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DIGITAL BANKING

Upgrade time: how the Pandemic affects efficiency

11.09.2020

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VIDEO ANALYTICS
ROBOTICS
INFRASTRUCTURE
DIGITAL BANKING

Upgrade time: how the Pandemic affects efficiency

11.09.2020

During the pandemic, a great number of employees rethought their work approach, while companies modified business processes to improve efficiency. In fact, many companies happened to upgrade their competencies and adapt to the new working environment. Let’s talk about innovations that subtly combine convenience and cost-effectiveness.

Due to the coronavirus threat, people tried to avoid conventional real-world communication realizing that it was hardly possible to practice social distancing while waiting in a queue or talking to a service provider staff. These worries fueled the change. Digital communication channels gained momentum, when even hardcore conservatives were forced to embrace Zoom and the like, mobile banking apps, online shopping, and delivery services.

Upgrade #1: Less contact, more efficiency!

It is high time to establish digital communication channels and handle any issue without physical contact. Customer communication is first in line to go digital wherever possible.

The following solutions can be helpful:

  • E-document management
  • Electronic digital signature
  • RPA for speech and text channels

There are businesses that have successfully solved this challenge. For example, nobody has ever visited a carsharing office, though millions use the services. On the contrary, you can't become a bank or insurance client without meeting their representative in the office personally.

To solve this problem, NNTC (our strategic partner in the UAE) successfully launched a biometric onboarding module for a mobile wallet app in Oman, leveraging video analytics to help people benefit from financial services without visiting a branch office. The app is a mobile wallet, where you can add a card issued by any bank, make a payment, transfer money to other wallets, split accounts, and perform other necessary financial transactions. It is available to the general public in official app stores. Data about client transactions and actions are protected, while the bank receives information about the interests and preferences of users to make special offers, thus converting app users into bank clients.

Users undergo identity verification directly via a mobile device, transferring the necessary data to the bank. This accelerates user onboarding, since users don’t waste time traveling to the bank and waiting in long lines, but spend three minutes only. The bank received a new user-friendly tool to attract new clients and analyze the target audience for marketing campaign planning.

Upgrade #2: Next level e-learning

E-learning was fast in adapting to a new reality, especially when it came to soft skills trainings provided as webinars and video courses. Employees find it convenient, since they neither waste time commuting nor hesitate asking questions, compared to offline learning. Moreover, there is always a video record available after a session. Organizers find it convenient as well, because there is no limit to the number of seats and such sessions are easy to moderate.

Adopting a Learning Management System (LMS) is a good idea. Basically, it is a corporate knowledge base containing valuable video courses and learning materials, where you can also test your theoretical knowledge. Meanwhile, exercising practical skills is better in virtual environment via either a mobile app – which is simpler – or a comprehensive solution with AR HMDs.

Upgrade #3: KPI fulfillment control

Employee physical presence used to be one of the essential control aspects for many line managers, who saw with their own eyes that everyone's on time at work, busy with work programs and not surfing YouTube or Facebook. Therefore, remote work posed a serious challenge to such employees, as it seems to them that everybody is slacking and nothing gets done, if they don't watch the work process.

There are three proven technological solutions to the problem:

The first solution by NNTC: Remote Employees Control Assistant is an integrated system, which helps to ensure control over business processes, analyze staff activities, generate workflow reports, and keep in touch with remote employees. The solution consists of two parts: server module and endpoint. An endpoint agent is launched on a workstation or terminal server running Windows or Linux, collects data on user activity and transfers it to the central server to be processed and visualized. Agents and administrators connect to the server via encrypted HTTPS protocol. Any types of infrastructure are supported, including NAT-translation, VPN channels, and other variants of connections. This gives the possibility to operate remotely on a computer being outside the corporate network. If an agent cannot connect to the server, it stores data in its local database and starts transferring it to the server at the first opportunity. This function allows for continuous monitoring of employees connecting to the internet using temporary channels – mobile 3G/4G modems, public Wi-Fi networks.

The second interesting solution offered by CROC: Our strategic partner, IT company CROC, and its partner Infobot have jointly developed a voice bot to assist employees with their daily targets. On the one hand, this bot will help thousands of office employees stay motivated and keep a teamwork mindset; on the other hand, it will enable managers to build a simple and effective remote work reporting system. The bot not only helps employees keep on track and focus on their targets, but also quickly interprets and records plan-fact data. Heads of departments can promptly obtain information about task performance and KPI achievement with no extra effort. Moreover, such tracking helps quickly identify and eliminate any objective and subjective barriers preventing employees from completing their tasks.

We, at NGN International, propose the third solution: State-of-the-art technologies enable office migration into Virtual Data Rooms. VDR solution is based on iDeals platform to manage diligence process, upload, access and share your sensitive documents with safety and ease. Solution can be deployed in your own infrastructure – on premise.

Metrics are surely staying on to help assess business solution efficiency and employee performance: recorded revenue, the number of completed transactions, leads, each stage conversion, and sales plan performance.

Upgrade #4: Cybersecurity

Business must get ready to face fundamentally new cyber threats. Tough perimeter defense used to help many businesses keep outsiders away from their network, but times are changing. Now, such perimeter defense is barely possible, given the amount of external connections (remote employees). Therefore, endpoint protection has become top priority, as well as abnormal user activity analysis and application-oriented protection.

For example, companies face ransomware attacks: if an employee uses a VPN connection and has zero control over the device itself, then unknowingly moving an infected file to a network folder means planting the virus inside the network.

If you haven’t done it so far, it’s high time to rethink your information security approach, do a big cleaning and assess your company's security and readiness to fight threats, with our experts always being at your service.

You decide

Ready or not, massive process change is imminent. What matters is that benefits will come too. Business will reduce costs and improve manageability at once, while employees will add flexibility to work. You know better what to focus on and what will work for your company at the moment and we, together with our strategic partners, can help you bring your plans to life and build a reliable technological structure adapted to the new market conditions.