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Digital transformation in BFSI: 5 trends with data virtualization




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Digital transformation is a business priority for organizations across industries. Evolving customer expectations, fierce competition, an increasing need to streamline operations and more factors are driving the quest for innovation and reinvention.

For banks and financial service organizations, digital transformation isn’t an option; it is essential. Consumers have increasingly switched to the convenience of online and mobile banking. The global pandemic has only underlined the importance of digital solutions as contactless payments, mobile commerce and more have become an essential part of a touchless customer experience in the age of social distancing.

According to BDO’s 2020 Financial Services Digital Transformation survey, 100 percent of middle-market organizations across asset management, financial institutions and insurance industries have already either developed a digital strategy or are planning to develop one. However, only 27 percent are executing on a digital strategy.

While some organizations are readily capable of embracing digital transformation, the journey might be challenging, even daunting, for others. For most, it is important to shift their thinking, upskill employees and update organization culture to become a digital business.

For most BFSI companies, data virtualization facilitates digital transformation with the help of advanced data integration and data delivery methods that enable more agility, more flexibility and higher efficiency.

Data virtualization plays a key role in accelerating business value. It helps integrate data from multiple sources without moving or having to copy it, while providing a single virtual layer to access all necessary data.

In this article, we enlist the digital transformation trends in the BFSI industry with data virtualization.

Cloud computing

With most financial service companies now employing multiple cloud services, data virtualization is proving critical in integrating all the data from the different services from cloud providers.

Cloud computing offers myriad benefits that are widely acknowledged. However, the journey to reaping those benefits may be challenging.

Maintaining hybrid cloud infrastructures can be complex. The reason being organizations may need to combine multiple data sources in different formats and protocols from various cloud services. The sources may also include legacy on-prem and SaaS, the acronym for software as a service, applications.

To help address the challenges, data virtualization is kept in the architecture atop the different data sources. This provides a single layer that removes the complexity for users while exposing and integrating all the data with the help of a secure, unified data fabric layer.

Data is not moved or stored repeatedly, which means the IT department can proceed with cloud migrations and changes to the application without disrupting business users.

Digital payments

The use of contactless cards has grown rapidly in recent years and the possibility of a cashless society, where financial transactions will not be conducted with money in the form of physical coins and banknotes, cannot be ruled out.

One American multinational financial services corporation has documented that 31 million Americans tapped their contactless card or a digital wallet in March 2020; it was 25 million more in number compared to in November the previous year.

Equally, the percentage of people paying with cash is reducing drastically too. The numbers offer an insight into the payment patterns.

Reducing fraud is one of the salient features of contactless or digital payments, which also provide banks and financial organizations with new upsell opportunities.

Agile development is the need of the hour to take advantage of such shifts in customer behavior and data integration is again important to bring it to fruition.

Data virtualization is being leveraged to accelerate analytics outcomes with users reportedly saving 80-90 percent of traditional development and deployment times, which translates to competitive advantage.

Enhancing customer experience

The global pandemic has indeed accelerated the need for digital transformation for financial institutions, with consumers themselves more demanding.

Chatbots and virtual assistant are being widely deployed, while analytics and artificial intelligence (AI) are helping generate insights and facilitating personalized banking, which are in turn improving customer experience.

For banks and financial companies, the additional data presents more opportunities for upselling existing products, propensity modelling, reducing fraud, and to gain a clear understanding of new, better offerings.

For digitization and analytics to be effective to enhance customer experience, data integration is essential. Data virtualization is helping accelerate those capabilities by being a single point of access to all data, irrespective of location and source.

Open banking

A couple of key challenges must be addressed in open banking.

One key question is how much data you can expose and how it can be achieved. Data integration is the other challenge with open banking depending on the consolidation of data from multiple, siloed data sources.

Data virtualization’s unified data layer enables any data source or application to be combined in the virtual layer and exposed to any number of consumers of data.

The virtual layer in the data virtualization platform also provides centralized security, governance, and early exposure via APIs, in addition to accelerating data integration.

In contrast to traditional data integration methods that depend on batch movement and typically copying high volumes of data, data virtualization enables real-time access to data.

Online and mobile banking

According to a Statista report from November 2020, adoption of online banking increased from 55 percent to 76 percent in the last five years. And of course, the trend is only set to continue its upward trajectory.

Exposure of internet banking services and exposure of applications on mobile devices require backend data integration from multiple disparate systems. A lot of those systems were built without taking into account the new data integration requirements.

Leveraging data virtualization as a common layer to expose all sources helps a data model to be developed once before exposing it to consumers of multiple channels. It helps accelerate development and add new services, products and functions.


Digital transformation helps unlock key capabilities to respond faster to customer needs, improve personalization and thereby enrich customer experiences. With the help of data virtualization, financial organizations reduce time-to-market and achieve greater agility to meet evolving market dynamics.

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8 unique tips for choosing the best carpet for your home in 2021




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You cannot ignore the floors if you want to make your room look perfect. The beauty of the floors is enhanced by proper carpets or rugs. The carpets embrace the floors with the utmost care. As a result, the floors can be saved from damage too, all thanks to the carpets.

But, there are various kinds of carpets and rugs available in the market. So, if you plan to buy the best carpet for your home but are unsure about which one to buy, then here is the post that will act as a practical carpet buying guide for you. 

This post will talk about several tips to select the best carpets and rugs for your home. It is not always easy to choose the best carpet because it has to look good, and the color and style should fit well with the rest of the decoration. 

The carpet is a crucial accessory that transforms the look of the space, makes the room comfortable, and additionally provides insulation in winter. The carpet is similar to jewelry that will deck up space in the most beautiful ways possible. 

The main thing you have to know is the ways to choose the right kind of carpet. So, below are the tips to choose the best carpet for your home. 

Tips for selecting the best carpet 

The kind of carpet will be determined by the shape and size of your house, the family members, your budget, and the ambiance you want to reflect. Different carpets serve multiple purposes, and after knowing your primary motivation to buy the carpet, the carpet selection will become much easier.

We list down some of the factors which will act as crucial tips that may help you choose the best carpet or rugs for your home.

  • Size of the room

The size of the room is essential. If the room is small, then you must go for a smaller carpet. If your room is large, then a larger carpet will be required. 

In small rooms, you can use rugs, which will cover a few selected portions of the floor and not the whole floor. If the floor is a little bit visible in the small room, then the room looks bigger than the actual size.

  • Colour

There are roughly thousands of color variations and designs of carpets available in the global market. However, if the color of the wall is in some darker shades, then it is advisable to buy some light or white carpet. 

If the walls are of some light neutral colors, you can either select an equally light color or a darker shade. Of course, a monochromatic look in a lighter room is much better than in a darker room. But we know that the contrast looks better.

  • Texture

If you have kids and pets in your home, then you must choose low-maintenance carpets. In case when there is a food stain on the carpet, you can remove it quickly. There are cotton, synthetic, and polymer carpets. You can choose Persian rugs as per your choice, and also as per the climate. You can select thinner carpets if the weather is too hot. You should go for Iranian traditional Persian rugs.

  • Use

Carpets and rugs can be placed in the bedroom, living area, and stairs, and at other places. Depending on the usage and position you want to put the rug, and then you should choose a carpet. 

The one type of carpet you keep in the living area may not go well in the bedroom and vice versa. So, the carpet for the bedroom should be soft and subtle, but the same carpet may not work for the dining area. The carpet for dining or living space has to be a bit dense and harder, so it can last longer.

While selecting the Persian rugs, you can consider how and where you are going to place them.

  • Budget

The budget is essential because, without funds, you cannot get the carpet you want. Suppose, if your budget is five thousand and the carpet you selected is worth fifteen thousand, then it will be problematic.

We know that interior decoration is important, but that does not mean that you have to dig a hole in your wallet. So, you can plan the budget first and then start planning to purchase a carpet. We prefer not to buy any carpet that you find random. Before purchasing a carpet, there are certain factors that you need to consider. 

  • Take a look at loop piles.

Loop piles are precisely in which the yarn is formed into loops. There are many variations of the loop piles, such as formal, linear look, and ribbed pattern.

Random loop piles give the carpet a textured and casual look.

  • Consider your preferred fiber type.

Carpets are available in one hundred percent wool, wool-nylon mixes, and myriad synthetic fibres. Wool gives a cooler feeling in summer, and it is warmer in winter, while it is not necessarily more expensive. 

While talking of synthetic fibers, solution-dyed nylon is the perfect selection. 

  • Think about plush piles

Cut piles in the carpet include plush piles, which give a super soft feeling and look like velvet. If you want that squishy, luxurious feeling, you must choose dense, plush-pile carpets that are lovely but keep in mind they show footprints.


You can get to know the essential tips to consider while selecting the best carpets for your home. Our short carpet buying guide will help you to choose the best carpet for your home. Then, you can choose the rug based on your preferences and considering the essential factors.

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12 Crazy Ways to Change the Colour of Your Home




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Dyeing your home’s items is the perfect way to change up a room and give it a new look. Did you know that many home items can be dyed? Whether to even out a color or just for the sake of change, it’s easier than you think! We’ve collected some of my favorite DIY dye projects from around the web and gathered links so that readers can try them too. The idea of dying home items isn’t new, but it is a great way to change your space and make it feel fresh. Many online tutorials give you ideas to get started with this project. We have some ideas if you want to know how to dye fabric for a pillow cover, area rugs for a new look, or a tablecloth! Ready to get crafty?


1) Paint Your Furniture

Yes, this is an oldie but a goody. There are so many tutorials for painting furniture on the internet that it’s hard to know where to start! Choosing colors or patterns can be fun and a great way to makeover your room with just some paint and brushes in hand. Painting an old furniture item will give it a new life, and you’ll also get to experience the satisfaction of completing your DIY project. You can refresh your home or create a whole new look with just some paint and patience!


2) Dye the Old Wooden Vase

If you’re looking for a new, inexpensive way to bring color into your home without having to buy anything, try this. You can take any old vase or large jar that’s made of wood and dye it with some water-based acrylic paint tinted the color of your choice! This is an easy project as all you need are two coats of paint and a couple of hours to let it dry. This project is perfect for those looking for an easy way to create color in their home with something they already own, without having to buy anything new! You can take any old vase or large jar that’s made of wood and dye it with some water-based paint for a fresh and new look.


3) Paint Your Old Candle Stand

Painting an old or worn-out candle stand is a great way to add some color to your home while also making the candle holder look sleek. Apply two coats of paint with drying time in between, and you’re all set!

TIP: Add layers of clear coat for extra protection on acrylic-painted furniture (or even painted walls) so that it doesn’t scratch easily or fade.


4) Dye Old Rugs

Renew the old rug in your house by dyeing it. You can do it in many ways. A few quick and easy options include using food coloring or dyeing material with an old rug hanging over the bathtub so that you can soak it longer than just about anywhere else! If you have old or worn-out oriental rugs, you can take them to a store like Carpet One that offers rug dyeing, and they’ll help make your old rugs look new again.

TIP: To make sure the color looks great on any rug, it’s a good idea to test the dye on an old rag before doing anything else.


5) Paint Rattan or Wicker Accessories

Rattan or wicker accessories can be painted to match your new room color. It is a great option for old items that need updating and doesn’t want to spend tons of money on new ones. There are plenty of other ways to change the look and feel of your home without spending any extra time or cash. Painting wicker and rattan furniture are also one of them.


6) Paint Hanging Planters and Pots

Paint hanging planters and pots bring color and life to your home. Give them a new and fresh look by painting them in colorful hues. It also makes your house look more alive and colorful. You can also add a different plant to your garden or add flowers in the pots and planters.


7) Tapestries

Another option to think about is a tapestry to change the color of your home. These typically come in two pieces, and you can hang them as curtains or use one piece on the wall near an entranceway, for example. It also adds a nice pop of color to the room without too much time or money invested.


8) Dye a Jute Basket

Jute baskets are a great way to store items, and they can be dyed in any color, so you don’t need to buy a new one. You have to soak the jute basket in hot water with some clothes dye for about an hour or until the desired color is achieved. It also makes it a unique piece that won’t get mixed up with other baskets. A dyed basket is used for an outdoor space as well.


9) Paint an Old Dresser

Paint an old dresser in a new color and add some knobs. This is also a way to liven up the room without buying something brand-new. Paint it with your favorite colors or paint different parts of the dresser different shades for maximum effect! A colored dresser creates a vintage retro vibe in your home. It is also the best pick for the entrance.


10) Painting faux Flowers

Faux flowers are a quick and easy way to spruce up your home! Painting faux flowers is an excellent way to create a new flower arrangement. You can also paint the leaves in different shades of green for added effect. It will completely change the vibe of your home.


11) Decorate with Gold or Silver Candles

Have some fun by adding gold or silver candles into your home decorating scheme! You can make your custom candles by coloring plain white with metallic paint in silver or golden tones. Or you can buy some gold or silver candles from a store and add them to your home decorating scheme!


12) Change the Handle on Your Door

Change your door handle to match your colored dresser! This will give off an even more retro vibe in your home, which is great for vintage lovers out there. The different colors of doors can also make it easy to identify where each room leads as well!


Wrapping Up

With different colors adding new life to your home, you’ll be able to transform it from drab and dull into a cheerful space. It doesn’t take much work either! Add color to your home with throw pillows on the couch or chairs in certain rooms, paint one wall a bold shade before painting the rest white, or buy rugs for each room at RugKnots. Take some time today and think about how changing up your home’s vibe will make you feel so happy when you walk through the door after a long day outside. What do you envision?

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