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3 Major Challenges Financial Institutions Face When Implementing Business Insight Technology

Strategy Driven

If you’ve been in the market for new business insight technology, such as a financial services analytics solution, the benefits of these are obvious. Promises made by your technology partner, such as increased analytics capabilities and improved compliance with regulators, are probably at the top of your mind. A Resistant Culture.

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Is Your Organization Digitally Mature?

Leading Blog

In the same way, digital disruption is not about the technology as much as it is about how companies can make their way through the new competitive environment they find themselves in. Digital disruption is more about the people than it is the technology. The authors introduce the concept of digital maturity.

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How Blockchain Can Help Marketers Build Better Relationships with Their Customers

Harvard Business Review

Blockchain technology is not well understood and subject to a lot of hype. However, there are many reasons to invest the time now to understand the technology and begin exploring specific marketing applications for your industry. Blockchain technology allows for near-zero transaction costs—even on microtransactions.

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Companies Are Reimagining Business Processes with Algorithms

Harvard Business Review

In the early 1990s, executives and managers welcomed information technology — databases, PC workstations, and automated systems — into their offices. In our study of more than 30 pilots in early-adopter companies, we found five common business processes improved by machine-reengineering.

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How to Set Up an AI R&D Lab

Harvard Business Review

The moment a hyped-up new technology garners mainstream attention, many businesses will scramble to incorporate it into their enterprise. What leaders tend to miss here is that the scientific progress we’ve made in AI does not automatically render the technology ready for any environment. Paper Boat Creative/Getty Images.

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A Dedicated Team of Problem Solvers Can Help Big Companies Act Like Lean Startups

Harvard Business Review

At a meeting with a large bank, one of the senior executives said, “You know we have a problem that’s really giving us trouble. It wasn’t perfect, the system could only identify 20% of the bank’s potential customers that had no discernable credit history, but that was enough to show the potential of their approach.

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Your Business Is Going to Depend on Connected Spenders, So You’d Better Understand Who They Are

Harvard Business Review

Connected spenders are the heaviest purchasers in categories including electronics, travel, and dining out, and they’re likely to be early adopters of new ways to buy in any category. In financial services, for instance, these ways are the newest cashless payment methods or mobile banking products.