KMS Solutions Blog

In today's economic landscape of digital transformation, best-case customer experience is critical to business success - and, customer-centricity is indeed the key factor for competitive advantage. This is especially true for organizations in the sectors of BFSI (Banking, Financial Services, and Insurance), where the digital banking model is increasingly receiving mainstream adoption.

As a result, many banks are investing significantly in digitizing and optimizing their operational processes, including customer onboarding, with the ultimate aim of differentiating and leading the market.

Bankers are competing in a digital era where banking applications are their face to the public. Thus, user experience and user interface (UX/UI) rules all. While eCommerce (Shopee or Lazada) or even fintech startups (Google Pay or Momo) have embraced and even embodied this transformation, UI/UX in banking is not so much. Most banking applications are still poorly designed where the UI/UX is like a matrix that leads users nowhere.

In this article, let's explore the 20 best practices of designing UI/UX for banking applications.

Successful IT projects require a strong team of software engineers and other IT professionals. However, due to the shortage of IT talents in the local area, many companies do not have the necessary in-house IT team resources or time to build one.

Thus, it’s necessary that those companies look for a technology partner that can help provide them with a digital team of IT specialists to help with their projects, taking full ownership of the development cycle, or at any stage of the project.

Assembling the right digital team is of utmost importance for an effective IT development strategy such as digital transformation. So, who makes up your digital team?

A digital team can be built in-house or through the help of a trusted technology partner. Still, the rules apply the same when considering the criteria for selecting each member making up the team, including experience, skills and expertise, qualifications, teamwork ability, and so on.

In this article, we examine the anatomy of a digital team including who should be on the team and how to effectively build one.

Technologies such as mobile apps and cloud computing continue to transform the way people work and breed new models of workplaces. Thus, they help to drive higher levels of productivity and employee engagement. 

In this digital age, the line separating workers’ professional and personal lives becomes more blurred than ever. 9-to-5 is no longer the standard. And people now demand to work wherever and whenever they see fit. To accommodate this new way of working, businesses are seeking to build a digital workplace that enables remote collaboration and effortless employee experience. That means the nature of the workplace is changing: from a physical premise, it is now a digital environment that can be accessed from anywhere and at any time.

Digital transformation has been playing a crucial role to ensure business success in recent years. According to a recent article by TechTarget, the trends of digital transformation will continue from 2020 into 2021, except with a significant difference where businesses will begin to undertake proactive, strategic transformation initiatives, instead of just reacting to changes in a passive posture.

Today’s volatile BFSI climate demands agile Planning & Budgeting. If you still rely on static spreadsheets and paperwork, high chances are your financial plan and budget won’t be able to cope with the constant market changes: customer demographic, Fintech competition, digital innovation. To achieve agility, what you need is a Planning & Budgeting process that is fully digitized and automated.

Join us in this July’s webinar “Transforming Planning & Budgeting in Banking & FSI” where you learn the strategies and technologies to reduce your planning cycle, optimize resources, align Finance & Operations, and achieve lower TCO in the Planning & Budgeting process.

What is application modernization?

Application modernization describes the process of leveraging modern technology stacks to update/modernize older, legacy software applications, for newer computing approaches like cloud-based IT environments - to keep pace with the demand of the new digital economy. 

This is especially beneficial as applications modernization allows businesses to take advantage of the advanced technology progress, to update their software portfolio instead of having to retire such important legacy systems altogether, thus effectively protecting their financial and technology investments.

Due to the Covid-19 pandemic, the past year of 2020 and current times have imposed many changes, challenges, and opportunities on business organizations. 

Many companies have now realized that they do need to change and can indeed rapidly change, profoundly, in a matter of weeks if they have to. To achieve this, many businesses are turning to digital solutions, including digital applications and platforms, to allow for better management of changes and disruptions.

What is Business Intelligence?

Let’s begin the article with the basic definition of the term “Business Intelligence” (BI). In its simplest sense, business intelligence (BI) describes the leveraging of technologies and business processes and methodologies to manipulate and transform data into actionable insights, helping business organizations make informed data-driven decisions.

Specifically, through various stages of data collection, data formatting, and careful analysis, and so on, along with the use of data infrastructure, tools, and visualizations, companies can get a comprehensive view of their current business state, delivered directly from executive to management of operational teams.