Bis 221 - Emerging Technology Paper

Emerging Technology Paper

Areeb M Bhatti

BIS/221

November 15, 2015

Professor Panos Mastrogiannis

Emerging Technology Paper

        Technology is perhaps the greatest instrument of change in the modern world. It promises innovation to help people and businesses with efficiency, improving communication, building human capital, and become mobile. An application like Skype is providing a convenience factor for people and business to connect from anywhere in the world. Skype is more than a simple video call, it touches on human emotions. You can build trust with clients, motivate your teams around the world, and create your next big. You can feel as connected as you want to be with Skype. My Organization can currently use this technology to create high-value connections, transform interactions, reinforce brand, and promote loyalty. My organization can benefit by using remote video tellers. The customer service representatives can offer assistance through video conference on the ATM, tablets, Smartphone, or a computer device, which can make the interaction very effective and private. Having a representative available 24/7 can really bring peace of mind to consumers because they can always communicate with a person through live video. This can help the organization save money especially in times when consumers are finding inconvenient to take a trip to their local bank because they feel like they can do banking through a mobile device. This technology can personally help me as well because I will have more live bank representatives who I can choose from when handling my money. Being in the convenience of my home rather than having to drive to visit a traditional bank will help me save time in the day for more things. There are also drawbacks to this technology because Skype works over the open and congested Internet. For example, if there is a network problem then it makes it harder for the business to help the consumer thus creating customer dissatisfaction.  This service employs peer-to-peer technology that involves other Skypers computer to help route calls, which is a security concern. For this reason, it is going to take a lot of work to really implement Skype in the finance industry. When it comes to people’s money the organization has to provide peace of mind to its customers by insuring that high level of encryption and security measure are done to protect the customer’s information.