Final writing exercise Essay Example for Free

Final writing exercise Essay There are three phases whereby each has a different crystal structure at three different temperatures. At room temperature (298K), Phase III is present whereby Cs3H(SeO4)2 has a crystal structure of a monoclinic with a space group of C2/m. At 400K, Phase II is present whereby Cs3H(SeO4)2 has a crystal structure of a monoclinic-A2/a symmetry. At 470K, Phase I is present whereby Cs3H(SeO4)2 has a crystal structure of a trigonal with a space group of R3-m. In Phase III, as we can see in Figure 2(a), the positioning of the tetrahedrons is parallel to the a-axis, and in between these SeO4 tetrahedrons are the hydrogen bonds. Looking at a 2dimensional perspective, we can also see that there is a translation movement of the SeO4 tetrahedrons along the a-axis; hence the symmetry operator would be a glide line parallel to a-axis. In a 3-dimensional perspective, we can see that Phase III has a 2-fold rotation axis and contains glide planes. In Phase II, from Figure 2(b), we can see that the positioning of the SeO4 tetrahedrons are along the approximate direction [310]. Observing the schematic of the crystal structure in Phase II, we can see that there is a vertical mirror line in between the SeO4 tetrahedrons. There is also an a-glide reflection vertically. In Phase I, from Figure 2(c), the positioning of SeO4 tetrahedron is similar to that of Phase II, however the difference is the crystal structure and the hydrogen bonding. Comparing both Phase II and Phase III crystal structures of the compound, Phase II contains two-fold screw axis, inversion center and a two-fold rotation axis, which is the sole reason for Phase II to be twice of that of Phase III in terms of geometrical  arrangement of hydrogen bonds. From the above analysis of the symmetry of the crystals structures in different phases, we can tell that Phase III has the most symmetry operators and hence achieving the highest crystal symmetry generating a low geometrical arrangement of hydrogen bonds. Due to the low geometrical arrangement of hydrogen bonds, the mobility of protons decreases giving the result of ferroelasticiy. The drastic change from superprotonic conductivity to ferroelasticty happens when there is a change from Phase II to Phase III. The major difference between theses 2 phases is the hydrogen bond arrangement. Paragraph 2 Under the optical microscope, we can observe that the polymorphic domains will alter at each phase transition to a different extent. We can see in phase III that the domains in the Cs3H(SeO4)2 crystal are made up of polydomains separated by two kinds of domain boundaries. The two kinds of domain boundaries are categorized as the planes of {311} and {11n}, where n is determined by the strain compatibility condition. The domains at the sides of each domain boundary are related to the reflective symmetry or the rotational symmetry on that boundary itself. Furthermore, we can observe that the angle between any domain and its neighboring domains is approximately 120 °, which is very close to the theoretical values calculated using the lattice parameters. As we move on from phase III to phase II, we can observe that the domain structure alters slightly by the phase transition of TII–III. Similarly, the reflective symmetry and rotational symmetry also changes at the same phase transition. However, the kinds of domain and domain boundary remain the same as those in phase III despite a change in domain pattern. This could be due to the slight change in alignment of hydrogen bonding between the SeO4 tetrahedrons when the existing hydrogen bonds were broken to form new weaker  ones. This might explains why their lattice parameters a and b do not really change appreciably. Compared to phase III previously, the angle between any domain and its neighboring domains in phase II is also approximately 120 ° and is justified by the theoretical values determined from the same equation we used for phase III. Hence, this suggest a slight change in the Cs3H(SeO4)2 crystal structure at the phase transition of TII–III. From phase II to phase I, the domain boundaries is observed to have disappear just before the curie temperature of the phase transition of TI–II and the crystal structure changes from  optically biaxial to optically uniaxial. This could be due to an external stress caused by the atomic rearrangement of the SeO4 tetrahedrons in the Cs3H(SeO4)2 crystal as a result of breaking the hydrogen bonds between them. Paragraph 3 Higher temperatures for most material will enable atoms to move to low energy sites, fitting into a perfect crystal symmetry. Cs3H(SeO4)2 however behaves differently. As the temperature increases (above 396K), its crystal symmetry decreases when it changes phase from III to II. The orientation of the hydrogen bond for phase II and III differs. For phase II, the orientation is along [310] and [3-10] direction whereas for phase III, it is parallel to the aaxis. As the transition from phase III to II occurs, the precursor of the superprotonic conductivity is observed. In order for movement of proton to occur, the breaking and then recombination of hydrogen bonds are required. For phase III, in order for the movement of one proton, the breaking of 2 hydrogen bonds is needed. The reason as to why 2 hydrogen bond is needed to be broken and recombined again is because for the movement of one proton to occur, it must break the hydrogen bond it resides in and then change its orientation, recombining at another site; the mirroring effect of opposite hydrogen bond is required to maintain the crystal symmetry i.e. to say that the another hydrogen bond parallel to the previous hydrogen bond site needs to be broken and recombined at other site parallel to the newly  recombined hydrogen bond. In this way, in phase III, the recombination of two hydrogen bonds is simultaneously needed for one proton transport. Phase II however, behaves differently. The movement of the proton is independent of the other protons at other hydrogen site. The crystal structure allows for this flexibility of the proton motion, which the superprotonic conduction takes place. The mechanism in which proton transportation occurs in the polymorphs is by the diffusion of protons through a hydrogen bond network, by the cleaving and formation of the hydrogen bonds. However, in certain phases, the cleavage and formation of the hydrogen bond might differ. The fuel cell works on the basis of the movement of protons. The movement of electrons should be disallowed as it would short circuit the fuel cell. Hence, a membrane is used to allow only the movement of protons across and not electrons and gases. On top of that, in order for a superprotonic effect to occur, the flexibility for proton motion must be allo wed. Hence, the lesser symmetrically patterned the phases the protons reside in, the higher this flexibility.

Strategy for Innovation and Development in Latin America

Strategy for Innovation and Development in Latin America Fernando Vela ABSTRACT Latin America has grades development opportunities due to its great natural wealth. The universities are a fundamental part of this development because they are encouraging their students to develop their capacity for innovation. The universities are creating a series of programs to help the innovation and development of Latin America. These programs are based on the relationships that exist between different universities, so they can share ideas and innovation and development projects. It is also based on reference the model for the University Social Responsibility in explaining the 4 key points for the development and the innovation. This will help improve the economy in Latin America. INTRODUCTION Mark Twain says: A man with a new idea is a crazy until the idea triumphs. Latin America is a characterized as one of the regions of the world with greater opportunities for growth and development. Latin America has opportunities for growth and the universities are the key to this growth. Those countries that it makes up are rich in resources natural and talented human. However, in its population there are great contrasts in the distribution of wealth. For this reason, there is still poverty in Latin America. Â  Countries that make up Latin America have sufficient natural riches and to face the future with optimism. Universities are a key part of the momentum of the entrepreneurial activity in Latin America. It is a source of knowledge for their students and the society, has a positive influence in these. One of the ways in which universities have extended their contributions in the field of entrepreneurship, is through the creation of networks taking into account the model for the university social responsibility. In Latin America the majority of universities seek to give students an education with innovative skills. For this reason, the students develop their creative capacities and seek solutions to problems that exist in Latin America. This is the only way in which students can help the development and entrepreneurship in Latin America, because it began to create new sources of employment and help that every country that makes up Latin America continue proceeding. Countries of Latin America with higher and lower index of innovation In Latin America there are countries that have an index very high of developments in the last time. It is the case of Colombia and Chile. In the past few years, Chile has been growing in the topic of innovation, ecosystems and mainly in the undertaking. Start-Up Chile was the beginning of a revolution in this area, since developed a great program that was not limited to the local. But this does not stop there, until in the south, in their universities, is planning to develop and enhance dynamic entrepreneurship (Andrade, 2015) Colombia ranks fourth in the list of countries with the highest number of innovative entrepreneurship in initial phase, behind Chile. Colombia has conditions such as a high activity of enterprises in the early phase, a significant percentage of innovation and ambition of growth of young companies. Colombia shows a high rate of entrepreneurship and a large proportion of them are innovative and with the ambition to grow. A large number of entrepreneurs is introducing products or services in the Colombian market, which before were not available and that is good. (Kelley, 2015) According to Kelley, both in Chile and Colombia, the only Latin American countries included on the list, people can see entrepreneurship as a way to provide an income when there is not better alternative to the employment. Venezuela suffers an economic crisis due to the low cost of petroleum. This country depended only of oil and for that reason the Venezuelan people is concerned. The development and innovation in this country is the lowest according to a study carried out. This study indicates that due to the crisis that confronts Venezuela companies are deterred from investing in Venezuela. (Pardo, 2014) Universities in Latin America propose a momentum for innovation From a point of view of research, universities such as the Autonomous of Nuevo Leon University conducted several studies that enhance the entrepreneurship and innovation; highlights the study of them different types of strategies of collaboration or bonding and its contribution to the amount of development of projects of research and development technological for improve it management and efficiency in the generation of projects of research and development technological and innovation in organizations. In the case of the Catholic of Uruguay University, there was a strong work for developing entrepreneurship and innovation through education by competences, where through their actions seeks to develop the entrepreneurial spirit of its students support to entrepreneurship of students and graduates to investigate the profile of the Entrepreneur. The Popular autonomous of the State of Puebla University is an institution that also has with a program to promote the entrepreneurship which is plans to from the constructivism and the connectivism, and has as strategy didactic perform projects training and solve problems, form character, develops the auto learning, gives tools of management, is flexible, links to the student until where it decides to, creates environments, networks of collaboration and partnerships. Highlights also the technological of Monterrey, institution that from makes more than thirty years has designed various strategies to foster the culture entrepreneurial through it innovation and the generation of value. This institution has an Institute that aims to ensure that all students develop and strengthen their entrepreneurial spirit, which has worked hard in implementing the following strategies: develop attitudes and entrepreneurial skills; study and propose to advance the State of the art in the field of entrepreneurship; facilitate the creation and development of enterprises for students with interest; positioning and communication; and partnerships and collaboration (Toledo, 2014) Reference the model for the University Social Responsibility Organization. Where it is analyzed as the business school incorporates between its management the themes of innovation and entrepreneurship, teaching with example. Education. Where are reviewed and analyzed the way in which each business school uses techniques and tools and approaches for the formation of the competencies of their students in these topics. Research. In where is identify the areas priority of study and research relevant that impact to your region or community and their forms of disclosure Participation. Where it seeks to have practical results with an impact on the surrounding communities so that in a collaborative effort students and researchers applied in real situations their knowledge and experience, leaving testimony in companies and agencies in the region of successful projects. (Toledo, 2014) CONCLUSION The lack of innovation hinders the creation of jobs. The economic situation in Latin America is such that firms tend to start small and remain small. In the last ten years, Latin America has benefited enormously from the favorable winds of the global economy, enabling you to reduce extreme poverty, improve the equality and catapult to 50 million people to the middle class. However, as these favorable winds are diluted, growth will have to come from within, and the innovation and dynamism will be key for the region can take advantage of the social progress of recent years. Employees in Latin America works for companies many times considered as an engine of development, the entrepreneurial spirit generates jobs and spurs economic growth. While the creation of enterprises in the region is high, companies that survive grow at a much lower rate than their counterparts in other regions. Latin America has a wealth that is not developed by the lack of innovation and entrepreneurship. For this universities are generating more development in Latin America with their innovation projects. References Andrade, M. (2015, JUNIO 1). LA TERCERA . Retrieved from LA TERCERA: http://www.latercera.com/noticia/chile-es-lider-en-america-latina-en-materia-de-emprendimiento/ Kelley, D. (2015, enero 21). Ejecutiva. Retrieved from Ejecutiva: http://mba.americaeconomia.com/articulos/notas/colombia-ocupa-el-cuarto-puesto-en-listado-de-paises-con-mayor-numero-de Pardo, D. (2014, NOVIEMBRE 18). BBC WORLD. Retrieved from BBC MUNDO : http://www.bbc.com/mundo/noticias/2014/11/141117_venezuela_precio_petroleo_dp Toledo, L. A. (2014). Innovation and entrepreneurship in the light of the Latin American context . LIMA: CLADEA.

The Value and Necessity of Public Relations Essay -- Human Resources

Public Relations are the actions of a corporation, store, government, individual, etc., in promoting goodwill between itself and the public, the community, employees, customers, etc. Things we learned from Public Relations are provides a better understanding of the company, promotes brand image, and it is helps the company keep a good reputation. Public relations provides a better understanding of the company because it provides insight on what the company is up to and how things are running. Customers can always find out if the company is planning to launch a new product or thinking of innovations on already made products. Additionally, customers can find out about events revolving around a certain product. Therefore, the customer can attend the events that are supporting a charity or a product. Likewise, Public Relations promotes brand image by holding events and plastering the brand all over. There are certain events that are supported by one type of candy. Hershey partners with a ctivities and events that in return promote the product throughout the event. Lastly, Public Relations helps the company keep a good reputation. Hershey provides opportunities where customers can come and experience the product before purchasing it. For example, Public Relation has held events in different states to promote different brands. A big campaign that happened last summer was surrounded by S’mores. It was called Say S’mores and it was intended to encourage families to create S’more’ summertime memories. The campaigns consisted of contestants taking pictures of their favorite S’mores moments and posting them to Facebook. There would be three monthly winners and each would receive awards varying from roasting skewers set, picnic blanket and... ...re aware not only in the U.S. but in major countries. The confections industry can be taken to a whole new level because of spreading to different countries companies are than reaching other cultures. There is a whole new world outside of what we are used to. A product that nobody has thought of now could possibly become a top selling product in the future because of the influence given from another part of the world. Works Cited: http://www.pwrnewmedia.com/2011/hershey/smores/index.html http://www.prnewswire.com/news-releases/reeses-sweetens-ncaa-march-madness-with-perfect-pick-promotion-and-annual-college-all-star-game-142095723.html http://www.alexgpr.com/2011/08/hersheys-pr/ (http://www.thehersheycompany.com/social-responsibility/csr-report.aspx (http://www.hersheystrackandfield.com/about.aspx) (http://www.wisegeek.com/what-is-public-relations.htm)

Essay --

Introduction: The Basis for Nuclear Power The technological and scientific undertaking on the discovery of actinides such as uranium, plutonium, and neptunium cannot be ignored. It led, for example to the Manhattan Project of 1945; a Cold War arms race between the United States and the Soviet Union; and more recently, the active development of nuclear weapons by proliferating states, such as North Korea and Iran1-2. Although the Nuclear Nonproliferation Treaty (NPT) in 1970 called for peaceful applications of nuclear technology, including technological by-products, derived from nuclear weapons3, environmental problems remain a concern as a byproduct of this age . In accordance to the NPT, efforts to recycle weapons-grade material, as a new energy source, has become an attractive alterative for power generation of the world’s electrical power supply via fuel reactors for two reasons. First, it can curb cost and foreign dependency of oil, by allowing the United States to invest their domestic policies on further development of their nuclear reactors programs. For instance, by August 2000, the average price paid by U.S. refineries for a barrel of oil had risen from $10 to $30 as defined by the Organization of Petroleum Exporting Countries (OPEC)4. Second, nuclear power can take the place of burning fossil fuels by reducing carbon dioxide emission thereby addressing the concern of the greenhouse effect4. Even though nuclear power, accounts for 13-14% worldwide energy5, if nuclear fuel can produce electricity more cheaply compared to coal, gas, or oil, then the desire to be independent of international trade for energy supplies is indeed worthwhile. In sum, nuclear power is a remarkable solution for peaceful uses of energy especially i... ... (CTR) program: the consolidation and security of loose nukes from the former Soviet Union in the nuclear arsenal stockpile21, should also extend to the containment and security of new technologies, such as UOFs at designated nuclear engineering facilities in the United States. As a result, this will help inflate compliance to the NPT, and more importantly, reduce the likelihood of theft from threatening parties. Conclusion Uranyl organic frameworks, as a new fuel alternative is indeed an exciting and promising technology that can mitigate the nuclear waste problem in the United States. Even though UOFs introduce new issues in global security via nuclear proliferation and nonproliferation, the current and proposed safeguards of UOFs will help strengthen the United States posture in the international community by their continual adherence and transparency to the NPT. Essay -- Introduction: The Basis for Nuclear Power The technological and scientific undertaking on the discovery of actinides such as uranium, plutonium, and neptunium cannot be ignored. It led, for example to the Manhattan Project of 1945; a Cold War arms race between the United States and the Soviet Union; and more recently, the active development of nuclear weapons by proliferating states, such as North Korea and Iran1-2. Although the Nuclear Nonproliferation Treaty (NPT) in 1970 called for peaceful applications of nuclear technology, including technological by-products, derived from nuclear weapons3, environmental problems remain a concern as a byproduct of this age . In accordance to the NPT, efforts to recycle weapons-grade material, as a new energy source, has become an attractive alterative for power generation of the world’s electrical power supply via fuel reactors for two reasons. First, it can curb cost and foreign dependency of oil, by allowing the United States to invest their domestic policies on further development of their nuclear reactors programs. For instance, by August 2000, the average price paid by U.S. refineries for a barrel of oil had risen from $10 to $30 as defined by the Organization of Petroleum Exporting Countries (OPEC)4. Second, nuclear power can take the place of burning fossil fuels by reducing carbon dioxide emission thereby addressing the concern of the greenhouse effect4. Even though nuclear power, accounts for 13-14% worldwide energy5, if nuclear fuel can produce electricity more cheaply compared to coal, gas, or oil, then the desire to be independent of international trade for energy supplies is indeed worthwhile. In sum, nuclear power is a remarkable solution for peaceful uses of energy especially i... ... (CTR) program: the consolidation and security of loose nukes from the former Soviet Union in the nuclear arsenal stockpile21, should also extend to the containment and security of new technologies, such as UOFs at designated nuclear engineering facilities in the United States. As a result, this will help inflate compliance to the NPT, and more importantly, reduce the likelihood of theft from threatening parties. Conclusion Uranyl organic frameworks, as a new fuel alternative is indeed an exciting and promising technology that can mitigate the nuclear waste problem in the United States. Even though UOFs introduce new issues in global security via nuclear proliferation and nonproliferation, the current and proposed safeguards of UOFs will help strengthen the United States posture in the international community by their continual adherence and transparency to the NPT.

Business cycle Essay

Discuss the phases of business cycle. Suggest Suitable Fiscal policy and monetary policy to overcome the recession in economy. Business Cycle – A business cycle is also known as trade cycle. It implies wave like fluctuations in the level of economic activity, particularly in national income a, employment and output. It is a short term picture of the behaviour of real output in a private enterprise economy. Business cycle refers to upturn and downturn in the level of economic activity that extends over a period of time. The business fluctuations occur in aggregate variable such as national income, employment and price level. The variables nearly move at the same time and in the same direction. However they vary in duration and intensity. Cyclic fluctuations have the following features: †¢Wave line movements – ocyclical fluctuations are wave like movements and are recurrent in nature ocharacterized by alternation of expansions( prosperity) and contraction ( depression) in economic activity oare repetitive and rhythmic ocontains oscillating movements in the form of waves from peak to trough and trough to peak †¢Synchronic – oEntire business of an economy acts like an organism oAny happening on economic front affects the entire economy oAnd through the mechanism of international trade affects entire world oexample -The Great depression 1929 †¢Cumulative – oProcess of expansion and contraction is of cumulative and self-reinforcing in nature oMoves in same direction until external forces reverses its direction †¢Self-generating forces – oIt can terminate the period of prosperity and start depression oCannot have definite period of prosperity or depression †¢Non identical – oPeriod of trade cycle are not identical although they recur with great regularity †¢Not symmetrical oPeak and trough are not symmetrical oMovement from upward to downward is more sudden and violent than that from downward to upward oDownturn is sharp and steep oIt is relatively narrow at its peak and flatter at its trough Phases of business cycle: A business cycle can be divided into four phases. They are shown in the fig 1.1 The phases are: 1.Expansion or prosperity or the upswing 2.Recession or upper-turning point 3.Contraction or depression or downswing 4.Revival or recovery or lower turning point These phases are recurrent and uniform in case of different cycles. But no phase has definite periodicity or time intervals. A business cycle starts from trough or low point, passes trough a recovery and prosperity phase, rises to peak, declines through a recession and depression phases and again reaches a trough. 1)Expansion or prosperity or the upswing or peak or Boom – The top of a business cycle is called Peak or Boom or prosperity phase. In the boom period, the overall business activity is rising at a more rapid rate. There is a rise in real output and incomes of the people. There is a rise in production, prices, employment, wages, interest rates, profits and in the volume of bank credit. The general mood of the businessmen is that of optimism and commercial. The industrial activity both speculative and non-speculative shows remarkable expansion. Construction activity gets a big boost. Share markets give good gains to the investors. Financial institutions tend to expand credit. In the words of Haberler. ‘‘Prosperity is ‘a state of affairs in which the real income consumed, real income produced and the level of employment are high or rising and there are no idle resources or unemployed workers or very few of either†. During prosperity period, there is a high level of demand for capital goods and consumer goods and services. Risky investments are undertaken by the entrepreneurs. Inefficient firms enter into the market and manage to survive. The high level of demand for the various inputs creates shortage of some of them. Inflation goes up. The economy becomes supply constrained. The state of prosperity proves to be short lived and the downturn of its period starts. 2) Recession or upper-turning point – The end of prosperity comes and enters into recession. Recession is a slowdown of business activity. In recession employment and output both decline. The forces which bring the contractionary phase of business fluctuations (recession) are as follows: a) As prices of the commodities rise the wages of the workers tend to lag behind. The reduction in the purchasing powers of the workers brings down the demand for consumer goods b) Due to shortage of some inputs the expansion in production of goods is hampered. c) The non-availability of credit beyond a particular limit of expansion acts as a serious brake on prosperity. The financial institutions begin to recover the loans. The firms which are unable to pay back the loans begin to liquidate their stocks. When more firms sell their output at the same time the price level starts falling. If a few firms get involved in losses a wave of pessimism runs through the share markets. The firms begin to curtail production. Workers are laid off. The outstanding orders for raw materials are cancelled. The new projects are shelved. The wave of pessimism passes on to other sectors of the economy and the businessmen become panicky and the whole economic system runs into crisis. Then the next stage of business cycle called depression starts. 3)Depression or Trough or downswing – Depression is the most fearful stage of a trade cycle. The phase of depression (also called slump) is characterized by low economic activities, rapid decline in general output and employment. The decline in economic activity is not uniform. There is much more decline in output in manufacturing mining construction transport industries. However there is comparatively less contraction in output in retail trade and agriculture. In slump, there is a marked fall in the average prices of the commodities. The costs are relatively higher the profits of the entrepreneurs decline. The purchasing power of the money is high but due to low income there is too much contraction in effective demand for consumer goods. The expenditure on capital goods or its replacement greatly falls Most of the firms reduce their output or close down. The income of the shareholders goes down. Depression or slump leads to redistribution of national income Profits and wages fall faster relatively to rent and other fixed incomes. The bankers  follow the policy of credit contraction. Due to dull business conditions producers are also reluctant to borrow funds Summing up in a period of slump there is negative net investment by firms falling demand of consumer as well as capital goods high unemployment and low level of imports. In the words of Haberler, Depression is a state of affairs in which real income consumed or volume of production per head and the rate of employment are falling. There are idle resources and unused capacity especially unused labour.’’ In the economic life of the world such acute crises have occurred in the years 1710 1827 1873 1907 and 1929. 4) Revival or Recovery – The economic conditions which we have described in depression phase do not remain as such forever. After sometime revival or recovery sets in under the influence of a variety of factors. The revival phase develops when the accumulated stock of commodities with the businessmen are exhausted. The costs under the impact of prolonged depression begin to fall. The prices which have reached its lowest level stop falling further. There is then complete harmony between costs and price relationship. When profits begin to reappear, the businessmen are induced to invest their hoarded money in some enterprises: In order to steal a march over other industrialists, they start repairs, renewal and replacements of their capital equipments and stocks. The capital goods industries resume activities. There is gradual of labor. The money incomes begin to increase and the effective demand is revived. The government also tries to break the spell of depression by starting construction or expanding some public works with a view to give more employment. The commercial, banks which have accumulated large reserve offer credit on favorable terms. The marginal efficiency of capital begins to rise and investment opportunities brighten up. The consumers start buying commodities to avoid the rise. Due to increase in demand for commodities, investment in various industries is stimulated and thus the revival takes place. The recovery phase of business cycle thus is characterized by rising production, increasing prices of both consumption and capital goods, rising of wages, rates, enlarged opportunities of employment, and greater amount of  spending on consumption and investment goods. Prior to 1940’s, there were frequent booms and depressions in the capitalistic world. However, after the World War-Il, the strong cyclical upswings and downswings have been considerably tamed by the timely applications of fiscal and monetary measures. The fluctuations in economic activity are now moderate. Consequently, the term economic expansion and economic contraction are used now for the terms boom and recession. Both expansionary monetary policy and expansionary fiscal policy are being used to counter the recession. Expansionary monetary policy is basically just lending more money to people; people borrow that money and spend it creating demand in the process. The United States has been using expansionary monetary policy for about 20 years straight now which has directly lead to massive increases in the levels of debt in the economy. Debt levels are so high now that no one can actually borrow any more so monetary policy has stopped working. Monetary policy is at the most expansionary setting possible right now and it is having effectively no expansionary impact on the economy as a consequence of excessive debt levels. Fiscal policy thus is the only option left available to actually rectify the situation; basically all you are doing is spending money through the government thus creating demand in the economy. Measures being taken include tax cuts, other measures being taken include infrastructure spending and extending the length of unemployment benefits. This is basically a Keynesian approach. Keynesian economics revolves around the concept of ‘aggregate demand’ the government can increase the amount of aggregate demand through government spending. A Keynesian approach is fundamentally the right way to go under the circumstances that exist as this crisis is basically a crisis of demand. The classical approach is to do nothing and to rely on the natural robustness of the macro economy to solve the problem. Most macroeconomists agree that this is ineffective if not stupid, but it was first thought to be the solution to the 1929 market crash. The Keynesian approach takes several forms but all of them are supposed to  result in the so called â€Å"multiplier effect† causing the economy to grow once it has been stimulated by making more money available at some place in the social system. Unfortunately it doesn’t work due to this money having to be borrowed or taken from some other part of the system. Keynesian economics is only a partial model and is unable to really show how it might grow. The current Keynesian methods in use are to borrow money from the public and increase the national debt. Also to print more money and use it to reduce this debt, but this means inflation and it is no more effective than that of the greater loans. Inflation is also dishonest because it makes the debt owed by the government of smaller value in terms of what its money can buy. Money is only a representative of wealth, not wealth itself. If the system were one of barter and in the present crisis then more money does not mean more wealth, except for the printers of course. To reduce the rate of interest on the national debt does help to reduce the budget deficit for the next year, but it is not very effective and will not solve the problem at anything like the speed needed. So that with present methods there is no way to get out of the recession. Fiscal Policy When it comes to how fiscal policy affects the economy during a recession, the government has some automatic stabilizers in effect. These items work to automatically stabilize the economy when a recession takes place. With fiscal policies, the government influences the economy by changing how it (the government) spends and collects money. For example, the income tax system acts an automatic stabilizer. When people make less money, they also pay less money in income taxes. Unemployment benefits are another example of an automatic stabilizer. This helps families continue to receive income so that they can keep spending and keeps the economy going. The most common fiscal policy actions in a recession are: †¢Tax cuts for businesses or for individuals – When the economy is struggling during a recession, the government can attempt to help the situation by charging less in taxes. In many cases, the executive and legislative branches work together to cut taxes for Americans. By doing this, it gives  people more discretionary income so that they can spend and stimulate the economy. i.e people and corporations have more money, which may make them more likely to buy things, which increases demand.Once the economy stabilizes, the government can gradually reintroduce the taxes and help keep the economy and the government going. †¢Increase Government Purchases Another way that the government can use fiscal policy to stabilize the economy during a recession is to increase government purchases. The government can use more money to buy goods and services from domestic providers. This increase in sales helps stimulate the businesses. This increases demand for labour, which can lower the unemployment rate.These businesses can then use this increase in income to buy more supplies and expand even further. Once this begins to happen, it can have a positive effect on the entire economy and stabilize the recession by providing more jobs and opportunities for unemployed entrepreneurs. †¢Expansionary vs.Contractionary – One of the arguments among economics on how to use fiscal policy centers around expansionary and contractionary strategies. An expansionary fiscal policy involves increasing government expenditures or lowering taxes so that the deficit increases. By comparison, a contractionary fiscal policy cuts back on government expenditures or increases taxes so that the government can have a financial surplus. Using an expansionary policy can improve the economy in the short-term, but eventually it could hurt the economy as the government’s debt becomes too large. Monetary Policy During an economic recession, unemployment rises while incomes, business investment and consumer spending fall. Monetary policy aims to shorten recessions by encouraging consumer spending and investment. Monetary policy actions can help shorten recessions or reduce their impacts, but economic conditions may limit their impact. In addition, it takes time for policy decisions to be felt throughout the economy at large. Government usually responds to an economic recession through stimulative fiscal policy, expansionary monetary policy or a combination of the two. Stimulative fiscal policy involves higher government spending in an attempt to stimulate the economy. Expansionary monetary policy consists of actions by central banks,  such as the U.S. Federal Reserve, RBI to expand the money supply to encourage more consumer spending and business lending. Expansionary monetary policy actions to battle a recession include the purchase of government bonds by central banks, reducing banks’ reserve requirements, and lowering short-term interest rates. Effects Of monetary policy- The purchase of government bonds by central banks injects more money into the economy. Lower reserve requirements give banks more money to lend because they are required to hold fewer reserves against deposits. Increased lending by banks stimulates business investment and expansion. A reduction in short-term interest rates also encourages more investment by reducing the cost of borrowing. Lowering short-term interest rates also reduces the rates on home mortgages, lowering mortgage payments for homeowners, giving them additional disposable income. Although expansionary monetary policy has the ability to reduce the length and severity of an economic recession, there is no guarantee it can do so. Lower interest rates, for example, may not stimulate consumer spending if consumers have little confidence in the economy. They are unlikely to increase their spending if they believe their jobs are at risk because of a sluggish economy. Businesses may be reluctant to invest in new facilities and equipment for expanded operations if the economy is in a recession. Finally, banks may be unwilling to increase their lending during a recession. Time Frame †¢Another concern about the ability of monetary policy to impact a recession is that the effects of policy decisions, such as a cut in interest rates, will not be immediately felt. It can take more than a year for the effects of lower interest rates to be felt. †¢During the 1991 and 2001 recessions, Federal Reserve policymakers repeatedly cut short-term interest rates to stimulate investment and consumer spending. It took time, however, for the effects to be felt. In 2001, for example, a series of Fed cuts reduced short-term interest rates to near zero. However, consumer uncertainty about the future, resulting from the 9/11 terrorist attacks, coupled with a  distrust of corporate accounting practices resulting from the collapse of Enron, blunted the effects of Fed efforts to expand the money supply. †¢In the end, the course of a nation’s recession is controlled by the actions of everybody living in the country. Anything influenced by so many people is beyond the control of any one person or group — it seems to have a mind of its own. But in the United States, time has proven that attitudes and economic factors shift, and every recession is a temporary recession. Eventually, things turn around and an upward spiral is reestablished. In the face of an economic collapse, the role of the government is invaluable. Governments have the power to avert an impending economic and financial disaster. 1. Encourage exports. The government should focus on the export business segment because it would infuse necessary foreign currencies into the country which would be used to pay debts, import goods and other necessities. 2. Provide Accessible Credit for Business. Local businesses should be encouraged by the government to compensate for unemployment thru extending credit to them. More businesses mean more jobs for the people. Or at least, source of income for the family. 3. Improve Tax Collection. Implement speedy and effective tax collection measures. Taxes can finance government expenditures such as provision of credit to businesses or budgets for social welfare. 4. Set Aside Large Amount Amount for Social Welfare. This will quell panic and riots and restore confidence in the people. Positive outlook will be developed in the process. This will also enable people to get back of their feet and start anew. 5. Control Expenditures in Other Fields. Slash budgets on unnecessary expenditures in other areas – military, legislative, executive, other branches. 6. Improve Tourism. Lure more tourists to the country. More tourists mean more money injected to the economy. Businesses will naturally sprout even small businesses in order to cater to the needs of these tourists. The main problem is the lack of funds as businesses closed and investors pull out their investments. The solution is to encourage the injection of money back to the country. Focus on the solution.

Microsoft Bank Branch of the Future

A Microsoft Banking and Capital Markets White Paper The bank branch of the future 2 The bank branch of the future ContentsRedefining the role of branches 4 > Case study: Nascent Digital — understanding customer needs 8 > Article: The Fiserv perspective — information convergence, interaction specialization and the importance of integrated channels 10 Recognition — selling to a market of one 12 > Case study: CRM at Wintrust Financial and Fiserv 14 > Case study: Customer-centric at the core — First Citizens National Bank and Harland Financial Solutions 15 Engagement — creating memorable touch points 16 > Case study: Digital signage at Reflect Systems and Best Buy 18 > Customer use scenarios: Microsoft Surface at Barclays Bank and Royal Bank of Canada 21 > Case study: Streamlining communications at Fidelity 22 Origination — developing new business opportunities 23 > Case study: Predictive analytics at U. S.Bancorp with Portrait Software 25 > Prof ile: Secure paperless banking with digital signature from Topaz and AssureSign 26 > Case study: Incentives at Bank of the West and Varicent 27 Service — taking customers to the next level 28 > Case study: Next-generation self-service at BBVA with NCR 30 > Case study: Espirito Santo creates a better banking experience with CRM and a 360 degree, integrated view of the customer 31 Innovation — developing new products and services with customers 32 > Case study: Social computing at NewsGator and CME Federal Credit Union 34 Bringing it all together — technologies of channel integration 35 > Article: Creating a consistent customer experience through channel synchronization 36 Having a vision for the future 39 > Profile: Helping customers succeed with ARGO 40 Realizing the branch of the future 41 Microsoft partners appearing in this paper 42 Microsoft in Financial Services Financial services is a major industry for Microsoft ® Corporation. Our commitment to the indus try comprises client-dedicated accounts teams, and technology and industry specialists. Our solution areas embrace almost every facet of the industry, including client experience, governance, risk and compliance, payments, and operating capabilities. The U. S.Financial Services industry group led by Ben Narey is responsible for developing financial services solutions combining Microsoft capabilities with those of our partners, for our U. S. -based banking clients. This is one in a series of thought leadership papers designed to share insight into leading industry issues and help our clients realize their vision of the future. www. microsoft. com/financialservices The bank branch of the future 3 A message to our customers and partners After a significant period of expansion, banks are finding current market conditions tough to say the least. Putting customers first is the right response, and the branch is the place to do that. But the role of branches is changing dramatically. Transa ctions are moving to the Internet, so customers may have fewer reasons to visit branches.In addition, new technologies, such as social networking and personal financial management (PFM) tools, are transforming the relationship with customers, forcing banks to develop new ways to create the right customer experience while empowering customers and giving them more control. If branch visits are less frequent, they must become more valuable and more interesting. The days of existing and potential customers walking into branches and not being recognized or effectively engaged are over. A new era of personalized financial services is forcing banks to sell to a market of one. This means understanding customer needs and addressing them appropriately. This also means moving from a reactive sales model to a proactive one, where customer needs can be anticipated in advance.Thanks to changes in technology, customer expectations of the experience they should receive when they visit the branch ar e rising all the time. But just filling branches with new technology isn’t the answer. There needs to be a plan in place and one developed with customers in mind. The customer should be at the center of the branch operation. The branch of the future is an engaging, interactive and fun environment. It should also be a lower cost one. There is opportunity for a dramatic improvement in branch performance. This means streamlining processes, eliminating paper, and improving front and back-office integration. Branch staff are being asked to play a different role. Branch personnel need constant training to do this.The technology of the branch of the future exists to empower tellers, financial advisors and service representatives to serve customers more effectively, moving from a reactive to a proactive engagement model. Microsoft Corporation has a strong commitment to the branch of the future. Directly and through our partners, we work with financial institutions around the world to develop their own path to improved performance. Many of those solutions are outlined in this white paper. We hope you find this a useful contribution to your future plans and the longer term direction of our industry. Yours truly, Ben Narey Director, U. S. Financial Services Colleen Healy General Manager, U. S. Financial Services 4 The bank branch of the future Redefining the role of branches T A dizzying period of change echnology is changing at a blurring rate.It is at once more social, connected, mobile and continuous. We are seeing game-changing advances in many areas from user interfaces to Internet TV. It’s not just transactions that are moving to the Internet but conversations and relationships as well. In this new world, banks are engaging with customers in very different ways. For some banks, branches are emerging as the new, technology-enabled centerpiece in the relationship with customers — a place where channels and technology converge to create a new era of personalized banking in the branch of the future. Banks face other challenges. Revenues are stalling, margins are under pressure and costs remain high. For many, technology remains fragmented.As banks invest more in customer technologies, they must also reduce costs and improve margins, achieve more with less, and at the same time comply with new regulation. In this constantly shifting story, there are many moving parts, and they must all come together to wow customers without confusing them. The branch of the future is an exercise in innovation that must be competitive, game-changing and ultimately profitable. It must be part of a broader strategic focus that considers all channels, not just the branch itself. It will involve not just a vision, but an ecosystem of partners that can deliver it. Microsoft ® expands its reach by working closely with partners to deliver many of our capabilities, and many of them are included here.In this paper, we lay out a process that a bank cou ld follow in developing its branch of the future story. As steps in that story we include case studies and solutions that we believe are leading edge. We realize that every bank’s journey will be different because each bank will need to develop its own unique approach to the branch of the future. Branches are emerging as a place where channels and technology converge to create a new era of personalized banking. The new alternative channel? Many banks consider the branch to be their primary customer relationship channel. But do customers feel the same way? Today roughly 90 percent of daily transactions take place electronically.Checks may be phased out in most developed economies in the next few years. Branch traffic is on the decline. Are branches the new alternative channel? Does that mean branches are finished? Not necessarily. Bank customers still seem to have a strong affinity to branches even though they may visit them less. But it does mean the role of the branch must c hange and be less dependent on transactions. What should this new role be? To answer that question we must have a better understanding of what customers really want. The bank branch of the future 5 And that boils down to at least three things. Firstly, they want more control over their finances.One of the consequences of the financial crisis is a feeling of greater insecurity and a decline in trust in financial institutions. Thanks to the growth in technology and the disclosures surrounding the financial crisis, bank customers often know more about their banks than banks do about their customers. Secondly, consumers want more choices and are less willing to put all their financial eggs in one basket. They are more willing to change banking relationships and are less loyal to their existing providers. Thirdly, they want a better experience. Banks often measure their performance with customers based on service satisfaction, but service is only part of the equation.The ability to acces s banking services at any time from any location, transparency in fees and simpler contracts, and access to quality, impartial advice all sum up to a new value exchange between banks and customers that may define the next phase of banking. Technology is playing a huge part in transforming the banking experience. Smartphones and slates (tablets) are giving consumers greater mobility. Cloud computing gives all of us easier access to more computing power. Game-changing developments in the technology of communications and natural user interfaces enable new ways for banks and their customers to engage with each other. So what is the transformation in the role of the branch that needs to take place? Snacks, lunches and fine dining experiences Perhaps the experience of other industries might provide us with some clues.Financial services provider Fiserv has equated interaction through banking channels to â€Å"snacking,† â€Å"lunching† and â€Å"fine dining† (see artic le on page 10). As our lives become busier, long, lingering meals become more rare. Snacking has become a way of life, often at our desks rather than at restaurants. So restaurants must work harder for our business. But there are many restaurants to choose from. How do they compete for our attention? Every good restaurant needs its own brand. Often fine food is not enough. It may need a theme or an image. It might be the country of the cuisine. It might be a constantly changing menu. It might be the ability to have snacks, lunch and fine dining in the same location.From the services, to the cutlery and the plates to the interior to the food itself, all these elements may combine to create a unique customer experience. In the case of banking, customers have a choice of channels and therefore experiences. But if most of the channels are mainly about transactions or â€Å"snacking,† then they are likely to prefer fast food to fine dining. For the branch to be attractive, it has to have something else on the menu. Game-changing developments in the technology of communications enable new ways for banks and their customers to engage with each other. 6 The bank branch of the future The branch — where all channels can convergeToday bank channels are like those in the first diagram in Figure 1: independent channels that are mainly about â€Å"snacking. † In this model, it is easy to see how the branch becomes less important as â€Å"snacking† channels grow. But some customers may prefer to research online and get advice in the branch. Their financial journey may involve a combination of visits to different channels at different times, perhaps even for the same service — beginning a journey in one channel and completing it in another. In this way, channels reinforce each other rather than compete with each other for customers’ attention. The new model of bank channels is more like the second diagram in Figure 1. Channels are no longer siloed but mutually reinforcing.Instead of playing a diminishing role, the branch can begin to play a more influential one. But the branch is the one channel where all channels can converge. Like the airline or the restaurant that offers a choice of customer experiences, snacking, lunching and fine dining can all take place in the same location. As a result the branch becomes an easier place to conduct all our banking business rather than the least attractive of all. FIGURE 1 Transforming the role of branches BANKING TODAY BANKING TOMORROW MOBILE MOBILE BROWSER CHANNEL USAGE CHANNEL USAGE BROWSER CALL CENTER CALL CENTER BRANCH BRANCH INDEPENDENT CHANNELS WITH FRAGMENTED IMPACTINTEGRATED CHANNELS AND GROWING INFLUENCE The bank branch of the future 7 Dimensions of branch transformation Microsoft ® believes there are at least five dimensions of branch transformation that can lead to a significant increase in customer experience and financial performance. > Branch design â€⠀ balancing networking with privacy, access and convenience > Talent — more focus on advice and expertise and less on transactions > Channels — integrated and mutually supportive > Innovation — customer driven, building on experiences and solutions > Brand — unique and customer driven In each of these dimensions, technology has a major role to play.But the real challenge is to empower each dimension so that they operate together to enhance the customer experience, improve revenues and reduce costs. A fragmented approach will simply increase costs, confuse customers and reduce financial performance. Effective branch transformation demands an enterprise-wide blueprint. A project to build nextgeneration ATMs needs to take into consideration the opportunity to empower and integrate other channels. A project to introduce digital signage should consider not only the customer experience, but the ability to improve staff performance as well. The introduction of digital signatures and automated account opening should consider the implications for document management and records keeping.We are not just transforming branches but creating a completely new retail banking business and operating model to deliver a higher standard of customer experience. A continuous process of performance improvement Branch activities should involve a continuous process of performance improvement based on an in-depth understanding of customer needs with the goal of deepening customer relationships. > Recognition — selling to a market of one > Engagement — creating memorable touch points > Origination — developing new business opportunities INNOVATION FIGURE 2 A continuous process of performance improvement RECOGNITION ENGAGEMENT CUSTOMER RELATIONSHIP MANAGEMENT gt; Service — taking customers to the next level > Innovation — developing new products and services with customers Ideally, almost all these activities should be capable of taking place at any part of the branch, whether at an ATM, in a teller line, at a teller booth, or in discussions with a service advisor or a banker. But if executed effectively, one step will lead to another, creating a positive loop of continued performance improvement. (See Figure 2. ) SERVICE ORIGINATION 8 The bank branch of the future CASE STUDY Nascent Digital — understanding customer needs It’s easy to spend money on technology. But it is more important to understand what customers really want from their branch before embarking on an ambitious program of investment.The whole point of investing in branches is to improve the relationship with customers. So why not begin by understanding what customers really want? Nascent Digital (www. nascentdigital. com) is one of the market leaders in the field of combining market research with the design and development of technology. As a result, Nascent is able to create rich and relevant connections with customers from business applications to educational and entertaining experiences. Having previously deployed experiences on multiple mobile and touchscreen platforms such as iOS, Nascent has eased into working with the cutting-edge Windows Phone 7 and Slate devices.Nascent Labs’ mobile platform enables it to quickly develop game-changing Windows Phone and Slate applications connected to Facebook, Twitter and other social networks. It has also played a major role in the development of Microsoft Surface technology. Bank customers seek digital experiences that are unique and engaging. To that end, Nascent’s unique design-led approach employs research, in-depth experience design and early rapid prototyping. These methods enable insights into how to realize the best possible digital customer experience. Nascent has partnered with Microsoft ® to envision the possibilities for Slate computing in the branch of the future. The design process and resulting prototype yielded insights into mul tiple new possibilities for customer interaction, relationship building, and ustomer-associate collaboration on everything from day-to-day banking to financial planning and advisory. Building on Windows Phone 7 Metro design language, Nascent was able to create a single digital interface that unifies the customer mobile experience with a collaborative sales experience in the branch. By understanding customer needs upfront, banks can ensure their technology investments truly provide customers with the experience they desire. The bank branch of the future 9 Nascent begins by compiling and distilling existing research to form a basis for further inquiry. Industry best practices, existing published research and open access data are evaluated to focus their primary research.Focus groups and discussions led by expert coordinators are directed to reveal a deeper insight into the ideal digital experience for the user base. Once the research phase is complete, the experience design process be gins to output a series of visual representations that can be easily transformed into a rapid prototype. Early prototyping enables innovation by bringing vivid experiences to life quickly for early user testing. (See Figure 3. ) By understanding customer needs upfront, banks can ensure their technology investments truly provide customers with the experience they desire, and thus are successful in empowering their branches with new technology.By reconciling customer needs with the bank’s own strategic direction the bank is more likely to develop a business model that works. It may take more time to get it right first time, but in the long run it is a quicker and much more effective path to innovation. FIGURE 3 The Microsoft Nascent discovery process UNDERSTANDING THE CUSTOMER CONCEPT DESIGN VISUAL DESIGN CONCEPT TESTING > Secondary market research > Primary market research > Industry best practices > Brainstorming > Wireframes > Context design > Information architecture > Appl ied cognition > Concepts > Brand expectations > Game-changing experiences > Matched audiences > Usability testing > Final design blueprint 10The bank branch of the future ARTICLE The Fiserv perspective — information convergence, interaction specialization and the importance of integrated channels The way financial institutions deliver services across banking channels is being profoundly impacted by two significant shifts. First, there is a demand for â€Å"information convergence† across channels. Consumers expect information about transactions completed via one channel to be readily accessible via another, and expect to be able to initiate a transaction in one channel and complete it in another. Second, there is a significant degree of â€Å"interaction specialization† taking place within each channel.This interaction specialization is driven by the unique properties of each channel, which determine the primary activities conducted through the channel. Consumer s have different habits and preferences about which channels they use to accomplish different financial tasks. For day-to-day needs, consumers generally prefer self-service via digital channels — mobile and online – respectively, the fastest growing channels. Fiserv characterizes interaction via the mobile channel as â€Å"snacking. † From a financial services perspective snacking encompasses frequent interactions that take less than 60 seconds. This includes tasks such as checking balances, receiving alerts and paying bills.One Fiserv financial institution client sees an average of 26 logins to mobile banking per user, per month — proof of their desire to consume financial services information in quick, frequent servings via the mobile channel. The bank branch of the future 11 The snacking analogy can be extended to the online channel and to the branch as well. The online channel serves up the financial equivalent of a square meal. Consumers go online wh en more browsing and a slightly deeper level of engagement is required. This includes tasks such as comparing products, managing budgets and setting up preferences. These types of activities usually occur on a weekly or monthly basis.The branch is for fine dining, those special occasions where more personal service and in-depth interaction is required. This includes advisory services and overall relationship management, encompassing critical decisions that require consultation and typically occur infrequently. As a leading global provider of digital channel solutions for financial institutions, Fiserv perceives that the shifts toward information convergence and interaction specialization will create challenges for financial institutions. Delivering consistent information across channels will require back-end integration and real-time functionalities that are often not in place today.This will be further compounded by device proliferation, the rise of tablet computing and the blurrin g of lines between social media as an interaction platform and a transaction platform. In addition, interaction specialization will require that financial institutions tailor services for specific channels. This will most impact services delivered via the mobile device, as financial institutions will be expected to support â€Å"mobileonly† services such as remote deposit capture for checks, location-based offers and contactless payments via near-field communications (NFC) technologies. Beyond self-service, the mobile device is also likely to become a banking platform for different types of interactions.In this context, financial institutions are under attack from nontraditional players — such as mobile operators and consumer brands like Apple — that would like to gain access to both customer information and transaction revenue. Financial institutions have much to consider when it comes to effectively serving consumers. An integrated channel strategy that incorp orates the unique attributes of mobile solutions as part of an overall approach is a winning strategy. Consumers expect information about transactions completed via one channel to be readily accessible via another, and to initiate a transaction in one channel and complete it in another. 12 The bank branch of the future Recognition — selling to a market of one T 84404893YHQAM235-4747343 ougher markets demand deeper, more profitable customer relationships.The need for banks to treat each customer as unique is more important. New technologies such as digital marketing and predictive analytics are making it easier to sell to a market of one. Personal recognition When customers come into the branch it helps to recognize who they are and make that information available to key members of the branch. An RFID tag can be part of that process. Embedded in a debit or credit card, it can identify customers as soon as they enter a branch. Through access to a customer relationship managemen t system (CRM), bank staff can have complete access to relationship details to understand the next step in the customer story.But potential customers also visit branches, sometimes just by chance. These are opportunities that need to be captured. Applications that allow branch staff to identify customers from personal IDs such as driver’s licenses or Green Cards, identify their credit history and then immediately direct them to a service opportunity, can replace paper-based processes that could take days, weeks or even months to complete, if at all. But technology is changing the concept of â€Å"branch† from a physical to a virtual concept. Valerie King Through access to a CRM system, bank staff can have complete access to relationship details to understand the next step in the customer story. Digital marketingDigital marketing is not just a technology, it is also a channel. In fact, it is many channels and embraces every aspect of digital media including TV, the Inte rnet, mobile phones and social media, and even older technologies such as radio. Whenever we click on a Web site, we create digital breadcrumbs that leave behind clues about our interests and preferences. They provide important intelligence about our real needs that marketing departments can respond to. Recognizing a customer through his or her digital identity gives a bank the opportunity for new customer touch points, more targeted campaigns and services more closely aligned to customer needs.Thanks to this approach one financial institution in the U. K. generates more revenue through inbound marketing than through any other channel. Social networking Social media generates conversations about brands and customer experiences that banks can follow. Airline companies in particular have been successful in using social networks as a customer service tool, allowing them to respond proactively to individual issues and concerns. The bank branch of the future 13 Some social networking sit es — Foursquare, Gowalla, Loopt and Facebook Places — allow members to share their locations with other members. This can provide promotional opportunities for businesses.For example, each time someone checks in to a Hard Rock Cafe in the United States using Facebook Places, Hard Rock International donates a dollar to WhyHunger, a charity fighting global poverty and hunger. The offer lasted through December 2010 — an innovative way of gaining customers and promoting Hard Rock’s commitment to philanthropy. Social networking is not just about customers. It’s about staff as well. Enterprise social networking is a vital collaboration tool that enables bank talent to share knowledge and expertise across the bank. By its very nature, a branch is a decentralized part of the bank, but for many customers it is their most important interface with the bank.Keeping branch staff up-to-date with the latest products, services and regulations and making them feel an essential part of a much bigger organization is essential for their morale and their ability to serve customers effectively. Social CRM To be successful, branches must be part of communities — and communities can be both physical and virtual. Branches have been successful at integrating into physical communities, but less successful in penetrating virtual ones. Microsoft’s CRM system comes with a social networking accelerator that allows branch offers to follow the customer chatter about service needs, reactions to products and feelings about the bank generally. Having a panoramic view of customers clearly creates a competitive advantage.Microsoft Dynamics CRM, together with Microsoft partner Customer Effective, creates an advanced CRM solution leveraging Customer Effective’s expertise in implementation and data integration. Why do so many CRM systems fail to meet expectations? Because they are often stand-alone implementations and are not an integrated part of a complete customer relationship management solution linking customers, services, channels and systems to create a higher level of customer experience. To be successful, branches must be part of communities — and communities can be both physical and virtual. 14 The bank branch of the future CASE STUDY CRM at Wintrust Financial and FiservWintrust Financial, a Chicago-based financial holding company with more than $14 billion in assets, is implementing EnActâ„ ¢, its relationship sales management solution for financial institutions. EnAct is built on Microsoft Dynamics CRM, so it is delivered as an extension of Outlook and integrates seamlessly with Microsoft Office applications, making it intuitive and easy to use. Using the EnAct solution from Fiserv, Wintrust Financial’s bankers will now have a holistic view of client relationships with access to sales productivity tools to execute local outreach programs, track relationship management and prospecting activities , and monitor opportunity pipelines.EnAct leverages Microsoft Dynamics CRM and is designed to serve the distinct needs of banks’ primary lines of business — Retail, Commercial and Wealth — enabling Wintrust Financial to deploy a single, banking-ready CRM solution enterprise-wide. In implementing EnAct, Wintrust aims to better support collaboration across its organization, enabling referrals between divisions and facilitating team-based management of high-value relationships that span multiple business lines. â€Å"We empower our community banks to manage their clients and their markets locally, but we also want to leverage our combined scale and use the most advanced tools to serve our customers and grow our business,† said Tom Ormseth, senior vice president, Wintrust Financial. As part of our expansion program, we identified the need for an enterprise customer relationship management solution and we chose EnAct because it provides us with specialized ban king functionality on a versatile technology platform. We felt Fiserv was the right partner for us because they understood our business and had the experience and know-how to help us succeed. † Wintrust Financial recognized that lack of user adoption is a common pitfall of CRM projects, so deep integration with Outlook was considered an important benefit of EnAct. Outlook is integral to bankers’ workday at Wintrust; it’s where they manage their time, contacts, tasks and email communication with clients and colleagues.EnAct is built on Microsoft Dynamics CRM, so it is delivered as an extension of Outlook and integrates seamlessly with Microsoft Office applications, making it intuitive and easy to use and encouraging end-user adoption. â€Å"By expanding its relationship with Fiserv, Wintrust joins a growing family of banks that are using EnAct to help execute their growth strategies,† said David Dervish, managing principal, Customer Value Enhancement, Fiser v. Wintrust Financial began its initial rollout of EnAct to a pilot group of more than 200 commercial bankers in December 2010 and is continuing implementation to a total of 1,400 users across 15 community banks as well as its various wealth management and specialized financial services divisions.To complement EnAct, Wintrust Financial also licensed Aperioâ„ ¢ Campaign Management and Aperio Customer Analytics. These solutions will help Wintrust analyze customer needs, identify opportunities and better manage centralized marketing campaigns that support local business development initiatives. The bank branch of the future 15 CASE STUDY Customer-centric at the core — First Citizens National Bank and Harland Financial Solutions After 15 years of fighting for market share in its Mason City, Iowa, home market, First Citizens National Bank (FCNB) was at a crossroads. â€Å"We grew by mining market share from the larger players,† explains Gregg Maakestad, FCNB’s SVP and CIO. To maintain our head-to-head competitive status we needed to challenge and exceed their capabilities. † But by 2009 FCNB’s item processing and marketing customer information file (MCIF) solutions had become inadequate. Rather than install point-solutions, FCNB, a subsidiary of First Citizens Financial Corp. ($1. 1 billion in total assets), determined that a core systems modernization would provide capabilities beyond just meeting current needs, Maakestad relates. A long-time user of the Phoenix System from Lake Mary, Fla. -based Harland Financial Solutions, FCNB nonetheless conducted due diligence in early 2009. â€Å"With every contract cycle we look at all options,† notes Maakestad. Because Harland is an open-systems vendor that shares all its database tables, we learned the strategic value of leveraging database tables,† he adds. â€Å"Therefore, we evaluate vendors’ willingness to share tables as a significant selection criterion. â₠¬  In fact, using the tables has become a critical best practice at FCNB. â€Å"We use the tables to supplement vendor-supplied reporting and modeling,† Maakestad explains. â€Å"For example, when Reg E [governing electronic fund transfers] was updated, †¦ we calculated the impact on our organization’s revenue immediately. And we’re doing the same now for the Durbin Amendment [regarding debit card fees]. † According to Maakestad, Harland’s latest platform, the Microsoft .NET-enabled PhoenixEFE Core, was the best solution for FCNB, leading to a late-2009 migration. â€Å"Beyond our existing hardware, PhoenixEFE only required setting up two production [IBM] XM servers and two for disaster recovery,† Maakestad reports. â€Å"There were no showstoppers in the new core system — just some minor items [that Harland is improving]. † During 2010 FCNB added Harland’s ActiveView Item Processing solution and the vendor’ s business intelligence tool, Touche Analyzer. And early this year the bank also integrated Touche Messenger, which draws intelligence from Analyzer for targeted multichannel marketing communications. The results have been impressive. PhoenixEFE has been key to achieving our current efficiency ratio of 47. 5 percent,† says Maakestad. †In addition, our item processing is simpler and our read rates have improved 15 percent. Also, the Touche solutions will be vital to moving our services per household from the current 3. 493 to our 2011 goal of 3. 516. † The new platform also enabled FCNB to replace multiple daily ATM and debit card batch processes with near-real-time transactions. And, over the next couple of years, the modern core will allow the bank to add more online and mobile products to its existing offerings. â€Å"As new opportunities mature, we’ll jump into them with both feet,† Maakestad says. In short, our new core platform has made us more c ustomer-centric and more efficient, positioning us for future growth. † CUSTOMER 16 The bank branch of the future Engagement — creating memorable touch points C Microsoft Surface offers an eyecatching way of bringing people together to connect, learn and decide. It changes the way people collaborate. apturing customers’ attention inside or outside the branch is easier with memorable touch points. Distinctive interactive walls, compelling messaging and outstanding presentations all contribute to a better customer experience. Cool toys, personalized advice and cross-channel integration are all essential tools for capturing the customer’s attention.But they all have to work together and be targeted at customers who are likely to respond to them. Surface technology Exploring financial options with an advisor or with your partner? Or just browsing? Microsoft Surface offers an eye-catching way of shopping for services, bringing people together to connect, learn and decide. It changes the way people collaborate and connect. Microsoft Surface sees and responds to touch — supporting more than 50 simultaneous inputs. This experience comes to life in the new 40-inch Surface that can be used as a table, on the wall, or embedded in other fixtures or furniture. What-if scenarios are a lot more fun when you are working with Surface. But Surface can be more than just an eye-catcher.It can be a complete distribution channel in its own right, allowing customers another opportunity for self-service banking — snacking in the branch or browsing the menu while waiting for a table for some private dining advice. Interactive walls While customers wait in teller lines, wait for a financial advisor or just wander through branches, interactive walls can provide engaging interactions and compelling messaging for the financial shopper. Browsing for a car loan or a mortgage? Explore your options on an interactive wall. By touching it you can get the latest rates, explore financing options and do your homework before making a financial decision.Digital signage Wondering what the markets are doing? Curious about news and events in the community? Intrigued by a message from the chairman? Digital signage is a term used to describe the display of up-to-the-minute information on electronic devices such as plasma screens, LCD panels and projectors. Suppose it’s raining outside and there are more customers inside the branch and you want to change your electronic messaging to talk about new products and services. Managing the metadata in your digital signage system gives you that flexibility. The bank branch of the future 17 What if branches are serving Spanish-speaking customers in one location and English-speaking in another?Digital signage tools provide the flexibility to communicate different messaging to different markets. Digital signage can be used wherever there is a need to communicate to individuals or large groups of people. Wherever there is static signage, there is potential to replace it with digital signage. (See Figure 4. ) Founded in 1991, Omnivex originally supplied software to financial trading floors to post buy/sell positions on large LED wallboards and drive financial tickers. Trading floors were quick to adopt large plasma displays to monitor television news reports. Omnivex recognized that these displays could also be used to help traders clearly spot market trends and developed applications to display data graphically.Building on its foundation of a data-driven system, the company moved into the broader digital signage market, where its software could be used to display real-time information to facilitate decision-making by delivering targeted content to specific audiences. Financial institutions quickly adopted this medium within the retail banking industry, and we now see digital signage installations appearing more and more frequently in bank branches to communicate with custome rs and employees. Due to its data-driven approach, Omnivex digital signage software can deliver the right message to the right audience at the right time, helping to increase the effectiveness of communications. In branches, new products and services, promotional campaigns, market data, corporate communications and training materials can be delivered instantly, easily and memorably.In addition, digital signage can improve the customer experience by reducing perceived wait times, while entertaining and informing customers. Today, Omnivex software is used by many financial institutions around the world to power their digital signage networks. FIGURE 4 Microsoft partner Omnivex and digital signage 18 The bank branch of the future CASE STUDY Digital signage at Reflect Systems and Best Buy Banks have often been influenced by the success of retailers. Microsoft partner Reflect Systems is a leading, national full-service provider of in-store digital media solutions including digital signag e, interactive applications and assisted shopping features, mobile messaging, and in-store music.Reflect worked with Best Buy and its partners to deploy a solution that fit its vision for enabling networked digital media in all its stores, while adhering to business policies and preferred technology standards. Best Buy needed to improve the shopper experience with relevant and timely media content, showcase products and services with brand partners, and capture revenue opportunities available by leveraging the platform as a new digital media network that connects with loyal Best Buy shoppers. After methodical lab testing and pilot programs, Reflect employed ReflectView, its industry-proven scalable software solution, to meet the challenge of managing and distributing large amounts of digital media across Best Buy’s complex network of more than 1,100 locations across the United States.Through its flexible content management, programming, distribution and monitoring features, R eflectView allowed Best Buy to control the specific message played in each store — at any given time, in any specific region — from a centralized system requiring minimal operational management. Today, Best Buy has increased its in-store digital media footprint to include television and computer displays in the electronics department, checkout aisles and music via in-store audio systems. Best Buy has a fast-paced business environment that requires a dynamic approach to supporting new in-store initiatives. Reflect continuously strives to provide a platform approach for in-store media, and maintains a partner-focused solution set that provides choice, performance and measured results.Through its flexible content management, programming, distribution and monitoring features, ReflectView allowed Best Buy to control the specific message played in each store from a centralized system requiring minimal operational management. The bank branch of the future 19 FIGURE 5 Financia l benchmarking with Bundle Next-generation banking Next-generation ATMs, line busting, interactive walls and smartphone channels all converge together in a unique customer experience that targets customers from Gen Y to baby boomers. A common user interface is key to a compelling customer experience that recognizes the branch as a focal point in building enduring customer relationships. The technology of Kinect can provide in-branch entertainment as well as more engaging customer interactions replacing transactions with conversations.Personal financial management tools Technology has made it easier for customers to do research and resolve issues online. Branches are a perfect place for that research to take place. If the customer is already in a branch and wants to do some research or use automated tools to perform financial calculations, budgeting and planning, resources should be available for independent and banker-assisted research and planning. Options to consider include the f ollowing: > A dedicated bank of PCs for independent research > Interactive walls to explore financial options > Surface technology to explore different products and solutions Bundle is an example of a personal financial management tool eveloped by Citi, Morningstar and Microsoft, which allows consumers to compare how others spend their money. (See Figure 5. ) FIGURE 6 At Banco do Brasil, a customer explores financial options through an interactive wall. 20 The bank branch of the future Private, face-to-face advice Have tablets replaced desktops or have they just empowered them? By deploying both, branches have more options for face-to-face advice. It can vary from line busting to a confidential meeting with a private banking client. Technology may be needed to support those discussions, accept deposits, sign documents or review financial plans. Tablet technology can play an important role, and there are many providers to choose from.Companies like Motion Computing, HP and ExoPC offe r slate models in addition to the iPad. Motion Computing, in particular, specializes in manufacturing tablets designed for the needs of individual industries. (See Figure 7. ) FIGURE 7 Customized industry devices from Motion Computing Windows slates combine the ability to consume information and present it to clients with the full production capabilities of a PC. They are also secure and interoperable with other technologies. Incorporating your tablet solution into a complete branch experience demands the ability to interact with other devices, applications and systems. Bankers and financial advisors don’t just meet clients in the bank. They may also visit them in the home.The concept of a mobile sales force attached to the branch is not a new one. But for such a team to be effective it will need to be empowered by technology. Mobile technology can be used for customer presentations, the review of different products and services and the completion of documentation. (See Figur e 8. ) FIGURE 8 A selection of Windows slates (in order of appearance, the Asus E121, Motion’s CL900, the HP 500, the ExoPC and the Fujitsu-STYLISTIC Q550 Slate PC) The bank branch of the future 21 Customer use scenarios: Microsoft Surface at Barclays Bank and Royal Bank of Canada Barclays has opened a new flagship branch at Piccadilly Circus in London.The bank describes the project as â€Å"the first ‘brand concept’ branch in the UK,† covering 8,000 square feet of retail space over three floors. With the opening of the branch, Barclays became the first bank in Europe to pilot Microsoft Surface. Infusion was engaged to create a Surface program that allows users to â€Å"grab† digital content with their hands and navigate information about Barclays’ Premier banking offering with simple gestures and touches. Royal Bank of Canada has partnered with Microsoft to provide customers with an interactive banking experience through Surface. The impleme ntation of Surface creates a fun and interactive way for RBC to inform its customers about their financial services.RBC found that giving customers a way to learn about their financial goals through interactive applications, such as Infusion’s application for Surface, is a great way to ease customers into initiating conversations about complicated financial topics. Client communications When was the last time any of us wrote or received a letter? The way we communicate is undergoing profound transformation. Whether we communicate through laptops, slates or smartphones, electronic communication is becoming pervasive. In this new chapter of communications there are risks and rewards implying profound changes in the way we develop, share and exchange information, even the way we work and play. The rewards are clear — richer and more frequent client conversations, better research, more informed insight, more accurate presentations.But the risks can be great as well. The in formation we create can be instantly shared through flash drives and across the Internet. Clients, markets and regulators are holding us more accountable for what we say and how we say it. The one-off presentations produced in local offices that differ across the firm should become a distant memory particularly since even small differences in client communications can have regulatory implications, dilute brands and confuse clients and markets. The world is changing at a dizzying rate. Client communications must be timely to add value, but with current technology it can also be too costly and time consuming to develop frequently.A 100-page pitch book for a key client meeting may require data and content from many sites, sources and databases, much of it captured manually. What if the process could be automated, branding managed centrally and compliance built into the process in advance? Microsoft’s partner Xinnovation has the solution — the ability to produce automated presentations within minutes that are compliant with regulations and firmwide brand management standards. Whether we communicate through laptops, slates or smartphones, electronic communication is becoming pervasive. 22 The bank branch of the future CASE STUDY Streamlining client communications at Fidelity Xinnovation streamlined Fidelity’s 22-day data intensive, increasingly complex investment review process into just a few simple hours.Quite impressive when you consider these specialized, targeted presentations can run up to 100 pages chock full of dynamic charts and graphs, which draw from backend data systems. (See Figure 9. ) Fidelity turned to Xinnovation and its Web-based, Microsoft ®-standard XiDocs document automation platform. XiDocs includes easy-to-use features that enable rapid development of solutions. XiDocs features include content management, configurable assembly and publishing of highly customized Microsoft Word, PowerPoint and PDF documents, data-driven Excel charts and graphs, enterprise content, and workflow — all living natively inside Microsoft Office SharePoint Server.It gets better — Fidelity and Xinnovation implemented a direct XML connection with Fidelity’s print and fulfill vendor to maximize workflow capabilities. And if that is not enough smart for one day, Xinnovation’s technology enables Fidelity to provide its reports through its client portal and extend a â€Å"greener† process. FIGURE 9 Automated document generation with Xinnovation The bank branch of the future 23 Origination — developing new business opportunities O ne of the toughest challenges banks face today is origination. This is particularly true in a low-growth environment. So it is important that banks have a clear understanding of where their opportunities lie.Most banks have a marketplace that can be split into three parts: > Customer enthusiasts — customers who are enthusiastic about their relationship w ith the bank and want to expand it > Customers on the fence — customers who are indifferent to their relationship with the bank but could be swayed one way or another > Dissatisfied customers — customers who are about to leave and are waiting for the right opportunity to move on. Against this mix there are further segmentation opportunities. The challenge is to find the right marketing and distribution mix for each customer segment. For example, Bank of America identified the mass affluent as a â€Å"must-win† strategic market.The bank worked with Merrill Lynch to target services to a specific part of its target — the mass affluent — which it defined as customers with investable balances of about $200,000 or more, but not superwealthy. The bank reasoned this group of customers were occasional investors rather than active traders and so offered them 10 free trades a year to boost their loyalty and deepen their relationship. Where does the branch fit in to this mix? Should it be the preserve of a few customers, or is there a way for it to play a role across all sectors of the market? One way of approaching this is to think of the branch as a networking opportunity, emphasizing its social rather than its transaction role.Targeting families, small businesses, emerging entrepreneurs or local clubs and associations reinforces the role of the branch as a focal point for the community. Financial seminars targeted at local entrepreneurs, pension advice for boomers, and financial services for college students are examples of programs that bring traffic to the branch and reinforce its role as a critical part of the local economy. With branch traffic up, the next step is to make it easier to open accounts, browse new services or get financial advice. Increasing self-service facilities — not just ATMs, but interactive walls and Surface devices as well — within the branch is one way of achieving this. But technology doesnâ₠¬â„¢t have to exclude the human element.Enabling bank staff to assist customers through video links on next-generation ATMs and other self-service channels reinforces the relationship between banker and customer rather than excluding it. 24 The bank branch of the future Some of the tools to consider include the following: > Targeting customers through predictive analytics — Reaching out to customers can be costly for several reasons. Along with more traditional campaign costs, companies often fail to take into consideration any negative impacts that a campaign may have in terms of driving customers away or driving customers to consider alternative offers. Predictive analytics plays a critical role in minimizing negative campaign responses and ensuring that campaigns are targeted and effective.This also includes maximizing opportunities for cross sell and retention in the key instances when customers are engaging via inbound channels. Gathering a single view of your customers across all touch points is a critical step in understanding your customers’ needs, and delivering the best possible customer experience to drive customer value in the long term. Whether customers are online, talking to a call center or in the branch, it is important to have a clear picture of who those customers are, and what particular offer, be it cross sell or retention, is best to present them at that moment. One insurance company found that by optimizing customer nteractions in this manner it was able to sell more through inbound channels than through all other channels combined. > Managing customers’ time when they are in the branch — By enabling branch staff to reduce queuing at teller counters they can also engage with customers and explore other service opportunities. A handheld computer device can accelerate deposits, account inquiries, transfers and other simple transactions. Line busting can turn unproductive wait times into business opportunities. S cheduling and calendaring linked to digital signage solutions can manage appointments with branch staff and expectations with customers who might otherwise be unclear when they would be seen. gt; Making it easier to access new services through paperless banking — If a customer wants to open a new account or obtain a new line of credit but has to wait for the paperwork to be completed, that just adds time and cost to the onboarding process and delays revenue realization. It can also frustrate customers and cause them to look elsewhere to meet their needs. Years of paper-based processes may need to be revisited to improve customer experience, improve margins and increase security. > Marketing through self-service transactions — Originations should be possible within the branch through any channel, whether through a bank of PCs, through next- generation ATMs, or call centers accessed from within the branch. Surface devices and interactive walls can be both a source of inf ormation and origination channels.Self-service channels are mainly for existing customers, but it should be just as easy for new customers to become activated through them as well. > Banker-assisted originations — Often completed through paper documents, the origination process can involve several stages, and many documents — account opening forms, signature cards, loan agreements — but if converted Gathering a single view of your customers across all touch points is a critical step in understanding your customers’ needs, and delivering the best possible customer experience to drive value in the long term. The bank branch of the future 25 into electronic form can be completed quickly and easily but still securely while the customer remains in the branch.This shortens the origination process considerably. The problem is how to accomplish this in a secure way. The growth in eSignature technology and supporting regulation (the ESIGN Act and UETA) makes this a much easier option for many banks. > Tellers as relationship managers — Probably the one personal contact the bank customer has the most frequent engagement with is the bank teller. Yet this is the one interaction we want to get over with as quickly as possible. A friendly interaction with a teller can play an important part in origination. But for that to happen the role of tellers within the branch must change and they must be managed very differently as a resource.The first challenge is to manage traffic within the branch to reduce the pressure of a short and pressured interaction. Secondly, tellers’ productivity has to be improved by giving them access to technology that enables them to process transactions more easily. Finally, tellers should know who their customers are, reinforcing the importance of the personal connection. Branch recognition technologies and access to CRM systems can help tellers play a pivotal role in strengthening customer relationships. CA SE STUDY Predictive analytics at U. S. Bancorp with Portrait Software Pitney Bowes Business Insight (PBBI) is a Microsoft Gold partner that leads the pack in the field of predictive analytics. The Consumer Direct division of U. S. Bank, a subsidiary of U. S.Bancorp, found that its traditional marketing campaigns were not delivering the returns they once were, and was failing to target customers with the most relevant message. After two successful trials, U. S. Bank implemented PBBI’s Portrait Uplift solution and has since achieved significant gains — a 300 percent lift — in incremental revenue together with reduced costs through lower mailing volumes. U. S. Bank is just one of several customers in different industries that have found PBBI’s Portrait suite of analytics solutions to be of immense value. Selling to a market of one is a challenge across all industries, financial services in particular. U. S. Bank has achieved significant gains in incremental revenue together with reduced costs through lower mailing volumes. 26 The bank branch of the futurePROFILE Secure paperless banking with digital signature from Topaz and AssureSign We are all familiar with digital signature in the retail environment, even in insurance. A number of leading banks have begun to adopt the process, but in financial services the technology of digital signature is still in its infancy. Whether we are opening a bank or brokerage account or applying for a loan there is usually a lot of paper involved. But paper takes time to process, must be stored and can easily be lost. Plus we need a more reliable way to ensure documents have been signed and stored as securely as possible. Is it time for a fresh approach? Many businesses around the world are saving money by replacing paper processes with electronic signature and document solutions. In the U. S. the ESIGN Act gives electronic signatures the same legal significance as paper signatures, provided the customer consents to the process. Various forms of eSignature exist from a simple click to sign to robust biometric signatures written on electronic signature pads that record the precise shape and sequence of the signature, its strokes and direction of loops, and detailed timing of each part of the signature used in the signing process. Another form of electronic signature that does not incorporate biometrics — the digital signature — uses asymmetric cryptography to ensure documents can be protected once they are signed and any changes related back to the original signer.The technology of eSignature and digital signatures is now available across multiple devices and can be deployed locally or at an enterprise level. Mainly deployed in the public sector and in the retail, healthcare and insurance industries, this technology has already been adopted by a number of leading banks to improve the speed and security of banking document processes. Such efficiencies are leading the ch arge in enabling bank branches to become paperless. AssureSign (www. assuresign. com) and Topaz Systems (www. topazsystems. com) are leaders in the field of electronic signature and document management. FIGURE 10 Topaz eSignature software technology can be deployed across the Web and directly with its biometric electronic signature pads. Biometric signatureAssureSign is a software-as-a-service (SaaS) or on-premise electronic signature solution that allows signers to execute documents via web portal interactions, captures the â€Å"act of signing,† email invitation or in-branch scenarios. AssureSign easily integrates with existing not an image of a signature banking and financial services applications to provide a paperless document execution process. AssureSign can also work alongside Topaz solutions to bridge the gap between in-house and external web-based signing requirements in a FIGURE 11 A biometric signature using AssureSign single platform. AssureSign solutions offer a variety of front-end signer authentication options as well as Electronic Signatures in Global and National Commerce Act (ESign Act) and Uniform Electronic Transactions ACT (UETA) compliant signing processes.Topaz Systems offers a broad array of electronic signature pads for use in teller- and nonteller-related transactions, along with bundled software, authentication and server tools, and plug-ins. Topaz solutions provide the capability for corporations to deploy their technology across any Web-based service and on any device, whether tailor-made or generic. Topaz signature pads are available in color and monochrome versions, wireless versions for use in drive-up teller environments, and pads that capture simultaneous electronic and paper signatures up to full legal clipboard size. (See Figures 10 and 11. ) The bank branch of the future 27 CASE STUDYIncentives at Bank of the West and Varicent If branch staff are to play a different role in the branch of the future, the question tha t arises is whether they should be compensated differently. To meet this challenge, Bank of the West chose Varicent SPM to manage incentive compensation and sales performance throughout the organization. Varicent’s SPM solution was chosen by Bank of the West because of its ability to provide a single system for all compensation plan management that easily integrates with all other existing systems within the bank. Varicent is an industry leader in providing incentive compensation (ICM) and sales performance management (SPM) solutions.Bank of the West, based in San Francisco, offers a full range of business, corporate, personal, trust and international banking services and operates more than 700 branch locations and commercial banking offices in 19 Western and Midwestern states. â€Å"Varicent’s solution will provide us with the unique ability to more effectively analyze important compensation and sales performance metrics. We will also use Varicent to improve the accu racy of our forecasts and to create effective sales incentive models that can drive the right behavior and maximize our future performance,† said Donald Duggan, senior executive vice president and CIO at Bank of the West.Varicent’s approach offers a lower total cost of ownership than alternative solutions and in-depth sales analytics to help understand performance, allowing for accurate forecasting and modeling of future plans. Streamlined administrative processes include the managing an