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Towards a Digitalized India

On May 24, 2017 · Add Comment

It is a fact that digitalization in India is on a rise. There is a surge in internet usage over past 2012 in India. A robust reason for the same is the accessibility of smartphones to the vast population. There is no denying that smartphones have penetrated our lives and have created a dependency.

From banking to insurance, the penetration of Internet services has increased about 15% in rural areas and has risen to 30% in urban areas. Mobile has become the leading source of internet access in India. A research study shows that by 2020 the users in rural India will increase to 315 million, making rural India a strong bet for BFSI to provide their digital services there.

The government of India, in the year 2016-17, have started initiatives such as ‘DigiGaon’ and National Digital Literacy Mission (NDLM) that will help rural internet users to get acquainted with the literacy of internet, leading to increase in use of various types of digital services. This creates an opportunity for the BFSI to reach the potential customers in the rural areas.

Banks can opt for an automated process of customer onboarding. There is no need of physical branch services anymore as the field employees can help customers with all the banking services with the use of a smartphone. Still, one of the main concerns is the network connectivity.

In rural areas, the bandwidth connectivity varies from 2G to 3G. Providing services on 2G connectivity can be a challenge. A strong reason being, uploading large size mobile captured or scanned customer files. There is a solution for this.

Instead of uploading the captured or scanned documents in the raw format, why not compress the documents before uploading. This will help in fast uploading of files, but then again compression of a file can cause visual quality loss. So it becomes a challenge to upload compressed files in the same quality. This can be rectified.

adStringO software is helping Banking Finance Service Industries (BFSI) go branchless & service in up to 6 lac rural areas without having a physical branch. Everything, even onboarding a customer will be easily possible with adStringO’s service. Automation of customer onboarding from anywhere, even at low network connectivity like 2G, is achievable with adStringO software.

Our motive is to eliminate the paperwork & transform it into a completely digitised mobile based onboarding. In the case of customer buying an insurance, the smartphone can be used to make a video, in the size of a PDF file, of the customer’s declaration as a firm proof, along with the scanned or mobile captured soft copy.

The dependency on smartphones is increasing at a high rate and to provide a better service to the customers BFSI firms need to act quickly and smartly. Provide your customers with an automated end-to-end, hassle-free service for a better and satisfied customer relationship.

Sources
1.Business Standard
2.Economic Times
3.Digital India Programme
4.Reserve bank Of India

4 Reasons Why Leading BFSI Firms Onboard adStringO

On September 19, 2016 · Add Comment

The Whole Wide World is going through a strong force of digital transformation. India, alone, is expected to cross the mark of 730.7 million mobile users mark by the end of 2017, providing a affirmation why BFSI (Banking, Financial Services & Insurance) firms are targeting smartphones.

A research published by Deepti Chafekar, A Day in the Life of Mobile Users in India, on Quettra research website says that, an average Indian spends 3 hours per day using smartphone to carryout various tasks lie communicating, shopping, surfing, gaming, finance managing, banking, etc. This is an indication why leading BFSIs are leaving the manual method & switching to digitization of the services.

Digitization of services is creating storage & bandwidth solutions to surface. adStringO is world’s fastest endpoint compression providing BFSIs all solutions for a better storage & bandwidth saving that sums up to 90% cost saving annually. Below are four points that make adStringO Software a must service for leading BFSIs.

1. Lossless compression of image, pdf, audio or video file

When digitization of customer documents is done, it is saved in one of the file formats like jpeg, pdf, tiff, etc. Similar is for any sort of audio & video file, which are saved in wav, mp3 or mp4 formats. adStringO Software is capable of compressing all formats of file up to 90%* with no loss in visual quality.

2. 90% savings on bandwidth & storage

When your file gets compressed up to 90%, automatically your storage for the file is reduced by the same ratio and when the file is transferred over a network, the bandwidth too is saved up to 90%. For example a 1 gb file compressed up to 100-200 mb will help save up to 900 mb space & will be lot easier to transfer over network than a 1gb file.

3. 90% annual cost saving

With adStringO endpoint compression files are compressed up to 90%, thus, resulting in saving of storage space & bandwidth used up to 90% too. Larsen & Toubro Insurance implemented adStringO compression & was able to achieve the desired results. 90% saving on storage & bandwidth on each file transaction. So, a 90% cost saving annually!

4. Works on 2G connectivity

As the file compressed is up to 90%, say 1 gb to 100 mb, it becomes easy to transmit big files on low networks, such as 2G. This has led BFSIs to easily reach & operate in rural areas, without having any physical branch with just field/sales employee with mobile device on location.

So, if you are looking for transforming your business digitally & want to reach the maximum potential customer to provide services on their smartphones then on board our solutions that are preferred by leading BFSIs in India.

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Towards a Digitalized India

4 Reasons Why Leading BFSI Firms Onboard adStringO

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