are some capabilities in other web browsers that Chrome may not have, this does not necessarily mean that Chrome is fading into obscurity.
In truth, Chrome has a solid history of consistently updating and enhancing its capabilities, and it continues to be a top choice for many users because of its speed, security, and extensive library of add-ons and integrations.
Additionally, selecting a web browser is frequently a matter of personal preference, and various users may favour other features or functionalities. Assuming that there will always be a market for a range of different browsers, it is unlikely that any particular web browser would become obsolete.
Google’s Dominance
Google Chrome is currently the most widely used web browser in the world, with a market share of around 68%. This has been the case for several years, and it is due in large part to Chrome’s reputation for being fast, user-friendly, and secure.
There are other web browsers available, such as Mozilla Firefox, Microsoft Edge, and Safari, but Chrome has consistently been the most popular choice among users.
Google’s dominance in the browser industry is also due in part to its integration with other Google products and services, such as Search, Gmail, and Google Drive. This makes it convenient for users who are already invested in the Google ecosystem.
It is worth noting that the market share of web browsers can vary by region and can change over time, as users may switch to different browsers based on their needs and preferences. However, Chrome has remained a dominant player in the browser industry for many years.
Consumer preferences
Factors that can influence consumer preferences in this industry include the availability of new features, changes in technology and user experience, and shifts in the overall market landscape. For example, if a new web browser is released that offers significantly better performance or more advanced features than existing browsers, it may attract a large number of users and cause a shift in consumer preferences.
Additionally, if an existing browser fails to keep up with new technological developments or fails to address user needs and concerns, it may lose market share to other browsers. Overall, the preferences of consumers in the browser industry can be influenced by a variety of factors, and it is important for browser developers to stay attuned to the needs and expectations of their users in order to remain competitive.
New Emerging Web Browsers
SigmaOS and Arc are examples of new and emerging browsers that are starting to disrupt the browser marketplace. These browsers are designed to offer a more user-friendly and customizable experience than traditional browsers, such as Chrome and Firefox. For example, SigmaOS is built on the open-source Chromium browser and focuses on providing a more streamlined and efficient browsing experience. It also includes built-in privacy and security features, such as anti-tracking and anti-phishing tools, to help keep users safe online. Similarly, Arc is a browser that aims to put the user in control of their browsing experience by providing a wide range of customization options and tools.
One of the keyways in which browsers like SigmaOS and Arc are disrupting the market is by providing a more personalized and tailored browsing experience. This is in contrast to traditional browsers, which often have a one-size-fits-all approach and can be difficult for users to customize to their preferences. By making it easy for users to customize and control their browsing experience, these new browsers are able to appeal to a wider range of users and are able to gain market share from more established browsers.
With the increasing amount of personal data being shared online, many users are becoming more concerned about protecting their privacy and keeping their information safe. Browsers like SigmaOS and Arc are addressing this need by incorporating advanced security and privacy features, such as anti-tracking and anti-phishing tools, to help keep users safe and secure while they browse.
In summary, browsers like SigmaOS and arc are disrupting the browser market by providing personalized and efficient browsing experiences and emphasizing privacy and security. However, they are relatively new in the market, it is yet to be seen how they will fare in the long run.
How tech plays a role
Technology plays a crucial role in the development and evolution of new browsers. Here are a few ways in which technology is driving the emergence of new browsers:
- Advancements in web technologies: As new web technologies such as HTML5, CSS3, and JavaScript continue to be developed and become more widely adopted, new browsers are able to take advantage of these technologies to provide a more rich and more interactive browsing experience. This includes features such as better support for multimedia, improved animation and graphics, and more responsive and dynamic web pages.
- Improved performance: With technological advancements in processors and memory, new browsers are able to run faster and more efficiently than ever before. This allows them to handle more demanding web pages and applications and provide a smoother and more responsive browsing experience.
- Increased focus on security and privacy: As the internet becomes an increasingly important part of our lives, the need for secure and private browsing has become more important than ever. New browsers are using technology such as encryption, anti-tracking, and anti-phishing tools to keep users’ data and privacy safe.
- Personalization and customization: With the help of machine learning and data analysis, browsers can provide personalized browsing experiences for different users by analyzing users’ browsing habits and preferences. This allows browsers to suggest new pages, features, and content to match users’ needs.
- Mobile optimization: With the increasing use of mobile devices to access the internet, new browsers are optimized for small screens and touch-based interfaces, as well as to use fewer data and batteries.
Conclusion
In short, technology plays a major role in the emergence of new browsers by enabling them to provide a faster, more secure, and more personalized browsing experience, as well as to adapt to the growing use of mobile devices. This allows new browsers to stand out in the market and to meet the ever-evolving needs of internet users.
Beyond that, the future is still somewhat uncertain. For the tech industry, the possibilities seem to be worth the risks. Web browsing is more popular than Facebook or Google, and windows and tabs are where most of modern life takes place. More than 25 years have passed since the definition of a browser was radically reevaluated. The open web is due for a comeback, and so is the web browser. And if any challenger can dethrone Chrome, it might contribute to defining how the next 20 years of existence will be.
When customers are accustomed to receiving food deliveries in 15 minutes and experiencing ultra-rapid 5G internet speeds, waiting a whole day for a transaction to complete becomes bothersome.
Traditional banking, the industry standard for hundreds of years, has drifted behind by today’s tech-savvy users. The obstacles that conventional financial institutions are currently facing include prolonged response times, security risks, and fixed business hours. And so, the fintech world came up with a solution: neobanks.
According to Statista.com, the market size of neobanks was estimated to be $35 billion in 2020, and it is anticipated that the market will expand at a CAGR of 21.26% from now until 2027.
Neobanks, in other words, will severely impact every aspect of the financial services industry.
Let us first understand what are neobanks.
Neobanks is a specific kind of challenger bank that only conducts business online. These are recently founded banks that are independent of major conventional banks. They can offer their services via mobile and desktop devices despite their absence of any physical branches. They mandate that all of their customers go through a digital onboarding procedure, typically on a smartphone. Neobanks can fall into one of two categories: those with a banking license and those without one.
Neobanks Vs Traditional Banks
Let us understand the basic difference between neobanks vs traditional banks. The traditional retail banking approach has failed to retain consumers since digitalization and the pandemic. Neobanks provide highly tailored services at cheaper prices by leveraging technologies like artificial intelligence (AI), automation, and cloud computing -something that traditional banks lack. Additionally, Neobanks’ unique digital presence is possibly their biggest edge over traditional banks. Neobanks benefit from lower operating expenses as they do not need to invest in infrastructure or physical branches. Neobanks can offer minimal or no fees and high-interest rates on deposits to their customers as a result, passing along these advantages to them. They can provide inexpensive international payments and money transfers since they exclusively use the internet to conduct business.
Technology’s Role in Neobanking
Technology has enabled Neobanks to become more successful, efficient, and innovative. It goes without saying that technology has aided Neobanks in cutting costs and enhancing customer experience. As a result that they are entirely digital, Neobanks can automatically collect transactional data, liberating resources for new services and goods.
Neobanks have evolved to improve the ability to realize their full potential by integrating the newest technologies, such as analytics, artificial intelligence, voice interfaces, etc. In addition to offering services around-the-clock, technology will also assist in locating solutions in much quicker and more effective methods. Technology would also make it easier to find relevant financial services, eliminating the delay.
Automation of processes:
The ability to do banking transactions online has been the most underrated change for customers. Neobanks have made it redundant to wait in line for hours at a bank branch to send money abroad. The transaction can be started in just five minutes, and you can monitor its progress in real-time from the comfort of your own home. Additionally, by digitizing the entire process, technology has allowed Neobanks to complete KYC, AML checks, etc. in a far more rigorous manner.
Technology-enabled design as brand edge:
Organizations in both the B2C and B2B sectors now recognize that design can be a powerful tool for building brand recognition. Artificial intelligence and Machine learning are connecting data and user experiences, while sleek user interfaces attract people and make the digital journey easier. Neobanks utilize these AI / ML technologies to forecast a user’s needs and offer specialized services or products by using personal data to create a personalized experience.
Future Trends
Neobanks would benefit as they move into the future by getting informed of trends and adhering to them. Neobanks’ ability to succeed more quickly might be accelerated by following the most current developments. A few trends that may help determine the future of Neobanks in the banking business are listed below.
- Banking Super Apps:
Super-apps are one of these customized tools which perform the task differently but effectively. Banking super apps demonstrate that consumers today are interested in more than simply banking. Choices made by consumers are now heavily interconnected. Neobanks have begun combining several services like banking, insurance, real estate, mobile payments, etc. under one platform and branding it a “Super-App” in order to cater to this need. These super-apps have special abilities. They place a high value on the demands of the customer, focus on those needs, and have excellent user experience design.
- Banking On Hyper-Personalization:
One of the determining factors for Neobanks in the future would be the ability to customize financial solutions to meet customer needs. Transactional data is in abundance at Neobanks. Neobanks might use their data analytics expertise to integrate with app analytics and transactional data to tailor their offerings to their customers. Neobanks can develop hyper-personalized data and improve their customer experience by using AI and ML.
- Advanced Analytics/ Predictive Analytics:
Implementing such digital capabilities can further improve the client experience. Advanced analytics evaluates the available data and delivers practical insights. Advanced analytics can analyze transactions, expenditures, and investment data from neobanks customers and offer a solution that could help the Neobank strengthen its points of strength or weakness. These data need to be utilized to predict the requirement of the future. Customers would benefit from the ability to forecast and gain from a new beginning. Additionally, this is not a one-time strategy. The Neobanks are gathering these data points to develop a useful understanding, specifically for the needs of future customers. This would include not only predicting but also personalizing the experience to the needs of the customer. And that would be the true future for neobanks and pure CX.
Conclusion
In conclusion, although banking has changed throughout the years—from cheques to demand draft to mobile banking to invisible banking to connected banking to digital banking—but the fundamental idea—that customers should be valued—remains the same. And Neobanking is the ideal solution for its tech-savvy customers, which attracts time and money savings. The future business model, market share, and commercial success of Neobanks are challenging to predict. Still, it can be anticipated that the banking industry will nevertheless face disruptive changes stemming from the widespread adoption of internet technology, and the rise of cryptocurrencies.
It is no longer surprising that the industrial sector is looking for a way to reimagine themselves in this competitive world. Every industry has embraced technological advances and is working to develop products that meet the demands of high-tech consumers. The banking and finance sector is one of them. Banks have been trying to incorporate AI systems for years in an effort to enhance customer service and beat off growing competition from upstarts outside the traditional financial services sector.
Artificial Intelligence has grown the evolution of the banking sector. According to a survey, AI will boost the banking and finance sector by at least USD 1.2 trillion by 2035. Presently, AI is helping to save costs for banks, and there is a prediction that by 2023, it will be worth $447 billion.
AI is more than just a driver of revenue generation and cost reduction. It is a result of how important it is in determining the banking landscape. Due to the rise of intelligent tools and numerous internet-connected devices, consumer demand is rising. People believe that the development of AI will provide them more control over their lives.
Banks and financial service providers are currently re-evaluating their offerings to better meet customer expectations. Predictive analysis plays a pivotal
Why Do Banks Require Use of AI With Predictive Analytics?
The AI bend has been triggered; thus, the emphasis is not only on the volume of data collection but also on its norm to derive useful insights. External variables include the many functions played by services, theft, security, corporate intelligence, uncertainty, consumer services, and more. It should now be seen as a network of interconnected functions where data is received in a hub-and-spoke configuration. Instead of using the present record-keeping systems, AI makes it easier to create these data centres. Banks must spend on creating consolidated data sets, which should contain meaningful, accessible, and contextualized data rather than just bytes of information.
Therefore, in the coming years, the potential of AI and predictive analytics will grow and continue to assist banks in making wiser decisions. By utilizing AI and maximizing the potential of their combined data sets. The following are some examples of applications of predictive analytics technologies in the banking sector:
Credit Scoring:
With the technological advancements, financial lenders can now lower their risk by utilizing a variety of client data. Relevant data is analyzed and distilled into a single value known as a credit score that represents the lending risk using statistical and machine learning. A lender might be more confident in a customer’s creditworthiness the higher their credit score. Credit scoring, a type of AI technology based on predictive modelling, estimates the probability that a customer will miss a transaction, become overdue, or be insolvent. The time it takes to assess a company’s financial situation is reduced by automated credit decisioning systems made possible by data-driven AI technologies. By examining a larger number of data points for a shorter period of time and producing quicker credit scores, it enables closer monitoring of its actions and creditworthiness.
Fraud detection:
The majority of laborious, time-consuming processes have been replaced by quick, convenient real-time payments as cashless transactions have evolved. But with many conveniences comes a surge in phishing, application fraud, identity fraud, and card skimming, among other online criminal activities. Using enhanced pattern detection, combining several analytics techniques can serve as efficient anti-fraud solutions and stop criminal activities. IDENCHECK and SHERLOCK by CRIF are two such products created by the Indian credit information business CRIF (Center for Research in International Finance). The former is intended to improve your current KYC verification procedures by giving you the ability to digitally check against public databases maintained by the government and other organizations, whereas the latter introduces a potent anti-fraud solution that simplifies it than ever to identify and look into application and identity frauds.
Collections:
Given the number of customers who frequently miss payments, collections have become a crucial operation for banks. What is required, however, is the proper harnessing of energies i.e., by streamlining the collections process, predictive analytics enables banks to properly differentiate between the various portfolio risks. It supports defaulting
Cross-selling:
Where there are several products available, effective cross-selling of products can be achieved by examining the existing customer behaviour patterns. With the assistance of this study, banks will be able to target their sales and marketing efforts and determine which specific products should be sold to which customers. And all of this leads to cross-selling that is more effective, boosting revenue and improving customer relations. Cross-selling another product to an existing customer is very beneficial because it might be difficult for banks today to retain one profitable customer.
The possibilities listed above represent just a small portion of what banks can accomplish with predictive analytics. Banks should recognize the significance of data science, implement it into their decision-making, and create strategies based on valuable insights from their customer data in order to acquire a competitive edge.
Conclusion
A new realm of the FinTech sector called predictive analytics in finance has the potential to significantly alter how data analytics is currently done. Real-time predictive analytics technology is already being successfully used by many businesses to improve their understanding of client demands, internal processes, markets, and other factors.
We all are aware that every bank’s journey toward digitization will be different because every institution has different problems that necessitate different solutions. Customers are becoming less tolerant of opaque procedures that take weeks to complete in the age of immediate approvals and one-click internet ordering. Using cutting-edge technology to understand your customers and anticipate their preferences, the system anticipates certain outcomes in order to better maximize conversions, engagements, and retention. The development of predictive analytics solutions using effective Big Data processing, Artificial Intelligence, and Machine Learning technologies is one of the many fintech development services provided by Sankey Solutions.
When new tactics overpower old traditions, the explosion of influence occurs automatically. Likewise, addressing the Fintech industry, a medley of financial industry and technology has thrived so far; bridging the hill, bringing in profits, and achieving huge heights. Former traditions like financial services and banks have backed themselves up by taking off to a technology-savvy Fintech industry based on a business model, providing financial services which comprise payment investments and lending services. This approach is followed by the whole nation making it efficient, safe, and better. Talking about the trading and investment companies who have augmented their service portfolio by inculcating several technologies launching day by day as the Fintech market blushes. People in banking tracts, trading & investments have acknowledged that technologies like artificial intelligence, big data, cryptocurrency, and blockchain have altered the topography in investment management, risk mitigation, and optimizing portfolios.
AMCs-Fintech white labeling
For financial institutions, it looks hard to play in the saturated market of Fintech where technology is already enough to conquer the market profit and fulfill the customer’s needs. In this case, when organizations are looking to cultivate their product or service, they white label it with a desirable tech company to lessen the cost and intensify the brand awareness to the targeted audience. A diversified approach to innovation and the ability to test value can fill the service gaps of these AMC’s by including Fintech services in their business model.
Fintech Partnering with AMC’s
This kind of partnership alleviates the resource building of one company that cannot make a profit in this market. To pull this company up, the investment unions have concentrated on partnering or collaborating with Fintech innovation to solve the challenges of procurement like integration, culture misalignment, risk management, synergy, time, and fund management. This trend is anticipated to accelerate in the future. This partnership can bring abrupt speed for people to adopt alternative lending platforms with the benefit of evaluating Opportunities.
Many Fintech companies around the world have shaped the nation with their powerful technological resources. These industries bring new-fangled solutions to the market which have acted as a barrier entry to other financial service providers. However, lack of technology can be a great reason for institutions to get acquired by technology-rich unicorns.
Asset management companies to include Fintech solutions
Still, there are innovators and leaders belonging to the AMC world inculcating innovative services with ingenious technology like text analytics, natural language processing, algorithm trading, cryptocurrency IoT, and other solutions.
Let’s understand some of the technologies in short!
Data analytics
This form of technology includes the use of types of computer programs for analyzing and deriving the meaning to help implicate the indicators of future performance of the company by assessing consumer sentiments and other analytics.
Natural Language Processing
It is a space for research that happens at the intersection of computer science and artificial intelligence which helps to interpret the human language and results in providing useful insights about the trends, interest rates, policies aggregate, output, and inflammation expectations of the business.
Algorithmic trading
This type of innovative trading is a computerized buying and selling of financial methods in pre-specified rules and guidelines set for execution. Also, high-frequency trading is a form of algorithmic trading that helps to design vast quantities of granulated financial data to place trades automatically when the condition arrives.
Cryptocurrency
This technology ensures that safe and verified payments transpire during transactions off summing dollars to cut off the labor-intensive tax for accounting. Cryptocurrency has fostered a Fintech offshoot in AMC’s hence this technology can benefit Fintech.
With these technologies in hand, the investment market has sophisticatedly enhanced financial services such as investment, financial advisory, and product comparison. View to which there are high chances of customers getting habituated with services that are digital, mobile-friendly, and interactive. The traditional wall is not yet over. There are founders in the financial sector who are lingering behind and have to rethink the depth and the scope technology brings with them in order to stay competitive and survive in the market. Thus, exchange demands the nexus of trends and developments to resolve the financial issues in terms of their several services and features. Foreseeing the growth, asset management companies can result in lowering the transactional costs of financial services, as well as relying entirely on digital access. Henceforth, businesses and consumers both incur gigantic benefits from offering these individuals effective financial services by turning or adopting Fintech practices.
If this topic interests your time and you are an AMC looking forward to enhancing your service portfolio, contact us for more information.
Evolution in Technology
Evolution in Technology is fascinating! In simplified terms, “Evolution is Change”. It brings a change in social dynamics and human life as quickly as the swing of a magic wand from Harry Potter.
We as homo sapiens have come a long way from evolving as a biological life form, but the evolution that is overlooked in many senses is the growth in technology. We have achieved throughout the decades with many noteworthy and remarkable people contributing to this change.
I personally love this representation of evolution with the perspective of technology immersed within. How we came from the plantation and hunting for food to building civilizations, industrialization, automation, to socializing etc. We all can notice the human energy spent, getting reduced in proportional to evolution and time, all thanks to technology.
I envision a world where people won’t have to do most of the repetitive & mechanical work and all that’d be left for people to do will be live and explore life while being creative in work. What a beautiful imagination!
Quantum Computers
After throwing my opinions on evolution, now let’s untangle the concept called as Quantum Computers. I’ll gracefully tell you why Quantum Computers could be the next step to evolution. To gain your attention, here’s a quote from a pretty popular person in the technology world
What is Quantum Computing and How is it different from normal computers?
To help answer this question, let’s understand a well-known paradox widely known as “Schrodinger’s Cat”
Schrodinger’s Cat is a thought experiment in which a cat is placed in a sealed box with a radioactive source and a poison that will be triggered if an atom of the radioactive substance decays. Quantum physics suggests that the cat is both alive and dead (a superposition of states), until someone opens the box and, in doing so, changes the quantum state. Quantum Superposition is a system that has two different states that can define it and it’s possible for it to exist in both.
Quantum entanglement is the state where two systems are so strongly correlated that gaining information about one system will give immediate information about the other no matter how far apart these systems are. The outcome of the measurements on the individual qubits could be 0 or 1(Cat is dead or alive). However, the outcome of the measurement on one qubit will always be correlated to the measurement on the other qubit.
Computers used today can only encode information in bits that take the value of 1 or 0—restricting their ability. So, basically every operation we make on a computer and the internet is processed in the language of 1’s and 0’s.
Quantum Computing, on the other hand, uses quantum bits or qubits. It has something (a particle or an electron), for example – that adopts two possible states, and while it is in superposition, the quantum computer and specially built algorithms harness the power of both these states I.e., the unique ability of subatomic particles that allows them to exist in more than one state (a 1 and a 0 at the same time).
Quantum Computers – Evolution, not a Myth!
Superposition and Entanglement in quantum physics are the fundamentals that empower quantum computers to handle operations at speeds exponentially higher than conventional computers with much lesser energy consumption.
Quantum Computing can solve specific problems with lesser energy which will open gates for new revolutions helping reduce the need for human efforts. Trending applications include running simulations and data analyses, such as chemical or drug trials.
Google has been spending billions of dollars on its plan to build its quantum computer by 2029. Hence, in my opinion, Quantum Computers are here to stay!
To Conclude:
Imagine going back a century in time and telling a person that in the next 5-6 decades, he/she will be able to communicate with a person in a different part of the world. You’d be ignored and laughed at. Now similarly, imagine a person coming to you from the future and laughing at your job while bragging that it is done by computers in the future. How would you react? ?
BLOG BY: ROHIT HEGDE
Technology! Definitely, it’s not something we can turn a deaf ear to. Every company found their varied tech fondness in respective fields. Entering 2022 and rolling the curtains of the online boom, the traditional supply chain has come to a halt. Old methods possessed bizarre ways of supply, messed up inventories, and unsatisfied customers. Making the whole of the supply chain and its management cost-efficient, the companies need a powerful combination of technologies and human resources. Working in the supply chain can involve many roles at a time like working under managers and buyers for fetching the right products, proper communication with the customers and suppliers, risk mitigation, and many more.
These channels and operations need thorough leadership of human resources and high support of technologies to make them victorious. The foundation for intelligent supply planning has gained significance as the concentration on technological improvements and shift in consumer standards has intensified. Organizations might build end-to-end logistic solutions, hasten procedures, and alleviate the risks in the supply chain.
Every role in the supply chain and E-commerce market expects automation. Here are some of the technologies and strategies binding their threads around the respective roles in this industry.
Effective information management
Knowledge management effectiveness could perhaps assist an organization in delivering its service to users undergoing operational obligations. Punctual distribution, lower inventory levels, order status, shipments and expediting, order efficiency, order thoroughness, consumer pick-up formation, forwarding opportunities and product substitution are prioritized by organizations with the support of this technology.
An ecosystem of connected devices
This characteristic of IoT has raised the caliber of how we manage supply chains in our businesses. From raw material purchases to payment security, all are operated expansively. By adopting IoT for logistics and operations, the journey to develop and set up the analytical strategies for polishing operational efficiency, product manufacturers relied arms on this tech. To read more about IoT and connected devices check out our blogs and case study.
The way organisms and environment are interconnected and create an ecosystem; likely on that route, our world of technology mentors us to understand several relationships between these wholly connected devices. Consequently, everything results in a dynamic transformation. This ecosystem; connecting IoT analytics and humans, helps the engineers to avoid delays and supply chain miscalculations, also simplifying manufacturing complexities.
Radio Frequency Identification (RFID) chips
Radio frequency identification systems, barcodes, and lasers are all important pieces of technology that may assist the company in a variety of ways. RFID chips or barcodes, for example, may be embedded in every commodity, enabling organizations to track inventory effortlessly. With automated product management, this system enables organizations with a high and dramatic increase in supply chain efficiency, thereby it helps to recognize any transaction irregularities as events arise, permitting professionals to correct inaccuracies and eliminate defects promptly. This technology also enables speedier and much more reliable traceability across the distribution network, offering comprehensive transparency and control over components.
Digital order processing system
The logistics management game’s nerve is the order fulfilment system. The system of the public that starts the logistics activity is offered by customer order. Consumer damage or exorbitant shipping, stocking, and packaging cost, as well as conceivable production damages caused by repeated impact on the production line, can all be traced to the costs and improvement of overall interaction. Hence, supply chain management and corporate management information systems are built on the premise underlying order processing and data systems.
Organizations are reconfiguring their activities to fit the new paradigm of electronic commerce. Therefore, ERP systems, purchasing datasets, warehousing, electronic data interchange (EDI, business to business electronic commerce), and electronic data interchange (EDI, business to business electronic commerce) are all contemporary advancements in green supply chain management.
Smart integrated operations
Implementing Smart Connected Operations motivates the vision to describe what the company should look like with its supply chain and production line. This provides the consumers with a hassle-free and convenient operational structure for managing AI ops, devices, IT operations and field businesses, further ensuring cost efficiency. The SIO is a scalable key that can handle millions of endpoints and unfold new revenues for the company. Connected products by digitalization is an example of engaging customers by serving a seamless user atmosphere with modern advancements in SCM [Supply chain management]
Artificial intelligence
In logistics, artificial intelligence is assisting in the delivery of the powerful optimization skills necessary for more precise production scheduling, improved efficiency, excellent quality, lower prices, and higher voltage, all while nurturing healthy and safe working conditions. However, talking deeper, one of the most challenging things in the supply chain is to maintain the optimum stock levels for avoiding the common ‘stock out issues’. For aiding this, AI and ML formulate to predict future demand of the products based on customers’ needs. When companies become familiar with the forecasted demand and supply through these technologies, their issues of being stocked out ends there.
Blockchain
Nevertheless, in logistics management, the idea is to allow a limited fraction of trusted entities to simply trade among each other while strengthening security, guaranteeing contract performance, and cutting costs. This technology helps to measure distribution networks, supply quantities, shipping documents, and many other items. Not ending here, Blockchain also assists to optimize small business financing by removing unpredictable sources and risk factors, henceforth resulting in full transparency of financial records and speeding up the processing.
You don’t spend on technology, you invest. This is what technology and supply chain merger outcome symbolizes;
- Positive and profitable cash flow
- Best predictive strategies
- Organized channels of Inventory, supply and demand
- Real-time deployment
- Virtual visibility on logistics.
- Owning control over the inventory
- Saving operating costs
- Surpassing the competition
- Improved warehouse efficiency
Note that the most efficient supply chain results in customer satisfaction and retention. Once you find your compatible technology, the above-mentioned results don’t look hard to achieve. Let’s talk numbers? The benefits of technology in supply chain management directly affect your company’s certain customer success ratios.
These numerical and practical benefits aided many E-commerce and other businesses in the race.
As a corollary, proper utilization of organizational information systems and technologies that are integral to logistics is the need of an hour. Concluding here “Innovation is the dazzling ball where every solution to our problems exists,” although, at the end of the day, it will have to either address business challenges or equip the organization to pursue a unique chance in the market. ”
“Everything boils down to robustness and the quest of emerging technologies.”
Your patience to read this showed curiosity on how you want to get benefit from technology in your supply chain management. We are here to serve you right; visit our page for matching your needs to grow the business.
Unexpected episodes of modernizations came in the show when handbooks, notebooks, and classrooms shifted online, especially post COVID-19 pandemic. Further, the nomenclature; EdTech, a modern instance in the educational sector growing from 2013, brought enthusiasm into students for learning digitally. Enriching access to tech-based infrastructure, electricity, and affordable internet it proved its ground to be substantial for laymen usage.
Adopting every fresh technology made people realize that nothing in this world exists problem-free. New technologies usually encounter a list of problems at first. But the solutions are always in the bag of the technologists like Sankey Solutions. Currently, the industry is poised for exponential growth, with over 4,500 start-ups and an estimated market value of $700 million – projections predict a market size of $30 billion in ten years. However, the ASER report 2020 found that the primary reason for children not having access to learning materials was the school’s inability to send them home.
Furthermore, grinding major problems in EdTech like the speeding problem, insufficient internet access, login problem, security alert, causality in ethics and norms, the unacceptable behavior of parents and teachers towards this industry, data collection and security and analytics and AI.
These dilemmas are appearing to be solved by many upcoming startups, existing companies due to which the probability of the EdTech market shall hit $4 billion by 2025.
Sankey Solutions, a technology niched driven company full of innovative flowers blooming in which seems capable to repair all the loopholes and present the best formulated ways to the founders falling in this industry. Contact here to book a session with our EdTech consultants.