Anteelo Master, Author at anteelo

Social Media Towards Its Next Evolution Set By Technology

Posted on 27/08/202009/06/2021 by Anteelo Master

From a time when an old school telegraph was considered to be the hottest medium of establishing communication to now when Facebook has doubled down its effort on the development of a mind-reading device, social media has already crossed several stages of evolution. Stages that have established it as a sector that is here to stay and grow. One of the pivotal factors behind the unprecedented growth that the domain is witnessing both in terms of users and scope of constant growth is the technology used in social media.

These number projections are the direct result of the direct influence of technology on social media. The constant inclusion of communication and content creation, distribution aiding technologies like native mobile apps – getting business access to users’ camera and GPS – geotagging, AI for image recognition, etc. have helped shape the current stature of the social media domain on a global scale.

In this article, we will be briefly revisiting how far social media technology innovation has come since Six Degrees, the platform that ruled 1997 followed by a look into the new technologies for social media.

The Evolution of Social Media – A Timeline and Key Events

The future of social media technology began in 1997 with SixDegrees.com, the first social media site. The platform enabled you to create a profile page, curate a list of connections, and send messages to your network. At its peak, the website was used by over one million users before being bought over for $125 million and facing an ultimate demise in 2001.

The failure of Six Degrees, like its success, was followed by a number of social media networks. Around the time and early 2000s a number of new social media platforms like Friendster, AmIHotorNot.com, MySpace emerged and witnessed their decline in the domain.

However, there were a few that, at the back of their strong business model ready for growth from day one. Here are some of the social media platforms that continue to come on top of the social media landscape in terms of user count –

In addition to these, there were some other key names in the social media technology evolution landscape – LinkedIn, foursquare. Grindr, Pinterest, Snapchat, amongst others.

An unvalidated fact behind the growth and sustainability of the selected social media platforms can be seen in the incorporation of the right technology in the domain. Let us delve into it deeper.

The Importance of Technology in Social Media

The role of technology in social media evolution, although starts with the advent of smartphones and laptops on a precise level, begins with mobile apps. In 2019 alone, it was estimated by a Lyfemarketing report that over 91% of all social media users use social channels through mobile devices.

There can be a number of reasons behind the rise in mobile application adoption for social media usage:

Convenience in terms of not having to open a laptop and opening the application within three clicks.
Integration with mobile in-built features like camera, location, microphone, etc.
Ease of capturing and sharing content

We believe that up until this point you must have gathered the need for social media application development. However, the list of the impact of technology on social media doesn’t just end with one component. There are a number of other technologies like APIs, geotagging, QR codes, etc which have contributed to making social media where it stands today.

Technology incorporation makes social media accessible, safe, and real-time in addition to making the sector operate seamlessly with users’ experience through the mode of automation, integration with other social media applications, and eCommerce.

With the benefits of technology and social media peeked into, let us move on to the list of technologies that are helping social media app developers take the sector to its next evolution set.

Technologies Driving the Future of Social Media

1. RFID – Radio Frequency Identification Tags

RFID, in layman terms, means a small computer chip that can store information about an individual or object. Every chip comes with a unique serial number that can be tied to the information present on the chip. Let us give you a practical application of this technology through this example – Suppose you are at a music concert and you scan your RFID device with an RFID device that has social features integrated into it. By simply bringing your RFID device to the other one, you will be able to Like a band on Instagram or Facebook or download a couple of their music tracks on your device.

The growing popularity of RFID in the event and eCommerce domain (through the mode of NFC) has led to a number of social networking app development companies integrating RFID into their mobile applications.

2. Augmented Reality

AR and mixed reality are some of the most popular social media application features. There are a number of use cases that social media houses experiment with when integrating AR with their applications but the one that has witnessed mass popularity is the use of face filters. Popularized by Snapchat, AR-driven filters are used by both individuals and businesses to deliver engaging content.

Another example of business-level usage of AR in social media can be seen in social media advertisements. Last year, Snapchat created an AR-based app for Snap Original where Bhad Bhabie interacted with the users as if they were interacting in the real world.

3. Artificial Intelligence

Out of all the new-age technologies that you will read about impacting the social media sector, the one name which will be placed on the top is Artificial Intelligence.

AI is a prime component of every social platform active in the market today. This is the number one reason why the technology is now involved in the social media app development cost on a default note.

Facebook utilizes advanced machine learning for a number of tasks: recognizing faces in poss to targeting users for advertisements and even for strengthening their search functionality.
LinkedIn makes use of AI for offering job recommendations, suggesting people whom they’d like to connect, and sending them specific posts for their feed.
Snapchat uses the capability of computer vision for tracking physical features and overlaying filters that move with them in real-time.

These business examples are a validation of how AI is a crucial part of all the different genres of the social media domain.

4. Blockchain

Decentralized social platforms is one of the most up and coming genres of the social media sector. There are a number of use cases of social media and blockchain convergence which businesses from both sides are experimenting with. Here are some of them –

The social media networks depend on ad-based business models that share a common shortcoming: the creators are unequally compensated for their content on the platform. A smart contract can be put into use here for ensuring that the creators get the amount that their content is worth without any delay or unannounced deduction.
There are businesses working towards combating internet censorship. Usually, based on a distributed ledger, the individuals will be able to read and curate their own content with a surety that no entity will be able to block access to content.

5. IoT

The last in our list of social platform and technology trends is the Internet of Things. The technology is used heavily for social media monitoring and marketing purposes by some of the top names in the industry like N&W, Disney, and Tencent, etc.

Organizations are constantly on the lookout for an IoT skilled social media app development company that would help them create solutions around real-time monitoring of data and insights coming in from social media to help them make better business decisions.

Here were the five technologies which are taking the social media sector towards a new evolution era – one that will be a lot more open and transparent in nature. Want to be a part of the revolution? Contact our team of social media experts.

Role of digital transformation in reducing business costs

Posted on 25/08/202009/06/2021 by Anteelo Master

Digital business transformation constitutes the integration of digital technologies in all areas of a business. It integrates new operational processes with improved values delivered to the consumers. Did you know that by 2023, the spending on the technologies and services that enable digital transformation worldwide is expected to amount to 2.3 trillion U.S. dollars?The above-shown statists will help you understand the global digital transformation market revenue from 2017 to 2023. By inculcating a digital business transformation strategy, you will experience a cultural shift towards more agile and intelligent ways of doing business, powered by technologies such as advanced data analytics and artificial intelligence. Digital transformation for business growth in the current landscape is more a matter of necessity than a matter of choice!

How Are Businesses Going To Function Post Covid-19?

There is no denying the fact that the current pandemic has drastically affected the way an organization works. Let’s pay attention to the current truth of the business world, shall we?

Increasing operational efficiency and transforming the existing business are the most important business initiatives
63% of organizations believe that delivering excellent customer experience as measured by customer satisfaction scores defines success as a digital-first business
Improving customer experience and increasing cybersecurity are also essential initiatives considering the pandemic

Can Digital Technology In Business Help in Cutting Unnecessary Expenses?

If you want to keep your budget in control then without any doubt your biggest ally is technology! Digital business transformation solutions as a whole cover three major sectors – operation, strategy, and management. In the operations sector, one can start with processing data in the cloud, digitizing business processes and documents, and optimizing processes.

Digital transformation strategy changes the way business functions by focusing more on customer experience and needs. In the aspect of management, it revamps the entire business model of a company further taking advantage of the commercial and productive opportunities created by the current digital trends.

How digital maturity drives revenue?

If you completely understand the importance of digital transformation in business then you know how investing in technology can lead to higher revenue by providing your consumers the well-deserved value. A pattern that held true across all industries was that higher-digitally mature companies in this year’s sample were about three times more likely than lower-digitally mature companies to report annual net revenue growth and net profit margins significantly above their industry average.

7 Benefits Of Digital Transformation In Business

1. Revenue growth

Companies that implement the digital transformation business model see an improvement in their efficiency and profits. Let’s talk numbers!

80% of organizations that have completed the digital transformation report increased profits.
85% say they have increased their market share.
On average, leaders expect 23% higher revenue growth than competitors.

2. Increased efficiency

Software development companies open up the possibilities of what is working fine and what can be improved. Constant efforts are being made towards reducing the time of execution.

With the help of digital tools, companies can not only see efficiency in their workflows but also in their supply chain by integrating those tools at each stage of development of a service or product delivery. This process can be as simple as tweaking an existing process by including a digital checkpoint or as advanced as automating a process and remote monitoring the output at each stage via IoT devices.

The traditional ranges of productivity and efficiency have now indicated an increased possibility of cost improvements to about 25%. Not only this but incorporating practices like remote monitoring, robotization, and optimizing the entire workflow improves the labor costs in percentages above 60%.

3. Increased consumer satisfaction

DT drives customer experience towards ultimate brand resonance. This is not a secret anymore. Businesses across numerous sectors are using digital platforms for gaining insights into customers’ needs, using technologies to communicate directly with their customers, and inherently transforming customers’ touchpoints.

Here are some of the ground-level ways that digital transformation solutions entail for their consumers:

Personalizing the customer journey
Seamless omni-channel presence
Embracing automation to keep customers updated.

We simply cannot deny the fact that organizations that are able to leverage design thinking into their current structure will see a significant advantage in customer experience!

4. Improved data collection and analysis

Data collection and analytics have opened up new windows for digital businesses. Data analytics tools make it easier to collect and analyze customer data and further result in making informed decisions. Data can be securely hosted on a cloud-based system, which will further allow you to save up to 50% when compared to traditional data management systems. It is one of the best ways to enhance your strategies by studying the online habits of your target audience.

5. Increased flexibility and scalability

The impact of digitalization on business is such that it allows you to explore scalable alternatives. It breaks you free from the processes that come with old technology that accept manual inputs. Modern software and processes allow one to integrate various business parts, further making it more flexible. Tasks like service requests, providing support, or connecting the data can now be automated without manual intervention.

6. Enhanced reliability and reduced risks

From a technical point of view, the old technology cannot back up, maintain and protect the data of your company as well as of your customers. This will certainly make your business an easier target for cybercrime. Hence, as your organization will grow, the technology and processes have to evolve.

By upgrading to digital tools, you’ll see improvement in the efficiency and effectiveness of current risk- management approaches. Also, remember that digital risk initiatives can reduce operating costs for risk activities by 20 to 30 percent.

7. Increase agility

Business transformation makes organizations more agile. You can improve speed-to-market pace and adopt continuous improvement and continuous deployment strategies. This will not only make innovation happen fast but also increase the rate of adaptation while providing a pathway to improvement. Also, let’s not forget that business transformation consulting firms will keep you at the top of your game among your competitors.

To Sum It Up

I have listed above the reasons such as automating tasks for improved efficiency and effectiveness, enhancing customer experience, increasing flexibility, scalability of your business, and reducing risks; but the most important thing is to keep your business objective in mind!

Below listed questions like –

What do you want to achieve via digital technology that you can’t in the present scenario?
What value addition do you want for your customers to experience that your current technology and processes are not allowing?
How do you plan to collect the data and use it for your target audience?
What manual tasks can be cut off by the introduction of digital tools?
What revenue growth do you expect if you invest in new technologies and tools?

In order to start the evolution process of your company, contact a digital transformation solutions provider now to transform your business journey strategically and as smoothly as possible!

iOS 14 Privacy Features and Their Impact on App Distribution

Posted on 20/08/202009/06/2021 by Anteelo Master

Apple has a habit of introducing revolutionary changes year after year with every new operating system launch. 2020 was no different. In fact, in many ways, it was the most revolutionary year for Apple in terms of advancing user experience and privacy. In case you missed out on the features that the new iOS 14 updates comes with, head on to our article – How to prepare your app for iOS 14.

However, we can presume that by this time you must have gotten acquainted with the key aspects of iOS 14 privacy features. But do you know that the update will carry an impact on the process of how your partnered iPhone app development company handles your app development and distribution?

Let us talk about it in detail in this article today.

The List of Privacy-Centric iOS 14 Updates

The biggest announcement that Apple has made in terms of the iOS update that will be made next year is giving users the option to clock IDFA identifiers at the application level. A move that strengthens the tech giant’s position in the Apple vs Android, which platform is a more secure debate, would require the apps to ask the users for permissions to gather and share users’ data.

There are other privacy-related moves as well, but let us attend to IDFA first.

1. Changes in IDFA and store-level control

What is IDFA?

An identifier for Advertisers is a unique identifier for all mobile devices which is used for targeting and measuring the effectiveness of the advertisements on a user level across all the mobile devices.

What is the update about?

For every app install, users will have to opt into IDFA. When developing apps for iOS 14, app publishers will have to provide a summary of privacy practices on the basis of which users will decide whether they want to opt-in IDFA or not.

The impact of this update lies in ad campaigns becoming incapable of performing control recency, optimizing and measuring ad performance, or perform behavior-based segmentation. Additionally, the move is contributory to consent fatigue, which would increase the instances of users declining the data view request.

The impact of the update on the advertisers will be two-fold –

Retargeting to users will not work in the iOS application development process if the users opt-out of sharing their IDFA. Brands that don’t use deterministic variables like a phone number or email id (like Google and Facebook do) will witness a reduction in the targetable audiences.
Because of the limited access to IDFA, brands will not be able to show relevant ads to the users, a move that might direly impact user experience and ad monetization efforts of iOS app development.

2. Changes in app install attribution

iOS 14 comes with an updated SKAdNetwork interface that offers a method for Apple to notify the ‘ad network’ when a campaign creates app install conversion.

The impact of this update is the negligence of another type of app conversions for which a mobile app campaign would want to optimize other than app installs.

3. Control over geo-location access

Presently, iOS users have control over which apps access their location through the ‘Location Service’ setting. The new update will allow the users to opt-out of precise location sharing. And when that happens, only approximate geolocation data will be shared with the apps.

4. Privacy report highlighting ‘tracking’ companies

Apple presently comes with the feature of Intelligent Tracking prevention or ITP which blocks cross-domain tracking. With iOS 14, there will now be a ‘Privacy Report’ passed to the users in addition to the ITP. It will tell the users which companies it is blockchain from viewing their data.

The impact of this update is more image-based than anything else. Brands have multiple use cases for tracking users – recency control, frequency capping, behavioral-based targeting, spend attribution, etc. But the update will give the users a perception that every company has the same tracking intent.

How is Anteelo Preparing for the Changed iOS 14 App Development Process?

iPhone app development has always been one of our strongest suits. We have always one of the first iOS app development company to run hypothesis testing on all the new updates. iOS 14 version is no different.

Our team of iOS app developers has deep-dived into how iOS 14 impacts app creation and promotion and while we have looked into the changes that we will have to make the app ready for iOS 14.

The primary step for us was to peruse the platform-wise recommendations for the iOS 14 update.

Facebook
Google
Apple

The documentations helped us get on top of the changes that were coming with iOS 14 and what we needed to do to prepare for them. Keeping technicalities aside, let us share our plans in terms of making your app pass Apple’s updated security principles in layman’s terms. But first thing first, let us look into the ways the app ecosystem is going to change in 2021.

The way iOS 14 influence app development will see the following things happening –

The space between organic and paid revenue and installs will get blurry
The efficiency of user acquisition and ad monetization will lower
The user-level ad reporting will become functionally impossible with iOS 14
Another impact of iOS 14 will be that retargeting campaigns will not be viable anymore
Apple’s SKAdNetwork is poised to become the source of ad attribution on iOS
Post-install events will majorly be attributable for around 24 hours

In light of these changes, the first thing that we will be focusing on is ensuring that the SDKs we use across our iPhone app development services are up to date. Virtually every SDK – analytics, attribution, and ad monetization, etc. will have to be updated for accommodating iOS14.

Secondly, we will shift our focus on top-of-funnel activities – like ad watch, tutorial completion, etc. – instead of button funnel-like subscriptions and purchases.

Lastly, we will be revisiting how we ask for consent from the users. After ensuring that the users are having a good experience within the app, we will plan strategically-timed push notifications explaining how the tracking will elevate their experience in the application. Here’s a snapshot of what that would look like –

Other than these, going by the statistics that over 30% of the iOS users have already disabled IDFA sharing, we will be exploring new approaches to help our clients retain their growth marketing expectations without relying on personal information. Here are some of them –

1. Use SKAdNetwork for advertisement attribution

Apple has released SKAd Network that enables Apple to manage the attribution passed to the Registered Ad network. While there are ways to optimize and scale marketing with SKAdNetwork, like how it helps identify redownloads and track attribution, they are not very ideal because of multiple reasons –

Allows only click-based attribution
No date stamp parameter is provided
The campaign IDs are limited to 100 per ad network.

2. Non-individually identifiable IP address-based tracking

Another way brands can negate the iOS 14 impact on app distribution is by relying on the users’ truncated IP addressed for advanced contextual targeting and attribution. This way, they won’t have to identify any individual user.

If you are looking for an iOS application development company that is skilled to help migrate your existing application to iOS 14 while having a complete understanding and solutions to how iOS 14 impacts app creation, reach out to our team.

Role of Technology In Changing the Future of Consumer Lending

Posted on 18/08/202009/06/2021 by Anteelo Master

Dive into the many changes that now stare at the lending-centric consumer financial services landscape and how technologies are fueling the shift. Every once a decade, technology innovation and customer demand merge in a way that drastically changes the consumer-facing financial service sector.

For instance, when The Motley Fool, eTrade, and Intuit came into the market some decades ago, consumers took it upon themselves to personally manage their finances and invest their savings in places that would get them maximum returns.

In 2021, the financial service industry is again staring at disruption. A number of technological and economic factors have developed a perfect situation where people are deciding how they want to manage their pay, pay for services and goods, finance a car or home, or even how they want to borrow.

To answer these changes and shape the future of lending, a number of tech-driven consumer-facing financial services companies have entered the market to address this consumer behavior shift. The entrants have become the reason why lending has become one of the most profitable finance app ideas.

In this article, we will be diving into the many changes that now stare at the lending centric consumer financial services landscape and how technologies are fueling the shift.

What is Contributing to the Evolving Landscape of Digital Lending?

The changing space of digital lending transformation is bringing a remarkable shift in credit analysis and bank loans. The rise of technology progress and big data has led to a series of alternatives coming into the market questioning the credibility of credit score – a prime factor driving the lending industry.

When we dive into the changes that are taking place in one of the slowest transforming financial services, we can find four factors fueling the digitalization of the consumer financial services space –

Changing consumer behaviors – especially the COVID-19 driven behavior
Rapid technological changes
Changes in compliance and regulations
Innovations happening in the space of simplification of operating models.

The combination of these four factors has given birth to a time where consumer insights are blended with product innovations to make fintech consumer lending a lot more inclusive. In addition to serving only the high credit-worthy consumers, the future of the credit industry is now powered to involve consumer segments with low credit history (low-income households, students, freelancers, etc.).

The digital lending landscape has grown to an extent that it can now be categorized into three sectors –

The ultimate aim of the technology-induced digitalization innovations happening in the sector – across the three subsets – is to digitize the entire customer journey (from KYC to reporting) at speed and at scale at a level where the traditional lending system could never reach.

How is Digital Lending Changing With Technological Advancements?

1. A new way of vetting applicants have come on the surface

New credit mechanisms are building on the proposition that traditional ways of applicants’ approval on the basis of FICO credit score is an incomplete sign of applicants’ creditworthiness.

By using artificial intelligence, new models are being developed. These models factor in information surrounding thousands of data points like employment history, education details, and spending habits to verify if an applicant will be able to clear the debts on time. On the basis of these insights, a new credit score is coming to the surface as the future of consumer lending.

2. AI-backed strategy and sales streamlining

Digital lenders have started asking their partnered fintech app development companies to use machine learning for enhancing loans by making underwriting decisions. The algorithms can help validate if the applicants are telling the truth about their income level.

The process is best suited for people having an insufficient credit history, less income, or anyone who is charged higher interest because of the lack of financial data. Machine learning is also being used heavily for its ability to detect fraud through analysis of customer behavior backed by the time they spend answering applications’ questions, looking at the price options, etc.

3. Blockchain eliminating the need for intermediaries

Through the mode of blockchain, digital lending companies can develop a high trust, low-cost platform. With the complete loan process existing online, people will be able to keep a record of documents and transactions on an anonymous digital ledger platform thus eliminating the need for third parties and intermediaries.

4. Cloud computing solving digital lending sector uptime concerns

The most common corners of the lending sector are – security, storage, and 24*7 upkeep time. Cloud computing solves all these issues in addition to offering a series of additional benefits like

Secure connections
Cost-effective and time-efficient management
Disaster recovery
Simplified online processes
Automation of processes

While these technologies are playing a key role in bettering the state of digital lending, what is important for the sector to keep evolving. A way the sector can keep getting efficient is by knowing the trends that are waiting for them in 2021 as the future of consumer credit.

Digital Lending Market Trends 2021-22

1. NLP will better customer experience

Smart lending systems will be using NLP for recognizing and understanding customers’ questions and converting them into actionable data. There are multiple applications that the digital lending companies will be experimenting with in 2021 –

Lenders will be able to offer advice to basic queries through a chatbot
They will use the technology for analyzing customers’ feedback, getting insights that can help them improve the customer experience.
Analyze the data to better the credit scoring accuracy

2. Regulatory sandboxing

While the consumer lending sector needs constant innovation in order to develop and grow, it also needs regulation for ensuring security, safety, and ethics. Sandboxing is how both factors can be respected in the modern lending system.

It is the mode f testing innovative services in a controlled setting for the regulators to conduct their assessments before a complete rollout. The Compliance Assistance Sandbox (CAS) Policy, announced in 2019 highlights the process.

“After the [Consumer and Financial Protection Bureau or CFPB] evaluates the product or service for compliance with relevant law, an approved applicant that complies in good faith with the terms of the approval will have a ‘safe harbor’ from liability for specified conduct during the testing period. Approvals under the CAS Policy will provide protection from liability under the Truth in Lending Act, the Electronic Fund Transfer Act, and the Equal Credit Opportunity Act.”

3. Greater omnichannel capabilities

Technology will be seamlessly connecting the lender with borrowers through a self-service holistic digital experience. The year will see borrowers picking up on the half application form which they started on their phone, on their laptops.

Omnichannel capabilities that make it easy for them to jump from one platform to another without any shift in experience is what would help the digital lenders rule the year while becoming one of the key mobile app development financial services.

4. Non-banking institutions will continue entering the space

We have already seen Amazon offering loans to small businesses and Apple announcing its credit card. All of these innovations are the advanced stages of companies’ capabilities and how they help their customers reach their goals.

The year will see the consumer finance market getting introduced with a greater number of P2P consumer lending organizations. Backed by the abilities of new-gen technologies like Blockchain and AI, consumer financing companies will be giving banking institutions tough competition.

Now that we have looked into the many ways consumer lending businesses are getting prepared to rule the sector through their partnership with a skilled fintech application development company, let us close the article by looking into some ways you can become the next big digital lender.

How Can You Become a Digital Lender?

There are a number of brands that have placed themselves in the future of the consumer financial at the back of their digital inclination.

Shifting from a traditional lending mindset to a digital bank-oriented one is not an easy task. There will be resistance to change, an unacceptance towards risk, and other things. A digital bank transformation will require a strategic foundation supported across all organization levels. As a lender, you will have to focus on offering an exceptional digital experience to your consumers. The last thing you would want is getting axed by Google on the Play Store at the back of a bad experience and lack of regulations-compliance assurance. Here are some things that we recommend on the basis of our extensive skill set as a financial software development company –

Provide transparent information on the approval guidelines
Develop new training material, gen-z inclined communication about new policies
Provide alternate channels to your consumers. Don’t force them to visit branches.

The secret sauce of your lending business success will be transparency and communication. The more open your business is, the more will be the chances of your consumers to choose alternative lending models. We can help you strategize your lending process digitalization.

Android App Bundles Should Be Chosen By Businesses- Why?

Posted on 18/08/202009/06/2021 by Anteelo Master

Did you know that the Android App Bundle has become the gold standard for publishing on Google Play? Dig into its benefits.

When I first heard about this new upload format known as the App Bundle, I was very excited! Many of the issues that we developers faced like building APKs to target different API versions, device types, and so on- are now passed on Google Play.

From this day on, developers will be able to use Dynamic Delivery for creating optimized APKs that satisfy the requirements of user’s devices and delivers them at the runtime for installation.

All this is being done through the Android app bundle app distribution format. Let us dive into what Android’s new, official publishing format is all about.

What is Android App Bundle?

Android launched a new official publishing format called android app bundles (.aab) and it offers a more efficient way to build and release your app. It also lets you easily deliver a great user experience in a small-sized app, this in turn also improves install success rate and reduces uninstallation rates.

Android App Bundles are Google recommended way for building, publishing, and distributing the application across different device configurations.

Did you know that the android app bundle has become the gold standard for publishing on Google Play? Over 600,000 apps and games currently use the app bundle in production, representing over 40% of all releases on Google Play including Netflix.

Let’s look into the benefits of app bundles now.

Benefits Of Using Google Android App Bundle

1. Size Reduction

App bundles help in reducing a significant amount of application size! On average, developers have witnessed a 20% size savings compared to APK. You can visit the new app size report in the google play console to see how much your app could save.

Did you know that, with the help of app bundle development, Adobe reduced the size of Adobe Acrobat Reader by 20%? Not only this, but some of these size savings by early adopters of app bundles show some jaw-dropping results. These results are what make Android app bundles a great way to build Android Go apps:

2. Increased app installations and decreased uninstallations

Apps increasing size would not matter much if we had unlimited storage in our devices. But, as we know, it’s not the case. As the size of an app increases the number of installations decrease!

As a ripple effect of size savings with the help of xamarin android app bundle will increase the app installations. This also resulted in the increase of update rates, and very fewer uninstallations.

3. Higher efficiency

App bundle development in android allows you to build one artifact that includes all of your app’s collected code, resources, and native libraries. So, you are no longer required to build, sign, upload, and manage version codes for multiple APKs. Hence, the efficiency is increased if you install an android app bundle on your device.

4. Faster downloads

Your app can be efficiently tailored to each device by Google Play which means the process of downloading and installing the app becomes faster.

5. Integrated codes

With the help of the android studio app bundle, you can prepare for the 64-bit requirement without increasing the size of your app. As a result, Play will deliver the appropriate native code required for each device.

6. Increased engineering velocity

The entire process of creating an app is accelerated. From building dynamic and independent modules to designing, testing, and releasing it. The engineering velocity gets a major boost with the android app bundle unity.

For example, The Book My Show app declared that their app builds time (for a completely new build, without any caching) went down by 70% — this is because, with app bundles, it just dumps every resource into the bundle, rather than segregating them, like for APKs.

7. Reduced manual effort

During android app development several manual efforts can be completely automated. Once the development is done, its link is uploaded and shared on a specific Slack channel automatically. No manual intervention is required.

8. Dynamic delivery enabled

App bundles have introduced us to a new concept known as dynamic delivery. One can deliver conditional features at the time of installation on the basis of properties like device features (e.g., AR/VR), user’s country, or device’s version. Users are also given the facility to install features on an on-demand mode instead of the install time. They can even uninstall the features they no longer need.

This will help the users personalize their experience as per their requirements. This will also come in handy when you do not want to increase the size of your app in the long term. Further allowing us to make the initial size of our application smaller and then offering extra features only to the users who might actually make use of them.

How To Build and Deploy Android App Bundles?

Unlike APKs, app bundles are a publishing format that entails all of your app’s codes. So, it cannot be deployed directly to a device. With the help of the android studio, creating a project as a signed app bundle is just a few clicks away!

To build app bundles, follow these steps:

Step-1: Start with downloading Android Studio 3.2 or higher. It is the simplest way to build app bundles.

Step-2: Add support for Play Feature Delivery by including a base module, organizing code and resources for configuration APKs, and, optionally, adding feature modules.

Step-3: Now, start building an Android App Bundle using Android Studio. You can even deploy the application onto a connected device from the app bundle through modification of your debug/run configuration and selection of the ‘deploy APK from app bundle’ option.

Step-4: Testing and publishing your app bundle will be the final step.

Test Your App Bundle

Once you create the android app bundle, you should test how Google Play will use it to generate APKs and how those APKs will behave when deployed to a device. You can use the following methods to test the same:

Test your app bundle locally by using the bundle tool. It will generate APKs from your app bundle and deploy them to a connected device.
Share your app with a URL. It is the speediest way of uploading your app bundle and sharing your app as a Google Play Store link with your testers.
Set up an open, closed, or internal test. This is another way of testing custom delivery options, like downloading app features on demand.

Final Words

The future has a lot in store for all of us and it is up to us to keep up with it! Without any doubt, I can tell you that the android app bundles are where the future lies. Being an android app development company, we can help you stay ahead in the game.

Locks on Web Redesign: 5 Keys to Unlock

Posted on 07/08/202014/05/2021 by Anteelo Master

Locks on Website Redesigning: 5 Keys to Unlock

A website is the destination of your online business, and you should make sure your website is well-designed and compliant with the existing SEO guidelines. Year after year, new technologies, software, and ranking algorithms are introduced, which force website owners to make the necessary design changes.

Website Redesigning

If you are a website owner who is contemplating a website redesign, this article discusses five vital factors that you should consider for redesigning a website.

A Responsive Website Redesigning

A clunky, laggy, and unresponsive design can turn off the visitors in the blink of an eye. On the other hand, a beautiful looking website that responds to the touches and actions immediately hook in the visitors. Moreover, Google has made it clear that a responsive design that increases session time would be one of the significant ranking factors.

Good website redesigning includes a clutter-free interface with plenty of white spaces and small but visible navigation buttons. A website with symmetric and well-organized pages catch the eye of all users and make an excellent first impression. A responsive design Also includes different landing pages optimized according to various devices that can give your website a significant boost in traffic, average session time, and rankings.

Summarizing, your website needs to satisfy these parameters for attaining an excellent, responsive design that impresses your visitors and improves your Google rankings.

Beautiful design
A lot of white spaces with small navigation icons
Diverse landing pages

Mobile Optimization

Apart from responsive design, a website should be compatible with all small screen and large screen devices. Around 50 percent of the total internet traffic is mobile traffic, and Google, in one of its recent algorithm updates, has mentioned that mobile compatibility is going to be one of the significant ranking factors for websites.

Therefore, your website should be well-optimized for mobile, tablet, and other small-screen devices. A website can be optimized for mobile devices by several methods like:

Updating robot.txt file
Updating the CSS code
Using mobile-optimization plugins
Creating a mobile version for your website

Speed and Performance

Suppose you typed a search query on Google and clicked on one of the displayed search results. You’ve been waiting for ten seconds, but the page does not load. What will you do? Unless you are not a regular visitor to that website, you leave it in a flash. This behavior is standard and applied to all the users; therefore, a website must load fast.

The design of the website plays a vital role in determining its speed and performance. If a website has a dense, clumsy design with a lot of content, pictures, and videos on every page, it takes more time to load. On the other hand, if a website has a sleek and responsive design with minimal content and compressed images, it loads faster.

Luckily, you can access a lot of free tools like GTmetrix and PageSpeed Insights that allow you to determine a website’s load speed and tips to improve it.

Some tips to improve your website’s load speed and performance are:

Design plays a vital role in determining your website’s load speed. Your website design should be minimal, with only necessary items and pieces of information on the page.
The presence of excessive multi-media elements like high-quality images and videos can significantly reduce the load speed of a website. Try reducing videos and pictures on your website, and compress the photos if they are relevant and provide the necessary information.
If your website does not have appropriate storage, bandwidth limit, or a right hosting provider, it affects its loading speed. Make sure to check these factors if your website takes time to load.
Check your website’s speed and performance regularly and act upon the recommended fixes and suggestions.

Accounts and Social Media Integration

Social media integration enables you to multiply the number of visitors visiting your website without putting in any extra effort. Adding share buttons on your website allows your visitors to instantly share your content with their friends and family, which improves your reach, traffic, and rankings.

Adding your social media handles on the website can help you connect better with your audience and allows you to share content on different platforms and in various forms. Providing an option to register and login on your website enables you to provide your users with personalized user experience, which is essential for building trust and improving brand reputation. You can further simplify the login process by providing the feature of logging in directly from social media accounts.

Social media and account integration can help you in the following ways.

It allows your visitors to share your content over different platforms.
It enables you to connect your visitors with your social media handles.
It enables you to provide your users with personalized user experience.

Analytics

Analytics tools allow you to analyze the performance of your website and make necessary improvements. Different websites have different visitors of varying age, gender, country, device, and more. Analytics tools like Google Analytics and Monster Insights allow you to access all the information about your visitors, enabling you to understand their behavior and requirements.

Analytics tools also allow you to track conversions, funnel performance, session time, bounce back rate, back off rate, and other necessary information that can be vital for improving your website’s performance.

Some advantages of using analytics tools are:

It provides in-depth information (demographics) about the visitors.
It identifies the underperforming areas of your website, helping you take targeted actions.
It enables you to analyze your conversions, backoffs, bounce back rate, and average session time.
It helps you optimize your campaigns and strategies according to the visitors.

Conclusion

Website design is a significant ranking factor for websites as a responsive website design that provides visitors with a better experience. Although a good website design includes other elements like logo design & positioning and widget optimization as well, the aspects discussed above play a key role in determining the overall design and performance of your website.

Cost of a Mobile Banking App Development- Determine

Posted on 01/08/202009/06/2021 by Anteelo Master

A massive percentage of the finance sector is willingly switching to mobile banking. But how much does mobile banking app development cost?

Irrespective of how slow we call the adoption of technology in the finance sector, there is one transformational event that can not be ignored – a massive percentage of people willingly switching from desktop and branch-visiting banking to mobile banking.

Mobile banking apps have today become one of the primary ways in which people log on to their bank accounts and perform transactions. The attraction towards mobile banking is so high and prominent that banks, across size and geographical locations, are not just expanding into the online banking app development offering but are also looking for ways to make them new-gen technology-rich.

In this article, we are going to deep dive into the different facets of banking application development and the feature-sets that come together to define how much does it costs to create a mobile banking app.

A Peek Into the Mobile Banking App Market

The ease that banking apps come with – real-time access of account information, ease in transactions, card-less ATM withdrawals, etc – has led to the fact that every bank now comes with their own banking applications.

But does it mean that the time for entrepreneurs to join the bandwagon has passed? No!

There are a number of statistics that validate the need for a mobile banking application. Here are some prominent ones –

In a decade’s time, mobile banking apps have taken over the combined user count of internet banking, branch-visit banking, and telephone banking. We can only imagine how big the market will be in the years to come.

The Top Players That Every Mobile Banking App Development Company Looks Up To

These are some of the top banking apps that the mobile banking application development companies look up to as benchmarks and the users compare other apps with.

The experience that these brands offer has played a massive role in increasing the adoption of mobile banking apps in the industry by showing the users that the process can be extremely seamless and automated.

Another factor that helps these applications become revolutionary is the feature-set that they come with.

Let us look into some of those features.

Must-Have Features of Banking App

There are a number of features that come together to define a well-strategized mobile banking app creation process. In order to get an idea of which is the best one, it can be helpful to look into the reasons why people use banking applications in the first place.

While the image gives a good idea of the kind of features that must be considered when you are looking for answers on how to develop an online banking application, let us reinstate the primary features.

1. App access

Like a majority of applications, a banking application also starts with authorization and registration. The sign-in option in the banking application should be simple but also highly secure. There are two options that brands generally follow when building a banking app – PIN entry and Fingerprint. A multi-factor authentication system can help secure the application to a great extent.

2. Account information

You should enable the users to access their bank account information – account number, balance, card number, name, etc. There are a number of success stories that highlight the need of showcasing the feature of checking balance and other information in the first screen that opens when the user logs in. However, even if it goes differently than your plan, at least make the sections easily accessible for the users.

3. Payment and transfer

The next must-have feature of a banking application would be the ability to make real-time payments and transfers. There should be a specific section for the transfer activities containing the ability to add beneficiaries, view account balance pre and post-transfer, etc.

At the payment stage as well, you should ask the users to put in their password/PIN or fingerprint to allow money transfer.

4. Transactions history

Another primary feature of a banking application is real-time transaction history. On a usual note, you should give your users the feasibility of viewing their transaction history for the period that they want, i.e custom date setting.

5. Push Notifications

A well-thought-of push notification strategy can not just help you retain your customers but also increase the engagement levels in your application.

Generally, push notifications are divided into three parts:

Transaction-based – notify users of everything related to their bank accounts
Promotion-based – inform the users about offers, discounts, and deals
Application-based – document submission or password change request

6. Bank and ATM locations

It is one of the most convenient features present in a banking application. You should integrate Apple or Google Maps in the application to help guide the users to the nearby bank locations and ATMs.

7. In-app chat

There are a number of ways chatbots make banking better. The number one is making banking accessible to the users on a 24*7 mode. A securely devised chatbot can help keep updated with their account details, check if x amount was credited from their accounts, etc.

While these are the must-have features that define how to build a banking mobile app, there are a number of advanced features that can elevate the returns on mobile banking development services investment. They can be – regular payments, QR scan, integration of third-party services like investment portals, hotel or travel booking options within the app, etc.

Now that we have looked at the must-have feature sets of banking applications, let us get to the point where we look into the cost of banking application development.

How Much Does it Cost to Develop a Banking App?

The banking app development cost is dependent on a number of factors. Here are the top ones –

1. Features

Mobile banking app feature-set is the first thing that contributes to the development cost estimate. The more advanced the features, the greater would be the development cost. For example, the more you move away from a standard mobile banking app and gravitate towards the integration of Blockchain for IoT in the application, the higher would be the overall cost range.

2. App design

There are a number of information present inside a banking mobile application – account information, money transfer details, customer service information, an active chatbot, etc. It is very easy to create a design which tries to add all the information in place. But what is needed and appreciated is minimalistic design – something that carries its own place in the mobile app design cost list.

3. Technology Integration

The other key factor that has a direct impact on the banking app development cost is technology integration. While we do suggest adding new-gen technologies like AI or Blockchain to future-proof your banking applications, it can increase the development cost to a great extent.

4. Location of the agency

The last element is the location of the agency. As you move from East to West, the cost of app development increases. The average hourly rate of mobile banking app developers in the US is usually in the $100 to $120 range, while in India it can be anywhere between $60 to $80.

All the elements come together to define the cost of banking application development. If you are looking for a numeric value, share your idea with our banking software experts. They’ll help you validate your app idea while giving you a costing estimate.

While you are working on your banking application idea, keep the banking trends into consideration which would help make your app 2021 ready.

Mobile Banking Development Trends That Will Rule 2021-22

ATM connectivity

Innovations in QR code scans and near-field communication technology will help customers manage their ATM transactions without fumbling to find their debit cards, while saving them from entering passwords in a public setup.

Voice commands

Voice technology will find itself getting adopted by the banking sector by a greater extent. Users will now be able to check their bank balance or transfer money to people in their contacts simply by initiating a voice request.

Greater integration of AI

This year will see a number of innovative use cases of AI in the payment & banking sector. Right from fraud detection to establishing a 24*7 connectivity between users and banks, AI and Machine Learning will be integrated by the banking institutions to a great extent.

Improved app security

Although the banking sector is still one of the most secure sectors, 2021 will see it become unhackable. Here are a few elements that we will be adding in the banking applications to make them breach-proof:

Multi-factor authentication system
End-to-end encryption
Fingerprint authentication
Real-time alerts
Incorporation of AI to identify fraud instances, etc.

At this point, you have all the information needed to initiate a mobile banking application and the factors that will help you get an estimate on the project. The next step? Find a team of developers who can help you with the project. We are one of them.

Future of Applications Development- Is it Low-Code/No-Code?

Posted on 29/07/202009/06/2021 by Anteelo Master

We are operating in a digital era where every company is a software company. With the growing advent of digital technologies, it has become impossible for a business to chart their success in the absence of applications supporting their internal and external functions.

This growing dependence on applications – enterprise and customer-focused – although a stepping stone for innovation and creativity, comes loaded with several challenges. Challenges that low code no code development methodology aims to address.

Bandwidth issues – The in-house IT team, across businesses, generally works on the everyday crucial business tasks. Because of this, they are generally left with minimal time for working on enterprise or customer-side applications.
Limited budget – Purchasing semi-custom apps or hiring a mobile app development company can be an expensive affair.
Demand for quick deployment – Even at a time when the adoption of DevOps is on a high-speed mode, the time it takes to develop an application is still high at large. The complexity-driven slow development speed almost every time results in delayed deployment time.

Although these issues can be solved by hiring a team of remote developers, businesses have started taking an alternate route – low code development. But does this mean the trending application development approach is the future of the sector? Let’s find out.

What is low code no code development?

Low code no code platforms enable businesses to develop apps with the help of a visual development approach in place of the alternate development route that requires writing thousands of code lines. Here are some of the top reasons why businesses choose to take the route instead of investing in full-fledged custom application development:

Although low code app development and no-code software development work best when placed together, there are several inherent differences between them, making it impossible for them to be used interchangeably.

No-code platforms are ones that enable teams with zero software development and coding expertise to assemble applications with the help of functional, reusable building blocks.

Low code platforms are the ones that demand a level of coding but make it extremely easy for the developers to develop new apps in the least turnaround time.

Both no code and low code platforms offer IT with complete governance over data, systems, and functionality. When working together, they enable rapid application development which in turn helps businesses reach their goals with the resources they have however limited. Here are some statistics highlighting the opportunities for Low Code Application Development (LCAD) and No-Code Application Development (NCAD) as the code for the future.

Gartner estimates that low-code app platforms would account for over 65% of development by 2024.
Forrester forecasts that the low-code market would top $21 billion spendings by 2022.
According to TechCrunch, the companies operating in the sector are paced to raise around $500 million by 2020.

Numerous benefits together have led to a rise in the LCAD and NCAD form of rapid application development. Let us look into them after looking into some of the most trusted low code no code app development platforms.

The best low code no code applications development platforms

When we enlist the best platforms for rapid application development, some names come on top – Microsoft PowerApps, Appian, OutSystems, Airtable, Amazon Honeycode, Salesforce.com Lightning Platform, Zapier, and Google AppSheet, etc.

The industry, however, is constantly expanding. Meaning the brands which are on top today might not make it to the list in the next quarter. What remains constant though are the benefits that businesses can draw from using low code no code app development.

Benefits of low code no code applications development

High development speed – the biggest pro of low code no-code app development is that the development time gets cut off from months to days. You can not just take your app to the market faster but also quickly work on the user feedback and add newer features, functionalities.
Lowered cost – at the back of low development time and high speed, fewer resource requirements the cost of developing a low code no code application is extremely low.
Lesser bugs – the lowered amount of code leads to lesser bugs occurrences as well. And with lesser bugs in the picture, the development time gets further reduced by manifold.
Better business stakeholder engagement – the inclusion of in-house developers in the low code no code application development process helps the stakeholders be involved in the deployment procedures.
Multiple deployments – low code development platforms enable businesses to build apps for multiple platforms at the same time. Usually, the deployment of an app on one platform is a complex task in itself. A task that becomes easier with low code no code mobile app development.

Amongst the many benefits of low code no code mobile application development lies the fact that it is fit for only certain app types – ones that generally lie in the ballpark of prototypes. The more you deep dive into the approach the more difficult it becomes to distinguish it from the white-label development methodology. The methodology is good on papers but has several ground-level issues attached to it.

Low code no-code application development shortcomings that keeps it from getting the title of software development future

Integration restrictions – Low code applications are more likely to give you integration issues when you connect them with legacy systems.

Absence of customization – Like every DIY software development platform kit, the platforms come with their fair share of customization limitations. At a time when the market favors those that have a competitive advantage, you will be forced to work on the platform boundaries and give up on certain planned functionalities.

Security risks – Multiple risks arise when you work on third-party platforms, especially the ones that make your application uncontrollable. Since you only get access to work on the frontend or the user interface, you have little to zero control over the backend data and process.

Coding is not everything – There is more to the application development process than coding. A custom app development agency works on user journey maps, design sprints, application testing, etc. While low code no code application development platforms can give you an application, there is no guarantee that there won’t be more apps similar to yours in the stores.

Does the code future lie in no code low code? Anteelo verdict

If you intend to develop basic applications that need little to zero customizations and come with low-security vulnerability, we recommend taking the LCAD and NCAD approach. But if your business goal is to enter the mobile app market with a high-quality successful product, customized application development would work best for you.

Irrespective of what your choice is, the future of application development, as opposed to general belief, doesn’t lie in low code no code development approach. The key to attaining a competitive advantage will require businesses to present a customized stand in the industry while ensuring that they have complete control over the backend and users data.

5G and IoT: The 2 New Technologies with a Plethora of Applications.

Posted on 28/07/202009/06/2021 by Anteelo Master

The 5G IoT reaches new dimensions in all aspects where 5G connects more IoT devices at higher speeds and makes things slow things non-existent.

Dive deep into your imagination and seek a world where smart homes can unlock doors just by scanning your face, automatically adjust lighting and temperature, a world where chronic diseases are managed 24-7 and where accidents are a thing of the past. You can imagine that the fifth generation of wireless technology promises more than just a fast network.

It will not only help you redefine the network but also establish a new global wireless standard for speed. A 5G network builds a bridge to the future. This technology is not just a new generation of wireless technology, it is a 5G foundation to release the full potential of IoT thus revolutionizing technological growth. We are well aware about IoT and its working.

IoT is described as an ecosystem of interrelated computer devices, digital machines, and objects that have the ability to communicate and transfer data to each other in real-time, with minimum human intervention.

Major components of IoT include – devices, connectivity, data processing and user interface. Since IoT is already in the blooming stage, with the help of 5G (fifth generation), it has the potential to reach a whole new level. 5G and IoT technology together have a wide spectrum that increases the overall bandwidth and allows a massive amount of IoT devices to connect.

IoT and 5G have given rise to the mobile ecosystem by introducing a powerful combination of extraordinary speed, expanded bandwidth, low latency, and increased power efficiency that will be connecting billions of networks in the coming five years and is changing our world. Let’s look into some numbers to show you what 5G enabled IoT is capable of.

Ericsson’s latest Mobility Report says that the number of 5G smartphone subscriptions worldwide will rise to 600 million by the end of this year, almost tripling from the 2020 total. By 2022, 5G subscriptions will cross the one-billion mark.
Internet of Things (IoT) will connect more than 50 billion devices by 2030.
5G will be 10 times faster than current LTE networks. This increase in speed will allow IoT devices to communicate and share data faster than ever.
In 2030, the forecasted total number of 5G internet of things (IoT) units sold, business to business, is 44.8 million. Of these, almost half are expected to come from industry 4.0 applications, also known as smart factories. The second largest share of forecasted sales in 5G IoT units, is use cases in smart cities, with 8.4 million units.
Connected cars is projected to become the largest segment of the global 5G Internet of Things (IoT) endpoint market, with an installed base market share of 39 percent by 2023, the equivalent to 19 million endpoints. The overall 5G IoT endpoint installed base is forecast to grow from 3.5 million in 2020 to around 49 million in 2023 worldwide.
Due to the increase in 5G users, the industry anticipated to benefit the most economically is information and communications with an estimated $251 billion contribution to the U.S. GDP between 2021 and 2025. Real estate and business services industries are expected to contribute $190 billion and $187 billion, respectively, in the next five years.

Now that we are aware about what IoT in 5G technologies can pull off. Let us look into the advantages IoT and 5G bring to the table in detail.

What Are The Advantages Of 5G And IoT Tech?

1. Greater speed in transmissions

Speed in transmissions can reach 15 to 20 Gbps. With the help of the new found speed we can access data, files, programs etc on remote applications. By intensifying the usage of the cloud and making all devices (mobile phones, computers, etc.) depend less on the internal memory of the device, it won’t be necessary to install numerous processors on a device because computing can be done on the Cloud.

2. Increased number of devices connected

5G impact on IoT is clearly the increased number of devices that can be connected to the network. All connected devices are able to communicate with each other in real-time and exchange information.

You can imagine that when we talk about a smart home, hundreds of devices will be connected. If you think of an industrial plant, we are talking about thousands of connected devices. Such a great number of connected devices will allow concepts like building a smart city possible.

3. Lower latency

In simple words, latency is the time that passes between the order given to your smart device till the action occurs. Thanks to 5G this time will be ten times less than what it was in 4G.

For example: Due to lower latency the use of sensors can be increased in industrial plants. Be it control of machinery, control over logistics or remote transport all is now possible. Thanks to lower latency, which has led healthcare professionals to intervene in surgical operations from remote areas with the help of precision instrumentation that can be managed remotely.

4. Network slicing

5G implements virtual networks and creates subnets such that the network connection is adjusted as per the specific requirements. By creating subnetworks, some specific characteristics are given to a part of the network. The programmable network will prioritize connections, in case of emergencies by allocating different latencies in the connection.

You are now familiar with the advancements and advantages that applications of IoT in 5G can offer. So, let’s discuss how this wave of new technology is coming up with an endless number of use cases.

5G IoT Technology Use Cases

1. Smart traffic mobility

A world where accidents are minimal, would be a great world to live in. 5G IoT applications can enable the sharing of real-time information about traffic and road conditions among cars and other road users. Such smart mobility and driver assistance services require 5G communication devices in vehicles, with pedestrians, etc and roadside sensors infrastructure.

By collecting and analysing real-time traffic data from the roadside infrastructure and the vehicles on the road, such Intelligent Transportation Systems would be able to timely warn drivers about hazardous road conditions, traffic blocks and safety compromising situations. As a result road safety and traffic efficiency will increase.

2. Smart grid automation

Demand for electricity is increasing as we speak. Virtual power plants and smart grids are the technological solutions for the same. 5G allows us to inculcate real-time management and automate the smart electricity grid. The maintenance can be optimized once we start detecting faults and providing solutions rapidly.

5G is being largely adopted because of the increased deployment rate and lower cost in comparison to wired alternatives. As a result, utility operators are progressively updating their grids with new sensors, control systems and integrating renewable energy resources.

3. Video surveillance

Another 5G based IoT application that is assumed to thrive is video surveillance. Due to the recent turn of events around the globe, the government is ready to invest in public surveillance and security systems. As of now, video surveillance systems rely on wired connectivity, but the adoption of wireless networks can result in fast set-ups and lower costs, boosting connectivity and performance as compared to the wired ones.

5G and IoT security solutions allow us to prevent the loss of critical assets.

According to marketsandmarkets, 5G IoT video surveillance cameras is expected to grow from USD 2.6 billion in 2021 to USD 40.2 billion by 2026, at a CAGR of 73.0% during the forecast period.
With the help of 5G we can securely and consistently monitor facility conditions from any location
Quick action can be taken on important security alerts that are notified on mobile devices

4. Smart city

The European Commission defines a smart city as “a place where traditional networks and services are made more efficient with the use of digital and telecommunication technologies for the benefit of its inhabitants and business”.

Smart cities use the5G and IoT devices to collect real-time data to understand demand patterns and respond with faster and lower-cost solutions. You can also call it a digital city whose ecosystem is designed to run by connecting several dedicated networks of mobile devices, sensors, connected cars, home appliances, communication gateways and data centers.

We already know that more than 50 billion devices will be connected to IoT by 2030. 5G is expected to unlock the potential of IoT and be a driving force for the smart city by addressing and overcoming all connectivity issues.

Final Say

Each year technology is innovating itself with new discoveries and ideas. IoT – the concept which did not even exist a decade ago has today not just gotten mainstream but has also marked a presence, across industries, across the globe. Looking at the above emerging technology of 5G and IoT and it’s numerous use cases now is the time to dive deep into mobile IoT app solutions and contact an IoT application development company.

For that you need to find a trustworthy and reliable IoT app development company in USA or other countries where you belong to partner with. A company that would help you expand your decentralized journey. Here comes Anteelo to help you out by providing top-notch solutions for your business needs. For any queries you can contact us through the link provided.

Accelerating Fintech Change Through Digital Transformation

Posted on 27/07/202009/06/2021 by Anteelo Master

Fintechs are taking advantage of digital transformation by bringing a start-up mentality to corporates to drive growth in businesses.

Coronavirus was a random economic test that no one could have fully anticipated and as social distancing, lockdowns across the globe and work from home rules became common around the world; companies that had seen the writings on the wall became accustomed to the digital age and were the first winners. In this article, we will be discussing in detail how digital transformation in financial services is accelerating the change in Fintech.

Startups and small and medium enterprises (SMEs) have had to reorganize their digital transformation strategies and look to the lending regulatory agencies for quick funding to restart and adapt to the digital ecosystem.

Fintech is not just limited to startups; it also forces large, well-funded enterprises to continue to compete and innovate if they want to stay afloat. Fintechs creates new ways for customers to access and deliver financial services, with simple ways to make payments on investments with quarterly advice and create a personalized budget with the help of the app. To bring difference using digital transformation, a plan with a strategic approach is required.

Professor Anne-Laure Mention, Director of the Global Business Innovation Enabling Capability Platform at RMIT University, Melbourne, Australia, in her 2019 paper- “The Future of Fintech” highlights the ways Fintechs are disrupting the industry with their faster, cheaper, and attractive service models that are inviting interest from the regulators.

Rapid Growth in Fintech Brought By Digital Transformation

While we know that the financial services industry has a traditional perspective and takes time to adapt to innovation, the pandemic has created a different picture. It has accelerated tangible change by adopting rapid physical and digital transformation, which requires the fintech industry to meet the challenge of equipping businesses with powerful computing systems.

Changes can also be attributed mainly to the rapid change in consumer behaviour and new emerging patterns set by the clear will of cash-less and contact-less activities.

Some stats below describe the rapid adoption of digital transformation.

According to a survey by ZDNet, 70% of companies either have a digital transformation strategy in place or are working on one.
Another report by PTC and CorporateLeaders states that 60% of companies which have undergone a digital transformation have created new business models.
The IDG’s Digital business research includes the top industries for digital-first business strategies with services (95%), financial services (93%) and healthcare (92%) being at the top.

How is Fintech Digital Transformation Making SMEs Efficient?

Greater lending flexibility

In the current system, traditional lending models make themselves ineffective because they are not designed to measure and therefore, seem to impose a barrier on SMEs to earn money. Legacy systems are more expensive compared to fintech companies, which boast a reduced performance model designed to reduce costs. There is also a lack of flexibility in this system.

This is where a cloud-based lending approach can make a difference. Creating an application programming interface (API) that will integrate seamlessly with asset systems and provide an awesome and sustainable digital model that can drive a well-designed lending solution.

Channelling digital fintech offerings

With the increasing pace of digital platform acquisition during the pandemic, digital payment platforms and digital wallets and credit cards have seen a rise in demand in SMEs’ transactions. Additionally, SMEs and startups from across the globe have started taking advantage of the digital profits and loans available through simple, fast and secure fintech solutions backed by robust infrastructure processes. By informing high-end consumers and warm-hearted SMEs they have come up with the idea of using fintech solutions to drive their financial operations.

Processing data for operational efficiency

With innovative digital lending platforms, such as knowing your customer (KYC) and personal identity or KYC based on social security, financial consultants can easily access customer data and get their approval, thus ensuring better efficiency. Data Analytics can be used to improve the understanding of customer portfolios to enable better credit processing. Another useful area where data can be used to detect fraudulent detection, where customer behaviour is recorded and used to analyze potential fraud.

Digital Transformation Trends in Financial Services

Among all industries affected by the pandemic and changed by the digital transformation wave, the finance sector experienced one of the most drastic changes in its transformation. Fintech being one of the industries completely dependent on manual work and person-to-person contact, the road to digital transformation and fintech has been a new journey in this sector. The evolution of digital transformation in finance industry has become a business imperative to improve customer experience through development of new products and services.

According to Binder Dijker Otte (BDO), 97% of financial services firms are putting their resources into digital transformation after reshaping their business models to stay competitive in an evolving sector.

Growing enterprise agility

After the numerous experiences gained from the previous financial crisis, an organization’s ability to expand its agility has become a vital trend in the industry. However, to support the type of constant advancement and improvement that shapes the foundation of agility, financial organizations need quick, reliable access to growing amounts of information without making tedious manual work processes.

Increasing mobile banking

The worldwide pandemic has seen customers rushing to mobile services for their financial requirements and bringing digital transformation in banking industry. While mobile banking is not a new concept, but as the first lockdown was imposed, according to Fidelity National Information Services (FIS), that works with the world’s largest banks, said that there was a 200% rise in new mobile banking registrations in April 2020; while mobile banking traffic rose 85% increasing the need for digital transformation in banking.

The universal utilization of smartphones in our day to day lives has increasingly shifted our choice to digital banking for everyday banking services like electronic bill payments, shared payments and instant transfers.

Increased collaboration

As entrepreneurs and business leaders across different industries embrace the team structure as an operational model and acknowledge the democratization of information, there is nowhere required to work together as solidly as in the financial sector. Since, financial enterprises need to adhere to administrative guidelines that implement a siloed way to select business units. But for other business units, the ability to effectively communicate and work can mean the difference between getting to the end goal first.

Risk assessment

The collection, storage and analysis of big data is extremely important to financial services and digital transformation consulting firms. For instance, the quick and perfect finish of a due diligence process before a huge merger and acquisition can make great differences for the financial investors, organizations and employees influenced by it.

Mobile pay utilities

A decade ago there was a time, when mobile wallets were a totally new concept to the people. As times are changing, thus, so are the methods of putting away riches and making payments. Mobile wallets have become the rule of the payment, be it merchants, shopping malls, and other sellers like to utilize mobile payments versus traditional cash and checks. All thanks to the comfort, security, and ease of availability have provided a route to digital development in finance sector over the years, which keep on developing as the time goes on.

Challenges Faced In Fintech Digital Transformation

The first challenge they face is how to present investors and other stakeholders with a clear view of their proposal, especially if their offer is not in a certain way in the existing markets, and is not allowed by a certain number of customers. These difficulties present challenges in raising funds for commercial investors. These participants will want to see clear evidence that fintech digital transformation is innovative, capable of measuring and mitigating its risks as much as possible.

Fintechs faces a major hurdle in building relationships and trust within clients working with traditional financial services providers. Fintechs needs to fight the myth that their new invention calls for security and data management.

Fintechs needs a very supportive control framework that aligns boundaries, to be able to scale globally with minimal collisions.

The fourth digital transformation challenge comes in the form of international action; 95% of Fintech firms failed when trying to scale up. The reasons for this is that Fintechs are failing to operate beyond regional and national regulatory limits, and are failing to reach customers at critical times.’

Conclusion

Financial innovation presents an important opportunity that exceeds its impact on financial services firms; the whole economy can benefit. It embraces changes in the supply of banks, insurance companies, investment funds and other digital strategy financial services firms, as well as the transformation of internal structures and processes, management systems, new ways of communicating with clients and distribution channels. emerged as the cornerstone of new financial institutions.

Digital strategy consulting firms and Fintech provides new ways for customers to access and deliver financial services, with simple ways to make payments on investments with quarterly advice and create a personalized budget with the help of the app. Fintechs brings corporate thinking to the forefront while also increasing competition, customer focus, and collaboration. These fashions bring clear benefits to consumers in the form of competitive pricing, as well as new and easier services to manage their finances.

After getting to know the growth of fintech through digital transformation, now it is time to select the appropriate digital transformation companies to reach your goals. For any information or query you can contact us at Anteelo– a known digital transformation consulting services company.