How are banks responding to the Fintech revolution?

September 21 2016

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I wrote a piece in July, Future of Fintech depends on APIs, talking about the landscape of Fintech and how a regular part of our lives today is enabled through Fintech innovations and APIs.

Here, I want to talk about banks and how they shouldn’t see fintech players as competitors, but partners. We’re also seeing the trend where banks are either partnering up with fintech companies, acquiring them, or funding them. Some banks are even launching them their Fintech subsidiaries – see diagram below:

Virtual reality in the enterprise – is it right for your organization?

September 16 2016

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The world has worked itself into a frenzy over Pokemon Go, the augmented reality game where Pikachu and his associates appear in local shops and restaurants. Many observers may have looked at this and thought that virtual reality will never have any impact on the enterprise.

B2B challenges in healthcare

August 29 2016

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It’s no secret that paying for healthcare in the United States is extremely difficult to do. Payment systems for healthcare across the country are highly fragmented; many payers and providers use multiple formats for remittance. This creates challenges and frustration for patients, providers, and insurance companies, particularly at a time when there is increased pressure to reduce costs. Other industries use B2B automation processes in standard languages like EDI to standardize and automate payment systems; B2B challenges abound for the healthcare industry.

IT leaders will fail at digital transformation — here’s why

August 4 2016

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IT leader digital transformation

How do companies innovate and digitally transform their business by using the same strategies, procurement and operating models and approaches to technology? They don’t. They have the same company, just with a flashy website or mobile app.

I had a meeting with a group of IT executives at a conglomerate in Southern Europe. The meeting was intellectually stimulating and provoked interesting discussions and actions to follow after the meeting. Even MuleSoft’s senior team was impressed with their vision and how forward-thinking the IT execs were.

APIs: a culture shift for the enterprise

July 15 2016

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When we hear the word “disruption” we usually think of start-ups taking over a particular space through an innovative approach. Instead of renting an expensive hotel room or car, start-up companies utilize the power of the shared economy and built apps for us to save money and access those resources on demand. Another example can be with music. No longer do we buy music and deal with storage. Instead, streaming music is easy, painless, and we can use our storage for other apps and files. However, start-ups shouldn’t be the only companies that should have the disruption mindset. Businesses of any type, in any industry, should embrace disruption to break away from the status quo. If they don’t, eventually, somebody else will do the job better and grow bigger as a result.

The CIO’s top priority: accelerating change

June 20 2016

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What’s the one thing that will set your business apart from the pack? According to our founder Ross Mason, it’s the rising role of integration and an emphasis on speed.

How an application network could create the car of your dreams

I remember my first car well – it was a black Jeep Cherokee and made a “NGGGGGGRGH!” noise driving up hills. But I was so proud of it because it meant independence and adulthood.

Failed digital transformation could have a negative impact on revenue

96 percent of businesses are either undergoing some kind of digital transformation strategy or plan to in the near future. Those are the results of a recent survey we conducted; just about every business is trying to get a handle on how to cope with new channels, new methods of engagement, and ubiquitous connectivity. The reason is clear; nearly three quarters of IT decision makers surveyed said that if digital transformation initiatives weren’t completed, it would have a negative effect on revenue, and 39% said that the negative effect would happen within 3 months.

The top 3 obstacles to digital transformation

There are very few businesses that aren’t undergoing some form of digital transformation. As our founder, Ross Mason, points out, “Business as we know it is under enormous pressure…No company is too big to have the rug pulled from under it. It is no longer about the big eating the small; it is now about the fast eating the slow.” Businesses know that they have to change to keep up with the digital revolution, and they are depending on IT to deliver that transformation. 

“Polishing the status quo won’t protect you from disruptors”

There are very few industries that aren’t going through digital disruption right now, but perhaps one of the most profoundly affected by the digital revolution is the retail industry.

In MuleSoft’s recent Connectivity Benchmark Report, fully 100% of retailers surveyed said they were embarking on digital transformation activities. This is because there is a sea change right now in how people shop. Australian publication iStart highlighted that there had been a 50 percent decline in visits to physical stores over the Christmas shopping period over the last five years, as people switched to online alternatives.