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The new face of Banking: Transformed by RPA

RPA in BFSI

With a “can’t wait to automate strategy”, banks are the frontrunners riding the automation wave. They have successfully shifted the uninspiring and routine tasks to machines while engaging their human resources in more resourceful tasks. The results are phenomenal; there is a dramatic increase in the operational efficiency and improvement in customer experience, among a multitude of other benefits, making automation inevitable for banks.

What made banks the early adopters of the automation wave is the realization of the fact that it is an excellent way to enhance productivity, performance, and to bring round-the-clock efficiency in processes. Challenges such as strict regulations and controls posed by the Government, the rise of the fintechs, change in customer behavior, demand for faster and personalized services, and Mergers and Acquisitions have left banks with no other choice than to embrace automation. 

As it is, the banks spending on IT is twice as much … Read More

Smart Contract-Based CrowdFunding and Rewards Platform

Smart Contract-Based CrowdFunding and Rewards Platform - Blockchain

Blockchain is of paramount importance as it facilitates users to own digital goods, assets, and data. It is a global distributed digital ledger that ensures transparency for all stakeholders within the network besides being a trusted and reliable technology. Both the ideas, Smart Contract-Based Crowdfunding, and Rewards platform, have harnessed the power of Blockchain in addition to using smart contracts.

A Smart Contract is an option contract between two or more parties written as a code in Blockchain. The individuals involved are anonymous, but the ledger is the public ledger. The Contract executes itself according to the coded terms when there is a triggering event like an expiration date. Regulators can use the Blockchain to understand the activity in the market while maintaining the privacy of individual actors’ positions. It is entirely autonomous and increases transparency, security, accuracy, speed, efficiency while keeping the transaction cost low.

Smart Contracts based CrowdFunding: Crowdfunding … Read More

Parallel Test Automation – Test Thousands of Cases in One Go

Parallel Test Automation

It is challenging to manage too many UI tests at the same time and meet release deadlines. Does it take too long to execute your Regression tests too? The simplest and most powerful way to overcome the challenge is to test all the tests in parallel. Parallel Test Automation is an innovative approach to help you run the tests parallelly and save your time so that you can focus on your core business activities.

Overview: Testing was done manually during the early stages of software development. As the industry advanced, there came some early-stage automation tools like AutoTester, UFT, and PreVue, to name a few. But as the tools were complicated and expensive, people started looking for better solutions. The new automation tools such as “Selenium, Katalon, Testim” emerged to go hand in hand with the rapidly changing software technologies.

As the software industry grew further, people started realizing they needed … Read More

Gesture-Based Machine Learning

Gesture-Based Machine Learning

As per a survey by the World Health Organization (WHO), 466 million people across the world face difficulty while they hear, speak and convey their message, which is over 5% of the world’s population. They don’t use voice as a primary medium to send their message and instead explain it through gestures. With gbML, the same gestures get captured in a computer, which then translates them into text and speech for ordinary people to understand and make sense out of it.

(gbML is a term designed by our team for the innovative idea, do not search the name on the internet!)

Idea: Only a few people understand the sign language used by the partially or fully disabled, and it becomes difficult for them to convey their message to everyone. gbML efficiently reduces the gap between the two.

How it works: 

The differently-abled person performs gestures in front of the … Read More

Voice-Driven Web Forms: Speech to Text

Voice-Driven Web Forms

With technologies like JavaScript native speech recognition API and a JavaScript speech synthesizer, the possibility of your favorite voice assistant acting as your navigator while you interact on the web is not far-fetched. Both technologies have empowered multiple functions on the website and make it easy to interact with the web. 

Read more to know how?

Overview: Speech recognition technology has gained momentum in recent years. It provides advantages on both an individual as well as enterprise level. Amongst the various benefits, the most notable is its ability to dictate speech and convert it into texts. With its help, users can fill forms and perform multiple functions without any physical contact with the device.

Idea: A web application ‘Hello,’ which can accept the commands from users without any keyboard or physical activity(touch, etc.). It is a library which needs to be included in the code. A user can speak the highlighted … Read More

IDEM: Interactive Dual Eye Mechanism

Interact with Robot

From global recessions to the spread of a pandemic like Corona, the business world often faces unexpected challenges. Such challenges can only be overcome through innovative ideas that give way out and light to combat such situations. IDEM or Interactive Dual Eye Mechanism is one such excellent idea that replicates human effort with Robots.

Idea: With the help of an Interactive Dual Eye Mechanism, a robot is created that communicates with you. It takes input in the form of two modes; manual mode through a joystick and a webcam. The Robo follows you in whichever direction you move. The Robo can identify various moods like angry, surprised, and happy.

Tools and Components:

The central brain of the Robo is the Arduino Uno Board that gives the commands and helps in the working of the complete mechanism.

Servo Motor, which is responsible for the window shot shaft at a particular angle … Read More

Hologram Object Projection – Blend of AR and VR

Hologram Object Projection

As coronavirus cases have surged, so have the number of companies asking their employees to work from home, and technologies like Hologram Object Projection will prove as milestones in facilitating work from home by projecting users in a 3D space.

The Hologram is a Three Dimensional projection of an object that exists freely in space and is visible to everyone without the need for 3D glasses. Based on Mixed Reality, the concept is a combination of elements of Augmented Reality and Virtual Reality.

Idea: Hologram Object Projection is a combination of AR and VR where AR creates the illusion that virtual objects are placed in the real world, and VR implies complete immersion experience in a virtual environment, i.e., creating a 3D simulated environment by shutting out the physical environment. It enables interaction of the real world with digital objects. It is based on realistic rendering, i.e., virtual objects are placed … Read More

Automation strategies during the times of COVID-19

Automation strategies during the times of COVID-19

Wondering what business looks like post-COVID? Indeed, each one of us, with absolutely no clue when things will return to their normal and still strategizing to bring the world together as it was before the epidemic. A fundamental approach that steers us through the storm is to embrace these challenging times as an opportunity to redefine and reinvent business operations and become COVID compliant. Business owners around the world have become more vigilant and are on a constant look-out for digital enablement solutions that help them mitigate the losses and rebuild post-outbreak.

Automation plays a vital role here and is likely to become the ‘Future of Work.’ As many organizations toil to tune to the new normal and new demands, automation plays the role of a catalyst that speeds up changes that are on the way — it almost serves as an accelerant.

Leading organizations are adopting an agile approach … Read More

Predicting IT Issues: ServiceNow

Predicting IT Issues with ServiceNow

With thousands of IT components that work together to run your business and act as key enablers, no one wants to have any IT issues. The key to achieve this is through higher visibility, proactive approach, and predictive analysis of all IT components. Predict IT Issues achieves this by having a well-connected map of IT components across the organization and making predictions using Machine Learning. 

Idea: Predict IT is a combination of two ServiceNow offerings:

Servicenow Discovery Servicenow Performance Analytics

It utilizes out of the box ServiceNow features like Discovery, Alert Management, and Performance Analytics to automate the process of asset registration, monitoring, and issue forecasting. 

Any device which has an IP address can be tracked, and detailed information related to its hardware and software can be extracted automatically without any human intervention. Software licenses can be tracked, and violations can be tracked with a single click.

ServiceNow Discovery is an … Read More

New Pain Points Post COVID-19 and A Way Forward

Pain Points Post COVID-19

Coronavirus pandemic is undeniably a human tragedy, and the global economy is traversing through the most unpredictable and perilous phase, something none of us have ever witnessed and imagined. There is an alarming shift in the focus of business owners, from plans of ‘Exponential Growth,’ to ‘Survival,’ ‘Conservation,’ ‘Cost Efficiency,’ ‘Business Continuity,’ ‘Employee Productivity,’ et al. They have suddenly become the ‘New Pain Points,’ and business owners are struggling to find a way forward.

The speed with which this crisis has hit the world is enormous, and there is an immediate and urgent need to take action and plan ahead. It is almost certain what we have been doing until now is no longer viable. The old formula for success is obsolete now, and we need to drag ourselves out of our comfort zones. ‘Think Different and Think Fast’ have suddenly become the new normal, and we need to look … Read More

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