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WEF Executive- Information On Business Model No Longer Working

Julie

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A traditional financial services business model is no longer working and this is claimed by a member of world economic forum. He is the man who is working in the group of accelerating digital transformation. This man believes that there are plenty of companies out there selling products or services for their profits. On the other hand it is not viable anymore because of the higher consumer expectations and increased competition.

There is a moment when financial services organizations manufacture the products and then they try to sell them. They use to sell them directly to the customers or on the other side to the distributors for resale. According to the Torrance he also believes that it might be dangerous for such businesses out there and it will get worse with time.

Digitization is the not the solution for everything as in this way the returns are not guaranteed so make sure to stay till the end of this article if you want to know more about this. If you are interested into knowing about the truth of digitization then you are at the right place.

Numerous alternatives are available

There are numerous alternatives are available to this model which can prove and guarantee more profits and better growth. Most of the small and medium-sized banks might find themselves relying on the way simple products in the market which is absolutely wrong. It is because they think that the products are easy to offer at scale such as current account and savings so make sure that you should keep this thing in mind.

In this way it might be impossible to scale up the business and attain profitability when the banks are over reliant on the simple products out there in the market that can cost them much more than they think. So the financial service organizations should work on creating the demand of their products at a very low cost to serve.

Dealing with retailers can be convoluted

If the banks start dealing with retailers or the car companies then it will get much complicated for them because at first they need to go through RFP which is also called as requests for proposal. It can take much longer time and also it can cost a lot of money to integrate. The embedded model or the fully embedded model might happen instantly which depends.

The other developers within retailers and also the other companies can easily track the platform which is connected with the bank, insurance companies and many other services. It makes the bank to become the platform that can offer an array of financial services. It results in number of intriguing business models.

Digital enablement model should be considered

There is an another model called as digital enablement or we can also call it developer support that can help the bank a lot. There is one catch that the banks make their assets available through APIs so that the other third party can integrate or embed into their own products. Payment plan on car, holidays, online experience like an education can be experienced right by this model.

Final lines

You should not start dealing directly with the retailers or the car companies because it can get you in a whole lot of confusion so if you are new to it then make sure to not to rush. You should consider every model including the third party one and choose the one which will help in embedding into their own products.

It will help in providing you much better experience than you can think.

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How One Blogger Uncovered Massive Government Corruption

Julie

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Everyone remembers the WikiLeaks scandal. It occurred when a whistleblower managed to leak a lot of restricted documents to the world. Essentially proving that the USA was spying on its people in a horrible and Orwellian manner. Many Americans were tricked into thinking this man was a traitor. But in reality, he was simply uncovering illegal and morally wrong practices by this government. He wasn’t the first person to do this. And he also wasn’t the last.

Poli-Blog

Poli-Blog is a now-closed blogging website that focused on political from around the world. It dabbled in USA politics but mainly focused on other nations. The idea of the site was to provide the American people with a greater insight into foreign politics, in the same vein that the rest of the world is very informed about the politics of America.

The blog was run by one person, with a team of technicians behind him that only focused on blog maintenance and posting. The main blogger, whose identity we are still unsure of, was responsible for all the actual writing. And it is this writer who managed to uncover some massive government corruption.

Brexit

Everyone knows about Brexit. The massive referendum held by the United Kingdom in which they decided to leave the EU. A mistake that is already costing them dearly. Many people wonder why they decided this. Well thanks to the information uncovered by the writer of Poli-Blog, we now know why.

You may have seen that new movie with Benedict Cumberbatch that goes into detail on how Dominic Cummings helped spearhead Brexit and lead the UK out of the EU. And you may have heard about Cambridge Analytica, the company that sold data to the Brexit party to help them secure more votes.

It was Poli-blog that first caught the trail of Cambridge Analytica, although this isn’t common knowledge at all. They successfully found out this company was manipulating people by accessing data they shouldn’t have access to and then selling it to other companies.

The Imapct

The impact of this information was largely ignored by the British media and everyone who in favor of leaving the EU. This proves how effective this campaign of manipulation and lies actually was. It is easy to see from this information that the entire Brexit campaign was built upon misinformation and slander designed to trick people into leaving the EU.

But why was it that all this information leaking didn’t cause a bigger fuss really? Well, there is one key problem with the information that Poli-Blog managed to uncover and it all comes down to poor blog design and outreach. If the site had managed to imrpove on both of these aspects, things might have been a lot different.

Outreach

Outreach is essentially how many people a blog reaches. This could be millions. It could be hundreds. And in the case of Poli-Blog, their total consistent readership was in the hundreds. And most of them were American. This presented a number of issues.

Firstly, without a larger readership, the information uncovered just went to waste. No one wanted to believe it was true and instead attributed it to being political propaganda fronted by a lefty. If they have used tools to help you do your own blogger outreach, rather than simply relying on the skills of their technical team, they might have been able to get this information out there and make an impact.

The other issue was the massive political unrest that was present in America. Trump’s presidency was one of the most divisive and turbulent ones in history. The entire four years were filled with scandals, issues, riots, protests, and a seemingly endless stream of racism and atrocities.

And this acted as a smoke screen for anything related to Brexit. Considering most of the readers of Poli-Blog were American, it is no wonder the information did nothing. The readers were too busy dealing with their own issues to worry about the fate of one small island nation.

In the end the UK did wake up to the realities of what had taken place during the referendum, but it was far too late. The Tories had secured a landslide majority in the house and the UK is set for four years of hard times.

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The Role Of Technology In Expanding SMEs In This Festive Season!

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The festive season is one of the most important times for all the businesses regardless of the size and type of businesses. All the businesses wish to have the highest profits during the festive seasons by upgrading their businesses and attracting a wide range of customers. With the ongoing situation, only technology can help in improving the working in this festive season surely.

Many SMEs businesses are waiting eagerly for festive seasons to cover up all the costs. We are taking a look into guide how technology is assisting with the expansion of SMEs in the festive season.

Advanced technology for the growth of SMEs!

With the creative content, social media, and remarketing campaigns for tempting emails as well as persuasive landing pages and digital marketing teams are already difficult to work trying for best communicate deals. Potential customers can assist in gaining the attention of the new audience. Technologies can assist in improving the condition of the business in the festive seasons accordingly. By managing up the actions and strategies for business can help in the marketing funnel. Lastly, no need to be concerned about the cost as all of it is affordable for SMEs as well.

There are five critical areas of technologies that SMEs need to focus on that we have discussed in brief in detail mentioned below.

  • Acquisition:

digital marketing teams are required to invest in technologies for making simple for them and utilize data for the growth of the business and scale. You can consider improving the target audience can be done with affordable and easy to use marketing analytics applications.

  • Engagement:

in the covid-19, most sales for business sales are online driven from the covid-19. Technology assists in improving customer engagement to a great extent and attain potential benefits surely. With proper communication by the brands with customers, more sales are driven towards the brands. Especially considering the festive season, SMEs help in improving customer engagement through chat and push notifications.

  • Retention:

it is better to focus on the upcoming end of year sales is mainly customer retention. With the increasing use of technologies for predictive analytics for reducing churn as well as boosting revenue from the current customers. With the great potential of predictive analytics, businesses can manage to do great with revenues and increase ROI considerably.

  • Multichannel campaigns:

it has become really easy for online retailers to launch, optimize, and expand campaigns among different channels surely. With ai, marketers can attain maximum benefit surely, and SMEs will get insights into the workflows. It is an affordable option towards which everyone needs to be considerate of.

  • Data gathering:

last but not least, data is an essential part of online businesses. The tried and tested tech such as google analytics, Mailchimp, WebEngage, and others can be proven helpful to data gathering of the SMEs. For integration, web analytics with ad mediums, email automation, and CRM customer relationship management systems can help the business to grow better.

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Some Of The Major Tech Innovations Which Took Place In 2010

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This is 2020, and we are all set to enter 2021. This is a world of highly sophisticated and advanced technology, which has influenced every single aspect of our lives. Many of these technological progress took place in the year 2010. As a matter of fact, some of the most striking and impactful innovations happened in this year.

In the following section of this article, you will be offered a brief insight into some of the major technological innovations which brought about a massive change in our lives.

  • HD or High Definition:

Do you remember those days prior to the advent of HD technology? This technology took over the market at a rapid pace, and within a very short span of time, anything, which didn’t had HD touch, appeared to be back dated and old fashioned. Today, in the year 2020, almost 90 percent of television viewers in the USA, use HD sets and one fourth of them owns a 4K television. Latest innovations like Ultra HD and 8K are evolving rapidly, as new standards.

  • Second Screens:

Can you imagine a world without smart phones and tablets? All these devices constitute the second screen technology. Over the years, it has become so much popular, that today, we cannot imagine of surviving without using them. You would be astonished to learn, that there are more than 33 billion second screen devices, which are used throughout the world. Samsung and iPhone have always been the main players in this domain; with a major contribution from Apple. Apps are being used by millions of businesses from all over the world to offer better customer experience, in terms of communication, products, services and various other aspects. Since 2010, the use of apps has skyrocketed, and today, businesses, irrespective of their size or magnitude, are using apps to offer services of the optimum level to their customers.

  • Content:

Content has always been one of the major aspects as far as marketing and business promotion is concerned. However, little did we know that content would include stuffs like podcasts, texting, streaming, video and a combination of all of these. In today’s world, any type of content; irrespective of where it us created; whether in a living room or a studio, has a tremendous impact on various platforms, ranging from TikTok to OTT. People from all over the world are using smart devices to avail streaming services. This essentially means, that they are cutting cords with the cable service providers. This is where brands like Netflix and Amazon come into the picture. They have already captured a huge section; which was looking for an alternative to the traditional, wired Cable TV services.

  • Social Media:

There is no need to mention what role social media has played in the process of business promotion and growth. Social media platforms like Facebook, Twitter, Instagram and others have provided the perfect ground for the companies, who were looking for cost effective means to reach out to their prospective customers, located all over the globe. Apart from having a profound impact on the growth and development of business, social media has played a remarkable role in our day-today life. It has helped us to connect to every single corner of the globe; and converted it into a global village.

  • eSports:

Whether it is fantasy football or an inter-college sporting event; eSports have grown at a tremendous speed! Taking into consideration the fact that sports gambling is gradually being legalized in many countries; the concept of e-Sports has developed at a mind boggling rate. You will shocked to know that the total viewership of e-Sports has already exceeded a jaw dropping figure if 500 million; and its total economy has gone way past $ 1 billion.

  • Media Rights:

Media rights, which attained a new height in the year 2010 has added a new dimension to the concept of viewership as far as the television sector is concerned. When it comes to media rights, it is primarily more prevalent in live sports streaming. It has offered more transparency and flexibility, and at the same time, has ensured that monopoly or domination of a particular channel or media could be controlled to a great extent.

  • Paywalls:

This has been one of the major innovations during 2010. Paywalls have played an instrumental role when it comes to replacing physical content with a digital one. This is particularly true in case of news papers and different revenue models.

  • Connectivity:

In 2020, we are living in an age, where the concept of connectivity has reached its heights. With wifi, IOT, Mobile Data, Bluetooth, Cloud services; we have the most advanced and sophisticated mechanisms available to us, as far as connectivity is concerned.

  • Data Analytics:

Data is the driving force of all businesses. With the emergence of different types of data analytical tools and applications; it has become very easy to track every minute details, which in turn helps tremendously, when it comes to enhancing the functioning of a business.

These are some of the major tech innovations, which happened in 2010, and they have brought a revelation and played an instrumental role in shaping the digital world. New and advanced technologies are being worked upon, and don’t be surprised, if your mobile phone service provider offers you 10G connectivity within next couple of years! Technological advancement is happening at lightning speed!

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