Connect with us

Technology

Agile Strategies in Banking Key to Enhancing Customer-Centric Services and Market Responsiveness, Says Info-Tech Research Group in New Resource

Published

on

Info-Tech Research Group’s latest blueprint highlights the transformative power of Agile practices in addressing industry challenges and explores how it can improve customer experiences, foster innovation, and optimize operational efficiency. The firm suggests in the new resource that by emphasizing customer centricity, coordination with suppliers, built-in quality, innovation culture, and a learning organization mindset, banks can adapt, innovate, and excel in the fast-paced digital landscape.

TORONTO, July 16, 2024 /PRNewswire/ – A new industry resource from global research and advisory firm Info-Tech Research Group highlights the challenges faced by the banking sector in adapting to the fast-paced digital landscape, including rigid traditional processes, slow innovation cycles, and fragmented communication between IT and business units. The firm’s research findings on the topic, published in its latest blueprint, Consider Agile for Banking, provides insights on how Agile practices can address the current obstacles in the banking industry to foster a more responsive and customer-centric approach. Info-Tech advises that Agile methodologies can streamline operations, enhance collaboration, and drive continuous improvement, which is essential for maintaining competitiveness in the modern banking sector.

“Agile has been around for over 20 years and has transformed software development and business models,” says David Tomljenovic, principal research director at Info-Tech Research Group. “It has become an important methodology to help businesses within rapidly changing markets respond quickly with competitive products and services.”

Info-Tech’s research highlights the banking industry’s constant pressure to deliver new products and services to remain competitive with a growing number of market participants. The industry’s current processes are rigid and often based on outdated Waterfall development methodologies requiring extensive upfront design. Additionally, many banks have complex, hierarchical structures with a culture that does not promote ongoing communication, collaboration, or openness to change. This underscores the need for a shift to Agile methodologies to enhance flexibility and responsiveness.

“Despite the overwhelming adoption of Agile across many industries, it has not been fully embraced in the retail banking industry,” explains Tomljenovic. “As Agile was adopted, industries that were highly regulated began to recognize that its principles did not always align with high levels of regulation. With its roots as a software development methodology, Agile has also struggled in environments where there are significant amounts of legacy technology and high complexity.”

The firm identifies numerous opportunities for banks to implement Agile and realize significant benefits. While broad-based adoption may be impractical, many banks are finding success by combining traditional Waterfall methods with Agile to enhance customer centricity.

To thrive in a rapidly evolving environment, the banking sector must overcome several critical challenges. These challenges include addressing real-time data demands for dynamic market shifts, managing rising operating costs due to stringent regulatory requirements, and investing in robust cybersecurity measures to protect against increasingly sophisticated threats. Furthermore, organizations must attract and retain skilled talent in a highly competitive market. By strategically aligning IT initiatives with organizational goals and fostering a culture of adaptability and innovation, banks can effectively tackle these challenges, leading to enhanced and sustainable growth.

In its latest blueprint, Info-Tech highlights five common Agile elements best suited for the banking industry:

Customer Centricity and Design Thinking: Almost every bank now prioritizes customer centricity, contrasting with past practices where products centered on the bank itself. The rise of neobanks and non-financial competitors underscored the necessity for customer-focused strategies. Agile methodologies drive this shift, directing banks to allocate resources toward enhancing customer experiences, reflecting a fundamental transition from internal to outward-focused operations.Coordinating Trains and Suppliers: Modern banking requires comprehensive system reviews before implementation due to complexity. Suppliers are crucial for integrating AI and machine learning, as most banks cannot do this alone. Upgrading infrastructure to include composable systems, AI, and fintech is essential for banks to stay competitive and integrate advanced capabilities.Built-in Quality: In banking, strict regulatory, legal, security, and privacy requirements necessitate compliance from product inception. Banks emphasize upfront planning, built-in quality concepts, and extending these principles to non-essential areas like customer engagement to ensure compliance, mitigate reputational risks, and deliver customer-centric products from the start.Innovation Culture: Traditional banking methods risk business decline, making innovation crucial. Encouraging employees to innovate, as they interact directly with customers and processes, should be a priority. This internal innovation can lead to new products, reduced costs, and higher customer satisfaction. By tying innovation to specific business outcomes, banks can enhance automation, adopt new technologies, and increase market agility. However, innovation should be purposeful and not pursued merely for its own sake.Learning Organization: The banking sector is undergoing a significant transformation, requiring new skills and a learning mindset to navigate changing market conditions. T-shaped employees, with broad and deep expertise, are key assets for banks in flux. Info-Tech advises that by embracing team-based work, especially through cross-functional teams, banks can swiftly adapt by promoting knowledge sharing, developing versatile talent, and fostering a culture of continuous learning.

Info-Tech’s comprehensive blueprint explains how a strategic shift can enable banks to overcome traditional barriers, respond more swiftly to market changes, and deliver superior customer experiences. According to the firm’s insights, embracing Agile is not just about adopting a new methodology; it’s about fostering a culture of adaptability and resilience. This approach is crucial for staying competitive and achieving long-term success in an increasingly dynamic and demanding industry.

For exclusive and timely commentary from David Tomljenovic, an expert in the banking industry, and access to the complete Consider Agile for Banking blueprint, please contact pr@infotech.com.

Info-Tech LIVE 2024
Registration is now open for Info-Tech Research Group’s annual IT conference, Info-Tech LIVE 2024, taking place September 17 to 19, 2024, at the iconic Bellagio in Las Vegas. This premier event offers journalists, podcasters, and media influencers access to exclusive content, the latest IT research and trends, and the opportunity to interview industry experts, analysts, and speakers. To apply for media passes to attend the event or gain access to research and expert insights on trending topics, please contact pr@infotech.com.

About Info-Tech Research Group
Info-Tech Research Group is one of the world’s leading research and advisory firms, proudly serving over 30,000 IT and HR professionals. The company produces unbiased, highly relevant research and provides advisory services to help leaders make strategic, timely, and well-informed decisions. For nearly 30 years, Info-Tech has partnered closely with teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.

To learn more about Info-Tech’s divisions, visit McLean & Company for HR research and advisory services and SoftwareReviews for software buying insights.

Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm’s Media Insiders program. To gain access, contact pr@infotech.com.

For information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and X.

View original content to download multimedia:https://www.prnewswire.com/news-releases/agile-strategies-in-banking-key-to-enhancing-customer-centric-services-and-market-responsiveness-says-info-tech-research-group-in-new-resource-302198382.html

SOURCE Info-Tech Research Group

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Arandell Corporation Completes Acquisition of Maple Grove Operations

Published

on

By

MENOMONEE FALLS, Wis., Sept. 24, 2024 /PRNewswire/ — Saothair Capital Partners (“Saothair”), a private equity firm focused exclusively on investing in middle-market manufacturing and industrial companies, announced today that its portfolio company Arandell Corporation (“Arandell”) has acquired the business and assets of the Maple Grove, MN, facility (“Maple Grove“) from the CJK Group.

Arandell is one of the nation’s leading providers of high-quality catalog and brochure printing, mailing and logistics.

Maple Grove was previously acquired as part of CJK Group’s acquisition of Kodi Collective from LSC Communications in February of 2024.

Arandell’s existing facility and corporate office are based in Menomonee Falls, WI, and for over 100 years, Arandell has built a reputation in the marketplace for providing exceptional service and print quality along with effective solutions for postal optimization and logistics for many leading brands, retailers and other clients.

Already one of the largest printers in the country, by the addition of the Maple Grove facility, Arandell significantly increases its available capacity – complementing the ongoing expansion at the Menomonee Falls facility – and provides an even wider range of print and binding solutions to its customers to support their needs and help manage costs. With over 200 employees, the Maple Grove operations include a large double-web press platform that can efficiently run lightweight paperstocks and a bindery that offers significant capacity for both flat and letter marketing mail.

Sandy L. Ford, President and CEO of Arandell, said, “We are tremendously excited to welcome the Maple Grove team to Arandell. Maple Grove has a great reputation for quality and reliability, and their capabilities are a perfect complement to our Menomonee Falls facility, allowing us to grow across both locations. Arandell is committed to being the leading provider of print mail solutions in the marketplace, and this acquisition represents a milestone for our organization in that mission.”

Kevin Madden, Managing Partner of Saothair, added, “We are thrilled to provide the necessary support for Sandy and the Arandell team as they expand their capabilities in the marketplace and provide our customers with the quality and reliability they expect from Arandell.”

Legal counsel to Saothair and Arandell was provided by Jenner & Block.

About Saothair Capital Partners

Saothair is a private investment firm focused exclusively on investing in middle-market manufacturing and industrial businesses facing unique financial or operational challenges. Saothair makes controlling equity investments in companies across various industries, including paper & packaging, plastics, metals processing, automotive, building products, healthcare-related products, food & beverage, and other manufacturing. Saothair works in partnership with each key stakeholder invested in the business’s long-term success.  For more information, please see www.saothair.com.

View original content:https://www.prnewswire.com/news-releases/arandell-corporation-completes-acquisition-of-maple-grove-operations-302257633.html

SOURCE Saothair Capital Partners, LLC

Continue Reading

Technology

Silicones Market Positioned for Significant Growth, Expected to Reach $23.3 Billion by 2029

Published

on

By

Silicones: Driving Innovation Across Industries with High-Performance Applications in Construction, Manufacturing, and Transportation. BCC Research Study Projects 6.0% CAGR, with Market Growth from $17.4 Billion in 2024 to $23.3 Billion by 2029.

BOSTON, Sept. 24, 2024 /PRNewswire/ — “According to the latest BCC Research study, the demand for “Silicones: Global Markets” is expected to grow from $17.4 billion in 2024 and is projected to reach $23.3 billion by the end of 2029, at a compound annual growth rate (CAGR) of 6.0% during the forecast period of 2024 to 2029.”

The report provides an in-depth analysis of the global silicone market, focusing on its wide-ranging industrial applications in sectors such as transportation, construction, personal care, energy, healthcare, and electronics. It examines critical parameters evaluated by industries and regulatory bodies, given the ongoing advancements and expansions within these sectors. BCC Research has segmented the silicone market by product form—silicone elastomers, fluids, resins, gels, and others—and by end-use industries, including industrial processes, construction, personal care, transportation, energy, healthcare, and electronics. The report offers detailed market estimations in terms of value (in millions of dollars) and volume (in kilotons), with 2023 as the base year and forecasts extending from 2024 to 2029. Additionally, it covers regional market sizes across Asia-Pacific, Europe, North America, and the Rest of the World (RoW), while discussing market strategies, ESG development, regulatory landscape, key players, and driving forces shaping the industry.

The relevance of this report is underscored by the rapidly growing markets in sectors like construction, transportation, and electronics, all of which are driving a heightened demand for binding and coating substances. This surge is directly elevating the need for silicone products, a critical material in these industries. Moreover, with the rising concerns over pollution and environmental impact, the recycling of silicone has gained importance, opening doors for sustainable silicone products that can help reduce the carbon footprint. This shift not only creates new opportunities for businesses to enter the market but also highlights the essential role of silicone in the continued expansion of global industries.

Please click here for more details on “The Global Market for Silicones Report.”

The following factors drive the global market for silicones:

Surge in the Construction and Automotive Industries: Silicones are heavily used in construction for their sealants, adhesives, and coatings because they are durable and withstand harsh weather conditions. In the automotive sector, silicones are crucial for making gaskets, hoses, and other parts that need to handle hot temperatures and tough environments. As these industries expand, the demand for silicones naturally increases.

Increasing Demand for Silicone in Energy and Electronics Industries: In the energy sector, silicones are important for renewable technologies like solar panels and wind turbines, where they provide essential insulation and protection. For electronics, silicones are used to encase and protect delicate components, ensuring devices are reliable and long-lasting.

Growing Silicone Usage in Healthcare and Medical Applications: The healthcare industry relies on silicones for many uses, such as in medical devices, implants, and prosthetics, thanks to their compatibility with the human body and their flexibility. They are also used in wound care products and drug delivery systems, which help improve patient outcomes.

Rise of Silicone Recycling: With increasing environmental concerns, recycling silicones is becoming more common. This helps to minimize waste and reduce the environmental impact of silicone production. This trend is driven by stricter regulations and a growing emphasis on sustainability among manufacturers and consumers.

Request a sample copy of the global market for silicone reports.

Report Synopsis

Report Metrics

Details

Base year considered

2023

Forecast Period considered

2024-2029

Base year market size

$16.5 billion

Market Size Forecast

$23.3 billion

Growth rate

CAGR of 6.0% for the forecast period of 2024-2029

Segment Covered

Product Form, End User, and Region

Regions covered

North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Countries covered

China, India, Japan, the U.S., Canada, Mexico, Germany, Spain, and France

Key Market Drivers

 

 

 

•  Surge in the construction and automotive industries.

•  Increasing demand for silicone in energy and electronics industries.

•  Growing silicone usage in healthcare and medical applications.

•  Rise of silicone recycling.

Key Interesting Facts About the global market for silicones:

Silicone is a versatile material used in scar treatment due to its beneficial properties.Silicone gel helps balance growth factors, hydrate skin, and protect scarred tissue from bacteria.It regulates collagen synthesis, reducing scar tissue formation over time.Silicone scar treatment products come in sheets, strips, and gels for unique needs.These products are recommended by healthcare professionals and can be used at home effectively.

The global market for silicones report includes in-depth data and analysis addressing the following important queries:

What is the projected market size and growth rate of the market?
– The estimated size of the silicones market will be $23.3 billion by 2029, with a CAGR of 6.0%.

What are the key factors driving the growth of the market?
– Expansion of the construction and automotive industries worldwide
– Increasing demand from packaging, furniture, footwear, and appliance industries

What segments are covered in the market?
– The market is segmented based on product form, end-user, and region. Segmentation based on product form: the market is segmented into silicone elastomers, silicone fluids, silicone resins, silicone gels, and others. Based on end use, the market is segmented into construction, transportation, electronics, personal care and consumer goods, healthcare, industrial processes, energy, and others. Regional estimates and forecasts comprise North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

By end-user, which segment will dominate the market by the end of 2029?
– The construction segment silicone market will continue to dominate the market by the end of 2029.

Which region has the highest market share in the market?
Asia-Pacific holds the largest market share due to the extensive presence of key players in this region and the high demand for automotive and electronics applications. Additionally, China and the Southeast Asian region have been among the largest utilizes of the technology.

 Some of the Key Market Players Are:

ASAHI KASEI ADVANCE CORP.BRB INTERNATIONALCHT GERMANY GMBH           DOWDUPONTDYSTAR SINGAPORE PTE. LTD.ELKEM ASAEVONIK INDUSTRIES AGINNOSPECKCC SILICONE CORP.MITSUBISHI SHOJI CHEMICAL CORP.SHIN-ETSU CHEMICAL CO. LTD.SILCHEM INC.SPECIALTY SILICONE PRODUCTS INC.WACKER CHEMIE AG

Browse More Related Reports:

Global Markets for Adhesives & Sealants or Joining and Fastening: This report provides a comprehensive overview of the global adhesives and sealants market, emphasizing their critical role across various industries including transportation, woodworking, packaging, construction, medical and healthcare, and consumer goods. With growing industrialization driving demand, advancements in adhesive and sealant technologies, such as hot melt, solvent-based, and silicone formulations, are crucial. The market analysis includes segmentation by type, technology, chemicals, curing techniques, and end-use sectors, forecasting market growth from 2024 to 2029 across key regions like Asia-Pacific, Europe, North America, and the Rest of the World (RoW). Key players, market strategies, and environmental, social, and governance (ESG) considerations also feature prominently in this assessment of the market landscape.

Elastomers: Applications and Global Markets: This report provides comprehensive insights into the global elastomers industry, detailing the several types of elastomers, such as thermosets and thermoplastics, and the processes associated with them, including injection molding, extrusion, adhesive, and coating. It also examines the key end-use industries that rely on elastomers, such as automotive, industrial, medical, consumer goods, and building and construction. The report offers market estimates based on manufacturers’ total revenues, with projected revenue values presented in constant U.S. dollars. Additionally, the market is segmented by region, covering North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW).

Directly purchase a copy of the report with BCC Research.

For further information or to make a purchase, please get in touch with info@bccresearch.com.

About BCC Research

BCC Research provides objective, unbiased measurement, and assessment of market opportunities with detailed market research reports. Our experienced industry analysts’ goal is to help you make informed business decisions, free of noise and hype.

Contact Us

Corporate HQ: 50 Milk St. Ste 16, Boston, MA 02109, USA

Email: info@bccresearch.com,

Phone: +1 781-489-7301

For media inquiries, email press@bccresearch.com or visit our media page for access to our market research library.

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher.

Logo – https://mma.prnewswire.com/media/2183242/4931371/BCC_Research_Logo.jpg

View original content to download multimedia:https://www.prnewswire.com/news-releases/silicones-market-positioned-for-significant-growth-expected-to-reach-23-3-billion-by-2029–302257644.html

SOURCE BCC Research LLC

Continue Reading

Technology

GDT Expands Collaboration Capabilities with MDS Acquisition

Published

on

By

DALLAS, Sept. 25, 2024 /PRNewswire/ — Global IT solutions provider General Datatech (GDT) announced that it has acquired MDS Global IT (MDS) to expand its international collaboration and contact center practice.

MDS’s deep expertise in Cisco Unified Collaboration and Unified Contact Center Enterprise complements GDT’s industry-leading capabilities in networking, data center modernization, and security. MDS adds customers in the healthcare, retail, banking, technology, and manufacturing industries to GDT’s large existing client base. The combined capabilities and significant scale of GDT and MDS together create new opportunities for customers on both sides.

“GDT continues making strategic business investments to scale our capabilities, meet the growing digital transformation needs of customers, and expand global market share,” said Shawn O’Grady, Chair and CEO of GDT. “We look forward to welcoming MDS’s clients and employees to GDT. We believe both parties will benefit from our expanded capabilities and scale, especially in segments like modern networking, security, and hybrid data center.”

“MDS brings a long list of strong customer relationships and deep capabilities in the collaboration and contact center space through its US- and India-based resources,” said Kyle Dziubinski, CEO of MDS. “I’m thrilled to bring the strength and breadth of capabilities of GDT to our existing customer base.”

About GDT

As a global IT solutions provider, GDT accelerates its clients’ digitalization and business goals by transforming and modernizing platforms, networks, and cybersecurity through industry-leading infrastructure solutions, deep expertise, and flexible service delivery models.

GDT has a 26-year heritage and a global workforce, including its Indian Technology Center in Bangalore. Partners consistently recognize GDT for expertise across its solution stack. GDT maintains over 450 certifications with the world’s best-known technology providers. GDT’s history, knowledge, and global reach provide the foundation for developing rich, sustainable services and solutions that push its people to the forefront of IT thought leadership and expertise.

Follow GDT on LinkedIn and visit www.GDT.com.

Logo – https://mma.prnewswire.com/media/1718058/GDT_logov1.jpg

View original content:https://www.prnewswire.com/in/news-releases/gdt-expands-collaboration-capabilities-with-mds-acquisition-302257509.html

Continue Reading

Trending