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Graceful Degradation in banking An attention-deficit planet is unlikely to forget the memorable Monday moan in a hurry. For six hours, Facebook and its app family of Instagram, Messenger, and WhatsApp went down. Beyond the flood of FOMO memes, the impact to Facebook was tangible – shares fell 4.9 percent, its US ad revenues bled $545,000 each hour, not to mention the inconvenience it brought on to millions of businesses that rely on Facebook pay to access e-commerce sites. Using specific indicators from World Bank and other agencies, the cost of shutdown tool (COST) was estimated at $160m to the global economy. Disclaimer - Originally published on Bobsguide
Essential Innovations That Will Accelerate Banking Tech Transformation The year of the pandemic witnessed banks across the world as well as back home in India, accelerating their digital transformation initiatives. Not only were they forced to condense their year-long plans, but their evolution also came with a tectonic cultural change – one that challenged traditional processes, encouraged innovation, and made them rethink every aspect of their future journey. This radical shift towards ubiquitous digitization came with both the impetus as well as the opportunity for Indian banks to improve services, build loyalty, reduce costs, and develop the ability to spot bumps crucial to making the banking experience - with data at the heart of digitization. In the new world order where rapid decision-making, action, and response is imperative, financial institutions must now prepare for a holistic banking transformation with technology. Banks are also focusing on ensuring real-time engagement with their compliance and risk management teams, to put appropriate controls for comprehensive go
pCloudy (now Opkey Digital) partners with Maveric Systems to disrupt the Global Banking Sector pCloudy, a continuous testing cloud platform (now Opkey Digital) is proud to welcome Maveric Systems, a leading banking tech transformation solutions company as a new partner on-board. pCloudy is your one-stop-shop solution for all your app testing needs. With various testing capabilities and integrations that are easily accessible, the platform has become a favourite among many quality engineers, testing teams, and app developers. Needless to say, Maveric complements the work at pCloudy as they drive digital transformation in the global banking sector. This strategic alliance between pCloudy and Maveric will accelerate digitalization and quality engineering in the world of banking across the globe.
Maveric Systems to hire 1,200 in the next one year until 2022 Maveric Systems, a global banking technology transformation company, plans to hire around 1,200 employees over the next 12 months amidst a spike in digital adoption by banks and financial institutions since the onset of the Covid-19 pandemic. Read more from the below link "
Digitization will change Wealth Management: How will you keep pace? The global wealth management market is expected to grow at a CAGR of 9% from 2021 to 2025. Wealth management firms are still recovering from the COVID-19 disruption. Globally, Wealth Managers are looking for answers to a few pertinent questions: How can you increase data accuracy levels through domain led data model? How will Wealth Management firms balance employee safety and run a high-touch business? What are the expected changes in customer behaviour? How will firms meet new needs? What will be the nature of operational risk in this ‘new’ world? Overall, how will digitization impact the wealth management business? To read more, follow the link below https://mea-finance.com/digitization-will-change-wealth-management-how-will-you-keep-pace/
Maveric Systems to hire 3,000 associates; to focus more on well-defined talent s .. Read more at: https://hr.economictimes.indiatimes.com/news/workplace-4-0/recruitment/maveric-systems-to-hire-3000-associates-to-focus-more-on-well-defined-talent-strategy/87750764
Ten critical soft skills to accelerate your next IT career Information Technology as a career discipline requires innate technical knowledge to excel at one’s job, but that may not be enough to succeed and go to the next level. It has long been accepted that the combination of the right software proficiencies and interpersonal abilities ensures promotion year after year. This makes soft skills equally essential for growth, especially in the upper echelons of the hierarchy. Skill bundling which essentially brings to light the need to ensure everyone has competency in more than one skill is a critical evaluation hiring parameter today. Thanks to the pandemic, the game has undergone an upgrade, becoming a little more complicated considering the nature of how we work has changed beyond belief. Read this article authored by Harish TR - SVP, HR at Maveric Systems
Maveric 4.0 Outlook and 4.0 Strategy An exclusive interview of Ranga with Global Banking Finance and Review featured in their magazine. Please read this interview from the below link https://www.globalbankingandfinance.com/global-banking-finance-review-magazine-issue-30
Harish TR joins Maveric Systems as SVP - HR “The primary objective of the role is to ensure that the People priorities are in total alignment with Maveric’s business to have the best results,” Harish TR, SVP - HR, Maveric Systems, said. Harish TR has joined Maveric Systems as Senior Vice President - HR. He reports directly to Ranga Reddy, Global CEO, Maveric Systems. In this role, Harish will focus on initiatives around HR strategy, HR transformation, employee engagement and talent development, and also People Transformation in line with the Maveric 4.0 priorities. “The primary objective of the role is to ensure that the People priorities are in total alignment with Maveric’s business to have the best results,” Harish TR, SVP - HR, Maveric Systems, said. Read the complete coverage published on ET HRWorld from the below link.
Transforming banking: The digital way The operational efficiency of an organisation is directly related to its technological maturity. Efficiency is the hallmark of digitally mature organisations, and it lets them maintain low overheads. On the other hand, organisations that continue to use legacy systems tend to be underperformers. The reason is clear – and here’s the proof: A Boston Consulting Group (BCG) survey suggested that digital initiatives can help financial institutions cut costs by as much as 80% with proper execution. These digital initiatives lead to benefits such as convenience and ease of use for consumers, who have no interest in back-end performance improvements (which drive technology adoption in many organisations). According to a survey by American Bankers Association, mobile payments, online budgeting, video approvals, etc. are features for which customers would switch banks. Some of the advantages of digitisation can allay safety concerns too, such as contactless payments and e-services. Find out more about this article originally published on Dataquest India.
