SMACing the bank : how to use social media, mobility, analytics, and cloud technologies to transform the business processes of banks and the banking experience /
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| Author / Creator: | Raghunathan, Balaji, author. |
|---|---|
| Imprint: | Boca Raton, FL : CRC Press, Taylor & Francis Group, [2018] |
| Description: | xxii, 322 pages ; 24 cm |
| Language: | English |
| Subject: | |
| Format: | Print Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/11374155 |
Table of Contents:
- Foreword
- Acknowledgments
- About the Authors
- Introduction
- Chapter 1. Digital Transformation of Banking: A 30,000-Foot View
- Shift of IT Investments in the Banking and Financial Services Sector
- Drivers behind the Increased Adoption of SMAC Technologies by Banks and Financial Institutions
- Singularity and the Rise of Smart Digital Assistants
- Consumerization of IT
- Democratization of IT
- Reduced Cost of Computing
- Digital Natives and Their Entry into the Workforce
- Rise of the Digital Consumer, and Prosumer
- Race between Enterprization of the Consumer and Consumerization of the Enterprise
- Rise of Open Source Technologies
- API Economy
- Banking the Unbanked
- Benefits of SMAC Adoption
- Foundation for Digital Transformation
- Productivity Gains, Operational Efficiency, and Automation
- Customer Intimacy and Entry to New Markets
- Challenges and Impact of SMAC Technologies on the Financial Sector
- The Rise of Fintechs
- Disinter mediation of Financial Services
- Aggregators
- Culture and Mindset Change
- New Competitors
- Shift in Business Model
- Financial Technology Evolution
- Conclusion
- References
- Chapter 2. SMAC Primer
- SMAC Era: the "Coming of Age" of Web 2.0
- Social Primer
- Power of Social Networks
- Socially Mature Enterprises
- Social Media Management
- Integration of Social Media with Enterprise Systems
- User-Generated Content and Collaborative Tagging
- How are Banks and Financial Services Organizations Leveraging Social Media?
- Social Shopping and Social Sharing
- Social Technology Ecosystem for the Enterprise
- Social Network Analysis
- Reference Architecture (for Leveraging Social Media for Enterprise Benefits)
- Mobility Primer
- Mobility Challenges
- Mobility Strategy
- Mobile Payments and Wallets
- Mobility Reference Architecture
- Analytics Primer
- Challenges Faced by Chief Data Officers
- Developing an Enterprise-Wide Integrated Analytics Strategy
- Reference Architecture for Analytical Applications
- Cloud Primer
- Ignoring Cloud Computing, the Prescription for Shadow IT
- Engaging Cloud Computing Infrastructure Providers
- Consuming Cloud Computing
- Underneath the Cloud
- Server Virtualization
- Desktop Virtualizalion
- Application Virtualization
- Storage Virtualization
- Containerization
- Cloud Strategy
- Cloud Reference Architecture
- Applicability of SMAC across Various Banking Businesses
- Conclusion
- References
- Additional Resources
- Chapter 3. Digital Innovations for Employees
- The Degree of Relevancy of SMAC Technologies for Today's Financial Enterprise
- Drivers behind the Use of SMAC Technologies in Today's Financial Enterprise
- Catering to the Demands of the Digital Workforce
- Anytime, Anywhere, Any Device Access to Enterprise Information
- Real-Time Collaboration and On-Demand Access to Experts
- Faster Decision Making
- Gamification
- SMAC and Digital
- Digital Characteristics
- Prerequisites for Digital Enablement of Employees
- Security Infrastructure
- Process Automation
- Virtualization
- Digital Workplace
- Conclusion
- References
- Chapter 4. New Partnership Models: Digital Platforms and APIs
- Rise of the New Market Segments
- Long Tail Economy
- Digital Consumer Economy
- Sharing Economy
- Serving the New Market Segments
- Partnering with the Ecosystem
- Partnership Models
- Business Platform Model
- Business API Model
- API Management
- Business Platforms versus Business APIs
- Addressing Needs of the Digital Consumer Economy
- Navigating the Digital Ecosystem
- Conclusion
- References
- Chapter 5. Digital Innovations for the Consumer
- Identifying "Moments of Truth"
- Influencing "Moments of Truth"
- Influencing ZMOT
- Influencing FMOT
- Online Tactics
- In-Branch Tactics
- Influencing SMOT
- Operational Engagement Tactics
- Service and Support Tactics
- After-Sales Advertising Tactics
- Influencing TMOT
- Designing the Customer Journey Right
- Measuring Customer Experience
- Customer Experience Transformation Strategy
- The "Engagement" Step
- The "Enable Customer Productivity" Step
- The "Enable Self-Service" Step
- The "Enable Personalization" Step
- Climbing the Digital Customer Experience (DCX) Success Ladder
- Enabling Transformation of Digital Customer Experience
- Customer Relationship Management (CRM)
- Marketing Automation Platform
- Customer Experience Management Platforms
- Analytics and Customer Insights
- Other Enablers
- Security and Privacy
- The Coming of Age of Marketing Technology
- Reconfiguration of Marketing, Sales, and IT Organization within the Financial Enterprise
- Desirable Habits for a Financial Enterprise for Enhancing Customer Experience
- It's All about Listening to the Customer
- It's Not Just Customers, but Even Leads (and Prospective Customers) Who Need to Be Understood
- It's All about Customer Centricity
- It's All about MOTs
- It's All about Seamless Collaboration within the Enterprise
- Conclusion
- Abbreviations Expanded
- References
- Additional Resources
- Chapter 6. Digital Transformation and Impact of SMAC Technologies on Culture, Thinking, IT Practices, Organizational Structures, and Governance
- Critical Success Factors for Digital Transformation Initiatives
- Short Release Cycles, Continuous Evolution, and a Minimum Value Product Approach
- Fail Fast Approach
- Partnering with the Ecosystem Players
- Opening up Hitherto Closed Systems to External Players through APIs
- Open Innovation
- Why Aren't Established Financial Enterprises as Nimble as the Fintechs?
- Inheritance of Legacy Systems
- Layers of Handshakes from Development to Deployment
- Stove-Pipe Architecture
- Partial Agile Adoption
- Coming out of "Too-Big-to-Change" Syndrome
- Changes to Software Development Methodology
- Tools and Automation: Vital Ingredients for the Agile Development Recipe
- Scaling Agile
- Integrating DevOps into Software Development Lifecycle
- Integrating Human-Centric Design Process into Software Development Lifecycle
- UX Design
- Service Design
- Design Thinking
- Changes to Architecture
- Two-Speed Architecture
- Shift toward Light weight, Decentralized Microservice Architecture
- API Management
- Instrumentation
- Being Cloud-Ready
- Changes to Teams and Organizational Structure
- The Rise of the CDiO
- Addressing Organizational Needs for Supporting Two-Speed Architecture
- Cultural and Mindset Changes Needed
- Conclusion
- References
- Chapter 7. 2020 Banking Trends
- Financial Industry 2020 Digital Trends
- From "Digital" to "Phygital" Banking
- Smart Branches
- Challenger Branches
- From "Anywhere, Anytime, Any Device" Banking to "Everywhere, Everytime, Every Device" Banking
- From Business Process Automation to Robotic Process Automation
- Borderless Banking and Decentralized Distribution of Trust
- Smart, Intelligent, and Autonomous Banking
- The Short-Term, Part-Time Employee
- More Opening of Data and APIs Due to Regulation
- From Omnichannel Experience to Optimum Channel Experience
- Business Clouds
- Real-Time Digital
- Conclusion
- References
- Appendix
- Index
