Category : Mobile

Mobile Opinion

Leveraging Technologies to Reshape the Real Estate Industry

Rapid advances in technology have permeated several sectors that anchor a country’s economy. This is a precedent that can also be applied to the real estate industry. Real estate, an asset class worth USD 217 trillion globally, has gradually embraced disruptive technology. It is a dynamic catalyst that will transform the way businesses are conducted in the future. Today, the growing influence of millennials and an investment boom in real estate technology has reshaped this industry around the world, including the Middle East.

Benefits of Technology in Real Estate

Digital transformation in real estate has made it easier for buyers to connect with sellers online and establish meaningful connections. Some of the benefits include:

1. Online 3D Tours

Technology allows global investors to get 3D views of the entire property, which gives the feel of a personal tour, all this at a single click and from anywhere in the world.

2. Real-Time Data

Real estate investors are no longer just looking at the price of a property. Factors such as return on investment, cash flow, and capitalization rate have become critical for investors to make informed decisions. To access such data in real-time, disruptive technologies provide all information at your fingertips. With growing accessibility to such data, the real estate industry has become more transparent and regulated.

3. Portal and Apps

The advent of real estate apps and portals have made it convenient for buyers to search for properties they like, instead of aimlessly driving around the neighborhood. Real estate portals powered by predictive analytics offer personalized and highly-customized data and are rapidly gaining popularity.

Technology in Real Estate in the Middle East

There are nearly 15,000 real estate offices in the Middle East, offering various types of properties, according to Global Real Estate Experts. In an article by Forbes, the UAE is leading the way to embrace digital transformation in the region, creating initiatives aimed at promoting innovation and driving the adoption of digital technologies in the real estate industry. More specifically, Dubai is working towards a strategy focused on blockchain technology to transform its real estate market and implement impactful tech reforms.

According to a plan shared by the Smart Dubai Office, blockchain technology is expected to be implemented for all government documents by 2020. This is a significant step for the real estate sector as most of its investors are seeking innovative ways. According to a study by HSBC, a whopping 72% of buyers in the UAE prefer using technology to gather information about the property, while 67% use technology to check the value of their home, and 64% look at prices of potential homes.

Saudi Arabia, not far behind in its quest to adopt technology in real estate, intends to build its own smart city called Neom. This smart city is part of the kingdom’s Vision 2030, a plan to lower the country’s dependence on oil, diversify its economy, and build public service sectors. Neom will incorporate various smart city technologies and also act as a tourist destination.

How Technology will Transform the Real Estate Industry

How Technology will Transform the Real Estate Industry

Blockchain

Blockchain technology has gained prominence in real estate because it helps lower the fees and processes associated with the industry. It reduces the intermediaries involved and streamlines processes for investors purchasing commercial real estate. This disruptive technology in real estate creates computer-based processes to eliminate paper title deeds, paper licenses, etc. for seamless cross-border transactions. Several companies in Dubai, such as ValuStrat, have integrated blockchain ledgers for the government to issue instant online title deed for properties. However, despite all these benefits, blockchain’s adoption rate seems rather unclear in the near future.

Augmented Reality and Virtual Reality

According to International Data Corporation, in Africa and the Middle East, the VR and AR technologies market is likely to increase from $181.59 million in 2017 to $6 billion in 2020. The use of VR is increasing as it allows visitors and investors to virtually check the properties regardless of their geographic location. The VR experience is not just limited to property touring. It also enables users to visualize any space with various customized design elements, thereby helping the interior design process. Dubai’s real estate giant Jumeirah Group is one of the many companies in the Arabian Gulf Region that are gradually embracing VR or 360 videos to provide virtual tours to buyers and promote their properties.

Smart Cities and Buildings

Smart buildings and cities are no longer a thing of the future. A smart building refers to a structure that deploys technology to automate operations such as lighting, security, and heating. Controlled partly by the Internet of Things (IoT) such technologies help boost efficiency and reduce energy waste. Technology giants like Google, Amazon, and Apple are aggressively investing in the concept of smart home technologies to transform the way people live.

IoT has also paved the way for the Smart City concept, which is being envisioned by the Kingdom of Saudi Arabia for Neom. The primary aim of smart cities is to enhance the quality of life using technology. A smart city integrates IoT solutions with information and communication technology to monitor its assets such as schools, water, libraries, waste management, etc. Technology in real estate can also help control parking, streetlights, and monitor air quality and noise.

3D Printing and Robotics

Construction technology, popularly known as ConTech, is revolutionizing the future of construction in real estate. Presently, construction is heavily dependent on manual processes to operate heavy machines. But companies like Komatsu have created unmanned bulldozers and drones to construct buildings and monitor the construction site.

Unmanned drones are capable of monitoring deliveries, inventory, and progress at the site and then create a 3D map of it. The information gathered by these drones is then used to instruct unmanned bulldozers to allot courses around the site. Construction technology in real estate removes worker safety issues, allowing robots to do manual work while humans focus on more strategic tasks. In 2018, HE Saif Bader Al Qubaisi, General Manager of Abu Dhabi City Municipality, launched the trial phase of using drones in engineering inspection of construction sites in Abu Dhabi.

Project Management Software

Several project management software solutions such as Re-Leased, ProofHub, Qube Project Manager are being deployed in real estate to assist in construction management. This is done to boost efficiency, clarity, and accountability of stakeholders involved in the project and aid in real-time conversations between them.

Chatbots

AI-driven chatbots are not new, with several industries leveraging them to enhance sales and marketing performance. Most of the real estate companies with an online presence have started using chatbots to help investors with standard information related to the property, along with pictures and videos without any human intervention. Since chatbots are 24×7 available, they provide support around the clock and assist buyers in filling contact forms even during odd hours of the day. Chatbots lower the overhead marketing and sales cost and results in higher conversion rates.

Property Management Software

Property management software is being implemented to monitor the performance and downtime of building equipment. This information is given to helpdesk support services and used by maintenance teams to carry out day to day tasks. Property management software tracks the asset’s performance to make the whole process efficient.

Final Thoughts

Technology in real-estate has slowly pervaded the industry, with advancements in nearly all sectors. The efficient adoption of relevant technologies can make or break companies in the future. While the pace at which it is being adopted differs hugely across different parts of the world, one thing is for sure, it will become indispensable in the coming years.

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Mobile Opinion

Customers Are Here To Stay: How AI can Boost Customer Lifetime Value

Retaining customers and building customer lifetime value is a crucial aspect to increase conversions. Digital disruption with the advent of Artificial Intelligence and Machine Learning has resulted in a unique challenge for marketers. Though it allows them to provide customers with experiences like never before, it also opens a myriad of options for consumers to choose from. This may have made customer retention a tricky task for organizations. After all, repeat purchases from existing customers is a sign of a healthy brand, since acquiring new customers can be expensive and may often impact the bottom line. While expanding the value and building lasting loyalty cannot be created overnight, disruptive technologies can help.

Let’s understand how organizations around the world are deploying cognitive technologies such as AI to create brand loyalty and adopt agile strategies using their existing data.

Current Scenario

Most organizations understand the importance of collecting data and do it through several digital marketing strategies. But analyzing and implementing this data still remains a distant dream. At best, companies analyze data in silos for a specific campaign. The result is that these organizations only influence a few touchpoints of the buyer’s journey while focusing on specific data related to online conversion rates. To combat this problem, businesses have slowly started embracing AI and ditching data processing through traditional methods.

Harnessing the Power of AI

There are several ways in which organizations can harness the power of AI to empower decision making. The low hanging fruits such as sales forecasting and cross-sell/up-sell can help companies showcase proof-of-concept while understanding how vital it is to change the company culture for it to be successful. A mindset shift is required if teams want to adopt agile strategies by acting on crucial insights and create longer customer lifetime value. Some of the ways that AI can be incorporated into effective decision making include:

Sales forecasting

Traditionally considered a nightmare by management teams, AI algorithms can predict revenues for the upcoming quarter with higher accuracy. This helps the sales team and leadership to take a data-driven decision and achieve operational excellence.

Cross-sell/up-sell

Cross-selling and or up-selling is the easiest way to increase marketing ROI. To determine which customer segments will have a bigger value, use AI to identify the clients that are likely to upgrade or broaden their purchases across various products/services.

Price optimization

AI-enabled campaigns can help you identify what type of promotions incite buyers to make a purchase.

Up the Ante on Digital Marketing

2019 is the year to up the game in terms of digital marketing. Customers are no longer going to just click targeted ads based on their demographic information. As such, several organizations have started using AI to detect how consumers are engaging with content across different touchpoints. It also identifies marketing messages that may boost audience engagement. These insights are instrumental in refining marketing campaigns and boost overall ROI.

By mapping out the factors that affect customer lifetime value, both marketing and sales teams can create customer loyalty and advocacy programs targeting their most valued customers. AI is no longer being used to only improve the value, it is also forcing marketers to use it as a major KPI metric. Since AI is vital to understand the impact of several aspects of customer behavior, it also helps the team fine-tune their strategies and make metric-driven decisions for improved user experience.

How AI Increases Customer Lifetime Value

How AI Increases Customer Lifetime Value

 

Create Personalised Experiences

AI’s ability to analyze data makes it possible for marketers to deliver personalized experiences to customers and make them feel special. Armed with insights from AI algorithms, teams can deliver relevant content that can further strengthen the relationship and build customer loyalty. Not so long ago, Netflix and Spotify started using AI-driven insights to provide recommendations to its customers, and today, all other brands are trying to provide the same level of personalized recommendations to its customers.

More Sales

AI can transform the way organizations engage customers with their products. By taking advantage of data, AI can be used to create a holistic and hyper-targeted approach that compels customers to purchase more. E-commerce giant, Amazon does a great job by suggesting other products, based on the historical preferences of the customer. As teams gain a deeper understanding of personal preferences, they can deliver tailor-made offers for their customers. In other words, AI equips organizations with tools to create trust and change short-term sales pitches into long-term loyalty.

Renew Faster

When customers are made to feel more valued and understood, they tend to stick around and become advocates of the brand. And as an AI-empowered marketer, the insights will predict what your customers might need next. By incentivizing longer-term commitments, businesses can grow their customer lifetime value at a fraction of the cost when acquiring a new customer.

Visual Search

Customers are gradually moving away from text-based search to more visual searches thanks to advances in AI image recognition and analysis. Platforms like Pinterest and technology such as Google Lens are making it possible for brands to improve merchandising and provide a personalized shopping experience. US retail giant Target’s partnership with Pinterest in 2017 shows their determination to integrate visual search in their e-commerce experience. The partnership allows users to take a picture of an item and find similar products on Target’s website.

Evangelize Eagerly

Implementing AI demands marketers to focus more on lifetime value. When this shift happens, customers see brands as an indispensable entity and start loving it. And with AI’s help in calculating lifetime customer value, organizations can determine the reward for their best customers.

Summary

Traditional marketing channels have considered all customers to be equal. But today, things have changed. Customers demand personalized experiences to make them feel special and build better brand affinity. For this purpose, organizations are embracing AI to make full use of their data, collected at various touchpoints of the customer’s journey. Primarily because not all metric-driven decisions make it easy for everyone to collaborate and create a customer-centric business model.

AI-driven marketing empowers teams to deliver better ROI (Return on Investment) from their marketing investment. It also helps businesses and companies make data-driven decisions and see what works for their brand and what doesn’t by forecasting sales, up-selling/cross-selling, and renewing clients’ contracts. Thereby, accelerating customers ‘ purchasing decisions and help organizations better tailor their content strategies.

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Mobile Opinion

Configuring iOS Builds – a step-by-step guide

Build configuration is a way of arranging, tweaking and changing the settings of a build using a build system. The configuration defines how a build generation process should work, what properties should be applied to the build and what all aspects should be taken care of. In our earlier article, we outlined how to configure Android builds. In this article, we will talk about why developers must configure iOS builds and how to do it. Read on.

Why configure?

  • There are various reasons to configure builds. A few of them are;
  • If a project requires to support multiple environments like DEV, QA, STAGING and PROD
  • If a project requires different build types (like debug and release)
  • If a project requires a way to modify dependencies without changing the application source code
  • If project requires to have builds automated
  • If a project has different API keys for different environments. This might be required for each library integrated within the application
  • If a project has a requirement not to commit keys and secrets it uses to source code management system
  • If a customer wants builds of different environments to co-exist in the device

These are only a handful. There might be other reasons too.

It’s recommended to store our keys and secrets securely. In a real application, we would either get these from our server or encrypt and store them using standard encryption techniques.

The fields shown here are for demonstration purposes only.

It’s also important not to commit secure configuration properties to SCM (Git/SVN), especially, if SCM is in a public repository.

Utilise techniques such as .gitignore to prevent these from being committed to SCM.

We can also have template config files with only keys (with values being empty) while committing. We can get these inserted to build systems before generating the builds.

How to Configure?

Before jumping onto see how to configure builds in iOS, let’s assume our requirements so that it will be easy for us to scope the discussion. Our assumptions are;

  • Our project has three different ENVs (environments) namely, dev (development), stg (staging) and prod (production)
  • We want to use different API URLs, keys and secrets for each ENVs
  • We want to use different bundle identifiers for each of the ENVs so that, builds with different ENVs can co-exist in a device
  • We want to use labelled app icons for dev and staging

Now that we know what all we have to do, let’s dive in to see how to do them.

Xcode provides fantastic support for configuring builds in iOS. It has a build settings pane where we can add/edit build settings, it has a scheme editor pane where we can create multiple schemes and it also provides special type of files with extension .xcconfig to support configuration supply to the build system.

Our application is called Places. It allows users to add and share details of the places they visit. Let’s start by adding three configuration settings files to our project.

Configuration settings files are provided in Xcode for specifying build settings. These files have an extension .xcconfig and are used to define and override build settings for a build configuration of a project or target.

More on these files can be found at https://help.apple.com/xcode/mac/current/#/dev745c5c974

In Xcode, goto menu File → New → File… (or press ⌘N). Locate Configuration Settings File and click Next.

Locate Configuration Settings File and click Next.

Name it dev.xcconfig. Leave Targets checkbox as is. Click on Create.

Name it dev.xcconfig. Leave Targets checkbox as is. Click on Create.

Repeat the above steps to add stg.xcconfig and prod.xcconfig files. These config files we just added are plain text files which can be edited even outside of Xcode. They are ideal for supplying build settings and other configurable properties to the build system without modifying the source code. Hence, if we have a requirement not to commit these config files to SCM, we can omit them.

Contents of these files are key-value pairs and they take the form Key = Value. Various value types are supported. A few of them are – boolean, string, string list, path and path list.

Now that we have added three files, they should look like as shown in below image.

Now that we have added three files, they should look like as shown in below image.

Our app development connects to our server to fetch places data which has three different ENVs namely dev, stg and prod. Hence, the base URLs are;

Dev: http://api.places.com/dev/ (Note the http scheme)
Stg: https://api.places.com/stg/
Prod: https://api.places.com/

Also, we would name our app bundle identifiers as;

Dev: com.places.ios.dev
Stg: com.places.ios.stg
Prod: com.places.ios

As you can see above, the base URLs and bundle identifiers have some components in common. URLs have same host components. Bundle identifiers have com.places.ios as common. Hence, instead of repeating these in all three files, we can have a common.xcconfig file and define them there. Later, we can include this file in all three files.

Add common.xcconfig by following previous steps. Now add the common properties in common.xcconfig so that it looks like below.

Add common.xcconfig by following previous steps.

Since our schemes differ for dev and other two configurations, we use a separate SCHEME field in the common.xcconfig and set it to https (imagine it as a default value).

Notice that we have also added BUNDLE_VERSION_STRING and BUILD_NUMBER fields to the common.xcconfig. Moving forward, we can change application version and build number directly from config file.

Now, let’s include these in other three files and add ENV specific properties. Our dev.xcconfig now looks like below.

#include "common.xcconfig"
 
SCHEME = http
 
// ENV specific
ENV_NAME = dev
 
// Bundle Id suffix
BUNDLE_ID_SUFFIX = .$(ENV_NAME)
 
// API path
API_PATH = $(ENV_NAME)/
 
// Analytics API key and secret
ANALYTICS_API_KEY = 783fa804f48d2952c22bf6653ce4474f
ANALYTICS_API_SECRET = f93754758b5b7f242f89b8d38223e836

#include statement in the first line imports build configurations from common.xcconfig file. Property ENV_NAME is assigned a value of dev so that, this can be substituted in other required places. Notice how we are substituting value of ENV_NAME property to BUNDLE_ID_SUFFIX and API_PATH properties using $() syntax. Later, we are going to construct complete base URL and bundle identifiers using these respectively. Last two lines represent API key and secret required by the analytics SDK we are planning to integrate. As we want to keep analytics specific to ENVs, we use different keys and secrets for dev, stg and prod. Similarly, if we have any other ENV specific properties, we can add them to respective .xcconfig files.

Below are the contents of stg.xcconfig file

#include "common.xcconfig"
 
// ENV specific
ENV_NAME = stg
 
// Bundle Id suffix
BUNDLE_ID_SUFFIX = .$(ENV_NAME)
 
// API path
API_PATH = $(ENV_NAME)/
 
// Analytics API key and secret
ANALYTICS_API_KEY = 8b383b32443c343d8e97ae2a2cbbb986
ANALYTICS_API_SECRET = e335d54b5043dcda6ee13a688a7539fc

and prod.xcconfig file.

#include "common.xcconfig"
 
// ENV specific
ENV_NAME =
 
// Bundle Id suffix
BUNDLE_ID_SUFFIX = 
 
// API path
API_PATH = 
 
// Analytics API key and secret
ANALYTICS_API_KEY = b76748fc63ede06d366f0e55cb447ded
ANALYTICS_API_SECRET = 78e6376ebbab8cf71c5cbc388e7f24cb

Notice in prod.xcconfig, we have omitted BUNDLE_ID_SUFFIX and API_PATH values, as they are not required (Remember, our prod URL is api.places.com/ and prod bundle id is com.places.ios, which are already mentioned in common.xcconfig). Also note that, we haven’t added SCHEME field in neither stg nor prod configs. They take the default value of https mentioned in common.xcconfig.

In case you have same schemes (say https) for all ENVs, we can construct the URL with scheme and host together in a single BASE_URL field like https://api.places.com/

However, there is a catch. Settings configuration files do not directly support URLs. If you try adding a full URL with scheme and host as above, substring that starts with // is treated as comment and when it’s read we will only see https:
Even wrapping them in double quotes does not work.

The solution is to use a dirty trick to reconstruct the URL as below.

BASE_URL = https:/$()/api.places.com/

The $() above substitutes the empty string in between forward slashes.

Now that we have added and filled our config files, let’s inform Xcode where to use them. Go to project navigator, click on your project file and in the editor area, select Places under PROJECT section as shown below.

Configurations

In the above image, under Info tab, notice the Configurations section marked as #3. It already contains Debug and Release as two default configurations (#4). Since we have three different ENVs, we would like to have Debug and Release configurations for each of the ENVs. Click on the + button below the Configuration section and select Duplicate “Debug” Configuration option. A new configuration named Debug copy will be created in an editable format .Change the name of the configuration to Debug(dev). Similarly, create one more copy of Debug and rename it to Debug(stg).

Repeat the same process to create two copies of Release configuration (by selecting Duplicate “Release” Configuration option) and name them Release(dev) and Release(stg). Now we have created Debug and Release configurations corresponding to dev and stg ENVs. Let’s keep the original Debug and Release configurations for prod. Once completed, they look like as shown in the image below.

 “Release” Configuration

Now, let’s link our .xcconfig files to these configurations we just created. Click on the small disclosure triangle placed left to Debug configuration. When it is disclosed, it shows a project file and a target below it. Click on the popup button in front of the project file and select prod from the options. Similarly, disclose Debug(dev) and choose dev from the popup in front. Repeat this for all the configurations so that the section looks like as shown in below image.

Config_set

In the above image, under each configuration, we have a project file icon and a target icon. It’s possible to have multiple targets under the one project. We are adding our settings configuration files at project level. This indicates, the target under that project also gets those settings.

By default, project level settings are carried over to targets belonging to the project. However, each target can override these settings if needed.

In case we are planning to use CocoaPods for our dependencies, then target specific .xcconfig files are added by CocoaPods automatically.

Let’s add Crashlytics to our project using CocoaPods. Close the Xcode project if it’s open already. Open a terminal window and cd to our projects base directory. Create a Podfile using command below (assuming our project directory is in user’s Desktop directory).

Vishnus-MacBook-Pro:~ vishnu$ cd ~/Desktop/Places
Vishnus-MacBook-Pro:Places vishnu$ vi Podfile

In the window that opens vi editor, enter character i so that vi goes into edit mode. Enter below code.

platform :ios, ‘10.0’

target ‘Places’ do
use_frameworks!

pod ‘Fabric’
pod ‘Crashlytics’
end

Press ESC key then : (colon). At the colon prompt that appears, enter wq keys to save and quit vi. Now do a pod install. Terminal looks as below.

Vishnus-MacBook-Pro:~ vishnu$ pod install
Analyzing dependencies
Downloading dependencies
Using Crashlytics (3.10.2)
Using Fabric (1.7.7)
Generating Pods project
Integrating client project
Sending stats
Pod installation complete! There are 2 dependencies from the Podfile and 2 total pods installed.
Vishnus-MacBook-Pro:Places vishnu$

Now go to the project base folder in the Finder and open Places.xcworkspace file by double clicking it. From now on, we’ll use Places.xcworkspace to open our project instead of Places.xcodeproj.

If you are configuring an existing project which already has CocoaPods integrated, just delete <ProjectName>.xcworkspace, Podfile.lock and Pods folder and redo a pod install. This will recreate pod specific .xcconfig files.

Now if we open our .xcworkspace file and check configurations section, pod specific .xcconfigs will be added for each target, as shown in below image.

.xcworkspace file and check configurations section

Now that we have our configurations ready, let;’s check where these are available for us as settings. Select project file in navigation area → select Places under TARGETS section → select Build Settings tab → scroll down to User-Defined section, as shown in the image below. All fields added in .xcconfig files will be available here.

select Places under TARGETS section → select Build Settings tab → scroll down to User-Defined section

We have added these as build settings. So, they will be available for the build system while building. But, we need to access some of these in code (ex: BASE_URL). For this, we’ll have to expose these to our Info.plist file, so that those fields can be available to us at runtime. Let’s add those fields to our Info.plist file by editing it (We can add new entries by going to Editor menu → Add Item or by Control click → Add Row).

After this, our Info.plist looks like as shown in the image below.

Editor menu → Add Item or by Control click → Add Row)

We have added BaseURL, APIKey and APISecret entries and substituted values from build configurations. Notice how values are constructed from components to make final values.

BaseURL has a value $(SCHEME)://${BASE_URL}$(API_PATH)
If we take dev.xcconfig values and replace above keys, we get http://api.places.com/dev/

Similarly, we have edited few existing keys to give new values from our .xcconfig files. We have modified Bundle identifier, Bundle name, Bundle version string, short and Bundle version so that we can control these from our configs.

Now that we have our Info.plist ready, let’s see how we can make it update based on the ENVs that we have. Also, let’s examine how to generate builds based on ENVs. Notice that, above we have modified our Info.plist to name our application based on ENV, that is, $(PRODUCT_NAME)$(BUNDLE_ID_SUFFIX) (Ex: Places.dev, Places.stg).

Select scheme menu at the top left corner of the Xcode toolbar and choose Manage Schemes… as shown in the image below.

Select_manage_schemes

In the window that opens, select Places row and click on gear icon below. Select Duplicate as shown below.

Select Duplicate

In the new panel that opens with editable name field, rename scheme to Places(Dev) and click Close button as shown below.

Rename scheme to Places(Dev) and click Close button

Repeat the above steps to create Places(Stg) scheme. When done, the list of schemes will be as shown in below image.

Scheme_list

Notice the Shared column with checkboxes in the image above. Make sure they are checked for all the schemes we added. If these are unchecked, the schemes will not be available to others, when you check-in your code.

Now, we need to define the build types for each of the tasks. Double-lick on the Places(Dev) row above to go to the edit scheme screen. For each of the tasks listed in left, change the build configuration to respective configuration, as shown in the example image below.

Edit_configs

Run → Info tab → Build Configuration → Select Debug(dev)
Test → Info tab → Build Configuration → Select Debug(dev)
Profile → Info tab → Build Configuration → Select Release(dev)
Analyze → Build Configuration → Select Debug(dev)
Archive → Build Configuration → Select Release(dev)
Repeat the above steps for Places(Stg) scheme as well.

Once the scheme editing is done, let’s see if things we have done till now are in place. Let’s try to access keys we have added in our Info.plist so that we can verify if we are getting expected values at runtime. Open ViewController.swift file and change viewDidLoad method to look like below.

override func viewDidLoad() {
    super.viewDidLoad()
    // Do any additional setup after loading the view, typically from a nib.
   
    print("Name: (Bundle.main.infoDictionary?["CFBundleName"]! ?? "")")
    print("Version: (Bundle.main.infoDictionary?["CFBundleShortVersionString"]! ?? "")")
    print("Build#: (Bundle.main.infoDictionary?["CFBundleVersion"]! ?? "")")
    print("Base URL: (Bundle.main.infoDictionary?["BaseURL"]! ?? "")")
    print("API Key: (Bundle.main.infoDictionary?["APIKey"]! ?? "")")
    print("API Secret: (Bundle.main.infoDictionary?["APISecret"]! ?? "")")
  }

Select Places(Dev) from the scheme menu and run the application. You will see logs like below in the console.

Name: Places.dev
Version: 0.1
Build#: 1
Base URL: http://api.places.com/dev/
API Key: 783fa804f48d2952c22bf6653ce4474f
API Secret: f93754758b5b7f242f89b8d38223e836

These output values correspond to the values we have configured for the dev.xcconfig file. Try selecting other schemes from scheme menu and observe the output. We can also observe that, once these schemes are run, three separate apps co-existing in the device/simulator.

Apps_homescreen

Those icons are default and not looking great. Let’s see how we can add scheme specific icons now.

Open Assets.xcassets folder in Xcode sidebar and click on AppIcon and drag & drop all the icons for prod scheme as shown below.

Prod_icons

To add dev and stg icons, create a new iOS App Icon set, by clicking + button below, select App Icons & launch Images → New iOS App Icon. Rename it to AppIcon-dev as shown in below image. Add all icons. Repeat the above steps to create AppIcon-stg app icon set as well.

App_iconset

Finally, let Xcode know which app icon set to use for each build. Open target settings → select Build Settings tab, search for AppIcon. In the Asset Catalog App Icon Set Name settings, edit the app icon set names for respective configurations as shown below.

Set_icons

Build and run all the schemes to see three separate apps installed on the device/simulator with respective icons (Preview app in OS X can be used to add labels on the icons).

(Preview app in OS X can be used to add labels on the icons).

One last thing related to configuration. Sometimes, we might need to include bespoke files based on environments in the build. One such example is GoogleService-Info.plist file which we download from google console and include in the project, for google API services. In case we need to maintain separate GoogleService-Info.plist file, one per environment, then we can achieve this by creating a custom run script build phase in Xcode.

Start by creating three folders inside your project target directory namely dev, stg and prod. Copy respective GoogleService-Info.plist files downloaded from Firebase to respective directories created.

Google_services_plist

In Xcode, go to project target, select Build Phases tab and click on the + button, select New Run Script Phase as shown below. Rename the run script phase to Copy GoogleService-Info.plist.

New_run_script

Expand the disclosure triangle to edit the run script phase. In the script editor area, add the script to copy respective GoogleService-Info.plist file to the app bundle as shown below.

Copy_script

Below is the script to copy file.

# Name of the file we're copying
GOOGLESERVICE_INFO_PLIST="GoogleService-Info.plist"
 
# Reference to the destination location for the GoogleService-Info.plist
PLIST_DESTINATION=${BUILT_PRODUCTS_DIR}/${PRODUCT_NAME}.app
 
# Target directory of our project
TARGET_ROOT=${PROJECT_DIR}/${TARGET_NAME}
 
# Check and copy files
if [ "${ENV_NAME}" == "dev" ]
then
 
    SOURCE_FILE_PATH="${TARGET_ROOT}/dev/${GOOGLESERVICE_INFO_PLIST}"
    echo "Source: $SOURCE_FILE_PATH"
 
    if [ ! -f $SOURCE_FILE_PATH ]
    then
        echo "No Development GoogleService-Info.plist found. Aborting!"
        exit 1
    else
        echo "Copying GoogleService-Info.plist from dev directory"
        cp "${SOURCE_FILE_PATH}" "${PLIST_DESTINATION}"
    fi
 
elif [ "${ENV_NAME}" == "stg" ]
then
 
    SOURCE_FILE_PATH="${TARGET_ROOT}/stg/${GOOGLESERVICE_INFO_PLIST}"
    echo "Source: $SOURCE_FILE_PATH"
 
    if [ ! -f $SOURCE_FILE_PATH ]
    then
        echo "No Staging GoogleService-Info.plist found. Aborting!"
        exit 1
    else
        echo "Copying GoogleService-Info.plist from stg directory"
        cp "${SOURCE_FILE_PATH}" "${PLIST_DESTINATION}"
    fi
 
else
    SOURCE_FILE_PATH="${TARGET_ROOT}/prod/${GOOGLESERVICE_INFO_PLIST}"
    echo "Source: $SOURCE_FILE_PATH"
 
    if [ ! -f $SOURCE_FILE_PATH ]
    then
        echo "No Production GoogleService-Info.plist found. Aborting!"
        exit 1
    else
        echo "Copying GoogleService-Info.plist from prod directory"
        cp "${SOURCE_FILE_PATH}" "${PLIST_DESTINATION}"
    fi
fi

This article was in continuation of – Configuring Android Builds – a Step-by-Step Guide.

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Mobile Opinion

Gig Economy and the Impact of Technology on Vendor Management Systems

The gig economy is going global. In the US, estimates show that more than one-third of the people work as freelancers. Asia leads the freelancer market globally and is still growing.

There are several factors that have led to the growth of the freelance economy over the years.

  • There is a growing number of Gen-Z into the workforce and for them having a flexible schedule is important, hence they choose to work independently over a regular day’s job.
  • By 2020, millennials will be largest workforce in the global economy. They are very clear and specific with what they want from their employers, and freelancing gives them the opportunity to work with a wide spectrum of organizations.
  • The rising cost of living is another major reason for the growth of freelancers. People are working on multiple short-term projects including their day-job to augment their income. According to a survey, 4 out of 10 people have a side job to supplement their current income.
  • Beyond all the above examples, technological advancement remains one of the major reasons why the freelancer economy is growing. Cloud has opened up innumerable opportunities with the scope of accessing data anywhere, with a decent internet connection. This fact has helped enterprises hire freelance workers with specialized skills on a short-term basis.

The Growing Freelancer Economy

With the rise of a generation that demands flexible timings and looking to supplement their earning potential, the freelancer economy is growing and a number of people are becoming comfortable with it. According to a report:

  • 72% have the amount (or more) of work that they want
  • 92% expect work opportunities for freelancers to increase in the future
  • 90% believe the best days are ahead for freelancing

There are ample opportunities in freelance work, where gig workers can earn substantially. The report mentioned above also found that 82% of freelancers have earned more when compared to others, with similar experiences or work.

Owing to the popularity of this trend, even enterprises are cashing in on this huge pool of talent from multiple domains and skillsets – marketers, designers, developers, recruiters, and many more. Almost every skillset an enterprise requires can be found in freelancer marketplaces such as Upwork or Yoss.

Enterprises of Every Scale are Choosing Freelancers

According to a recent survey, business leaders expect to achieve a 66:34 split between permanent and temporary workers by 2023. Some of the biggest enterprises like Bloomberg, Conde Nast, and even Facebook employ freelancers for multiple projects.

Facebook engages freelancers for a number of purposes such as content writing, checking technical bugs, advertisements, etc. Conde Nast has a team of freelancers for an array of jobs such as beauty closet freelancers, bookings assistant, magazine photo assistant, and photo producer. It often uses freelance writers for filling up editorial spaces in many of its publications. Similarly, Walmart employs freelancers to execute jobs like digital content designers, pricing analysts, and temporary bilingual specialists.

There are various reasons why enterprises of every scale are choosing to work with freelancers. Some of these are:

  • Increasing adoption of new technologies that allow for greater workplace flexibility such as collaboration tools and offer businesses a more flexible approach to how they manage key project initiatives and workload fluctuations
  • Difficulty in acquiring specific skills on a permanent basis owing to the worldwide war for talent
  • Ever-evolving complexity and dynamic nature of traditional job roles.

Challenges of Working With a Contingent Workforce

While there are numerous benefits of having a contingent workforce, it also comes with its set of challenges to manage them. Some of these are-

Challenges of Working With a Contingent Workforce

 

  • Compliance risk – Not always will an enterprise find a freelancer who may match its standards and work according to compliance practices. It is important to choose a vendor who meets the requirements of an organization in terms of both compliance and performance.
  • Quality risk – It is difficult to gauge the delivery quality of a vendor beforehand and check if references and work samples provided are authentic. It can also become tedious to do background checks for every vendor while working with multiple of them.
  • Limited visibility in a multiple vendor set up – While engaging multiple vendors it becomes extremely difficult to manage the data of each one of them. It is important to have a centralized data storage solution for managing vendor data, and also manage & allocate resources efficiently.
  • Data management – While it is really important to have a consolidated storage solution for managing vendor data, this also benefits the organization from a centralized view and enhanced visibility that can lead to better resource allocation and improved efficiency.
  • The complexity of data storage – Depending on the number of vendors it can become extremely complex to store, retrieve and manage data from multiple vendors on multiple projects.
  • Complexity in vendor payments – Managing vendor payments is extremely important. While working with multiple vendors it is essential to adhere to different payment terms in reference to the vendor data and ensure timely payments, which can become tedious without an automated platform.

Benefits of Deploying a Vendor Management System (VMS)

Vendor management can empower enterprises in controlling costs, reducing risks source and manage & deliver value from the contingent workforce. Some of the benefits of employing vendor management systems are –

Benefits of Deploying a Vendor Management System (VMS)

 

  • Efficient Selection of Vendors – The right vendor management system can provide your, organization with a large selection of vendors, and ensure that you can choose the correct vendor in the given budgets.
  • Efficient Contract Management – Managing a multiple vendor scenario requires managing multiple documentations, contracts, compliance management, etc. A vendor management system can provide a centralized view of all contracts and other useful information, thereby helping in efficient vendor management and enable you to achieve better decision-making capabilities to save valuable time.
  • Better Vendor Performance Management – Implementing a vendor management system can provide your enterprise with an integrated view of the performance of all vendors. It also helps to gather timely intelligence about all the operations and take timely actions, ultimately leading to improved efficiency that in turn enhances the organization’s overall performance.
  • Better Vendor Relationship – Managing multiple vendors can be an uphill task in the lack of an automated platform. A vendor management system can help your organization easily manage, pay and maintain a long-term relationship with all your vendors.

Technologies Augmenting VMS Platforms

As the technology landscape evolves, legacy VMS platforms are evolving too by adopting new-age technologies. The ones reshaping the industry are –

  • Machine Learning and Artificial Intelligence

ML and AI technology can also help choose the right vendor and assign the right work model, based selected vendor’s work history and also manage legal compliance. ML and AI can also help in building customized dashboards to manage and view vendor data as required.

  • Mobile Device Platforms and Apps

Mobile platforms can help in managing multiple vendors on-the-go. Vendors and managers can engage with the VMS anytime and from anywhere and log-in relevant information, status, etc. Mobile can help in offering a great user experience to vendors and managers.

  • Predictive Analytics

With the increase in data volume and data capture fields, technologies like predictive analytics are helping track and measure past behavior and provide predictive analytics on market trends. Besides, it can also help manage vendor data and drive insights from the data.

One example of how predictive analytics augments vendor management is IQN’s cognitive intelligence engine, named ATOM (Automated Talent Ontology Machine). This harnesses predictive analytics to provide real-time recommendations on rates, time-to-fill, labor demand modeling and industry benchmarking

The Future of Vendor Management System

With various forms of freelancer work-force evolving – be it individual or through a staffing firm – the VMS platforms will assist to compare, vet, select and onboard different types of third-party talent side-by-side through integrated systems. The VMS of the future will be about sourcing, provisioning and managing all forms of non-employee talent.

With the rise of the contingent workforce an organization uses, a VMS will need to provide a more secure and efficient platform for risk management. In this scenario, there is an opportunity for the evolution of a blockchain-like architecture ultimately be used to manage this sort of information, tied to a platform-as-a-service (PaaS) model for sharing across diverse VMS and services procurement systems.

Also, technologies like AI/ML, etc. will help to create VMS platforms that not just help organizations with vendor intelligence but business and market intelligence as well. Giving information beyond labor rate intelligence.

As the contingent workforce and employees work side-by-side for enterprises, VMS platforms will help talent teams bridge the gap between managing both and tap into & manage workers with specialized skills and drive value to the businesses.

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Mobile Opinion

Configuring Android Builds – a step-by-step guide

Build configuration is a way of arranging, tweaking and changing the settings of a build using a build system. The configuration defines how a build generation process should work, what properties should be applied to the build and what all aspects should be taken care of.

In this article, we will outline why developers must configure builds and how to do it. Read on.

Why configure?

There are various reasons to configure builds. A few of them are;

  • If a project requires to support multiple environments like DEV, QA, STAGING and PROD
  • If a project requires different build types (like debug and release)
  • If a project requires a way to modify dependencies without changing the application source code
  • If project requires to have builds automated
  • If a project has different API keys for different environments. This might be required for each library integrated within the application
  • If a project has a requirement not to commit keys and secrets it uses to source code management system
  • If a customer wants builds of different environments to co-exist in the device
  • These are only a handful. There might be other reasons too.

It’s recommended to store our keys and secrets securely. In a real application, we would either get these from our server or encrypt and store them using standard encryption techniques.

The fields shown here are for demonstration purpose only.

It’s also important not to commit secure configuration properties to SCM (Git/SVN), especially, if SCM is in a public repository.

Utilise techniques such as .gitignore to prevent these from being committed to SCM.

We can also have template config files with only keys (with values being empty) while committing. We can get these inserted to build systems before generating the builds.

How to Configure?

Before jumping onto see how to configure builds in Android, let’s assume our requirements so that it will be easy for us to scope the discussion. Our assumptions are;

  • Our project to have three different ENVs (environments) namely, dev (development), stg (staging) and prod (production)
  • We want to use different API URLs, keys and secrets for each ENVs
  • We want to use different application IDs for each of the ENVs so that, builds with different ENVs can co-exist in a device
  • We want to use labelled app icons for dev and staging

Now that we know what all we have to do, let’s dive in to see how to do them.

Android Studio uses Gradle as the default build system. Gradle allows us to configure builds using build.gradle file entries, where we can define multiple build types, add product flavours and come up with build variants.

For the purpose of this article, let’s assume an application called Places. It allows users to add and share details of the places they visit. Let’s see how we can setup three different environments of our app.

Gradle scripts (build.gradle files) in Android Studio are written in a Domain Specific Language (DSL) called Groovy. It allows us to read external files from within the script so that we can separate out our configurable properties.

More on groovy can be found at http://groovy-lang.org/

We can achieve external configurations read in various ways in Android. We can store different environment properties in xml files, which are placed in respective flavour directories. Or we can create different .properties files and read the configurations from them during build. Or we can directly add them in build.gradle. However, as we want to secure our properties by keeping them in separate files, let’s go with creating .properties files.

This article walks through the configuration steps on a Mac OS. Same steps hold good for Windows and Linux systems too.

Create a new directory named config in the project root directory.

Create a new directory named config in the project root directory.

Create three files namely dev.properties, stg.properties and prod.properties in the config directory created as shown in the image below.

config directory

These config files we just added are plain text files which can be edited using any text editor. They are ideal for supplying build settings and other configurable properties to the Gradle build system without modifying the source code. Hence, if we have a requirement not to commit these config files to SCM, we can omit them.

Contents of these files are key-value pairs and they take the form Key = Value. Various value types are supported. A few of them are – boolean, string, number.

Our app connects to our server to fetch places data which has three different ENVs namely dev, stg and prod. Hence, the base URLs are;

Dev: http://api.places.com/dev/ (Note the http scheme)
Stg: https://api.places.com/stg/
Prod: https://api.places.com/

Also, we would name our app bundle identifiers as;

Dev: com.places.android.dev
Stg: com.places.android.stg
Prod: com.places.android

Notice that we have also added VERSION_CODE and VERSION_NAME fields to the .properties files. Moving forward, we can change application version number and version string directly from these .properties files.

Our dev.properties now looks like below.

# Bundle Id
APPLICATION_ID = "com.places.android.dev"
 
# Bundle versions string, short
VERSION_CODE = "1"
VERSION_NAME = "0.1"
 
# Base URL
BASE_URL = "http://api.places.com/dev/"
 
# Analytics API key and secret
ANALYTICS_API_KEY = "783fa804f48d2952c22bf6653ce4474f"
ANALYTICS_API_SECRET = "f93754758b5b7f242f89b8d38223e836"

Last two lines represent API key and secret required by the analytics SDK we are planning to integrate. As we want to keep analytics specific to ENVs, we use different keys and secrets for dev, stg and prod. Similarly, if we have any other ENV specific properties, we can add them to respective .properties files.

Below are the contents of stg.properties file

# Bundle Id
APPLICATION_ID = "com.places.android.stg"
 
# Bundle versions string, short
VERSION_CODE = "1"
VERSION_NAME = "0.1"
 
# Base URL
BASE_URL = "https://api.places.com/stg/"
 
# Analytics API key and secret
ANALYTICS_API_KEY = "8b383b32443c343d8e97ae2a2cbbb986"
ANALYTICS_API_SECRET = "e335d54b5043dcda6ee13a688a7539fc"

and prod.properties file.

# Bundle Id
APPLICATION_ID = "com.places.android"
 
# Bundle versions string, short
VERSION_CODE = "1"
VERSION_NAME = "0.1"
 
# Base URL
BASE_URL = "https://api.places.com/"
 
# Analytics API key and secret
ANALYTICS_API_KEY = "b76748fc63ede06d366f0e55cb447ded"
ANALYTICS_API_SECRET = "78e6376ebbab8cf71c5cbc388e7f24cb"

Note that, url schemes of BASE_URL for stg and prod are https.

Notice the key-value pairs added in the above files. They are all mentioned as strings within quotes. We are doing it purposely as we are reading them from within gradle files. More on this later.

Now that we have added and filled our config files, let’s inform Gradle where to use them. The idea is to read these configuration files based on the need and assign properties to build configuration so that, they can be read in our code. Some of the properties like APPLICATION_ID, VERSION_CODE and VERSION_NAME can also be substituted in our build.gradle file at build time.

Let’s open our project level build.gradle file in Android Studio and add an ext (ExtraPropertiesExtension) entry in it like below.

ext {
   // Get the current flavor of the build Ex: dev, stg, prod
   flavor = getCurrentFlavor()
   if (flavor.isEmpty()) {
       flavor = "dev"
   }
 
   // Read the .properties for config
   config = getProps('config/' + flavor + '.properties')
}

We are doing two things in above code block. First, identifying the current build flavor (ex: dev, stg or prod). Second, read the corresponding .properties file located in the config directory. That is, if the current build flavor is dev, read dev.properties file and save it in config variable.

We haven’t created build flavors yet. We’ll get to it moving on.

We also have two methods being called in the above code getCurrentFlavor() and getProps(). Let’s check what they look like.

def getCurrentFlavor() {
   Gradle gradle = getGradle()
 
   // match optional modules followed by the task
   // [a-z]+([A-Za-z]+) will capture the flavor part of the task name onward (e.g., assembleDevRelease --> Dev)
   def pattern = Pattern.compile("([A-Z][A-Za-z]+)(Release|Debug)")
   def flavor = ""
 
   gradle.getStartParameter().getTaskNames().any { name ->
       Matcher matcher = pattern.matcher(name)
       if (matcher.find()) {
           flavor = matcher.group(1).toLowerCase()
           return true
       }
   }
 
   return flavor
}

The above method extracts the flavor name from one of the gradle tasks and returns. It uses a regex to do this job.

def getProps(path) {
   Properties props = new Properties()
   props.load(new FileInputStream(file(path)))
   return props
}

getProps() reads a properties file from given path and returns its contents.

The complete project level build.gradle is given below. Notice the import statements for Matcher and Pattern classes utilised in our custom methods.

import java.util.regex.Matcher
import java.util.regex.Pattern
 
// Top-level build file where you can add configuration options common to all sub-projects/modules.
 
buildscript {
   ext.kotlin_version = '1.3.11'
   repositories {
       google()
       jcenter()
      
   }
   dependencies {
       classpath 'com.android.tools.build:gradle:3.3.0'
       classpath "org.jetbrains.kotlin:kotlin-gradle-plugin:$kotlin_version"
       // NOTE: Do not place your application dependencies here; they belong
       // in the individual module build.gradle files
   }
}
 
allprojects {
   repositories {
       google()
       jcenter()
      
   }
}
 
ext {
   // Get the current flavor of the build Ex: dev, stg, prod
   flavor = getCurrentFlavor()
   if (flavor.isEmpty()) {
       flavor = "dev"
   }
 
   // Read the .properties for config
   config = getProps('config/' + flavor + '.properties')
}
 
def getProps(path) {
   Properties props = new Properties()
   props.load(new FileInputStream(file(path)))
   return props
}
 
def getCurrentFlavor() {
   Gradle gradle = getGradle()
 
   // match optional modules followed by the task
   // [a-z]+([A-Za-z]+) will capture the flavor part of the task name onward (e.g., assembleDevRelease --> Dev)
   def pattern = Pattern.compile("([A-Z][A-Za-z]+)(Release|Debug)")
   def flavor = ""
 
   gradle.getStartParameter().getTaskNames().any { name ->
       Matcher matcher = pattern.matcher(name)
       if (matcher.find()) {
           flavor = matcher.group(1).toLowerCase()
           return true
       }
   }
 
   return flavor
}
 
task clean(type: Delete) {
   delete rootProject.buildDir
}

Let’s open the app (module) level build.gradle and see how we can substitute the properties read earlier.

Let’s open the app (module) level build.gradle

Under the android block, add flavorDimensions and productFlavors properties. Here we are specifying our build flavors to contain three flavors. Notice the flavor names and our .properties file names match. This helped us earlier in the project level build.gradle to read .properties files dynamically.

def envConfig
flavorDimensions "default"
productFlavors {
   dev {
       envConfig = getProps("../config/dev.properties")
       applicationId envConfig.getProperty("APPLICATION_ID").replace(""", "")
       versionCode envConfig.VERSION_CODE.replace(""", "").toInteger()
       versionName envConfig.VERSION_NAME.replace(""", "")
   }
   stg {
       envConfig = getProps("../config/stg.properties")
       applicationId envConfig.getProperty("APPLICATION_ID").replace(""", "")
       versionCode envConfig.VERSION_CODE.replace(""", "").toInteger()
       versionName envConfig.VERSION_NAME.replace(""", "")
   }
   prod {
       envConfig = getProps("../config/prod.properties")
       applicationId envConfig.getProperty("APPLICATION_ID").replace(""", "")
       versionCode envConfig.VERSION_CODE.replace(""", "").toInteger()
       versionName envConfig.VERSION_NAME.replace(""", "")
   }
}

We are also reading .properties file in respective flavor and assign the values to applicationId, versionCode, and versionName fields. Let’s examine the above lines a bit. We are substituting applicationId using envConfig.APPLICATION_ID.replace(“””, “”). Here we are using the app id specified in the respective config file. All our config property values are specified as string within double quotes. Gradle generates BuildConfig.java file on the fly while building and uses the values specified in the substitutions. Hence, we make sure to strip double quotes using replace(“””, “”).

versionCode is an integer and is substituted with value of VERSION_CODE by converting the string value to integer.

Change the properties under defaultConfig block as shown below.

defaultConfig {
   minSdkVersion 21
   targetSdkVersion 28
   testInstrumentationRunner "android.support.test.runner.AndroidJUnitRunner"
 
   // Add config properties as build configs
   rootProject.ext.config.each { p ->
       if (p.key != 'VERSION_CODE' && p.key != 'VERSION_NAME' && p.key != 'APPLICATION_ID') {
           buildConfigField 'String', p.key, p.value
       }
   }
}

In the end of the code block, we iterate over the config key-value pairs read from properties file and add each of them as build config fields. The if condition there prevents us from adding duplicate entries into BuildConfig.java, as versionCode, versionName and applicationId are already part of build.gradle.

Now that our configs are added as build configs, let’s see how we can access them in code. Open MainActivity.kt file and add below lines in onCreate method.

override fun onCreate(savedInstanceState: Bundle?) {
   super.onCreate(savedInstanceState)
   setContentView(R.layout.activity_main)
   setSupportActionBar(toolbar)
 
   Log.d("VersionCode ", BuildConfig.VERSION_CODE.toString())
   Log.d("VersionName ", BuildConfig.VERSION_NAME)
   Log.d("Base URL ", BuildConfig.BASE_URL)
   Log.d("API Key ", BuildConfig.ANALYTICS_API_KEY)
   Log.d("API Secret ", BuildConfig.ANALYTICS_API_SECRET)
}

Select Build Variants tab from side bar and select devDebug as the variant as shown in the image below.

Build_variants

Run the app to see the logs as shown below.

2019-01-23 23:29:43.829 2245-2245/com.places.android.dev D/VersionCode:: 1
2019-01-23 23:29:43.829 2245-2245/com.places.android.dev D/VersionName:: 0.1
2019-01-23 23:29:43.832 2245-2245/com.places.android.dev D/Base URL:: http://api.places.com/dev/
2019-01-23 23:29:43.832 2245-2245/com.places.android.dev D/API Key:: 783fa804f48d2952c22bf6653ce4474f
2019-01-23 23:29:43.832 2245-2245/com.places.android.dev D/API Secret:: f93754758b5b7f242f89b8d38223e836

These output values correspond to the values we have configured for the dev.properties file. Try selecting other variants from Build Variant menu and observe the output. We can also observe that, once these builds are run, three separate apps co-existing in the device/emulator.

Build Variant menu and observe the output

Observe the icons and app names. They are exactly the same. As we have different application IDs for each of the flavors, we see three installed apps. Let’s address the app name next.

Let’s name our app based on the flavor. That is, Places(Dev), Places(Stg) and Places for dev, stg, and prod flavors respectively. This can be done in various ways.

By default in Android, the app name is specified as a string resource in AndroidManifest.xml file like android:label=”@string/app_name” under application tag. Here, the resource app_name is actually defined in the localizable string resource file named strings.xml, under res/values directory.

Renaming App – Method 1

In this method, we can create flavor specific directories under app/src directory and place res/values/strings.xml file under each of them. Each strings.xml file has an app_name value defined as shown in below image.

strings_xml

In this case, there will be four strings.xml files. Three from flavor specific directories and one under main/res/values/ directory. While building, strings.xml in current flavor directory is given the first preference and next main/res/values/strings.xml will be treated. In the process, duplicates will be eliminated by keeping those coming from strings.xml under current flavor directory and discarding the same resources from main/res/values/strings.xml.

Renaming App – Method 2

In this method, we can specify the app name as a string resource in app level build.gradle file. We do this in the productFlavors block we defined earlier as shown below.

productFlavors {
   dev {
       resValue "string", "app_name", "Places(Dev)"
   }
   stg {
       resValue "string", "app_name", "Places(Stg)"
   }
   prod {
       resValue "string", "app_name", "Places"
   }
}

Note, however that, duplicate resource names cause a build failure in this method. We have to make sure to remove the duplicate entry of app_name from main/res/values/strings.xml file.

This method is convenient if we don’t need a way to change the app name externally, via a config (.properties) file.

Renaming App – Method 3

In this method, we specify the app name in our flavor specific config (.properties) files so that we can handle name change without changing the code. This is the approach we proceed with in this article.

Add a new property called APP_NAME in dev.properties, stg.properties and prod.properties files, as shown below.

For dev,

# App name
APP_NAME = "Places(Dev)"

For stg,

# App name
APP_NAME = "Places(Stg)"

For prod,

# App name
APP_NAME = "Places"

In app level build.gradle file let’s read this value and add it as a string resource dynamically as shown below. We just modify config iteration block within defaultConfig by checking for APP_NAME key and adding it as a string resource, if found.

// Add config properties as build configs
rootProject.ext.config.each { p ->
   if (p.key == 'APP_NAME') {
       resValue 'string', p.key.toLowerCase(), p.value.replace(""", "")
   }
   else if (p.key != 'VERSION_CODE' && p.key != 'VERSION_NAME' && p.key != 'APPLICATION_ID') {
       buildConfigField 'String', p.key, p.value
   }
}

Notice the resValue syntax for adding a string resource.

resValue ‘string’, p.key.toLowerCase(), p.value

The type should be string and NOT String. We are also converting key to lower case to make it app_name to keep consistency in the naming in resource xmls.

Also, duplicate resource names cause a build failure in this method as well. We have to make sure to remove the duplicate entry of app_name from main/res/values/strings.xml file.

After following one of the three methods mentioned above, if we now run all the flavors, below is how it would look like.

App_icons

Now, let’s see how we can provide separate icons for each of the flavors.

When we define flavors in build.gradle, the build system searches for resources in the flavor specific directories first. If flavor directories are not found, then the search happens in main directory under app/src. Let’s start by creating flavor specific directories in side app/src directory as shown in below image.

Flavor_dir

Flavors_project

As we are interested in adding icons, let’s create a res directory under each flavor directory containing different dimension directories within as shown below. Each of the dimension directories, in-turn contain respective icon files.

Flavored_icons

Next, delete mipmap-xxxx directories under src/main/res directory, as we already provided icons in specific flavor directories. Change android:icon and android:roundIcon properties in AndroidManifest.xml file as shown below.

 <application
       android:icon="@mipmap/icon"
       android:roundIcon="@mipmap/icon_round"

Note that, icon file names specified in AndroidManifest.xml should match the actual icon files added in mipmap directories.

Build and run the application with all variants one by one. The respective apps now will have flavored icons as shown below.

Final_icons

We can also include other bespoke resources required within flavor specific directories, if these resources require to be different per flavor. One such example is the google-services.json file we require to integrate google APIs into our app development. If we happen to maintain separate google-services.json file per configuration, we can keep them in these flavor directories and at build time, these will be referenced automatically based on the build variant selected for build.

In this article, we spoke about Build Configurations for Android, in the next article of this series, we will talk about creating Build Configurations for iOS. Stay tuned.

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Mobile Opinion

Everything You Need to Know About Smart Home Automation Technologies

What Is Smart Home Technology?

Did you remember to turn off all your house lights in the morning, adjust your thermostat, or arm your security system before you left for work or on an extended trip? Smart home technology today enables users to manage these small but significant tasks to reduce the stress and costs associated with these household necessities.

“Smart home” is an umbrella term for the automation, digitization and interconnection of household tasks that can be set up automatically and controlled remotely, thereby making our daily lives more efficient. The United States alone will see over 42 million smart home devices installed by end of 2019. Globally, experts predict the home automation market will reach $21.6 billion by 2020 and upwards of $53.5 billion by 2022.

Smart Home Automation Technologies

Smart home technology as we know it began with the invention of the thermostat; today’s uses include home security, energy use monitoring, remote elderly or disability care, appliance and lighting control, and many more. The Internet of Things, or IoT, is the connecting of devices to the Internet (home appliances, thermostats, vehicles); tech like voice assistants and AI also form a part of home automation. According to ADT, a leading home & business security provider, nearly 4 in 5 smart home device owners preferred to control their device through voice command.  In this post, we cover technologies that are fuelling the growth of home automation, the security concerns associated with these innovations, and a few notes on the future of home automation.

Recent Innovations in Smart Home Technology

In the past, home automation technology varied from country to country, but advances in industry standards have enabled manufacturers to focus their efforts in improving the connectivity through mesh networking. Current major players include Google (Nest), Alexa, Apple (HomeKit), Amazon (Echo), Belkin, Wink, Logitech and Honeywell. Smart speakers are the second most common type of smart devices in home (with Smart TVs being the most popular) with wireless audio gaining in popularity.

Throughout most of 2017, home automation applications revolved primarily around security and thermostat control. In 2018, however, these devices were actually speaking to each other, connecting users to their homes and devices through a platform-focused approach. We saw data and analytics give homeowners a more comprehensive understanding of household operating expenses, and remote access gave them control over how effective those devices were practically helping them live simpler lives.

One of the recent innovations in smart home tech, WooHoo is a central hub for controlling all IoT devices in your home. This wifi-enabled device uses a 360-degree camera to detect which household member is speaking, using both voice- and facial-recognition software to learn the commands and preferences of each member. “If you’re in a smart car and you’re coming home,” explains Joseph Santos, Chief Digital and Marketing Officer at Smart Beings, “it will interact with your vehicle and know that someone is coming home, so it will turn on the thermostat, turn on the lights.”

Smart Home Automation Tech

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Reactive Technologies uses smart meters and IoT devices (smart grid technology) to merge the telecommunications and energy sectors to better manage energy consumption for its users across specific regions. Through a recent project in France, Reactive is changing the “energy consumption of fridges and freezers in hundreds of retail locations, making adjustments throughout the day to free up energy when energy demand is high.”

While these changes don’t make a huge impact per household, smart home devices can collectively help reduce energy consumption and not only cut costs per household but also ensure that energy is better distributed to reduce both shortages and overages in the long run.

Security and Privacy Concerns

Convenience in the Digital Age has prompted us to share our digital footprint with a number of companies, which they use to create and market products they think we’ll use. With the advent of smart home technology, users are also sharing their physical footprint, both at home and while away. “It is not a matter of if but when these systems will be compromised, and the consequences could be much more severe than lost social security numbers,” shares Dimitri Stiliadis of Aporeto. “Addressing security and privacy will become a fundamental concern that will shape this industry.”

For example, many people leave their lights on while they’re traveling in the interest of deterring would-be burglars. Security concerns that can be addressed with something as simple as a lighting system app that allows you to remotely access your lights with a variety of controls while away offers the peace of mind needed to enjoy a vacation.

Homeowners may also be concerned that their home could be vulnerable to a hack or break-ins, such as having their home security apps fail, being robbed, or having their passwords leaked. For others, they’re concerned “about the privacy implications of living and working among so many Internet-connected cameras and microphones.” Some experts are also worried that IoT is “a security nightmare” because many technology companies don’t possess the technical and practical expertise required to ensure their consumers’ data is protected at a high level.

As with anything technology-related that handles consumers’ personal information, companies in the smart home space must prioritize privacy and security strategies to minimize the risks involved when these situations arise.

The Future of Home Automation

The latest home automation devices not only use wifi but also AI, “the ability to learn patterns, recognize faces and voices”, to gather and learn about the user and what their preferences are. The smart home tech that harnesses the power of voice control through your phone, television, and car is becoming more ubiquitous; companies that prioritize devices that can seamlessly integrate with smart home features and apps will see a distinctive edge in the marketplace.

Devices sharing homeowners’ data with businesses will be the next big thing…imagine having your refrigerator order your groceries for you because it already knows what items you are low on, or your light fixtures sending an order to Amazon for new bulbs when they’re nearing the end of their lifecycle.

Expect to see greater cross-compatibility across devices and platforms, and apps that allows users to control more than one aspect of their home (ie: not just lighting, but also heating, security and appliance control). IoT appliances will also take on more of the workload, alleviating the burden on homeowners…such as having your crockpot connected to your smartphone, so you know when dinner will be ready, or heating your home to your preferred temperature 30 minutes before you arrive, rather than waiting for the heat to kick in after you walk in the door.

As the technology continues to evolve, we won’t even need to manually set up these automations. AI tech will enable these devices to not only learn our preferences over time, but to also anticipate our needs and those of our family, leading to a truly automated lifestyle.

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Mobile Opinion

How Technology Augments Gen Z’s Buying Habits and Experiences

Generation Z, or Gen Z for short, is the new generation poised to refine and redefine the way the world shops. Retail brands want a slice of this ever-growing pie, vying for attention from this coming-of-age consumers, predicted to account for approximately 40% of all retail traffic, by as early as 2020.

The global retail industry is predicted to grow to a staggering $31.88 trillion by 2023 (an increase of 5.3% since 2017). Retailers are not only expected to meet the needs of these consumers with slick, user-friendly mobile apps, but also create delightful online experiences, that leave them wanting more.

Let’s explore the nuanced buying habits of the millennial generation, and how technology can create & augment seamless omnichannel retail experiences.

Gen Z ─ The Always-Connected Generation

Gen Z shoppers (born between 1995 and 2014) have been raised in one of the most diverse societies in history, with greater access to information and equality across genders and races. As such, they are steadily changing the way we shop, what products we buy, and how we decide on which brands to support, based on their values.

Gen Z ─ The Always Connected Generation

 

Generation Z shoppers as a group tend to be:

  • Happier with access to rather than ownership of products
  • Comfortable switching brands if retailers don’t add value to their lives
  • Smart with their money and prefer to price shop to find the best deals
  • Socially conscious and aware of brands that share their values
  • Eager to be co-creators with retailers and be part of the design process

These characteristics are a subtle yet significant difference from previous generations, where the expectation for products were met, but with little to no say in their design, purpose, or creation. However, trends are shifting, and Gen Z is proving that they care more about collaboration and community access than keeping everything for themselves.

“This generation desire involvement in the entire chain of activities that brings a product to market — from conception, design and creation, to marketing and retailing, even to funding and rewarding.”
─ Pricewaterhouse Coopers: “TNS Retail Forward

In this regard, social media has played a crucial role in the lives of millennials and Gen Z, dominating their retail experiences in the past few years. These platforms offer an accessible space for these generations to engage with brands everyday. Users can scroll through their posts while in line at a coffee shop, tap to see the prices and product names, and subsequently purchase them, as shown in these social media posts, all within a few minutes.

On average, people check their smartphones, about 50 times per day. Their interactions may range from browsing social media sites (60%), making mobile payments (31%), to using voice assistants for information (64%); with them being marked as some of the top activities. These numbers back up the business case that retailers must be interacting with customers on their devices─lest their brand be left in the dust.

According to a KPMG survey, Gen Z consumers prefer brands that personalize user experiences and gain loyalty from their customers. For example, Dresden, an eyewear retailer lets its customers create their sunglasses by offering interchangeable lenses and frame parts. Similarly, Birchbox asks its customers to share their beauty preferences, and in return, the company creates a customized box with a mix of different brands for them.

But what specific technology tools are retailers using that get results from a group of consumers that have never known a world without smartphones or the Internet?

Technology That Augments Retail Experiences

With their smartphones being as essential as their shoes, Gen Z believes that retailers exist both on their devices and on the street. That means retailers must be there for them in those spaces as well, encouraging organic touchpoints that feel more like a conversation with an acquaintance rather than a business transaction with a large corporation.

For one thing, the customer service associates that Gen Z customers connect with must be helpful and well-informed about brands, products, and services that are available. In fact, 40% of shoppers state that their in-store experiences would be significantly enhanced by a sales associate with deep knowledge of both the company and its products. Knowing this, it’s easy to understand why Gen Z shoppers value experience above anything else.

These savvy, plugged-in shoppers seek opt-in services, two-way dialogues, and mutual rewards from their retail experiences. IBM conducted a recent study and found that over half of Gen Z consumer would switch brands in a heartbeat, if they felt that the company’s products and services were average or subpar. Those from the Gen Z crowd are more willing to share their data with organizations, when compared to previous generations. However, they need to be aware that it’s being used to add value back into their lives with rewards programs, notifications about sales on products they’ve liked, and incentives to invite their networks.

Some retailers are already successfully capitalizing on the obsession of GenZ with social media and are using it for their benefit. For instance, clothing retailer Hollister regularly connects with Gen Zs on Snapchat to get real-time product feedback.

Voice Assistants coupled with home AI systems is another technology that is reshaping the course of retail. A recent survey suggests that Gen Z is more enthusiastic about voice assistants compared to their predecessors. In fact, in the US nearly one in five consumers have purchased a product using a voice-controlled device in the past year.

For Gen Z, speed and availability are a priority. Tech-first retailers like Amazon understand this and innovate to meet this new-age consumer demand. Amazon has introduced Amazon Go that allows shoppers to leave the store without having to check out or use a credit card to pay. Instead, their account automatically gets charged.

Gen Z values experience and Augmented Reality is helping retailers to offer engaging user experiences. Take for instance, Sephora, a leading specialty retailer in beauty introduced a new 3D augmented reality mirror. This AR-based mirror tracks the precise location of a user’s facial features and applies eye shadow colors directly on the video feed from a camera.

A Case for Omnichannel: Technology Success in Retail

Retail leaders should keep a simple yet important truth in mind when developing their omnichannel experience for the next generation: online for efficiency, offline for experience.

A Case for Omnichannel: Technology Success in Retail

A recent IBM study found that a whopping 98% of Gen Z visit stores to discover products in person; of those, 67% visit brick and mortar stores “most of the time” to browse around, even as they’re on their devices checking out competitors’ offerings and prices to find the best deals.

Gen Z shoppers continue to expect that their in-store experiences will complement their online visits to your brand, not simply mirror it. They are the first generation to be born into a world where the Internet and smartphones have always existed. As such, they intuitively understand that online and offline interactions will be different, and they expect retailers to understand this, too ─ or they’ll take their business elsewhere.

And this is crucial for retail leaders to note, because this generation makes up one-third of our global population, and they’re going to account for approximately $3.5 trillion in annual household spending.

Here are a few examples of how leading brands expertly use technology to create these sought-after experiences for Gen Z shoppers.

Omnichannel Retail Leaders

Walmart has been making impressive strides to chip away at the market share from their primary online competitor Amazon by buying up e-commerce companies, a strategy that enables them to merge both offline and online assets and take advantage of their newly-acquired partner tech experience…instead of building a technology-focused platform from scratch.

We partnered with Digital Mall of Asia to merge both online and offline customer experience in their latest offering, the Virtual Trial Room, which allows customers to browse through and test out products just as they would in a store. This gives them the impression that they haven’t missed out on anything, even though they are unable to visit in person, but rather gain the same value from the comfort of their home or office. Digital Mall of Asia, a first-of-its-kind initiative by Yokeasia Malls Private Limited is an amalgamation of real estate and digital space. It is a unique concept that introduces digital malls with digital shops, where an individual can buy, sell and rent. DMA brings together the best of offline and online worlds – the shopping experience of an offline mall where brands have dedicated shops and convenience of online shopping where we get unlimited selection and benefit of buying anytime, anywhere.

Companies are also utilizing applications such as geotargeting and geofencing to offer clients promotions and discounts via their smartphones while they’re near or in stores. American Eagle, for example, uses geofencing to send consumers loyalty points and rewards when they are trying outfits in the change rooms. Starbucks and McDonald’s both use geotargeting to send coupons and deal reminders when you’re walking within the vicinity of one of their stores.

Whether retailer leaders choose to pursue a technology-forward path using AI or augmented reality applications such as VR mirrors to “try on” outfits, to cover their bases with their in-store interactions to improve customer service and engagement, or even combine the two for a powerhouse omnichannel approach, retailers need to keep in mind that they should be offering valuable, unique experiences to the Generation Z crowd that they couldn’t get elsewhere.

Conclusion

It’s important to stress that a retailer’s omnichannel path is just that – a journey, not a destination. Customer conversion happens across multiple channels, not just in-store or online. Omnichannel options will continue to evolve with both advances in technology and shifting consumer behavior, so be sure to revisit your marketing efforts regularly to ensure you are meeting consumers where they expect to be heading, not simply where they’ve been before.

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Mobile Opinion

How Technology Impacts Omnichannel Experiences for Consumers

Technology has caused major upheaval in the retail landscape — from smartphones to social media to e-commerce — and has permanently altered both the ways in which retailers entice customers and the way people shop.

Individual consumers can more readily adapt to new technologies; smart retailers, however, are taking a futuristic approach to adopt technology to entice the consumer, by researching which established and emerging tech will help to further their brand and presence both online and offline.

People still value shopping for the inherent experience of picking out the products they need and love and don’t view shopping as simply transacting with retailers. Omnichannel approaches consider how people use technology and offer repeatable, consistent service that anticipates what they’ll want.

Shifting Consumer Behaviors Online and Offline

According to Forrester’s The State Of Retailing Online 2019 report, stores are growing but so are eCommerce expenses. So the industry continues to face the reality of physical store dominance combined with the necessity of digital presence. In fact, it goes beyond mere digital presence but fully optimizing various digital technologies and channels. In this context, it is important to highlight that many enterprises confuse multi-channel presence as being omnichannel. The former is about gives an opportunity to interact with the brand across channels but the latter makes it personalized and seamless. A truly omnichannel experience is a catalyst for both online & offline purchase – such shoppers spend 15% more per purchase than those who shop just on one channel.

The influence of digital in offline purchases is also a reality. According to a 2018 article, multi-touchpoint consumers are very valuable, and, by 2021, digital touchpoints will influence 41% of U.S. and 38% of E.U. offline retail sales.

A report from Digital Consumer Study also found that over 50% of consumers say they have used their mobile device to price-match, research product information, or make a purchase within the last three months.

Retailers are using technology to offer customized online experiences

Research shows that updates and changes in mobile payment, customer service chatbots, and AI-driven digital assistants have catapulted mainstream adoption of technology in retail, creating the feel of more “bespoke” shopping experiences. With more intuitive technology comes the ability for retail leaders to manage a nuanced approach to their omnichannel strategy.

Taking a cue from this shift in consumers’ shopping habits, retailers are striving to build relatable marketing campaigns, friendly customer service, rewards for customer loyalty, and personalized shopping suggestions that can help create an amazing omnichannel experience.

Retailers are using technology to offer customized online experiences

Retailers are using new-age digital solutions to engage with consumers offline

Consumer offline buying behavior has been shifting as well, and while more than half of shoppers view online shopping as cold and impersonal, three-quarters of cross channel shoppers expect the same high-quality customer service online as they would expect to receive offline.

A report from Ernst & Young (E&Y) states:

“Compared to offline grocery shoppers, high-use early adopters of online grocery shopping reduced their spending at physical grocery stores (by 18% in the first month and 4.5% over two years). Interestingly, shoppers’ new spend on online grocery sites was higher than their reduction in offline grocery dollars, indicating that online grocery platforms might also cannibalize offline retailers with overlapping assortments such as restaurants and drugstores.”

How omnichannel retail experiences are changing with technology

Omnichannel incorporates multiple touch points through both technology and in-person interactions to curate a seamless user experience for consumers. Importantly, it differs from multi-channel, in that omnichannel accounts for every platform that users will access and integrates these multiple channels so effectively that a consumer’s interaction is consistent across websites, social media accounts, apps, and in store.

Retail leaders should keep in mind that the priority or focus in developing a seamless omnichannel experience for consumers is not strictly to drive sales and revenue, but rather to build and maintain customer loyalty in their brand(s), creating lifetime customers.

Channels Involved in Omnichannel Experiences

Buying cycles have changed due to digital experiences. Mobile apps now offer rewards programs for customer loyalty and coupons for discounts both online and offline, and more than half of people state that they’d be willing to get discount notifications and coupons via text message. Almost one-third of shoppers browse products at a nearby retail store and then shop online to find the lowest prices and confirm quality.

Online shopping is undeniably convenient, but it’s still an inherently impersonal channel; 75% of cross channel shoppers want the same quality of customer advice provided online as in-store (chatbots). Digital assistants offer customized product suggestions with the personal information consumers share online. Voice assistants can offer faster, more personalized customer service, after either an online or offline purchase is made.

Channels Involved in Omnichannel Experiences

Customers also use mobile technology while in the store, great news for companies with a mobile marketing strategy. This includes push marketing using location-based advertising for suggested products while walking through a store; displays that offer on-the-spot, discounts-based, past-purchase history; mirrors that provide a 3D view of customers wearing products; and real-time inventory checks on items in-store.

Social media content marketing has reshaped the way we shop, too (for example, Instagram’s recent update to allow users to immediately purchase products they see in their feed).

Omnichannel Retail Experiences in Retail Today

Large offline retailers such as Walmart have focused resources on building up their online shopping support; on the flip side, online retailer Amazon has been acquiring brick and mortar stores, such as Whole Foods or their pilot AmazonGo location in Seattle.

  • Digital Mall of Asia (DMA) recently announced a partnership with Robosoft to recreate in-store experiences through a “high-tech virtual mall,” where customers can try out digital products much like they would in store.
  • In the States, Bonobos has created a store where customers can visit and try on various items, but they must purchase online; termed a “guideshop,” these stores “guide” customers to find the perfect fit. Orders are then placed online and shipped to their homes.

In conclusion, retailers can create a memorable experience through a seamless, nuanced approach. Staying abreast of changing technologies and updated methods of communication with consumers will enable you to adapt to changing consumer wants and needs. It’s “Digital Darwinism,” a world in which the most adaptable companies will survive.

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Mobile Opinion

The Convergence of Traditional Financial Services and Fintech: Opportunities and Challenges

The financial services industry is at a crossroad of digital disruption in Fintech and legacy systems. The wave of digital transformation which has impacted several industries including retail, media, and transport is making great strides in the financial services industry with several non-banking innovators providing both clients facing and back office technologies.

The last few years have also seen several acquisitions of finance technology software providers by banks and holding companies. These acquisitions have the potential to define the norms in the industry and the way in which software is deployed and utilized by money management firms including wealth management firms, RIAs, hedge funds or pension funds, fund managers, and large banks.

As these money management companies embrace technology, their bet is on offering their clients great solutions that deliver fully-integrated workflows. Even though this sounds compelling, there are several emerging industry trends that currently pose a challenge to this ostensible emerging paradigm.

This article will explore some of the challenges and opportunities provided by Fintech in the banking and financial services industry.

Challenges faced by the current financial services sector

Legacy Systems

To begin with, the likes of computing power, extensive connectivity, large data storage, and advanced analytical solutions provide a feasible digital alternative to both financial institutions and customers. It also poses several challenges for these money management firms. Even though this was inevitable, banks are finding it difficult to strike a balance between its legacy operations and the emerging technologies.

For decades, financial institutions have been dependent upon localized ‘on-site’ computing technologies. Therefore, the rate of adoption of disruptive Fintech solutions has been restricted by various factors, including a lack of better understanding of the technology in financial services.

Shrinking Fee

As money management companies are witnessing fee compression; the financial services industry is shifting its focus towards cost containment. This has seen several physical manifestations of this including the rising number of merges in the asset management space. This poses a unique challenge to the bank and software solution provider model as their acquisitions will mean that the companies can only achieve their ROI by significantly cross-selling to their client bases.

Think of it this way, as a money management firm facing razor-thin fees, what will be your priority? Not boosting your spend on technology in Fintech. On the contrary, investing in software to provide comprehensive solutions to the client doesn’t seem a great idea when there is a constant pressure of reducing costs. Such money management firms will then need to either charge extra up front or charge more on the back end.

Lack of Specialization

The myth that software solutions increase efficiency falls flat particularly in the financial services industry since most software solutions that are known for doing everything generally often lack specialization. In other words, most technology in Fintech cannot handle one particular functionality if it is known for having a great feature in another area.

This poses a great risk to the money management firms since investing in a software solution may help them at a given point in time, but not in the longer run. As the requirements of companies continuously evolve and as the industry’s priorities change, the technology that might appear ahead of the curve today may probably be behind the curve in months to come.

Innovation

Innovation is another challenge facing the large bank and software provider model. Technology in financial services has been changing as fast as the blink of an eye. So, when the vendor sells their solution, it is usually nearing the end of its innovation life cycle. The seller usually sells the software to the larger banks in the hopes of being able to continuously innovate and keep abreast with the latest technology to maintain its growing market share.

But there is a fundamental glitch: most of these large banks that use these software solutions serve a huge client base, who operate on different software versions. This makes technology updates even more difficult. With digital transformation in Fintech, the future of software is moving towards artificial intelligence, big data, advanced analytics, machine learning, and cloud computing. However, in reality, the technology currently being used by the clients mostly do not align with this model.

New Business Models

The rise in technology companies has forced several large money management firms to acquire these start-ups in order to remain relevant. However, there are emerging business models as well, which pose a challenge of inconsistencies within the industry. The digital disruption is causing banks and solutions provider to rethink their business models that align with their goals.

For instance, one way of operating is when the bank continues to be the face for customer interaction android offer products in a segment where they do not have the capabilities. While this is great for the customers, who will benefit from more product choices, it will also allow the banks to generate fee-based revenues from the software provider. This is one such model, and it is up to the money management firm to decide whether they want to acquire, partner or outsource Fintech provider. But these different models eventually create differences within the industry and provide inconsistent experience to the customers.

The rise of digital banks is another shift that the current banking industry is witnessing. According to a study, visits to bank branches are expected to drop 36 percent between 2017 and 2022, while mobile transactions are expected to grow 121 percent in the same period.

One such digital bank Revolut provides a finance app that enables currency and cryptocurrency exchange. Users can also control their finances by setting up a budget and tracking their daily spends. In 2018, Revolut has more than 2 million users. Another such mobile bank N26 allows its customers to open a bank account and manage money using their mobile devices.

Advantages of Fintech in the Banking and Financial Services Industry

The digital transformation in Fintech provides a great opportunity to large banks who can automate much of their manual tasks. It can help banks provide comprehensive solutions to deliver services directly to their customer’s mobile devices. Such technologies can also help banks to send sensitive communications with the help of encrypted Internet transmissions and also broadens the horizon for the banks to use cloud computing and save cost spent on data centers.

As rightly quoted by Jamie Dimon, Chairman & CEO of JP Morgan Chase “Hundreds of startups with a lot of brains and money are working on various alternatives to traditional banking.”

In addition to this, several Fintech companies like OpenLink, TransferWise and Poynt also provide point solutions in areas such as remittances, payments, savings and investments, trade and invoice finance, lending, and insurance. There are robust models being created for Anti-Money Laundering-Know Your Customer (AML-KYC) compliance, underwriting and risk management, credit scoring, collections and recovery, customer service, capital markets activities, etc.

Traditional banks are also collaborating with the new-age FinTech to create a mutually beneficial partnership.

For instance- Goldman Sachs works with Symphony, which develops a secure way for sell-side and buy-side firms to collaborate keeping compliance in place. Blend Labs works with banks and financial institutions to develop an efficient underlying technology for mortgage lending. BBVA Compass has teamed up with OnDeck to offer loans to small businesses that would not otherwise qualify for bank credit.

PayTM one of the largest e-commerce payment system and digital wallet company of India, has partnered with leading banks to offer traditional services augmented by technology. The company has partnered with ICICI Bank, to announce an all-new initiative where users can get interest-free short-term digital credit. Called Paytm-ICICI Bank Postpaid, the new offer lets Paytm customers get instant credit for things like paying for movie tickets, bill payments, flights, as well as physical goods. It has also collaborated with Induslnd Bank to introduce a facility that creates a fixed deposit when the customer balance exceeds $16K (INR 100K) at the end of the day.

Final Thoughts

All the opportunities and challenges posed by Fintech in the financial services industry call for a new model for large banks and conglomerate. Instead of offering monolithic systems to the customers, it is time that these money management companies along with challenger banks look at customized and specialized solutions that have the capability to offer a suite of functionalities integrated with by APIs.

Innovation and competition will play a leading role to shape the future of digital transformation in Fintech so that they change according to their clients’ requirements. Least to mention, that this digital transformation in Fintech will eventually lead to the lowering of total systems cost.

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Mobile Opinion

6 steps to a great digital customer experience for enterprises

We live in a digital world. Yet, brick & mortar is very much part of our lives. Given the hype around online & mobile app based sales one would think the offline retail has shut shop. But that’s from the truth. In the US, ecommerce now accounts for 14.3% of total retail sales. It is a significant jump from a 5% share just a decade ago, but consumers still flock to brick & mortar retail for their shopping needs. In 2018, Amazon was expected to contribute to 49% of the US e-commerce market and 5% of all retail spend.

Beyond retail, many other purchase or usage related experiences have gone digital. Brands of the gig economy, banking & payment services, games and many more have come to be judged by their digital experiences. Paradoxically, brick & mortar enterprises need to ‘go digital’ more than ever. A hotel’s guest experience may be driven by it’s service quality, courteous & efficient staff, culinary experience and creature comforts. But there is a digital component to the brand experience starting from its website, the booking engine, quality and efficiency of the backend software (including room booking, services management etc.) the consumer facing mobile app and more. Even in B2B enterprises, the scope for digital to play a role in delivering better experiences is huge. Of late, large enterprises have started relying on Enterprise Mobility Apps for faster communication and improved productivity.

In both B2B and B2C domains, product or service parity is the norm. It is every rare to find an enterprise or brand hold an unmatched edge over competition. In that context, customer experience becomes critical.

Customer experience

There can be elements of customer experience which are purely offline. For example, the way a customer is greeted and attended to at a retail store, the on-boarding experience of a new employee at in an enterprise and many more have significant human touches which cannot be matched or replaced by a digital experience.

A great digital experience, be it in the B2C or B2B context starts with placing the needs of the end user at the center. There is no substitute for understanding the needs, aspirations and pain points of the customer and converting them into actionable insights. While customer research and quantitative numbers maybe be available to everyone, what separates the leaders from the followers is the ability to convert information into insights. It is an ever evolving process as customer needs keep changing with the times. Who would have imagined ten years ago that today customers could hire someone to wait in line? Such services, products and features thereof arise out of universal insights, gained through observation and intuition. While consumer insights remain at the core, we at Robosoft foresee six critical steps.

Digital Customer Experience

 

Understanding user needs

My recent favorite example of a delightful user experience was when Uber introduced the Spotlight feature which can help drivers locate a passenger in crowded streets, especially at night. The in-app messaging service too is a boon not just for the user but for English-challenged drivers in many developing countries. Such features are a result of understanding the user’s evolving needs. So how can we best understand user needs? It certainly cannot happen sitting in conference rooms and going through presentations. There is no substitute for observing the customer first hand. Better still, put yourself in the customer’s shoes and live their lives. If the task at hand is to design a lunch box typically used by a mother sending her children off to school early in the morning, there is no substitute to experience how it feels first hand – even if it means role playing and ‘switching’ genders momentarily.

Creating a strategic design framework

Next up, create a strategic framework for your product, service or the business problem you are attempting to solve. Principles of Design Thinking should be put to use to create a road map. It is a folly to think design thinking comes into play only when a design in terms of ‘look & feel’ is involved. We believe that Design Thinking is about the incorporation and unification of digital technology into all areas of a business resulting in positive changes in how businesses operate and deliver value. This stage may involve, iterative, collaborative process including prototyping.

Crafting a design with emotion and empathy

Is functionality more important than aesthetics? For years, enterprises placed more importance on the former with little attention paid to the latter. Today’s consumer is demanding and doesn’t seek compromises. A digital experience has to be about getting the task done AND in a memorable, visually pleasing manner. In other words, the design has to make the consumer ‘feel’ or address an emotion in a manner that subliminally cues, ‘yes, we understand you’.

Executing the right technology to deliver a delightful experience

Should your brand or enterprise offer a voice related consumer experience? Is an augmented reality solution a necessity for your brand? These and other emerging tech related queries are common now – way beyond the ‘native app vs web app’ kind of question. The answer is strategic in nature and a combination of consumer understanding, technology trends and expertise in such new skills.

Embedding a feedback loop and analysing the reports

A big advantage in the digital world as compared to products of yesteryears is that today, almost every digital product can provide feedback. Whether it is a website, an internal app for employee engagement or a consumer facing app – it’s usage or lack of it can provide tonnes of information. The trick is in converting this information into actionable insights.

Perpetual iteration towards improvement

Physical products of yesterday, especially capital-intensive productions like automobiles would iterate on new versions after a few years. While that maybe still so, many products & services demand constant and frequent version improvements.

This cyclical process places the user at the centre and involves 3 key pillars: strategy, design and technology.

The X-factor in all these processes is of course, the quality of people. While their skill sets, attitude and service standards may vary, the 6-step process could be a handy guide in charting digital experiences for enterprises.

This article was originally published on LinkedIn as a pulse post on my profile.

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