Operating on sharp lines and thin edges, the Banking & Finance sector has come a long way to be one of the most advanced sectors.
But, what is mobile banking and how it works?
Mobile learning is one of the many areas the Banking sector has excelled in. The recent numbers divulged by Gartner reveal that the number of smartphone sales has gone high. Till 2020, 1.9 billion people will be shopping by mobiles. It is a method by which banks can make use of mobile technology.
In such a scenario, the banking industry is also aiming to retain the customers through ‘Branchless banking’, i.e. banking through mobile learning!
Let’s look up about the importance of mobile banking and how the mobile learning affects the loan & credit sector. Here are a few advantages of mobile banking:
1) The concept of ‘tap & pay’ is a great attraction to people living in areas with no to minimal access to traditional banking system, i.e. the ‘Real’ banks. Making purchases, paying the bills and availing credits can become as simple as ABC. Where the underdeveloped areas face lack of capital & resources and the cost of living is too less, the recruitment of staff and constructing the banks is just an added cost which is avoidable because of mobile banking.
2) Mobile learning means one can learn anything in limited time. You do not need to practically attend a financial seminar or be aware of the weekly economic report. The easily mobile devices will give all the information & also the portfolio enhancement courses like calculus & disaster management.
3) It is easy to create video storyboards through which the customers can understand the banking sector and the related features and opportunities. Now, these videos can be used to create engagement in various ways. From recruitment of the employees in a bank to training them, the video storyboards can be helpful as they are created at a relatively low budget than other training methods. To advertise the services to a customer, videos are an impactful way as they deliver the message in the least amount of time. The lucrative part is that every user has a mobile device like a smartphone, laptop, tablet, etc. This way, even the most dreariest & intricate concepts of banking are well received by the target audience which also helps in marketing.
4) The digitalization of our workplaces is a benefit to the customers and the workers. The employees can replace their desktops with mobile devices meaning they can tackle problems even while they are on breaks in emergency situations. The website & mobile application integration has made things so smooth that a user can log into his/her bank account from any mobile device of the world. These are the latest features of mobile banking. This also limits the possibility of fraudulent cases since the tightened security in mobile devices is optimized in a tactful manner that requires multi-step & gesture identification.
Quality mobile banking is an easily adaptable method & one of the key benefits of financial services industry.
If you think Virtual Reality has restricted itself to gaming, here’s a reality check on technological progress. The Virtual Reality never fails to marvel me with the astounding speed it is taking over different industries, and all for good.
3D modeling and visual simulation are all geared up to grab a permanent seat around you. Are you aware?
The 5 Ways Virtual Reality is Promoting Our Engineers & Architects Towards Progress
1) The sketch models of the under-progress constructions can be immediately witnessed as accomplished buildings through virtual reality construction simulation. This has immense benefits for different users. The constructors, i.e. the engineers & the architects can visualize how the building design will look. It is also a smart way to show the investors how the completed projects will look. Since the technology also enables the user for physical interaction, your clients can use the electronic hardware to get a hang of the structure & design.
2) The Virtual tours in buildings can happen anytime, anywhere. The pro thing is that the whole process gets more affordable. How reasonable is it to make the structural changes in a building after it is completed! Quite a hassled experience, isn’t it? The great part is that everyone can be on the same page before the construction springs up.
3) Railways are the backbone of an economy. A strong network of railways drives the economy by empowering the working and the studying class. Mapping, prototyping, and building work become more realistic and futuristic when the ideas are conceptualized with help from Virtual Reality. Getting the projects passed and mapping the estimated cost – everything becomes streamlined. This is an inevitable virtual reality engineering application.
4) The automobile market where so many products fail in the testing phase for not meeting the safety standards can benefit productively from the virtual reality engineering software incorporation. Rather than approving the designs and then developing the vehicles, it would make a lot more sense if those are tested previously & then prototyped.
5) In general, there is a lot of equipment that engineers and architects will get their hands on, for the first time. Now, one can not be a pro and operate these like an experienced. Some of these might also have a no-error protocol where one mistake is a question of life and death. A safe and economical way to allow the employees ace up their jobs is to let them operate such equipment in a safe and protected, besides being economical virtual world.
Virtual reality engineering jobs means engineers with advanced knowledge & architects with better conceptualization. With a sense of depth that VR offers, the thin line between real & virtual can vanish.
Last month saw new ground broken in the world of education when the first ever professional development event for educators took place inside virtual reality. Dubai-based educator Steve Bambury worked with award-winning virtual reality developers Immersive VR Education to host three sessions across June 15th and 16th. The sessions were delivered using the innovative Engage platform which runs on the HTC Vive and Oculus Rift virtual reality systems. Educators without a Vive or Rift were also able to join the session directly from a PC.
Steve is Head of Digital Learning at the prestigious JESS Dubai schools. He is also an Apple Distinguished Educator and a Microsoft Innovative Educator Expert. In 2014 he won the first GESS Award for Best Use of ICT for his work on the acclaimed iPad Educators website and then won the award again in 2016. Steve has been using VR in the classroom since late 2014 and has always been outspoken about it’s growing importance in education.
“I’m always looking for new ways to push education forwards,” said Steve. “VR will become more and more integral to education over the next decade and this type of PD will become more commonplace. It was exciting to be the first educator in the world to actually try and accomplish it.”
The event included educators from more than fifteen countries, including USA, UK, UAE, Spain, Turkey and New Zealand, who joined Steve in a virtual lecture theatre for a presentation about VR in Education. The presentation was structured around Steve’s model for VR in education which details four levels from Perception to Immersion. The model has become incredibly popular within the VR education community with hundreds of shares across social media and beyond.
This was then followed by a demonstration of some of the amazing features of Engage itself, including the insertion and manipulation of animated 3D models and some dramatic changes in the location. These included a trip under the sea and even a visit to Mars, with delegates donning spacesuits.
“Engage really is at the cutting edge of what is currently possible in VR,” explained Steve. “The fact that we were able to host teachers from across the globe, whilst I was running a presentation directly from OneDrive and also importing detailed 3D models really was remarkable.”
Founded in Ireland in 2014, Immersive VR Education have turned heads with applications like Titanic VR and the multi award-winning Apollo 11 VR. Engage is still in a beta stage at present but is already raising the bar for educational VR experiences with its broad depth of content and versatility. These sessions with Steve are allowing the company to field test the application more fully, with the team making adjustments and updates throughout the course of the two day event to ensure that users enjoyed the best possible experience.
Plans are now in motion to deliver more of these sessions over the coming months with the next already scheduled for July 11th. For this session, Steve is trying something different again. It will take the form of a chat show with a panel of special guests form the world of VR education. Scheduled to join Steve are Jaime Donally from America who has just returned from presenting several VR themed sessions at ISTE and who hosts the popular #ARVRinEDU Twitter chats. Joining her is Chris Madsen AKA Deep Rifter. Chris, also from the United States is Director of VR for Morph3D and a long time VR innovator who was recently named as one of the top 100 VR influencers. The panel is completed by Dr Sana Farid from Bahrain – co-founder and CEO of Munfarid Consulting and VRXOne and one of the Middle East’s leading voices in VR education.
Google has been the paramount scorer as the ‘Best Employer’ and ‘Best Company to Work For’ positions in the annual lists of three credible news sources – Fortune, Glassdoor, and Forbes.
The company is known for updating itself regularly before any other company in the market; leaving aside its powerful brand logo which has remained unchanged over the years. The company on the occasion of its annual developer conference, the Google I/O revealed its plan of launching Google Expeditions in Augmented Reality. ‘Google Expeditions‘ is an empathetic tool that helps students visit the distant places in real time. These field trips give the students a first-hand experience of understanding the facts and making records.
The declaration was made by the adept Google Vice President for Virtual and Augmented Reality, Clay Bavor who is a Princeton University graduate in Computer Science. Bavor revealed that this upcoming program is named ‘Expeditions AR’ and it will substantiate the initiatives for its Tango AR platform already under R & D. The platform uses Visual Positioning Service (VPS) to trace indoor locations. VPS is just like a sibling technology to GPS. The good difference is that VPS is more welcoming and invites you into its world. Through VPS, one can go inside a place and traverse it. This is how AR backed by VPS will help the students jump out of the normal world. The Expeditions AR program will be made available from this autumn and the schools looking for a ‘vibrant touch’ to the lessons can sign up for it.
Bavor has been working closely with Sundar Pichai, Google CEO. Since October 2014, Pichai has manoeuvred the steering of every product launched by Google by engineering it to perfection.
As per Sundar Pichai, “The core of Google is about bringing information to people”, apparently the reason he has been voicing out his support for research and development regarding Artificial Reality.
The CEO has been very vocal about the interest of his company in making the information sector more clear and concise.
Addressing the audience once he quoted, “Virtual reality can spark students’ imagination and help them learn about topics like how blood flows through the human body or the impact climate change is having on the Great Barrier Reef, in an engaging and immersive way”.
With the news of Google Expeditions to be backed by Augmented Reality, it’s the time for other businesses as well to realise that the more visual the information, the better the retention. The Middle East has been one such region of pragmatic people who understand the need to evolve with time. The region has been very receptive to Artificial Reality and organisations like Munfarid Consulting prove the point.
The first Middle East-based company to bring Virtual Reality in Education, Munfarid is co-founded by Dr. Sana Farid, an academic influencer. The company addresses challenges pertaining to academic learning, employee training, on-field experiences, learning methods, research work, etc.
The company provides solutions to facilitate Game Based Learning, Bite-Sized Videos and Virtual Reality in different walks of life. VRXOne, a product of the company is a Virtual Reality experience kit. The kit provides a comprehensive VR program with realistic 3D environment, to improve methods of training predominantly in the education, healthcare, and corporate sector. From deep seas to high mountains, VRXOne replicates every concept in the classroom.
The company recently partnered with Google to bring Google Expeditions in the Middle East.
Augmented Reality is no doubt, fluttering its wings, the technology that awaits us to bring lessons to life.
As the general conscience goes, only bigger organizations with hefty budget allowances need online training. This is a myth. Like every individual undergoes change through life, in a similar way, every working professional needs a regular training for the upgradation of prowess and skill.
No shocker that the training method which is online cuts short the instruction time to 60%.
Here are a few more factual points making it very clear why online training is popular!
Let us discuss some of the benefits of online training in the workplace, very evident through the corporate e-learning statistics.
1) As hard as it may be to digest, but it is a known fact that corporate training is actually more cost effective in a prolonged period of time for a company. As compared to the traditional methods of training, the online training means more retention, which means more ROI (return on investment). This also means that the training material can be used over and over again. Most importantly, it is very easy to duplicate the content for training and reproduce if the company is relocated. With the cloud-based learning system, the cost of printing is subdued because of the copy-paste method.
2) The best part about online training is that it caters to individual needs. No two employees can be similar and that is why they need personalized attention. Your employees can go through the content explained to them in a training session after the presentation file is mailed to them. This ensures that they understand the concept with clarity and at their convenience. No one needs to rush through or retard the pace because of someone else.
3) The ability to learn wherever makes the online training method stand out. One might be present at any location of the world but he/she will be able to benefit from the training – props to the learning system that enables the users to video conference anywhere without being present on the site. The virtual meeting sessions and webinars make it easy to uphold the proactiveness in work.
4) The method is performance and productivity enhancer. The traditional and the very conventional talk and chalk method can be improved beyond imagination. This is because online training does not create boredom and monotony. The time of such training can be preponed or postponed. This rescheduling ensures that the work schedule of the employees is not affected and they steer clear of any pressure. Goes without saying, that learning is ensured.
It is a moment to question the conscience if one thinks that the corporate e-learning solutions are just another training practice. For, this wonderful training method helps every individual yo climb up the ladder and achieve their long and short term goals.
Investing in the human capital of your company means, generating a way of revenue. The money and the energy spent is worth the while & capital. The advantages of e-learning in the corporate training environment are uncountable.