Top 8 Technology Trends For 2021

Top 8 Technology Trends For 2021

14. June 2021|In Technology|ayushi goyalBy ayushi goyal|8 Minutes

Nobody knew how 2020 would end when it started. The coronavirus pandemic has forced businesses to adopt digital transformation more than ever before. The number of businesses that have moved online in the past six months alone is more than those in the last decade.

There’s a lot at stake for 2021. The question is whether mainstream technologies such as data analytics and AI will remain a force. Or will we see newer forms of technology dominating the year? Even if time is the sole judge and determinant, here are possible technology trends we believe will dominate 2021

01. Artificial Intelligence (AI) Engineering

Artificial Intelligence, or AI, has already received a lot of buzz in the past decade, but it continued to improve operations for many companies and businesses. The pandemic even made its usage more common. AI, data, and machine learning have played an unmatched role during this coronavirus period.

We have seen how AI has helped in the suggestions customers get when shopping on Amazon, or even when they are watching movies on Netflix. More companies will benefit from AI since the cloud continues to enable access to the rising computing power, software, and frameworks. It’s estimated that 45% of companies using artificial intelligence have increased their total spend per customer, and their ASPs.

02. Robotic Process Automation (RPA)

Like AI and Machine Learning, Robotic Process Automation, or RPA, is another technology that is automating jobs. RPA is the use of software to automate business processes such as interpreting applications, processing transactions, dealing with data, and even replying to emails. RPA automates repetitive tasks that people used to do.

For you as an IT professional looking to the future and trying to understand new technology trends, RPA offers plenty of career opportunities, including developer, project manager, business analyst, solution architect and consultant. And these jobs pay well. An RPA developer can earn over ₹534K per year – making it the next technology trend you must keep a watch on!

03. 5G Will Go Mainstream

All that talk and hype around 5G will become real in 2021. The need for a reliable and fast connection became urgent only a few months earlier. When digital collaboration, remote work, and videoconferencing became a part of our lives, we had to get ways to boost speed.

It was already clear enough for telecommunication companies that 5G was the way to go. The deployment of this technology will be important for different tools like IoT. About 51% of companies using IoT have noted an improved insight into customer needs, behaviors, and preferences. The value of 5G, therefore, will skyrocket in 2021.

04. Internet of Behaviors(IoB)

IoB is an upcoming trend that you’ll hear more of in 2021. Companies and businesses are taking advantage of technology to monitor consumer and customer behaviors. Some of the effective technological tools here include location tracking, big data, and facial recognition.

According to a prediction by Gartner, more than half of the global population will be under an IoB tool by 2025.

05. Cybersecurity Mesh

With the cybersecurity mesh, you can access any digital security asset – no matter its location. The benefit of this technology is that it allows people to place the security wall around individuals rather than the entire organization.

The sudden rise in remote workforces and cloud technology has affected the security of company assets outside the company’s perimeter. Thanks to the help of the cybersecurity mesh, the security perimeter goes beyond and covers individuals working remotely.

06. Anywhere operations

An anywhere operations model will be vital for businesses to emerge successfully from COVID-19. At its core, this operating model allows for business to be accessed, delivered and enabled anywhere — where customers, employers and business partners operate in physically remote environments.

The model for anywhere operations is “digital first, remote first;” for example, banks that are mobile-only, but handle everything from transferring funds to opening accounts with no physical interaction. Digital should be the default at all times. That’s not to say physical space doesn’t have its place, but it should be digitally enhanced.

07. Quantum Computing

Next remarkable technology trend is quantum computing, which is a form of computing that takes advantage of quantum phenomena like superposition and quantum entanglement. This amazing technology where quantum computing is finding applications is banking and finance, to manage credit risk, for high frequency trading and fraud detection.

Quantum computers are now a multitude times faster than regular computers and huge brands like Splunk, Honeywell, Microsoft, AWS, Google and many others are now involved in making innovations in the field of Quantum Computing. And to make a mark in this new trending technology, you need to have experience with quantum mechanics, linear algebra, probability, information theory, and machine learning.

08. Hyper Automation

Hyper Automation is the idea that anything that can be automated in an organization should be automated. Hyper Automation is driven by organizations having legacy business processes that are not streamlined, creating immensely expensive and extensive issues for organizations.
Many organizations are supported by a “patchwork” of technologies that are not lean, optimized, connected, clean or explicit. At the same time, the acceleration of digital business requires efficiency, speed and democratization. Organizations that don’t focus on efficiency, efficacy and business agility will be left behind.

09. Automated Report Generation

Many banks and financial services providers are utilizing RPA to automate manual tasks involved in report generation and are able to realize an immediate return on investment (RoI). Automating the report generation process includes a range of activities such as optimizing data extraction from both internal and external systems, standardizing the process of data aggregation, developing templates for reporting, review, and reconciliation of reports.

10. Account Closure Process

The end-to-end account closure activity involves a range of manual tasks such as checking documents’ availability in the bank’s records, sending emails to clients and branch managers, and updating the data in the system. RPA Bots can automate all of these manual tasks so that the knowledge workers can focus more on productive operations.

Technology Trends 2021 might have just gotten started. But, you will see major changes this calendar year. Look to see how these new technologies could impact you for the better


Multi Cloud with Oracle Cloud, Azure, and AWS

Multi Cloud with Oracle Cloud, Azure, and AWS

14. June 2021|In Technology|ayushi goyalBy ayushi goyal|3 Minutes

An on-premise ecommerce platform built on the Oracle Exadata Database Machine and Microsoft .NET applications. Or perhaps an ERP system that uses Oracle PeopleSoft applications, Office 365, and Microsoft Workplace Analytics, as well as Oracle Database with Oracle Real Application Clusters.

Which public cloud is the right place for those critical enterprise workloads? The best answer might not be either Oracle Cloud Infrastructure or Microsoft Azure. Indeed, the best answer might be “Both”.

Multi-cloud alliance

The Oracle and Microsoft partnership enables joint customers to deploy mission-critical enterprise workloads that span both Microsoft Azure and Oracle Cloud Infrastructure environments.

Such customers can run Azure analytics and AI, for example with Oracle Autonomous Database on the same workload.

This not only makes it easier for companies to have a backup cloud to aid in disaster recovery but also to split up workloads so that data architects and application developers can choose their preferred environments and tools.

The Oracle and Microsoft alliance also removes the burden of managing multiple service orders, networking configurations, and data transfers from different clouds across workloads.

Security

The range of standards that Oracle provides compliance with is one of the most comprehensive among the leading cloud providers, according to Omdia’s SWOT report.

While currently compliant with ISO 27001, SOC1, SOC2, PCI DSS, HIPAA/HITECH, FedRAMP Medium, and FedRAMP High, Oracle Cloud Infrastructure also follows a media destruction process adhering to NIST SP 800-88r1 and DoD emergency destruction and secret classification standards.

A new feature in Oracle’s Gen 2 Cloud is Isolated Network Virtualization, which isolates physical network interfaces and cards from each other, isolating an attacker who has gained unauthorised access to the network.

Customer support

Approximately 80% of Oracle’s customers stay in the Oracle Cloud for between one and three years, and 21% of them commit to three-year subscriptions, according to Omdia’s (https://omdia.tech.informa.com/) SWOT analysis.

Companies running their workloads on the Oracle Cloud Infrastructure Free Tier can get an enterprise-level support package, which includes two Oracle Autonomous Databases with powerful tools like Oracle Application Express (APEX) and Oracle SQL Developer, two Oracle Cloud Infrastructure Compute virtual machines, block, object, and archive storage, load balancer and data egress, and monitoring and modifications.

The report also shows more than 50% of Oracle’s customers increase their spend once they have moved to Oracle Cloud Infrastructure, and the rate of new customers moving to Oracle Cloud is more than 150% year on year.


Top 10 RPA Use Cases in Banking Industry

Top 10 RPA Use Cases in Banking Industry

14. June 2021|In Technology|ayushi goyalBy ayushi goyal|7 Minutes

Today, RPA has become an essential tool for most businesses, including banks. The banking industry is witnessing rapid turbulence caused by the global pandemic and economic instability. Amidst the COVID-19 situation, banks are looking for all the possible ways to cut costs and drive revenue growth. RPA in the banking industry is proving to be a key enabler of digital transformation.

There are numerous RPA use cases in banking. The list below highlights some of the most rewarding RPA use cases in the banking industry.

01. Customer Service

As banks handle multiple queries ranging from bank fraud to account inquiry, loan inquiry, and so on, it is extremely difficult for the customer service team to address them in less time. RPA helps the low-priority queries to be resolved, freeing the customer service team to focus on high-priority questions. RPA also helps to reduce the amount of time it takes to check customer details from and disparate onboard systems. The reduced waiting time and easy redress helped banks improve their customer relationships.

02. Compliance

With so many compliance rules, it becomes an arduous task for the banks to comply with each of them. RPA makes it easier for banks to adhere to the rules. According to a 2016 survey by Accenture, 73% of the surveyed compliance officers believed that RPA could be a key enabler in compliance within the next three years. RPA helps in increasing productivity by functioning 24/7 with fewer FTEs, improving the quality of the compliance process, and increases employee satisfaction by eliminating monotonous tasks and engaging the employees in tasks requiring human intelligence

03. Credit Card Processing

RPA-enabled automation for credit card application processing is another use case where banks have seen phenomenal results. RPA allows for the issuance of a credit card to customers within hours. RPA Bots can navigate through multiple systems with ease, validate the data, conduct several rules-based background checks, and decide to approve or disapprove the application.

04. KYC Process

While dedicated KYC solutions are emerging, it is also possible to use RPA bots to automate portions of the KYC process. For edge cases that require human intervention, the case can be forwarded to an employee. For regular cases, RPA bots can speed up processing times, improve security and compliance, and reduce error rates for this customer-facing process.

05. Audits

Banks need to reply to requests by the auditors for company audit reports. Bots have been used to find all the customer’s accounts year-end balances and return the audit to the audit clerk in the form of a Word document. This can reduce an average audit, which can take several hours to complete and an extensive audit that can take several days into an operation that can be completed in minutes.

06. Regulatory Monitoring

RPA can be used to scan regulatory announcements for future changes, to catch changes early, or to access the latest updates as new information is released. As regulation is established, changes may not always be apparent. RPA can be used to cross-compare notifications to show what has improved. This significantly reduces the time spent on identifying regulations and decreases the possibility of noncompliance fines due to errors.

07. Mortgage Processing

In the US, it ideally takes 50 to 53 days to close a mortgage loan. The process took time as the application had to go through various scrutiny checks such as credit checks, employment verification, and inspection before approval. A minor error from the customer or bank’s side could slow down the process and lead to unnecessary complications and delays. With RPA, banks can now accelerate the process based on set rules and algorithms and by clearing the bottlenecks that delay the process

08. Fraud Detection

One of the major concerns of a bank was the rising number of fraud cases. With the advent of technology, the instances of fraud incidents have only multiplied. Thus, it becomes difficult for banks to check every transaction and identify fraud patterns manually.

RPA uses an ‘if-then’ method to identify potential frauds and flag them to the concerned department. For example, if there are multiple transactions made within a short time, then the RPA identifies the account and flags it for a potential threat. This helps the bank to scrutinize the account and investigate for fraud.

09. Automated Report Generation

Many banks and financial services providers are utilizing RPA to automate manual tasks involved in report generation and are able to realize an immediate return on investment (RoI). Automating the report generation process includes a range of activities such as optimizing data extraction from both internal and external systems, standardizing the process of data aggregation, developing templates for reporting, review, and reconciliation of reports.

10. Account Closure Process

The end-to-end account closure activity involves a range of manual tasks such as checking documents’ availability in the bank’s records, sending emails to clients and branch managers, and updating the data in the system. RPA Bots can automate all of these manual tasks so that the knowledge workers can focus more on productive operations.

With so many advantages of RPA, banks must consider using it in all their functional areas to enhance customer experience and gain an edge over their competitors. It might seem to be a costly investment, but considering the value it delivers to the business, it can provide a good ROI within months of implementation.


Understanding Managed Services for IT

Understanding Managed Services for IT

14. June 2021|In Technology|ayushi goyalBy ayushi goyal|3 Minutes

Managed IT Services is when a company outsources certain IT functions to a third-party provider, referred to as a Managed Service Provider or MSP. These outsourced functions may be as basic as keeping IT equipment and other services functional all the way up to full IT team outsourcing

The goal is to either serve as an IT team for a company that has little or no internal capabilities or to support an experienced IT team by taking some of the day-to-day tasks off their plate.

Why are Managed IT Services important?

  • An IT company is motivated to do a very good job; they want to minimise problems for your organisation because they have KPIs directly linked to the efficiency of your IT.
  • You’re not an IT expert. Managed service providers take care of your IT so you can focus on running your business.
  • Managed services offer proactive support. So instead of your IT firm constantly fixing problems, they will actually try to identify problems before they happen, keeping your systems up and your problems down.
  • What IT systems do you need in 12 or 24 months’ time? Managed services help you think ahead and give you advice on what you need to be planning from an IT department.
  • Managed services give you access to a complete IT department. You don’t just get day-to-day IT support; you also get an IT manager so you can think strategically about how IT fits into your organisation.

A True MSP Partner

There are many MSPs out there offering a variety of services, to be consumed in a variety of ways. An ideal partner is one who is transparent in all their dealings with you and, most importantly, treats your sensitive issues, shutdowns or hiccups affecting your business, as their own.

Are you thinking of moving to a managed services contract?
At Bellurbis, we believe that through creating committed partnerships, engaging in our communities and empowering individuals to have a stake in the process, we create a collaborative prosperity that positively affects people, businesses and the world.

For more information about Managed Services, please get in touch with Bellurbis Technologies Pvt Ltd today.


Technology in Finance: What to look out for in 2021?

Technology in Finance: What to look out for in 2021?

14. June 2021|In Technology|ayushi goyalBy ayushi goyal|4 Minutes

Nobody knew how 2020 would end when it started. The coronavirus pandemic has forced businesses to adopt digital transformation more than ever before. The number of businesses that have moved online in the past six months alone is more than those in the last decade.

There’s a lot at stake for 2021. The question is whether mainstream technologies such as data analytics and AI will remain a force. Or will we see newer forms of technology dominating the year? Even if time is the sole judge and determinant, here are possible technology trends we believe will dominate 2021:

01. Digital-Only banks

Digital-only banks are extremely beneficial – nobody needs to spend a moment visiting any bank physically, no tedious paperwork to hands, and no queues for testing your patience. This is why they are developing in revenues and numbers worldwide.
Mobile banking apps are not new to the market. Most well-known, established banks around the world have them. Not surprisingly, it was fintech that had traditional banks to innovate in this way. The digital-only approach is the innovation that is being actively and successfully promoted by new-generation financial start-ups.
Visits to banks are going to drop 36% from 2017 to 2022 due to the rise of digital-only banks, and mobile transactions are to rise by 121% within the same timeframe.. Some other benefits include feasible cost management, fast bill payment, reset pins from home, real-time analytics, and fast balance review.

02. Biometric Security Systems

Mobile banking and other financial services become widely available – they are literally at the tip of one’s fingers. This, in itself, being an unbelievable achievement, at the same time, raises lots of security-related questions. Meanwhile, cybercrime increases day by day.
This means that the fintech organisations will have to rely more on biometric security systems as they are reliable and foolproof. However, the biometrics industry itself is at a transformative stage, and contactless biometric solutions are going to become popular soon.

03. Robotic Process Automation (RPA)

In 2021, we will witness more organisations adopting RPA to handle different backend tasks like security checks, customer on-boarding, account maintenance & closing, trial balancing, credit card and mortgage processing, among others. RPA allows fintech organisations to manage mundane yet necessary tasks efficiently, freeing up the human resources for other important tasks like customer service.

04. Blockchain

Blockchain technology has brought a level of transparency in financial transactions that once was unimaginable. Transactions have become much more secure since blockchain technology came into the picture and this has allowed the customers to trust the fintech companies that have this technology in place. Blockchain technology will play a key role in transforming the banking sector in 2021.

05. Autonomous Finance

Autonomous finance is on the top of the list of outstanding fintech innovations. Juggling work with utility bill payments, insurance, cable subscription, etc., can be overwhelming. Autonomous finance takes the burden off consumers’ shoulders and automates the financial decision-making process with Artificial Intelligence (AI) and Machine Learning. As more people try to create more time for themselves, they will be delegating recurring tasks to fintech solutions.

Opportunities in fintech are endless as the innovation thrives on the ever-evolving technology. Consumers want to do more in their finances and fintech solutions are rising to the occasion. With a track record of offering useful financial information, payment security, speedy and transparent transactions among others, fintech trends are fast becoming the standard in financial markets


Food Delivery App Design & Development

Food Delivery App Design & Development

11. June 2021|In Technology|silo42jeBy silo42je|1 Minutes

The Food and Beverage industry is one of the most competitive industries in the world. That’s why staying in communication with your patrons is a critical component to the sustainability of your business. Regardless of the popularity of your brand in your community, keeping top of mind with your customer base is essential to the longevity of your business and the key to sustaining a healthy, recurring revenue.

The food service app development requires a professional workforce, time and resources. Careful planning and learning your users’ needs clarifies a lot of important cornerstones. The point is that you need to target not only the clients but restaurants and couriers as well. Covering all their needs is the proven business strategy that focuses on how to make a food ordering app that can become a successful market competitor.

Explore how we helped a US-based leading food company – McDonalds to automate their food delivery mechanism.

If you need help with loyalty program integration, implementing a CRM solution for restaurants, or improving marketing effectiveness, we’re always looking for innovative new projects to be a part of. Let us know how we can contact you, and we will be in touch as soon as possible to discuss your business challenges and how we can help you solve them.