Wednesday marked the beginning of a new decade, and perhaps the beginning of a new era in digital, as the California Consumer Privacy Act (CCPA) went into effect as law. While the CCPA’s statutes are overly burdensome for today’s data-powered Internet economy, the law is a necessary step in restoring balance of power and trust across Internet behemoths, consumers and legislators.
Robotic Process Automation – using bots instead of associates to perform processing tasks – can be an effective way to increase speed and accuracy while redeploying associates on higher-value processes and projects. RPA implementations are commonplace across financial services and healthcare, as both industries have a disparate mix of non-integrated systems and data-intensive processes. However, RPA as a solution has finite value and should be compared against more strategic solutions such as true machine learning, BPMS and microservices integration.
Ever heard the saying, “The Cloud is just someone else’s computer”? This is one of the many arguments I encountered as I became an early adopter in 2010. While it is technically true, it misses the point: the inherent flexibility and benefits of the “Cloud” maximize the chances of differentiating your company from its competitors, especially in financial services.
Values are proven when demonstrated without a mandate to do so.
You won’t find a financial services institution that does not have a theme of customer, fairness or integrity woven into its core values. The current industry deregulation trend is a powerful opportunity for financial services firms to show and prove their values, and that they exist to benefit a variety of stakeholders, not just shareholders.
What is your reaction when you hear about a hack? Maybe “hacker” elicits thoughts of a sinister group of computer experts in a fortified basement committing acts of espionage and cyberwarfare. Hacking is frequently associated with illegally gaining access to critical personal, organizational, or government information. Oh yes, and of course, dark hoodies. It’s obviously very cold in the basement.
I was sitting around a table last Sunday having lunch, settling my golf bets with some friends from the day’s round. While we don’t play for much, the betting is secondary to the true prize of bragging rights. Nevertheless, as is custom with our friend group, all bets must be settled right after the round.