Human Beings or Data Source

Data Source vs Humans

Surprisingly where there is so much talk about customized offerings and personal touch, for firms and startups we are not a human being but a data source and we are treated in a similar way.
What website we clicked, what we are sharing on FB and twitter and many more data collection points that companies vouch can help in offering us just the perfect solution.
If a firm gathers my date of birth and starts offering me stuff based on my zodiac sign…how long would that sustain?
If really #datacollection have reached its heights of perfection in terms of customized offerings… I would like to see a mother-kid or father-kid relation growing with just the virtual connect…
The crux of the matter is..do not treat us as a data source…we are human beings…!

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Have you Tried Whatsapp Blogging #WhatsappBlogging?

 

whatsappblogging

I am in love with Whatsapp Blogging #WhatsappBlogging

 

In August 2017 when Whatsapp Introduced colorful text status update, I was like huh! But since last few days, I have started putting text message and I feel how #WhatsappBlogging is perfect for me.
Just imagine a text/image update that is valid only for 24 hrs, people who saw it are the chosen ones and the one who skipped it – are the lucky ones! [Pun Intended].

When Twitter started their operations, Continue reading

Digital Banking – Would it lead the Banks and Fintech to Merge or Conquer?

The world is under the spell of digitization! Just a decade back, when people were skeptical about making a transaction online, the recent reports are highlighting the mass adoption of technology into their lives. Sample these –

  • As per stats, the rise of Omni-digital banking customer has grown from 27% in 2012 to 46% in 2017.omnichannel

Image  Source – PWC 2017

  • As per a post from Yourstory, in India post-demonetization there was an increase in availing services like mobile banking, mobile wallets, other digital payment solutions like Sodexho, pre-paid cards and debit cards transaction on PoS.

Such a massive growth is a collaborative effort of fintech firms and banks.

So, could we say Digital Banking is dependent on fintech firms? Or Are banks dependant on their technology providers? Could we in future see banks more like regulators and fintech firms as an operating wing? With concepts like branchless banking, contactless banking evolving would bank be merged? Do we foresee fintech firm expansion that results in bypassing banks? To answer many such questions, we decided to come up with this post.

What is Digital Banking?

In layman terms – any of the banking services/activities when availed via digital/electronic mode is referred to as Digital banking. So, if you are using your e-wallet or logged in to your bank website for funds transfer or online shopping. In fact for banks like e-KYC or automation of opening a bank account are also some of the examples of digital banking.

The Present state of Digital Banking in India

In India, as per 2017 Oracle J.D. Power India Retail Banking Study, 94% of retail banking customers have visited the branch/store at least once in the past 12 months that signifies how services are availed via digital means. Only 51% of retail banking customers have a reliable online banking experience with their primary financial institution.

While individuals specified concern of security as the prime reason for non-usage of digital channels. The most surprising fact highlighted in the study was – ~94% of urban customer prefer Continue reading

Could Blockchain Help Content Creators?

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#Blockchain #Content
When content is used and translated to another language – does it refers to Plagiarism? Alternatively, it is merely Translation?
Similarly, if a music tune produced by guitar is then played via sitar. Would it sound the same or different? I feel except the sound the tune should be familiar … would that again be termed as #copied or #Plagiarized or not?

Is there a disconnect? While music is a universal language, the modes of producing it may differ and hence copying a tune raises the issue… on the other hand language is not universal thus copying same content and translating ina local language is not termed as Plagiarism…

Do you think #Blockchain could resolve an issue like that …could it make one copy of content[in words] and whether it is translated … only the first published text in a particular language stays as a master copy?
Anyone listening?

These Eight Cases Could Take Any Ecommerce/MCommerce Store to the Next Level – Are the Founders listening?

ecommerce

Yes, e-commerce is everywhere, and we are have made a steady progress within last ten years –

  • Real Time Tracking
  • Logistics have improved
  • Not just home deliveries but now you can pick your deliverable from any “Pick Up ”
  • Home Trials
  • Penetration to tier2 and tier 3 cities
  • Wide range of Payment options
  • Data Analytics Integration
  • Virtual Trial Rooms
  • 3D images

But what next? IoT Integration or Robots delivering the stuff?

Even before that, I see “gray areas” where improvements are needed. Are the Founders listening?

Case One – Gift Vouchers in different currencies.

Recently one of my acquaintances[India] received an award with a gift voucher from Amazon in dollars. Amazon India does not accept it, and finally, he had to let it go! Shouldn’t the gift vouchers be available in whatever currency you want?

Your friend is shifting to the US, and rather than gifting him with a Pressure Cooker, I would be more willing to gift him a Voucher in Dollars that could help him in setup his new home in states.

Case Two – Auto Execution Of Orders

 

I need to borrow the “Order Types” [where you can put a condition on the price or quantity and let the market decide whether order gets executed] from Capital Market to the e-commerce platform. Just, for example, Flipkart is running its grand Diwali sale for three days, and on an opening day, I need to catch a train. While yes, you can browse over your phone but still why should I worry, when I can put a condition that if the price is within these limits for the item, I want to purchase let me buy it. This kind of situation would help any individual and save their time.

 

Case Three -Global Items At Your Doorstep

 

Have you not called up your buddy to get a laptop from the US? I know people who also get some special chips from the US that are baked and have a vegetable puree. Or your distant relative who is returning from Holland to get you some fresh cheese!

Yes, Amazon opened their global store, but how about I could browse any location and get at my home delivered. A filter that sets the country like you set for language/Region and could then browse the items. I see two advantages of this – you could get items legally paying charges and secondly you know they would be authentic.

Case Four – What happened to my feedback?

 

You always send us a mail to be courteous and to help you improve if we could provide you with feedback. But even once have you acknowledged it? What happens to our comments? Do you bother to reply to those people who spent time and effort to provide you with feedback?

Draft a response, even if the feedback was not worth it, no matter how much automation and Artificial intelligence you put, personal experience is what counts and is cherished.

Case Five – How To Know You Are a reliable Store?

You might have seen consumer forum flooded with complaints against online store? So, who pays the price? How could a customer judge whether they are genuine and reliable? Apart from the trusted brands every web page or Facebook is flooded with advertisement about selling this and that. How do we know you are genuine? Do we need some regulations here? Or simply customer response is the only alternative?

 

Case Six – A Reward just for new registration but what about the loyal customer?

Most of the e-commerce hubs have attractive discounts for the newbie [ maybe that helps them to reach a minimum number of customer base] but what about customers who are loyal?

I remember during my childhood days when fix brick-and-mortar stores would offer Diwali/New Year gifts like a calendar or a box of sweets and made us stick to them.

Could the stores take the help from Data Analytics and offer “rewards” to loyal customers? Maybe once they reach 5k mark or once they have completed ten purchases? Or if you buy every month you get a top-up?

Case Seven – Need of  NOT Filter, the exclusion filter

Most of the sites come with a filter to include stuff, what if I want only that specific brand to be excluded and rest all in, I would need to click all the others. Just for example if I am browsing a phone and I do not want a filter that shows me ‘X’ brand phone and rest all should be displayed. It is quite painful to click all the brands just to remove one; there should be an exclusion filter as well it makes search easy.

 

Case Eight – Customer needs the bricks-and-mortar store experience with digital features

Have we thought of tracking the customer at a physical store may be via MAC ids or NFC and that could be used even for an online presence? Footfalls in stores can be converted to sales online. As a customer, I may feel a need to touch-n-feel the stuff, but buying could be done once the sale is on, so how do we track these analytics?

As the expert believe #onlineretail is still about customers and one of the customer is offering you a detailed feedback. Are you listening?

Banks Need to Be Centralized – Could Blockchain be the answer?

 

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Banks Need Centralization

 

The queues in banks have lessened, the digital transformation is progressing, few people are for banks getting redundant, and few believe banks to rise and serve as the operating system. However, I vote –  Banks to be centralized! And to some degree, Blockchain could help banks to achieve that.

Why Banks Need to Be Centralized?

Unlike olden days when data/information was maintained in the ledgers and files, now data could be cryptic and stored on cloud servers. So, if the account information that was fed in ABC city, why that can’t be accessed from XYZ city?

Thanks to globalization that customer is not at “one place” now. Continue reading

Cashe – The Cash Giving App #CashgivingApp #CASHeApp Review

cashe

Recent trend on twitter with #CashgivingApp #CASHeApp forced me to dig deeper about it and there I landed on Google Play Store page of @CASHeApp. After browsing all the tweets under #CashgivingApp my first thought was – Karza is so easy these days [Availing loan is quite easy these days].

The Launch of the App happened on 31-March-2016 at ITC Hotel and guess who was invited – Arjun Kapoor , who’s upcoming film Ki and Ka Continue reading