The Constellation SuperNova Awards are the first and only awards to celebrate the leaders and teams who have overcome the odds to successfully apply emerging and disruptive technologies for their organizations. We at Constellation know advancing the adoption of disruptive technology is not easy. Disruptive technology adoption often faces resistance from supporters of the status quo, myopia, and financial constraint. We believe actors fighting these forces to champion disruptive technology within their organizations help, not only their organizations, but society as a whole to realize the potential of new and emerging technologies. This annual search for innovators includes an all star judging panel, substantial prizes, invite-only admission and speaking opportunities at Constellation's premier innovation summit - Connected Enterprise.
One third of banking executives participating in a study said that marketing owns the end-to-end customer relationship, but only 14% feel that marketing should own their institution's digital strategy. As financial institutions look at how best to adapt their current practices to meet the needs of customers across an expanding array of digital channels, banking executives look for insights to inform their digital transformation strategies. Digital transformation must begin with a cultural transformation within an organization, according to the study, in order to best lay the foundation for critical cross-department cooperation. This cooperation, freeing needed data and capabilities from departmental silos, is required to achieve seamless omnichannel service at each point along the customer lifecycle. With 87% of the financial institution respondents saying that technology is intrinsic to digital transformation and must be considered in tandem with strategy, it's a natural fit for CIOs to lead the way in vetting and implementing the technical platforms and solutions that will form the backbone of an organization's digital strategy.
The team here at 4 Roads are pleased to announce we have been shortlisted for an award by BIMA in the Technology Above £70k category for our work with Hitachi Vantara on the development of an AR/AI Interactive Digital Display. Hitachi Vantara is part of the Hitachi Group, the 38th biggest business in the world. Every year, Hitachi Vantara runs a conference where it demonstrates to customers and partners what the next 12 months will hold. Ordinarily, Hitachi Vantara would ship and physically erect hardware racks to demonstrate its new solutions and their possible configurations at the conference. However, it wanted a new way to showcase its entire portfolio that would surprise and delight delegates.
Amazon Prime is considered one of the most successful loyalty programs in retail history. While many believe the success of Amazon Prime revolves around free shipping, it is really the removal of friction and focus on experience that sets it apart. Banking can learn from Amazon Prime. There is no denying the explosive growth and competitive impact of Amazon to the retail industry. For their retail business, the foundation of this success is named Amazon Prime.
In my last post I stated that the "re-thinking and re-designing of the organisation for the digital age" has come a long way but still needs further refinement regarding to the strategic recommendations. The key challenges are still the change of mindset, the individual adaptation of new forms of working as well as the change of the overall organization and the leadership model. While the technology is not seen as any challenge, it still plays a key role for enabling the change and re-designing of the organization. Flexible and agile work in disparate teams can only be realized with the proper digital workplace technology. As Sam Marshall recently stated in an interview before the Digital Workplace Tech FORUM – the Digital Workplace thus is a "set of capabilities or services that should be provided for the organisation.