Impact of Automation in Banking Industry

Impact of Automation in Banking Industry Home career Impact of Automation in Banking IndustrycareerCollege CampusesImpact of Automation in Banking IndustryBy Sugandh - March 11, 201730840Facebook Technology, by its basic underlying concept was supposed to make things easier in a more pre-defined manner such that processes can be done in a sequence and the desired results can be obtained. But if one stop seeing the effects of it on the macro level and goes into the details, it is quite evident that use of technology in work place has had both the good as well as the bad effects. Banking Industry, being one of the most regulated industries on the globe has seen many changes in the way of working in the past few decades. From being solely driven by work force, now more and more technology involvement has led to automation of services. But only the technology or automation inside the sector cannot be blamed. Because of development of many ancillaries as well which gave better internet penetration (costs slashed to almost nil as compared to the starting), it has further motivated the customers to go towards more technology-savvy methods.Banking industry has evolved a lot. Gone are the times when one has to go to bank physical branch to make deposits, now we have cash deposit machines to do so. Economies all across the globe are going more and more cashless and the trend of online shopping has increased at an unbelievable pace! In a recent data released, around 45% of people worry about the risk of unemployment and this is basically caused by the effect of automation. Long gone are times when humans could have applied for a job, researchers say that one time will come when job openings will have the line “Humans need not apply”.But why this happening is a real question. On one hand where we say that human intervention is essential for certain roles like a relationship manager in a bank, but isn’t it a top management position? Why are we even looking at those? If one has to see, then the primary focu s must be on the lower end jobs. We can divide this into the variable hour’s employment and the fixed employment.   What has been hit the worst is the lower jobs where the employer could identify clearly the money spent on human capital, skilled in nature. This phenomenon is called as   de-skilling. With the intervention of machines and technology, one needs only the lower skilled people to do machine operating work. This saves cost for the institution and leads also to more efficient results. Now in this case, the people who were previously engaged in the same job gets shifted a notch up and become semi-skilled. Now the same job as in question also requires lesser number of people thus leading to loss of jobs.The effect of technology is higher even for the people in top management. They have to be aware of all the new methods because the clients want more cost savings and want to in pace with the world. Now for a person involved in a top management, they have resources and knowle dge to learn more. Hence the semi-skilled person is the one who is at a real loss.The increase in technology is directly proportional to the need for skilled labour.The increase in technology requires increase in skills of middle level jobs as well.Low skilled jobs are created but are mainly for an outsourcing purpose and provide for cheap labour.Technology Changing The Face Of Bank OfferingsTechnology has completely transformed how the banks used to work. Now they are moving at a very fact pace towards digitalization of banking services. Most of the services that are provided by the banks can now be accessed through online medium. Even if we divide the services into regional banks serving mainly the retail customers and whole sale banks catering to corporate needs, technology has found a way in it.Regional Banks:If we are to consider the current state of employment in bank branches, reports tell that nearly only one-third of the previous work force is employed now. The banking sect or approach to business has also transformed from what it was initially. The focus was previously laid on fulfilling requirements but now it is more on customer service and improving the status of the same. More focus is now laid upon profitability fo the bank as well as that of a customer which helps in nurturing the relationship. Clearly for purposes like these including cross selling and up selling, a high school graduate is not enough and one needs to have people with better skill sets.Moreover, with digitalization, services are becoming more complex for the operators and hence the educational qualifications are increasing tremendously. To beat the immense competition, banks need to stay connected to their customers to insure stickiness and that requires constant communication which way easier by the way of automated messages, email etc… There is no doubt that human touch is required in the form of relationship managers but there is only a little they can do.Wholesale Banks:                     Wholesale banks largely serve to the business houses and corporate clients and thus have a completely different set of services as compared to the regional banks. The needs of this customer segment differ majorly both in terms of the type of products and their monetary value.The effect of technology has not only been on the banks but also the businesses that they serve to. The business in 1980’s were going over other countries and increase of globalization further helped to speed up the process. Thus there were risks like foreign currency investments, trade risks etc… These services were possible to be provided on through technology. The wide range of services to be provided thus required technical skills and requirement of MBSs increased drastically. Services like risk reduction and analytics, loan analysis, credit management also caught up soon.Those banks who could not support these functions internally then went on to a cheaper source “outsourcing of act ivities”. Thus development of IT sector got a new pace.TAGSautomationJobsNo JobsTechnology Taking Jobs

Getting Your Kids To Do Homework Without You

Getting Your Kids To Do Homework Without You It’s time to get off work and head to your second job: picking up the kids, providing dinner, and helping with homework.  Relax, it can be a little easier and it doesn’t have to take forever. Whether you are a parent that is married, single or divorce, you can conquer the homework game. Here are a few tips on how to motivate the kids to do their homework without you. Select an after school program Find a tutor or babysitter that will help them do their homework before you pick your child up. Not all after school programs provide this service but it will be worth it to employ one that does.  At a minimum, they should set aside homework time for the kids to do their homework.  Kids help each other.  Usually an assistant will check to see if the kids have any questions and if they do, provide basic tutoring. Surprisingly, there may not be a difference in price but that will depend on the depth of tutoring service provided. Ask ocher parents for recommendations.  This service will release stress and frustration for you at the end of a long day.    It will be a big item to take off your to do list as well as free up time for fun family time.  However, you will want to check your child’s homework personally to show your interest in their school work and to see if they are having problems in any areas. In addition, checking their work will give you a good time to say “good job.” Increase reading interest with recordings.   Kids usually are required to read a certain number of books in their reading or language arts class or for extra credit. They may have an assignment to read a story or book and then answer questions in relation to the reading assignment.  In this case, have your kid read into a tape recorder. This work for all ages. Tell them you will listen to it when you get home before you go to bed.  The kids will have fun recording themselves.  In addition, they won’t know if you actually listen to it. The point is to motivate them to love reading and get them to do their homework without you. Set aside the same time each day for homework with little exception. Kids do well with schedules and like knowing what is expected of them. Homework time can be time you get home, before or after dinner. Tell your kids they are to do their own homework but can ask for assistance if they need it.  Be available if they need help.  Homework is designed for kids to do their own work but they may need someone to call out vocabulary words for spelling and definition tests.  Cut TV and internet time through the week to 30 minutes a day and only after homework is done. Make sure you check all home work to avoid snow jobs. Kids will tell you they don’t have homework.  Get their teacher’s email addresses.  It is a convenience and a good way to communicate about your kid and their school.  Don’t expect answers the same day but within two or three days    Remember, to use it sparingly as teachers workloads are heavy. Encourage your kids to succeed. Motivation = confidence + interest.  Avoid demoralizing or criticizing your child because if you don’t they may become underachievers. They will think that nothing they do will make a difference and will stop trying.  Your child may develop low self-esteem.  If your child sees his or her homework as a challenge, speak to your child’s teacher and get suggestions.  Your job is to make sure your child is capable of doing the work, have the supplies they need to do the work, and complete their homework and turn it in on time.  Check often to make sure your child brings home the needed books. Most classes include a syllabus with topics to be taught during the course. Make sure you and your child review it together often so your child will get the “big picture” of what is being taught. Make sure their notebooks are organized. Create a system for your child to follow to keep up with homework assignments: student planner, section in their notebook or paper tablet. If your child is confident they can do their homework with success, they will excel in getting the home work done with little assistance. If your child refuse to do their homework, disciplinary measures are in order: time out or take away a favorite pastime (cell phone, TV or computer) until grades improve. Give non-monetary rewards. Brag about your kids in front of others especially grandparents.  Tell how your child do his or her homework with little assistance.  Post a board, calendar, or chart in their room and draw stars on it when your child does well.  Kids can show it off to visitors.  Allow them to put stars on the board if they have a very good day in school. Especially, if the teacher gives them a complement or note saying how well they are doing.  This is a visionary reward system that outweighs money.     In conclusion, kids are capable of doing their homework. It is their responsibility.  However, it is the parent responsibility to make sure their child has supplies, monitor homework for completion, and detect problems that will need assistance or further investigation. Provide assistance if needed.  Encourage your kids in order to get them to do their homework without you. If they are successful, don’t forget to brag on them.  Good Job.

Steve Pavlinas 5-Point Guide to Achieving Your Personal Branding Goals - Personal Branding Blog - Stand Out In Your Career

Steve Pavlinas 5-Point Guide to Achieving Your Personal Branding Goals - Personal Branding Blog - Stand Out In Your Career This week well work on more effectively achieving your goals as you build your personal brand. Helping us today is personal development guru (and a top personal role model) Steve Pavlina,  who is widely recognized as one of the most successful personal development bloggers on the web, attracting over two million monthly readers to his blog. With a full-time job and outside hobbies, it can be difficult to regularly make time to build your brand. Use the tactics below to break through the clutter and achieve your goals. 1. Super Slow. Commit yourself to working on a particularly hideous project for just one session a week, 15-30 minutes total.  Purge 10 tagged Facebook photos that dont back up your brand.  Write a few paragraphs of your first eBook.  Call a colleague to get feedback on how they perceive your brand (so you can improve it). Then stop. This is particularly effective for painful tasks that youve been avoiding. Its easier to plow through them if you know youll only spend a small amount of time. 2. Dailies. Schedule a specific time each day for working on a particular task or habit.  One hour a day blogging or tweeting could leave you with a flourishing blog or a powerful and engaged Twitter network. Make it a regular part of your routine so that your dailies become second nature. 3. Add-ons. Tack a task you want to habitualize onto one of your existing habits.  Answer a question on LinkedIn related to your expertise after you eat lunch.  Send a written thank-you note or a lets-catch-up note to someone in your network every time you cash your paycheck. These are fun to creatively tie to other events and are doubly satisfying when completed. 4. Mastermind. Run your problem past someone else, preferably a group of people.  Invite all the advice, feedback, and constructive criticism you can handle. What would your closest friends and mentors do? Integrate their feedback and see if it works for you. 5. Armageddon. Use overwhelming force to totally dominate your problem: as Steve says, use a bazooka to kill a cockroach.    Block out a two-day camping trip and bring nothing but a notebook and a full list of your accomplishments. Dont pack up your tent until youve crafted the perfect three-sentence bio for yourself. With this approach, I find it helpful to focus on one problem and not give up until it is  solved. Bonus: Know when your work is “good enough.” Before putting more effort into any task, ask yourself:  Will anyone but me appreciate my efforts? Can I significantly improve this if I keep working?  Does the possible gain in quality outweigh the lost time?  If you’ve answered “no” to these questions, wrap it up and move on. If you’ve answered “yes,” map out what still needs to be done and do it but nothing more. Perfectionism can slow you down just as much as procrastination. What tactics do you use to make sure you get everything done related to your personal brand? Is it a daily or weekly routine, or just whenever you remember? Is it part of your corporate policy? Id love to hear your personal stories and strategies you use to get things done for your brand. Author: Pete Kistler is a leading Online Reputation Management expert for Generation Y, a top 5 finalist for Entrepreneur Magazine’s College Entrepreneur of 2009, one of the Top 30 Definitive Personal Branding Experts on Twitter, a widely read career development blogger, and a Judge for the 2009 Personal Brand Awards. Pete manages strategic vision for Brand-Yourself.com.

How to be a Successful Online Teacher

How to be a Successful Online Teacher You may have the necessary knowledge in your field and years of teaching experience, but unless you are somewhat familiar with how the online teaching business works, things may not go as smoothly as you are expecting it to. While you will still probably be teaching most of the same stuff, the setting is completely different to what you are used to. Therefore, it is advised you take a look at the following helpful tips if you are having problems adjusting to the new format. It’s a Full-Time Job A rookie mistake that many of us have made after entering the online teaching field is unwittingly or even sub-consciously considering it to be a “part-time” job. The truth is that it isn’t. In fact, if anything, it can be even more time consuming than a traditional teaching job with more or less fixed hours because online teachers have no fixed hours! Since you do not meet your students on a regular basis, you will have to be available to them 24/7, in case they need you, and they will need you a lot. Implement the Right Technology When your profession is entirely dependent on technology, you need to implement technology that will aid you in your teaching process. To begin with, make sure that your site is being hosted by one of the best web hosts UK. You don’t want your site to go down in the middle of a video seminar. Speaking of video seminars, invest in some quality shooting equipment and make sure that the internet connection is fast enough to broadcast lessons to your students in real time if you decide to schedule a live class. There are a lot of webinar services out there, so make an informed choice according to the needs and purposes of your teaching business. Group Activities May Not be a Great Idea Collaborative education is a favourite tool of the teacher who believes in the constructivist educational approach. However, it may not be ideal for the online scenario, in spite of the internet seemingly being the perfect place to put it into effect. There are controversies regarding collective responsibility even in traditional classroom settings, but those same old problems become whole new issues when the teacher does not have direct control over the situation. Getting to Know Your Students will be Tougher When you don’t exactly see the body language, class behaviour, or even share a verbal conversation, getting to know your students can get very tricky. Ironically, since you are not meeting or talking to them regularly, getting to know them becomes even more important to get your points across in a way that makes sense to the students. The key is to not be hasty in drawing conclusions about the personality and the abilities of a particular student. Studying online can be just as tough for some students as it is for new teachers; so give them time. A point that any online teacher would do well to remember is the fact that online courses are about flexibility and freedom. You have probably entered the internet-based education field with more or less the same mindset and the students you are teaching almost definitely share your outlook. Therefore, even if you were “the man in charge” when you were teaching at your last school, maintain a less rigid attitude online. A teacher who tries to convince and influence his/her students will see more success as an online mentor than someone who tries to command. .

Rules When Writing a Resume

Rules When Writing a ResumeWhen writing a resume, it is always advised to follow the rules of grammar usage. Many people write resumes for high profile jobs in order to get such jobs.The only requirement that you need to have to be hired is that you must have an eye for detail. Your writing is the most important component of your resume. If you write in a sloppy manner, it can damage your chances of getting hired.Remember, if you choose to be a writer, it should be above professional standards. Some writers might not care about the rules while writing a resume; as a result, they could make false information.You should make sure that you follow the rules of grammar as well as spelling. You should also include what kind of work you are doing as well as other relevant information. It is also advisable to use proper punctuation and capitalization, even if it is a part of your formal etiquette.The rules of grammar when writing a resume are based on your responsibility to convey the inform ation clearly and concisely to the reader in order to make the person's personality to connect with your business opportunity. It is also advisable to include a cover letter.The cover letter can also be included in the resume but it is important to make sure that it contains the necessary information and it also serves the purpose of closing the gap between the employer and the candidate. The cover letter should be able to provide the information about your educational history, work experience, etc.The rules when writing a resume are based on the fact that it should help to create a rapport between the employer and the potential employee and it should make it easy for the employer to communicate his needs to the candidate. It is also vital to make the employer know about the skills and knowledge that are required for the position.Since you should be very keen about your writing skills, it is advisable to read more on writing a resume and to create one on your own. This way, you will be sure to gain the knowledge needed to make your resume a great success.

The secret to networking It may surprise you. - CareerEnlightenment.com

The secret to networking, givingIn the book, The Go-Giver, the authors, Bob Burg and John David Mann, outline The Five Laws of Stratospheric Success. It is worthwhile to explore these laws in relationship to networking.The five laws of stratospheric successThe Law of Value â€" Your true worth is determined by how much more you give in value than what you take in payment.The Law of Compensation â€" Your income is determined by how many people you serve and how well you serve them.The Law of Influence â€" Your influence is determined by how abundantly you place other people’s interests first.The Law of Authenticity â€" The most valuable gift you have to offer is yourself.The Law of Receptivity â€" The key to effective giving is to stay open to receiving.If you choose to apply these laws to career management -related networking, the process can and should be fun and rewarding! You are no longer measuring your success strictly by how many interviews and job offers come your way (though they are important), but by how much value you are creating.Start networking meetings not by talking about yourself and your situation, but rather by asking questions. Listen more.   Create an upbeat aura about your transition â€" the exploration of your future career path and the great people who you meet along this journey. Ask how you can help.Focus on helping the other person. This can take many different forms. For example:Send them an interesting, pertinent articleProvide a book recommendationSupply networking connections for themSupply referrals if they are recruiting for other positionsOffer to help someone else in their networkOffer support for personal issues that surface during your conversationThe number of ways that you can give is boundless. You will surely stand out in a crowded market by being a shining example of a mutually beneficial networker.Of course, ultimately, you are networking to help yourself, too. That is where the fifth law of stratospheric success come s into play. As you focus on giving, you must be open to receiving. After all the giving you are doing, your network will be bending over backwards to help you because it is human nature to help others who have helped you. Be open to receiving help and be clear about the help you are looking for. Ask for help and you will receive it, but only after you have given help. The secret to networking: create value for your network by giving to others.

Why is this position available

Why is this position available This is  one important job interview question you should always ask. The job interview is so much more than just selling yourself.  Yes, you have to do that, but you really want to see if the job is a good fit for you.   This requires you ask some really good questions.   Keep in mind, the interview is a mutual exploration. You want to know about the company and they want to know about you. Many of the questions you ask  questions are based  what is important to you in your next job. FYI, that means, you have to know what you want.  (You can learn about that here). Why Ask This  Important Job Interview Question Asking  Why is this position available can be incredibly insightful.   You want to understand the logic the company has for needing this position. Is it turnover, internal advancement,  growth? If the interviewer tells you:   You are the 5th person weve hired in the last year this begs a follow-up question or two.   Were the others fired, promoted, did they quit and why? If they were fired, it could be a management problem and you need to explore the management style and meet that manager. It could be that the goals of the position were set too high.   Explore the expectations of the position fully.   If they have been promoting these people, find out why.   Growth, new projects, both. Others leaving? If there has been a mass exodus higher up in the company, thats good to know, find out why. What if they tell you the position is brand new.   Again, find out why.   What is driving the addition of this job.   Keep in the back of your mind the old saying:   last in, first out.   You also want to find out how performance will be evaluated for this new position and how they came up with the numbers.   But what if they tell you that they havent defined the performance expectations yet, theyre waiting for the person to startwarning, danger Will Robinson.   An undefined job is usually first on the chopping block. A brand new position boasts of risk and reward.   That can be a wonderful challenge to some people.   At least enter into the job knowing what you are faced with. It is not only OK  to ask this question, it is mandatory.   It would also be a good idea to ask the different people you interview this question to see if their answers match. If you are looking for additional questions to ask, check out Interview Questions YOU Can Ask.