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How Pharma Can Become a Trusted Partner in Managing Patient Data

In this panel from Digital Pharma Innovation Week, senior leaders from GlobalLogic, Takeda, and Novartis examine how patients view the use of their data and how they apply this thinking to digital solutions. Topics include:

How pharma companies can communicate to patients regarding their data to promote a positive and empowered perspective
The value of using deep insights into patient populations to maximize the benefit from digital solutions and behavioral science
How to create a sustainable mode for data that is holistic enough in its approach to set a path for establishing a data donation strategy

Speakers

David Hamilton (Group Vice President, Healthcare and Life Sciences Business, GlobalLogic)
Chris Easton (Sr. Director, Global Commercial Lead - Personalized Health & Innovation, Rare Hematology, Takeda)
Sander Ruitenberg (Head, Global Digital Health Solutions IHD, Novartis)

OTT IPTV Content Protection

As media customers increasingly choose to view video entertainment online through streaming providers, security throughout the process becomes a critical issue. Content owners and service providers need to establish protocols and sign formal license agreements to ensure the legitimate end use of their products.

Which content rights must a service provider acquire before allowing a user to access its media? Learn how content licensing involves acquiring rights pertaining to areas like streaming, purchasing/renting, and recording, and abiding by restrictions such as geo, age, and download restrictions.

Improving the Customer Experience: A Top Priority for Banks & Financial Services in 2021

The banking and finance industry has been very successful for a long time, with its well-established rulebook for products, services, and processes. However, in this increasingly digital age, banks and financial services providers have become far less effective with their legacy systems and data fragmentation — which is why most have jumped on the bandwagon of digital adoption to provide better customer service.

COVID-19 has also triggered these institutions to fast-track their digital incumbency and find ways to serve their clients better. For instance, 44% of retail banking customers said they are using their primary bank's mobile app more often(1). There is a similar pattern in commercial banking (e.g., Bank of America's business banking app witnessed a 117% growth in mobile check deposits(2). Furthermore, banks and financial services providers are now competing against FinTechs and start-ups who are digital natives.

Top Banking Priority for 2021

According to a digital banking report by The Financial Brand, one of the top banking priorities in 2021 is "improving customer experience." (3) As new technologies continue to transform the ways we engage with banks and financial services providers, customers are more likely to focus on the experience that an institute provides them rather than just the product or service offerings.

As we look deeper, it seems that customers consider their banks and financial services providers to be trusted advisors who help them proactively manage their financial challenges and opportunities, while maintaining data security and safety. The customer experience (CX) has gone beyond the realms of technology alone to include multiple in-house processes, customer support services, and client / employee feedback. All these sources of input create an unequivocal journey map for customers, with data being collected across the entire set of customer interaction touch points.

Designing a Better CX

To ensure that customers stay engaged instead of searching for a better service provider, banks and financial services providers must intelligently leverage technology to improve the customer experience — such as providing seamless user interaction through platforms, responsive communication through both BOTs and associates, proactive customer support through big data & analytics, and gaining customer trust through security & data privacy solutions. Some of the most significant CX trends that could differentiate an institution in 2021 include:

Proactive Customer Engagements: Banks and financial services providers can become a trusted advisor by using big data and analytics technology to suggest timely, customized updates and service offerings. This data, which is collected across touchpoints, must be analyzed using big data engines to cater to a customer’s expectation based on past behavior. A proactive suggestion — using analytical frameworks across channels like a banking app, text, email, or call — might help a customer hedge against a financial warning or leverage upcoming opportunities. This will lead to customer satisfaction and increased loyalty. Similarly, using intelligent BOTs to handle everyday customer support will enable banks to function 24/7 without needing significant involvement from branch locations or infrastructures.
Digital Product Portfolio: The FIS Consumer Banking Report says that "72% of all bank interactions are digital." (4) The mobility of products and services has become a mandate for banks and financial services providers, as their customer bases have a growing digital affinity. A well-defined, user-friendly mobile app that enables a customer to access their bank at their fingertips will enhance their CX, as compared to visiting a physical branch for support.
Hyper-Personalization: According to SalesForce.com, “62% of consumers expect companies to adapt their products or services based on their own actions or behaviors.” (5) Therefore, banks and financial services providers need to use all available data to assess and offer solutions that are specific to their customers’ needs. Hyper-personalization enables customers to feel connected and results in revenue generation for institutions.
Seamless Omnichannel: Nowadays, most customers use online, offline, and social media channels to research, compare, shop, and seek support for products and services. Hence, banks and financial services institutions need to provide a consistent, highly intuitive user experience (UX) interface across all customer touchpoints, including banking apps, websites, social media, and physical branches. Even for a bank's most archaic processes, the technology stack and methodologies must be revamped to create a unified approach to customer engagement.
Data Transparency & Security: Customers want transparency into how their personal data is being managed, as well as a fool-proof security architecture to avoid any unprecedented data leaks. For ages, security has been a “prima facie” topic of interest for all banking organizations — and this trend will continue as banks and financial services providers invest in safeguarding against new and existing digital vulnerabilities.

How GlobalLogic Can Help

GlobalLogic is a Digital Product Engineering and Experience Design company that helps businesses define, design, build, and deliver their next-generation products and digital experiences. We have done some exceptional work on digital transformation, machine learning, and front-end design for Fortune 500 banking and financial services institutions — including 4 of the Top 5 UK banks.

We have broad technical expertise in the design and delivery of various CX solutions to reconnect businesses with their customers. GlobalLogic enables banking and financial services providers to cut through the complexity of existing systems and deliver personalized, seamless, omnichannel customer experiences that are highly effective and keep customers engaged.

Conclusion

Customer Experience maturity is becoming a prevalent marker for digital acceptance among banks and financial services providers to drive revenue, retain customers, and compete against FinTechs and start-ups who have already invested in new technologies. Moving forward in this digital age, customers are more likely to stay engaged with their financial services provider if they can expect a personalized, unilateral experience across digital channels and transactions.

References

Jim Miller, “Financial services COVID-19 pulse survey,” slide 35, J.D. Power, September 25, 2020. (Link)
Bank of America, Q3 2020 financial results, October 14, 2020. (Link)
Top Digital Banking Transformation Trends for 2021 (Link)
8 Trends Transforming Digital Customer Experience in Banking (Link)
Customer Expectations Hit All-Time Highs (Link)

Smart Thermometer to Support New Normal – COVID-19

As employees return to workplaces during the pandemic, businesses need ways to ensure they are healthy and not spreading COVID-19. At the same time, it would be beneficial to assess worker health while reducing or eliminating physical contact points.

How could health-monitoring technology connect with mobile apps to prevent workplace infections? In this paper, you’ll learn about possible architecture to connect employee vital statistics in a health band cloud to existing building-access mobile apps. In addition, a proposed integration of the health band cloud to cab-booking systems can reassure customers that cab drivers are not infected with COVID-19.

Reducing Threat In Retail

Customers are increasingly choosing to pay for retail goods using digital means, especially now during the pandemic when physical touchpoints are discouraged. However, digital money transfer is vulnerable to cyber-attacks on many fronts.

How can retailers protect customer data along all points of the financial transaction? In this paper, you will learn about the major threats to retail transactions, the role of encryption, and how to use various encryption applications to keep data secure during the payment process, while it travels along networks, and when it is stored in a cloud or database.

NFC Tag-based System with Machine Learning in Retail Marketing

As consumers increasingly come to expect a digital experience when they shop, businesses must integrate technology into all aspects of the customer journey. Near-field communication (NFC) is one such technology that is already being used for no-contact payments with phones and credit/debit cards, but it can be applied in many more ways.

How can retailers employ near-field communication powered by machine learning as a marketing solution? In this paper, you’ll learn about the architecture of an NFC-tag system, examine the use cases all along the purchase journey, compare NFC to similar technology, and see how it can be applied now and in the future.

Approach to Implement Media Automation Testing

With manual testing of IPTV and OTT platforms becoming increasingly challenging, there is a real need for a dedicated automated testing tool that covers all areas of media automation. However, this is complicated by the fact that different types of testing are required across various devices.

In this whitepaper, you’ll learn about the different testing requirements and the industry-standard tools used for each. We’ll also propose a possible solution that you could apply to all aspects of automation testing for the media industry and provide sample architecture for this.

In-App Promotions, Introductory Offers & Promotions

Introductory and promotional offers are two great ways for mobile developers to support business growth, and they can be used alongside auto-renewable subscriptions for even greater impact. How can you use free trials, pay-as-you-go, and other offers to drive new business?

In this paper, you’ll find specific recommendations and actionable tips for the different types of in-app promotions, campaign duration, and which promotions to use to meet your specific goals. Learn how to test your introductory and promotional offers to get the best possible result.

Impact of Augmented and Virtual Reality on Retail and ECommerce Industry

The pandemic and the stay-at-home orders that came with it drove a massive shift from real-world shopping to online. As consumers sought to fulfill their needs, the pace of retail innovation has accelerated to meet them in their decision-making moments with rich, compelling shopping experiences.

How is augmented reality being used in retail and ecommerce now? In this paper, you’ll learn how to enhance customer experiences with AR, explore real-world use cases featuring major retailers, and discover lesser-known benefits of augmented reality in ecommerce.

Digital Marketplace for Content

The pandemic has increased the pace of digitalization and adoption of new technologies. Consumers have become more accustomed to dynamic, digitally enhanced shopping experiences thanks to marketplaces such as Amazon, Udemy, Spotify and eBay. How can you create experiences that “wow” customers in this digitally charged environment?

In this paper, you’ll learn how to use content prototypes, offers and discounts, and different ecommerce marketing techniques to deliver relevant, engaging experiences.