Singapore-based DBS Bank has become a top-ranked bank globally driven by its successful digital transformation initiatives, focus on sustainability, and high-quality customer service. DBS has managed to maintain its competitive edge by embracing digital innovation and staying at the forefront of the rapidly changing financial landscape. DBS kicked off a purpose-driven digital adoption agenda in 2014, laying out a five-year roadmap that coincided with the rise of fintech and the earnest start of digitalisation for financial services. DBS Group CEO and Director, Piyush Gupta, set the lofty aim of being named the best bank in the world on the back of an ambitious digital strategy. By 2018, the bank was already winning multiple awards and earning a reputation as the best bank in the world – two years ahead of the five-year plan. Since embarking on this transformation process, adopting digital has become something of a necessity for traditional banking and many financial institutions have sought to emulate DBS’ tactics, with mixed success. A Singapore Management University (SMU) study published by Harvard Business School analysed the three waves of purpose-driven transformation the bank went through: overhauling the bank’s systems, upgrading employee skills, and re-centering its customer focus, with the […]

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By Romi Mahajan, President, Pepper and Dharmesh Godha, President, Advaiya No concept has animated technology and business circles more in the last decade than “Digital Transformation.” The idea is simple- traditional organizations need to replace analog products and processes with digital ones, heralding a new world of work, engagement, innovation, and growth. While the idea is enticing, the path to get there is fodder for much debate. This debate has led to many “how-to” articles; in reality, even practitioners who have presided over Digital Transformation journeys can point to a variety of paths. But they can agree on one thing- the first step is to make the decision to do it and to prepare the organization culturally. So the tactical first step is really the second step. We offer one idea as to what the right second step might be. Of course with all DT journeys, context is king. But, given the vagaries of risk and reward, we post that “Peripheral Automation” is the right starting point, after the cultural decision has been made. Let’s unpack this. All organizations, even with a basic IT infrastructure, have core elements of the business and ancillary elements, and in keeping with this […]

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Follow us on Image Source : FILE PHOTO File Photo for representation only. Over the past few years, the adoption of the digital execution of documents has increased dramatically. However, widespread adoption at scale is hindered by a big accessibility gap between technology and the end customers of banks and microfinance institutions, especially in rural areas. Out of the 140 crore population of India, only 15 per cent or fewer Indians are comfortable and can understand documents in English. Local users gain confidence in navigating through documents without assistance when an English document is available to them in their local language. As per a study, 63% of local language users would prefer to read and access documents exclusively in their regional language. To help scale up digitisation of paperwork processes, especially in the micro-lending and banking space, Leegality, a document infrastructure platform, has launched Local Language eSign Interfaces. This curtails the time of paperwork and can sign everything in minutes. Shivam Singla, founder, Leegality, said that microfinance institutions and banks are embracing digitisation of paperwork in a big way but the lack of coverage poses a challenge. "It is important to plug this gap. With the new interface, businesses […]

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Currently most of the organizations across the industry verticals are trying to be more innovative and build digital platforms to better respond to customers as well as dynamic market changes. They are expanding their usage of cloud to maintain their competitive advantages, accelerate the innovation and transform interactions with customers, employees, and partners. So, the Hybrid Multi-Cloud strategy is a major driving factor in enabling digital transformation as migrating to the cloud involves technical, operational, and cultural changes in an organization. A hybrid multi-cloud Approach ensures flexibility, Agility, inclusive and Sustainability considering ever changing customers unresolved business needs or make seems customers’ journey. The Hybrid Multi-cloud architecture empowers organizations to distribute their workloads across multiple cloud environments so they can get the biggest bang for their buck while mitigating risks associated with individual cloud environments. Hybrid Multi-cloud is a very popular cloud implementation strategy consisting of at least one private cloud and two or more public cloud architecture. The Hybrid Multi-Cloud Architecture avoids vendor Lock-in and achieve global regulatory compliance. It also guarantees agility, interoperability, and flexibility between different cloud environments. The advancements in the field of RESTful APIs, containers & Kubernete platforms have helped in modernizing legacy applications […]

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MANILA, Philippines, February 21, 2023 –( BUSINESS WIRE )–QualityKiosk Technologies, a leading independent quality assurance provider and digital transformation enabler, is helping AIA Philippines navigate the challenges and opportunities of the digital age and future-proof its business in a rapidly evolving and highly competitive insurance market. In line with this effort, QualityKiosk Technologies organized the AIA Industry Day 2022, a two-day event featuring more than 20 informative and inspiring sessions with keynotes, Forrester analyst sessions, and fireside chats. C-suite executives from AIA Philippines and QualityKiosk Technologies, as well as renowned insurance industry experts and Forrester analysts, came together to discuss the key challenges, research findings, analyses, future trends, predictions, insights, and solutions disrupting the digital insurance future. The AIA Industry Day also celebrated the partnership between the two organizations as they co-create and implement the best practices and technologies to support AIA Philippines’ digital transformation goals. QualityKiosk Technologies is committed to helping the insurance leader gain a competitive advantage, improve process efficiency, enhance business agility, embrace new business models, and boost collaboration and employee productivity. Maneesh Jhawar, CEO at QualityKiosk Technologies, stated, "The AIA Industry Day is a one-of-a-kind conference experience where insurance experts and thought leaders came together […]

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Roc Bai, VP: Huawei Cloud Southern Africa. African organisations now have an opportunity to leapfrog the rest of the world, moving directly into a fully digital era. However, they must advance through their digital transformation journeys now. This is according to Roc Bai, VP: Huawei Cloud Southern Africa. Bai says: “The digital evolution brings a new way for humans to interact with the world. Today we live in an era of data-driven development and companies that fail to keep up with the progress of the times will fall behind and become obsolete. The development of the information society in many African countries lags the progress made in other regions in Europe and the United States, making it important for them to fast-track development.” Bai highlights that organisations planning a digital transformation strategy should align with top digital transformation trends, including process automation, re-engineering and productivity improvements, in order to achieve operational excellence, enable a hybrid and remote workforce and deliver insights at scale throughout the organisation by building capabilities in data and enterprise intelligence. Successful digital transformation can create value for business in three key ways, he says: “Organisations that transform successfully deliver a better experience for customers, users, […]

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Physical Conference on 2nd March 2023 BANGALORE, INDIA, Feb 20, 2023 – (ACN Newswire) – The digital experience in India is set to take a major leap forward with IT Summit, Organized by Exito Media Concepts. ACN Newswire is one of the official media partners of the 16th Edition of Digital Transformation Summit India, taking place on 2nd of March 2023. The 16th Edition of Digital Transformation Summit India is taking place on 2nd of March 2023. The summit will bring together senior government representatives, thought leaders, and leading industry experts to share their knowledge and experience on the latest technologies and trends shaping the industry. The Summit is being held under the theme ‘Advancing Innovation in Digital India’ and will underline the need for innovation and performance for the world to look at India as the next technology hub. Attendees will have the opportunity to learn from keynote speakers, participate in panel discussions, and network with other industry professionals. The event will highlight the various emerging technologies like 5G, Metaverse, Web 3.0 and others helping in transforming organizations into digital businesses, providing customers with a digital experience and incorporating a culture of information security within the organization. It […]

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The pandemic-era push to quickly boost digital touchpoints and services proved that transformation can happen fast. That has left a lasting legacy: Even as the pandemic recedes, enterprise executives continue to expect CIOs and their IT departments to deliver transformative capabilities at a rapid-fire pace. [ Learn from your peers: Check out our State of the CIO report on the challenges and concerns of CIOs today. | Find out the 7 skills of successful digital leaders and the secrets of highly innovative CIOs . ] If you think you’re keeping up, think again: One recent study from research firm Gartner found that the majority of CEOs (59%) say digital initiatives take too long and 52% take too long to realize value. The pressure is on to accelerate digital transformation, according to CIOs, researchers, and analysts. They say growing concerns about economic slowdowns and a possible recession only ratchet up the need for speed. Veteran IT executives and executive advisors offer the following 10 strategies that CIOs can employ to increase the velocity of IT work and the delivery of transformative initiatives. 1. Shed the legacy mindset CIOs have been shedding legacy technology for years, but Ken Piddington, vice president […]

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As per the report by Fortune Business Insights, the global Digital Transformation Market size is projected to reach USD 6.78 Trillion in 2029, at a CAGR of 20.9% during the forecast period, 2022-2029 Pune,India, Feb. 21, 2023 (GLOBE NEWSWIRE) — The Digital Transformation Market Size hit USD 1.51 trillion in 2021 and is slated to rise from USD 1.79 trillion in 2022 to USD 6.78 trillion by 2029, exhibiting a CAGR of 20.9% during the forecast period. Rapid use of cutting-edge technologies, such as AI, IoT, cloud computing, and others, is driving the global market share for digital transformation, says Fortune Business InsightsTM in its report titled, “Digital Transformation Market Forecast, 2023-2029”. Key Industry Development- In order to securely connect any item to the cloud and enable seamless integration with AWS IoT services, such as AWS IoT Core, AWS announced IoT ExpressLink. The developers would be assisted in overcoming technical challenges and reducing additional time to market using modules with AWS IoT ExpressLink. Request a free sample PDF: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/digital-transformation-market-104878 Report Scope & Segmentation Report Coverage Details Forecast Period 2022 to 2029 Forecast Period 2022 to 2029 CAGR 20.9% 2029 Value Projection USD 6.78 Trillion Base Year 2021 Digital Transformation […]

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The European Commission has today adopted a Communication marking the two-year anniversary of the creation of the Recovery and Resilience Facility (RRF) , the key instrument at the heart of the EUR 800 billion NextGenerationEU recovery plan for Europe. The Communication takes stock of the concrete results achieved so far through the RRF’s unprecedented double-push for green and digital reforms and investments in Member States. It also outlines further steps for supporting the continued successful implementation of national recovery and resilience plans. The annexes to the Communication clarify certain technical aspects of the way in which the Commission assesses Member States’ progress. President of the European Commission Ursula von der Leyen said: “Our recovery plan NextGenerationEU has become even more than a vital response to the COVID-19 pandemic. Two years after the creation of the fund, we have already disbursed more than EUR 140 billion and we overachieved our initial investment targets for the green and digital transitions. Now, with Russia’s brutal invasion of Ukraine and a global energy crisis, the fund has become a key element of our Green Deal Industrial Plan. It will support our Member States on the road to net-zero, with the additional financial boost […]

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