Analyzing Industries Part 1: Banking, Financial Services & Insurance

first_imgWhen we examine how technology is deployed in the field, there are a multitude of ways in which we can slice the market to give depth and greater understanding of the bespoke challenges that are faced in a given segment. For example, we could look at the market through the lens of a workload, where we see vast differences between the varying types of use cases such as Oracle database environments versus SAP, VDI or even HPC.  Additionally, we could look at varying geographies around the world and examine the differences between developed and developing economies, where the cost of labour influences the types of technology used.In this blog post and subsequent posts, I will look at technology through an industry prism beginning with banking, financial services and insurance (BFSI) companies. To set the scene, I will examine the disruption BFSI firms will face in coming years.I’ll then move to the technology challenges being faced, starting with the data centre and finishing with the VCE perspective and answering the question of how VCE supports financial institutions in creating a foundation for IT and business transformation.What will be the game changer for financial services industry in the year ahead?2014 continues a fundamental shift for the financial services industry as their customers, big and small, have more financial negotiation power due to alternative sources of capital from new technologies. Information intersected with analytics – often referred to as big data – when combined with cutting edge platforms, can bring together investors and borrowers in ways that bypass the traditional model where borrowers seek out banks. Instead, it becomes possible for savvy lenders to identify prime borrower prospects before the prospects even start a search for a lender. Together, big data and new platforms are launching a surgical strike at the very heart of the traditional financing model.This, coupled with radical simplifications of traditional end-to-end business process and flow, will disrupt the sector, creating opportunity for some, but crisis for others. Disruption brought about by the changing dynamic with partner organisations and customers will be further characterized by the introduction of technology mash-ups, providing outcomes such as a broad uptake of digital wallets, payment disruption and more.“These companies are facing a harsh reality – banking is essential to a modern economy, banks are not. The same can be said for insurance companies.ShareHow can financial services organisations keep pace with the challenge of running their data centres?I don’t think keeping pace and merely running a data centre is good enough for a competitive and innovative financial services organisation. A successful company needs to be ahead of the demand and predict how technology will impact the very heart of their environments; the data centre. Today our data centres are under more strain than ever as they groan under the weight of the third wave of computing.The amount of devices connecting to our networks is exploding, not just internally, but also for BFSI customers. This will only continue its inexorable expansion with new connected devices and mobile wearables, such as Smart TVs and Google Glass. These devices surf a tsunami of information as the Internet of Things feeds the digital universe. Compounding the challenge is the pressure of making sense of this deluge through increasingly sophisticated analytics methods.“To keep ahead, not just keep up, organisations should look to platforms that will serve the needs of the modern data centre by reducing complexity, increasing availability and, more importantly, creating an infrastructure that enables rapid service deployment.SharePlatform strategies should be forward-looking to underpin the shift in the way we manage infrastructure and reduce the amount of time spent on configuring systems, instead of spending more time on applications and workloads.How does VCE support financial institutions in creating a foundation for IT and business transformation?At VCE, we have done the complicated work of invention and innovation on the infrastructure layer, enabling BFSI customers to redirect their focus away from the challenges faced in the modern data centre – integration, provisioning and maintenance. Vblock Systems don’t just converge the compute, network and storage fabrics, but the management layer too. This approach frees up BFSI resources to channel innovation, providing customers with a higher ROI as well as allowing the technical staff to focus on business-oriented, outcome-oriented IT, instead of non-strategic, silo-bound configuration activities.In the case of the financial services sector, VCE Vblock Systems have been successful in use cases ranging from PCI compliance to large scale VDI to allowing rapid provisioning of services for insurance companies to online banking and credit card rewards processing. Vblock Systems add hygiene and consistency to financial services environments and provide a stable, reliable, repeatable and highly scalable platform upon which customers can confidently hold their most mission-critical and business critical workloads and applications.last_img read more

Pensioner drowns after allegedly jumping into Berbice River

first_imgThe body of a pensioner was reportedly found floating in the Upper Berbice River in the vicinity of the Kwakwani waterfront in Region 10 (Upper Demerara-Berbice) on Monday morning.A resident, who was travelling in a canoe, made the discovery and notified Police who were summoned to the scene.Suspected to have drowned is Leon Williams of Kwakwani Waterfront, Upper Berbice River. He is suspected to have met his demise sometime between Sunday evening and Monday.Based on reports received, at about 21:00h on Sunday, a report was made to the Kwakwani Police Station by an unknown caller, informing ranks about the disorderly behaviour of the pensioner.The now deceased was reportedly armed with a cutlass and appeared to be under the influence of alcohol at the Waterfront. However, upon seeing the ranks, Williams allegedly ran and jumped overboard and never resurfaced.A search was conducted but there were no signs of the man.It was not until Monday morning that a cousin of the deceased reportedly called the Kwakwani Police Station and reported that his body was found motionless approximately 50 feet away from her house in the Upper Berbice River.The police responded to the scene and Williams’ body was pulled from the river.It was transported to the Kwakwani Mortuary awaiting a post-mortem. An investigation was launched into the man’s demise.last_img read more

Johnny Cueto’s investment in the future mirrors Giants’ investment in Cueto

first_imgClick here if you’re unable to view the photo gallery on your mobile device. PHOENIX — With each bullpen session he throws, injured starter Johnny Cueto is moving closer to rejoining the San Francisco Giants pitching staff.With each day Cueto spends at the Giants’ minor league complex in Scottsdale, the veteran pitcher is helping to change an important part of the organization’s culture.Cueto, 33, left the Scottsdale complex Saturday to throw a 40-pitch bullpen in front of Giants coaches …last_img

The Root Causes of Your Poor Sales Results

first_img Essential Reading! Get my 2nd book: The Lost Art of Closing “In The Lost Art of Closing, Anthony proves that the final commitment can actually be one of the easiest parts of the sales process—if you’ve set it up properly with other commitments that have to happen long before the close. The key is to lead customers through a series of necessary steps designed to prevent a purchase stall.” Buy Now An exhaustive list of all the reasons your sales results aren’t what you want them to be would require a vast number of posts. The menu here is what I see right now with some ideas about what you might do to eliminate them. None of these are easy to resolve, as they all require behavior changes and tough conversations. You have to solve the root causes of your poor sales results if you want them to improve.No Effective Role ClarityThe Account Executive, a pure sales role, is often found doing the work that belongs to an Account Manager. The Account Manager ends up doing the work of Customer Service (or some similar role). People in operational roles who are struggling to serve the client pass their challenges to the person most competent to deal with the problem—and the client. When you pull salespeople out of a selling role, their sales decline.Salespeople don’t spend enough time selling for many reasons, including distractions, being burdened with email communications, and time spent taking care of their responsibilities to their company. When there is confusion about their role and outcomes, they spend even less time selling. A lot of the things Account Executives spend their time on when it comes to taking care of their clients feels like work, but it isn’t the right work. They need to own the outcomes, not the transactions.Imposing role clarity doesn’t require a purity test that forbids the salesperson from being engaged in a serious challenge serving the client, but it does require removing them from the day-to-day management of their clients.Recently, more companies are trying to model SAAS companies, slicing the sales role into thinner and thinner slices. The idea is old enough to include Adam Smith’s division of labor and Frederick Winslow Taylor’s scientific management. These companies struggle when reality doesn’t match their theory about roles. By pulling their senior salespeople out of the prospecting role, they deprive their prospects of conversations with the person who is best prepared to help them.Whatever the design of your structure, it should both serve the outcomes, and provide clarity about each role’s responsibility.No Strong DirectionPeople need to be led. More still, they want to be led. They want to know what they’re supposed to do and how they are supposed to do it. They want to succeed in their role. When you deprive them of strong direction from leadership, they tend to struggle. Sales leaders who struggle with establishing noon-negotiables worry about being autocratic when they should worry more about setting high standards.Leaders are often too removed from their teams to provide strong direction. Their communication isn’t frequent enough, nor is it direct enough about what they want, why they want it, and how their teams need to go about producing results. The communication also isn’t consistent enough to make it believable as a real priority.I have spoken to a sales organization three years in a row, each year bringing a new primary goal, a new strategy, a new methodology, a new structure (or modifications to the existing structure), and a new compensation plan. What was most important just twelve months ago went unachieved.Strong direction and high standards are foundational to strong execution. For most sales leaders, the most effective new strategy they could pursue would be to execute their plans over many years with firm direction before ever looking at something new.No AccountabilityNo organization produces the results they are capable of without accountability. There is a lack of accountability in sales now, and you will find it in most organizations, invariably in the activities that fall under the category called opportunity creation. There is too little willingness to hold salespeople accountable for prospecting and scheduling first meetings with prospective clients. Managers don’t want to be micromanagers. Accountability is not micromanagement; it’s macro-management.Senior sales leaders look at forecasts made up of opportunities that will soon be celebrating their fifth anniversary of being entered into the CRM (I only wish I was exaggerating). Sales managers allow their salespeople to hide behind a couple of big deals they claim to be working, optimistic about winning them and avoiding any conversation about new opportunities. They also accept excuses for not prospecting because the salesperson suggests they were too busy taking care of their existing accounts (see Role Clarity above).Salespeople need to be accountable for precisely two outcomes: 1) opportunity creation, and 2) opportunity capture. Both of these outcomes require role clarity, strong direction, and accountability. While I don’t believe any sales leader would argue with these outcomes, there are too few who are willing to impose the necessary accountability. Instead, they tinker with the compensation plan, mistakenly believing that everyone on their team is solely motivated by money.If you want a result, you have to hold people accountable for producing it—and doing the work necessary to make it so.Avoiding Tough DecisionsAvoiding tough conversations and tough decisions lead to increasingly poor results.A person is allowed to remain in the wrong role indefinitely, even though they are failing and unhappy, and even though the leader is unhappy with their performance.The senior person who is negative and cynical infects others with their disease in private and public conversations is allowed to infect others with debilitating beliefs without consequence.The operations team passes their problems to the salesperson to solve, and no one has yet broached the subject of their hiring people with the competency to manage the day-to-day client issues that pull salespeople out of their role.There has been no accountability for so long that it is difficult to imagine how to start imposing it now. No one wants to hit the reset button and begin the process of transformational change.If you are a sales leader, I guess that you could very quickly write down the names of the individuals in the scenarios above (only because they are so universal that any leader would have no trouble with this exercise). Leaders are required to make decisions, including the tough, but necessary calls.Presenting Problems and Root CausesThe presenting problem is poor sales results. The root cause is something else, and probably many factors. Better sales results are only possible when you treat the root causes.last_img read more

Hockey coach Harendra resigns after India’s loss to Malaysia

first_imgIndian men’s hockey team national coach Harendra Singh on Tuesday resigned from his post after his side crashed out of the Asian Games final with a 3-4 defeat by Malaysia in the second semifinal in Guangzhou, China.India’s hopes of a gold medal and a direct berth in the 2012 London Olympics were dashed by a spirited Malaysia, who rode on Muhammad Amin Rahim’s 75th minute golden goal to progress to their maiden title clash, where they will meet seven-time champions Pakistan, on Thursday.Soon after the unexpected loss, Harendra tendered his resignation to Hockey India secretary general Narinder Batra taking full responsibility of the team’s disastrous showing in the semifinal.”Keeping in view of the dismal performance of the men’s hockey team in the semifinal match against Malaysia today, I hereby tender my resignation as the national coach of the men’s hockey team with immediate effect,” he wrote in his resignation letter to Batra.”I accept the moral responsibility for the debacle at the 16the Asian Games,” Harendra added.In his resignation letter, he also thanked the HI and various government bodies apart from the players and his colleagues for their support during his association with the national team.”I am grateful to Hockey India, Ministry of Sports and Youth Affairs, Government of India and Sports Authority of India for all the support and encouragement I received during my tenure as a national coach.”I am thankful to all the officials of the said organisations for giving me this wonderful opportunity to serve for the country. I would also convey my gratitude for the kind of unconditional support I received from my countrymen as well as well wishers form various countries during the said appointment,” he wrote.advertisement”I would also like to put on record the support I received from the members of the media. I would fail in my duty If I do not convey my sincere thanks to all my players and support staffs who stood by me in each and every occasion during this eventful tenure. I wish all the luck to the Indian men’s hockey team for the future,” Harendra signed off.However, Batra said, in no way, the federation would accept Harendra’s resignation at this crucial juncture and had asked him to continue with the job.”I had received his mail and also talked with him over phone. I told him that it is not right to be emotional. We have a bronze medal match to play and I asked him to concentrate on that match,” Batra told PTI.”It is good that he has taken moral responsibility but it is not the right time to take this step. All this can be sorted out after returning to India. I asked him to be with the team and work together so that we can return with the bronze medal,” he added.last_img read more

Joshua Pacio vows to put on convincing performance in ONE strawweight title rematch

first_img“I have to dominate the fight so even if it goes to the judges it would be a clear win,” said Pacio. “But if I get the opportunity to end it early, then I’ll do it.”Pacio admitted that what he showed against Saruta wasn’t his best, and he’s determined to change that in their next fight.“For me, it’s hard because I know I didn’t fight at the best of my abilities,” said Pacio (13-3). “I wasn’t able to execute some parts of our game plan, so this time I have another chance of executing it perfectly.”Sports Related Videospowered by AdSparcRead Next READ: Joshua Pacio admits to shortcomings in close title loss to Yosuke SarutaONE’s top honcho boldly said just a few days after their ONE strawweight bout last January that Pacio should’ve won that fight and a rematch is definitely going to happen.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSUrgent reply from Philippine ‍football chiefSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption charges“I’ll prove in this rematch that the judges won’t hesitate to give me the win,” said Pacio in Filipino Thursday at Gloria Maris in Gateway during Team Lakay’s media lunch. View comments Oil plant explodes in Pampanga town Sean Anthony baffled by another PBA All-Star snub Don’t miss out on the latest news and information. LATEST STORIES Pacio admitted that there were areas in their game plan that he failed to execute against Saruta but the split decision verdict was too close of a call for him, and apparently for Sityodtong.But the controversial loss did not dampen Pacio’s spirits and it instead fueled his inner fire to prove that he deserves the title.ADVERTISEMENT Grace Poe files bill to protect govt teachers from malicious accusations Team Lakay’s Joshua Pacio. CONTRIBUTED PHOTOMANILA, Philippines—In just three months since yielding his belt, Joshua Pacio is getting his chance to avenge that painful loss to Yosuke Sarurta.A rematch has been set between Pacio and Saruta for April 12 at Mall of Asia in the co-main of ONE: Roots of Honor headline by Martin Nguyen and Jadamba Narantungala, true to ONE Chairman and CEO Chatri Sityodtong promise.ADVERTISEMENTcenter_img US judge bars Trump’s health insurance rule for immigrants PH underwater hockey team aims to make waves in SEA Games PLAY LIST 02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss Lacson backs proposal to elect president and vice president in tandem SEA Games hosting troubles anger Duterte Private companies step in to help SEA Games hosting ‘We are too hospitable,’ says Sotto amid SEA Games woes MOST READ P2.5 B shabu seized in Makati sting, Chinese national nabbedlast_img read more

No Garden upset: Golovkin knocks out Rolls in 4th round

first_imgKazakhstan’s Gennady Golovkin, left, knocks down Canada’s Steve Rolls during the fourth round of a super middleweight boxing match Saturday, June 8, 2019, in New York. Golovkin stopped Rolls in the fourth round. (AP Photo/Frank Franklin II)NEW YORK — No Garden shocker: Triple G’s left hand ensured that.Gennady Golovkin’s return to the ring was short and sweet as he knocked out Steve Rolls with 51 seconds remaining in the fourth round of their super middleweight fight Saturday night.ADVERTISEMENT View comments Duterte wants probe of SEA Games mess Ethel Booba twits Mocha over 2 toilets in one cubicle at SEA Games venue Two-day strike in Bicol fails to cripple transport So no historic upset in a building that has seen so many of them. Unlike Joshua, who appeared to be looking ahead in the buildup to Ruiz and then took his first loss last week, Golovkin was focused only on Rolls, who at 35 is only two years younger than Golovkin and was stepping way up in class.Now, perhaps, he can look to Alvarez-Golovkin III, probably the biggest money fight out there in a sport that could be filled with them over the next year.Golovkin weighed 163 pounds in his first fight with trainer Johnathan Banks, who liked what he saw — particularly in the lopsided fourth round.“It’s always good to get a knockout,” Banks said. “We’re going in the right direction.”Sports Related Videospowered by AdSparcRead Next Catholic schools seek legislated pay hike, too With cracks in a dynasty showing, Warriors are on the brink MOST READ DA eyes importing ‘galunggong’ anewcenter_img Private companies step in to help SEA Games hosting Onyok Velasco see bright future for PH boxing in Olympics PLAY LIST 00:45Onyok Velasco see bright future for PH boxing in Olympics00:50Trending Articles05:25PH boxing team determined to deliver gold medals for PH02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss LATEST STORIES There were no titles on the line, and Triple G made sure there was no stunner like Andy Ruiz Jr.’s upset of Anthony Joshua for four heavyweight belts last weekend in the same Madison Square Garden ring. Golovkin looked slow and tentative, perhaps rusty from a layoff since September, until he began landing regularly in the fourth round.That massive left decked Rolls, who struggled to get up and clearly was in no condition to continue. Golovkin (39-1-1, 37 knockouts) previously had Rolls in trouble in the round thanks to a series of strong and quick combinations that looked like vintage Triple G.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption chargesSPORTSSingapore latest to raise issue on SEA Games food, logistics“I love knockouts,” Golovkin said. “I love New York.“It was a great night all around. I’m ready to come back in September and bring back the big drama show.” That, of course, could be a third go-round with Canelo Alvarez, who owns the victory and the draw on Golovkin’s record. Both are under contract to DAZN, which streamed Saturday night’s bout, Golovkin’s first without a championship involved since 2009, a span of 22 fights.Asked in the ring who he wanted to fight next, the Kazakh star smiled widely as the crowd of 12,357 cheered.“We know who the fans want me to fight next,” he said.Rolls, a Canadian in his first bout at the Garden — Golovkin is 6-0 here — sustained his first defeat after 19 wins. He looked particularly adept in Round 2, when he was by far the busier and more accurate fighter. Still, two judges gave that round to Triple G.No matter. Golovkin found the range with both hands in the third round, and it looked like vintage Triple G in the fourth.ADVERTISEMENT Cayetano: Senate, Drilon to be blamed for SEA Games mess Don’t miss out on the latest news and information. ‘Rebel attack’ no cause for concern-PNP, AFPlast_img read more