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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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Pull-Out Beds: Maximizing Comfort in Compact Living Spaces




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In today’s fast-paced world where living spaces continue to shrink, the need for furniture that offers both functionality and space-saving qualities has become increasingly vital. Among these multifunctional pieces, pull-out beds have emerged as a versatile solution, revolutionizing the way we utilize limited space while prioritizing comfort.

Efficient Space Utilization

Pull-out beds, also known as sofa beds or trundle beds, are ingenious space-saving furniture items that serve dual purposes. During the day, they function as stylish sofas or seating arrangements, seamlessly blending into the living area. When the need arises, these beds effortlessly transform into comfortable sleeping spaces at night, catering to guests or offering an extra bed without consuming additional room.

Enhanced Comfort Without Compromise

One of the remarkable aspects of pull-out beds is their ability to provide comfortable sleeping surfaces without compromising on comfort. Modern designs incorporate high-quality mattresses and supportive structures, ensuring a good night’s sleep comparable to traditional beds. Additionally, advancements in mattress technology offer various options, such as memory foam or hybrid mattresses, catering to different preferences while maintaining compactness.

Versatile Designs for Diverse Needs

Pull-out beds come in diverse designs, ranging from sleek and contemporary to more traditional styles. This versatility allows them to complement various interior aesthetics, ensuring they seamlessly integrate into the existing decor of any space, whether it’s a studio apartment, a guest room, or a multifunctional home office.

Convenience and Ease of Use

The convenience of having an extra bed that can be tucked away when not in use cannot be overstated. Pull-out beds are user-friendly, with mechanisms that enable easy transitioning between sofa and bed modes. Their functionality eliminates the hassle of setting up or storing additional mattresses, providing a hassle-free solution for accommodating guests or unexpected overnight stays.


Pull-out beds stand as a testament to innovation meeting practicality in the world of furniture design. They offer an ideal solution for maximizing comfort in compact living spaces without compromising on functionality or style. Their ability to seamlessly transition from a chic sofa to a comfortable bed makes them an indispensable addition to modern living arrangements, providing a perfect balance between comfort, convenience, and space efficiency. Whether in small apartments or larger homes, pull-out beds continue to redefine how we optimize space while prioritizing comfort and versatility.

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Why You Should Invest in Influencer Marketing to Boost Your Instagram





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In today’s digital era, Instagram has become a powerful platform for brands to connect with their target audience and build a solid online presence. Influencer marketing is one of the most effective strategies to amplify your brand’s reach and engagement on Instagram. By collaborating with influential individuals in your industry, you can leverage their credibility and massive following to promote your products or services. This article will explore why investing in influencer marketing is crucial for boosting your Instagram presence. We will delve into the benefits, strategies for identifying the right influencers, techniques to increase brand awareness and drive conversions, and measuring the success of your influencer marketing campaigns. Additionally, we will discuss valuable tips, emerging trends, and the growing importance of influencer marketing in shaping the future of digital marketing. Get ready to unlock the potential of influencer marketing and take your brand’s Instagram to new heights.

The Power of Influencer Marketing on Instagram

Instagram: the land of filtered photos, well-curated feeds, and endless scrolling. It’s no secret that this platform has become a cultural phenomenon, with over a billion active users worldwide. But what sets Instagram apart is its power to shape trends, influence consumer behaviour, and make or break brands. From fashionistas to fitness enthusiasts, Instagram has created a whole new breed of influencers who hold sway over millions of engaged followers. And where there are influencers, there’s a golden opportunity for businesses to tap into this power check now.

Remember the days when celebrity endorsements ruled the advertising world? Move over Hollywood A-listers because a new generation of influencers is taking centre stage. Influencer marketing has gained immense popularity for a simple reason—it works. By partnering with influencers who have built a loyal following, brands can organically reach their target audience, connect personally, and generate an authentic buzz. Plus, it’s a win-win situation: influencers get paid for their collaborations, and brands get to leverage their credibility and influence. It’s like a modern-day word-of-mouth on steroids. So, why not jump on this Instagram bandwagon and give your brand the boost it deserves?

The Benefits of Investing in Influencer Marketing

In a world where trust in traditional advertising is dwindling, influencers offer fresh air. By partnering with influencers whose values align with your brand, you tap into their credibility, loyalty, and trust. Their followers see them as friends rather than salespeople. When an influencer shares their genuine experience with your product or service, followers are more likely to trust their recommendation and consider your brand credible.

Influencers can be your secret weapon if you’ve been struggling to reach your target audience. With their carefully cultivated following, they have the power to put your brand in front of thousands or even millions of eyes that you may have otherwise missed. By identifying the influencers who resonate with your target audience, you can expand your reach and ensure that your message reaches the right people. It’s like having a stampede of potential customers knocking on your door.

Brand awareness is essential for any business, and Instagram is the perfect platform. Influencers have an uncanny ability to make your brand go viral, spark conversations, and create a buzz that traditional marketing methods can only dream of. They bring your brand to life through captivating content, engaging stories, and interactive experiences. By strategically partnering with influencers, you can catapult your brand into the spotlight, gaining exposure and making sure your brand stays at the forefront of people’s minds.

How to Identify and Partner with the Right Influencers

Before diving into the world of influencer partnerships, take a step back and define your target audience and brand goals. Knowing who you want to reach and what you want to achieve will guide you in finding the perfect influencers who align with your brand.

Not all influencers are created equal, and not all partnerships will yield the desired results. That’s why it’s crucial to conduct thorough research on potential influencers. Please closely examine their content, engagement rates, and audience demographics. Are they authentic? Are their followers engaged? Do they align with your brand values? Asking these questions and doing your due diligence will help you find the diamonds in the influencer world.

Authenticity and engagement are the magic ingredients that make influencer marketing successful. Look beyond the follower count and dig deeper into the influencer’s ability to connect with their audience. Are their followers genuinely engaged with their content? Do they respond to comments? Are they trusted within their niche community? Building a relationship with an influencer who genuinely cares about their audience will ensure your collaboration feels genuine and resonates with their followers.

Leveraging Influencer Marketing to Increase Brand Awareness

When it comes to influencer marketing, collaboration is critical. Work closely with the influencer to create a campaign that aligns with their style and resonates with their audience. By combining your brand’s unique message with the influencer’s creative touch, you can create a content masterpiece that captivates and engages their followers.

Content is king, and influencer marketing is the lifeblood of success. Collaborate with influencers to create content that embodies your brand’s values while staying true to their authentic style. Whether a beautifully styled photo, a heartfelt testimonial, or a captivating video, compelling content grabs attention, sparks curiosity, and leaves a lasting impression on your audience.

Want to supercharge your brand’s visibility? Hashtags and viral challenges are your secret weapons. Work with influencers to create trendy hashtags or participate in existing ones that align with your brand. Encourage their followers to join the challenge, share their experiences, and spread the word like wildfire. The more people participate, your brand’s exposure and engagement will skyrocket.

In Instagram, influencer marketing offers a unique opportunity to boost your brand’s reach, build credibility, and create a lasting impact. So, why wait? Harness the power of influencers and let your brand shine in the spotlight of the Instagram stage.

Boosting Engagement and Driving Conversions through Influencer Marketing

Influencer marketing is a powerful tool for boosting engagement on your Instagram account. When you collaborate with influencers, they can create content that resonates with their audience and encourages active participation. Think captivating videos, stunning photos, and relatable captions that get people talking and sharing. By leveraging the creativity and authenticity of influencers, you can create a vibrant and interactive community around your brand.

One of the advantages of influencer marketing is the ability to drive conversions. Influencers can strategically incorporate call-to-actions (CTAs) into their content to maximise this potential. Whether encouraging followers to visit your website, purchase, or sign up for a newsletter, well-placed CTAs can generate valuable leads and turn followers into customers. By working closely with influencers, you can ensure that your CTAs are seamlessly integrated and compelling.

Influencer marketing can be a game-changer for your sales funnel. When influencers endorse your products or services, providing a smooth and seamless journey for potential customers is crucial. By optimizing your landing pages and sales funnels, you can create a seamless transition from an influencer’s content to a personalized and persuasive buying experience. This enhances the customer experience and increases the likelihood of converting followers into paying customers.

Measuring the Success of Your Influencer Marketing Campaigns

To evaluate the effectiveness of your influencer marketing campaigns, it’s essential to establish clear and measurable key performance indicators (KPIs). These can include engagement rate, reach, click-through rate, and conversion rate. By defining your KPIs upfront, you can track progress, set benchmarks, and make data-driven decisions to optimize your campaigns.

Luckily, measuring the success of influencer marketing doesn’t have to be a guessing game. Plenty of tracking and analytics tools available can provide valuable insights into the performance of your campaigns. From tracking the number of clicks on an influencer’s link to analyzing audience demographics and behaviour, these tools can help you understand the impact of your partnerships on your overall marketing efforts.

Ultimately, the success of your influencer marketing campaigns comes down to return on investment (ROI). By comparing the costs of your campaigns with the revenue generated, you can assess the profitability of your strategies. If specific influencers or types of content consistently deliver high ROI, you can allocate more resources to those areas. Conversely, if some campaigns need to produce the desired results, it may be time to reassess your approach and try new tactics.

Tips and Strategies for Maximizing ROI in Influencer Marketing

While one-off collaborations can be beneficial, building long-term relationships with influencers can be a game-changer. You can tap into their dedicated audience and benefit from ongoing exposure by fostering loyalty and trust. Long-term partnerships also allow for deeper integration of your brand values and messaging, resulting in more authentic and impactful content.

Incentives can be a powerful driver of engagement and conversions. By creating exclusive offers and promotions in collaboration with influencers, you can develop a sense of urgency and scarcity that motivates followers to take action. Whether a limited-time discount or a unique package, these exclusive deals can generate buzz, boost sales, and strengthen the bond between your brand and its audience.

Listening to your audience is crucial for optimizing your influencer marketing efforts. Actively monitoring comments, messages, and mentions allows you to understand customer sentiment, identify pain points, and address concerns. By promptly responding to user feedback, you can demonstrate your commitment to customer satisfaction and foster positive relationships with your audience, increasing trust and loyalty.

Future Trends and the Growing Importance of Influencer Marketing

Influencer marketing is an ever-evolving field, and new formats continue to emerge. From Instagram Stories to IGTV and Reels, influencers are finding innovative ways to engage their audience. Keeping an eye on these emerging formats and experimenting with them can help you stay ahead of the curve and tap into new possibilities for brand exposure and engagement.

While macro-influencers often grab headlines, the rise of micro-influencers is worth noting. These are influencers with smaller but highly engaged and niche audiences. Collaborating with micro-influencers can be an effective strategy for reaching specific demographics and communities. With their strong connection to their followers, micro-influencers can generate authentic and highly targeted content that resonates with their audience.

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