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Day: 10 September 2019

7 Factors To Consider While Switching Jobs

Posted on by Imarticus Learning

7 Factors To Consider While Switching Jobs

Is quitting your job the first thing that comes to your mind as soon as you wake up? Is the month-on-month paycheck the only thing you look forward to? While certain statistics say about 85% of people actually dislike their jobs, your scenario might slightly differ if you like to work but dislike your job. Honestly, the decision of whether to make a job switch or not can often be quite overwhelming and taxing.

Here is a lowdown of the seven factors you should contemplate before you take the leap or decide to stay put.

1| Think why do you want to change your job

Before you make up your mind to quit, take a deep breath and think of all the reasons that interest you in the new job opportunity. Are you looking for a quick fix and heading for the first exit that props up in front of you? Weight your current career goals with the prospects you have in hand, and see where you stand. If you feel that the new job shoot your career trajectory upwards from where your end goal is visible, go for it.

2| Consider if your new job offers better career growth

Every person’s ideal job situation is to work for a company which stimulates their personal growth, lets them hone their own skills while they simultaneously contribute to the overall growth of the organization and business. Sharpen your strategies and compare your present organization with the potential job offer. Always think long-term; while the salary holds importance, it is also essential to judge personal development and potential for paving an advanced career path in the future.

3| Judge your work environment

A great designation, a swanky office or a buzzing cafeteria may not be the right way to judge the work environment of the company. After your interview is done, try taking a quick tour of the office premises; figure out if most employees around you look content and happy or appear exhausted and stressed. If the overall happiness quotient seems high and people are friendly, it might be a good environment to work in.

4| Look at the location and figure out the commute

As unimportant as it might seem initially, long commutes are known to be effective mood-spoilers! Imagine taking a crowded metro ride first thing in the morning and then changing two other modes of commute to get to your destination. Not to mention traveling in the scorching summer heat. Sounds exhaustive, doesn’t it? Think over factors like available commutes and rush-hour traffic before taking a call.

5| What is the pay like

The comparison between your current salary and the pay you are being offered at your new job is perhaps the most important thing to consider before you make up your mind. However, it is also good to have a set expectation based on your geographical location and current position in the company. Start off with initial research and find out how much other people in the same professional arena are generally paid.

6| Think if the total compensation package is beneficial for you

You may be offered a very attractive salary at your prospective employers’; however, pause and think about the overall benefits you are being offered. Better bonuses, flexible schedules, more vacation time, pick-up and drop options if available, an ample provident fund contribution or an attractive health insurance offer, go a long way in keeping an employee happy and satisfied. Weight your entire compensation package instead of merely focusing on your salary.

7| If the job role is challenging enough and will let you grow

A change of job role is an important milestone in your career development plan. What is important to understand is, if it will keep you on the tip of your toes and push you to take up more challenges that will only enhance your career. Does it offer you leadership opportunities and voice your challenges or concerns in front of the management? Will your projects be rewarding enough to work on? Make sure these questions are answered in your mind and out loud by the hiring manager before you come to a decision.

Changing jobs come with a whole new set of risks. However, if you have thoroughly researched your and analyzed your prospects, then go ahead, trust your gut and take that leap with switch fast career. 

For more details, you can directly visit: Imarticus Learning and can drop your query by submitting the form on the website or can contact us through the Live Chat Support system or can even visit one of our training centers based in – Mumbai, Thane, Pune, Chennai, Bangalore, Hyderabad, Delhi and Gurgaon.

 

What Are The Ways To Improve Customer Experience In Banking?

Posted on by Imarticus Learning

What Are The Ways To Improve Customer Experience In Banking?

The digital disruption of banking has today revolutionized customer experience. Not only has it made the leap from conventional to convenient, but it’s also gone online and into your cellphones. New-age banking refers to this process– the digital transformation of traditional retail banking into one that gives more as demands are more.
One of the core focuses of digital transformations is to drastically improve customer service.

This is especially crucial in the light of fintech firms, online banks, and non-banking companies coming into the fray for payments and asset management. One of the highlights of traditional retail banks is the opportunity they have to meet, converse and maintain a relationship with clients in the flesh– something pure-play digital banking firms haven’t achieved yet.

That said, it takes a lot of time, effort and resources to begin a digital transformation, let alone complete it within a set span of time. New-age banking training is crucial for anyone looking to join the retail banking sector today, or even for those professionals wishing to retain their bank jobs and become future-proof.

How then, can conventional retail banks improve their customer experience through new-age banking training?

Enable digital on-boarding
New technologies allow banks to move verification of credentials online, using digital IDs, fingerprints and even voice recognition software. This is very helpful for clients, who till date have had to fish out credentials and IDs for every major banking transaction.

Through training, employees can learn how to manage this new technology without a hiccup, because a crucial part of bringing in new technology is ensuring there are people to effectively manage it. This improves customer experience and speeds up operations.

Automate or move basic processes online
The retail banking experience needs to be seamless to hold the fort against other online competitors. A good way to begin this is to automate or make mobile basic processes such as opening a new account and resolving issues. Relationship managers can be trained to operate front-line AI systems that carry out routine calls and checks on silent clients.

Improve personalization
Hyper-personalisation is a benefit of digital transformations, especially in this age when clients expect to be treated on an individual basis rather than as part of a general segment. Through a new-age banking course that focuses on customer service, employees can understand how to target customers based on their individual data.

This could be in the form of relatable discounts based on spending categories or sending location-specific push offers. A banking course that covers personalization in customer service can make trainees more efficient at their job role and keeps clients happy as well.

Establish self-service areas
While this idea hasn’t caught on as much in India, it’s a viable option for banks that see a lot of footfall around basic processes that don’t need too much human intervention. Interactive walls and digital terminals are just a couple of options to introduce new-age tech into banks.

Employees can then focus on assisting clients based on their response at digital terminals, or if there’s an extensive issue that the terminal can’t solve. This way, employees can focus more time and effort on actually providing help rather than going through the motions frustratingly.

Improve internal efficiency
When new technology is installed, there will always be a period of confusion. To minimize the damage caused by this period, employees must receive new-age banking training that not only helps them understand the technology that’s in use but also how to use it to leverage their performance. This could involve revamping structures, breaking down internal job silos, even bringing dedicated experience teams into the picture.

New-age banking is no longer a thing of the future, it’s a reality. To get with the times and future-proof themselves, employees must undergo training that exhaustively covers new technologies. Retails banks will only benefit from such an investment because tech-savvy employees mean satisfied customers.

For more details, in brief, you can also directly visit: Imarticus Learning or can contact us through the Live Chat Support system or can even visit one of our training centers based in – Mumbai, Thane, Pune, Chennai, Banglore, Hyderabad, Delhi, Gurgaon, and Ahmedabad.

What Machine Learning Has To Do With Your Personal Finances?

Posted on by Imarticus Learning

What Machine Learning Has To Do With Your Personal Finances?

Machine learning is a subset of AI technology that develops complex algorithms based on mathematical models and data training to make predictions whenever new data is supplied to it for comparison. Artificial intelligence is the ability of machines to simulate neural networks and human intelligence through machine learning courses without the use of any human intervention or explicit programming.

Though these two concepts that always go together have been around for ages, the past two decades have seen a phenomenal rise and exploitation of benefits of ML applications.

Let us explore some applications in real-life in the financial services area where they have made huge differences in customer service, fraud and risk management, and last but not least personal finance.

Examples in Customer Service:
Chatbots are the latest feature of financial services being deployed to aid and automate and reply when asked frequently asked questions, common customer service answers and requests, help in bill payments, provide information on services and products and more.

Since they work with NLP-natural language processing they understand the query and answer appropriately. But there are instances when the scenario does not fit the scripted questions and the conversation is beyond their comprehension.

ML is important to teach the chatbots in customer service to assimilate data from interactions where the AI can self-learn how to respond in the future based on the experience they gather. Obviously more the interactions, the better they get.

They are also capable of recognizing emotions like frustration, anger and so on where they can diffuse the tensions by transferring to a live customer service agent for further help or resolution. Often they up-sell products, introduce the newer services and help in transactions like making automated payments.

During the course of such interactions, they can also pick up customer behavior trends like the possibility of defaults due to cash-flows. Imagine how satisfied a customer would be when it is the due date for payment, the account is bereft of money and the chatbot work efficiently offers a different due date, a short-term loan or a customized payment plan.

That’s just a small example of the chatbot and its machine learning courses enriching the customer or user experience.

Examples in Personal Finance:
ML comes to the aid of financial institutions by specializing in the service of customers needing applications for budget management, offering guidance and highly targeted financial advice. Such apps are made for mobile devices and allow their clients to track their daily spending.

Using their innate ability to spot trends they can help with budgeting, saving and investment decisions and plans by watching and learning from the client’s spending and purchase patterns.

Ina real-life example a leading bank spotted the trend of people from a certain segment facing problems with their cash flow and using their credit cards for late-night transactions and withdrawals. By flagging such abnormal behaviour it was found that the segment faced unduly low-interest rates in their savings accounts. Based on such foresight the bank not only improved its savings rates but it also offered the segment increased credit limits to restrict defaults on payments.

ML intelligence worked very well since the bank retained its customers with such an offer and also saw an increase in its savings accounts deposits.

Examples in Fraud and Risk Management:
In the fields of risk and fraud management the daily number of transactions to be scanned, are very large and involve huge sums of money. In modern times online payments have emerged as an ideal spot for fraud perpetration. Paypal the market leaders, have employed machine learning courses specializing in risk management and fraud detection and using Big Data, complex neural networks, and deep learning capabilities. Any abnormal behavior is flagged and forms a sandboxed risk queue within milliseconds.

The cybersecurity challenges are confrontable by smart ML algorithms. The detection of phishing attacks is dependent on the algorithm being able to easily compare the original and fake sites for logos, visual images, and site components. T

hey can also detect unusual behavior once they are trained on recognizing normal patterns on a profile or account. A red flag is immediately raised and the user is asked to verify the transaction.ML is also used in risk scoring, assessing defaults in payments, automating credit scores and compliance issues, assessing loan applications and every transaction in between.

In conclusion:
Machine learning is not restricted to any one field. However, the applications can get very complex and extend far beyond these few examples. ML helps in better security, increasing operational efficiency and delivering better customer service or user experience.

If you would like to learn more, then do the machine learning courses at the Imarticus Learning Institute where technologies of tomorrow are taught and skilled for today.