The BFSI sector is among the quickest respondents when it comes to technology adoption. From electronic transactions to mobile app banking, the BFSI sector has always kept evolving, making banking, financial transactions, investments, etc., even more straightforward and tech-based for its customers.

What next, now? The banking sector is geared up to embrace the next tech revolution. And that’s AR/VR! They have been a boon to the future of banking Industry with immersive customer experiences leading to higher user engagement, seamless banking solutions and quicker expansion. This is evident from the many existing and potential applications of Augmented Reality and Virtual Reality. Let’s look at some.

7 Applications of AR/VR in the Banking Sector

From the inception of virtual branches to VR-based payments, AR/VR has a massive potential to revolutionize the banking and finance sector, which is steadily upgrading to AR/VR.

  1. Virtual Trading

Mobile applications have simplified online trading significantly. However, IT service providers are leveraging virtual reality in their wealth management software. One of the examples includes VR workstations for trading. Additionally, 2D and 3D banking experience is adding to the bank’s existing process and enhancing it further. Besides, enhanced banking algorithms would have their upcoming elements embed VR to the bank’s wealth management software to enhance the banking experience.

  1. VR-Based Payments

With new adjacent technologies coming into mainstream, financial institutions will have to continuously evolve. Imagine purchasing something without leaving the virtual world? It might seem a bit unusual right now, but that’s possible. A global credit card leader has collaborated with a VR company to facilitate payments without requiring users to leave the virtual environment. Another example is that of virtual world games where players can buy apparels and accessories from within the virtual environment.

  1. Customer Assistance

In addition to Google’s help where users find ATMs and banks near them, banks are offering a seamless experience to their customers by integrating AR in their apps to help locate banks. These apps can help users scan the area with their phones and get real-time insights about the services available at nearby banks, their location, distance, etc.

  1. Virtual Branches

Digital banking and mobile banking are every customer’s first choice. With fading physical banks near our localities, we are about to enter the revolutionary digital world of virtual banks. Here, customers unable to visit the bank physically will be able to avail banking services virtually. Customers can use a VR headset to enter the banking metaverse to see a real bank. Banking Metaverse will be able to create uninterrupted experience of helping customers avail all physical banking facilities more cost effectively.

  1. Reduced Documentation

Even today, banking requires a lot of documentation. However, the introduction of AR/VR tools will help minimize documentation, as all the documents can be accessed virtually. It will help expedite and make loan processing a more seamless experience.

  1. Customer Retention and Acquisition

For 21st-century banking customers, especially millennials, banking is about technology. However, these are also users who rely on multiple banks and applications. Banks will be able to thrive in the competitive environment only if they embrace the latest tools and technologies. If AR/VR is the need, so be it! AR/VR offerings of banks will help them retain the existing customer base and acquire new ones.

  1. Increased Transactional Security

AR/VR-based banking can make financial transactions even more secure with systems like voice recognition, biometric security, face recognition, retinal scans, etc. These authorizations will help prevent unauthorized access by bad actors who continuously look for vulnerabilities to enter a system.

Embrace AR/VR with Your Partner Company

AR/VR in banking is yet in its nascent stages. However, considering its potential to prove technically, commercial, and strategically beneficial, a more accelerated adoption can help the banking sector grow at an even higher pace. Qodequay Technologies works as your techno-strategic partner in adopting, leveraging, and optimizing AR/VR. We help the banking sector enhance user experiences and compete better at the local and global scale, fostering higher customer loyalty and quicker expansions.

We partner and consult banks to create their AR/VR strategy and plan their digital transformation roadmap. Our digital transformation strategies are crafted through unique design thinking approach. Write to us at contact@qodequay.com to craft your digital transformation journey.

Why choose Shopify for your eCommerce business?

Had eCommerce remained as straightforward as around a decade ago, we wouldn’t have been writing this blog. But like every other element of the digital world, technology has helped eCommerce grow, prosper and evolve. In fact, in the last couple of years, we’ve seen eCommerce progress to becoming an integral part of everyone’s lives. And that makes it imperative for us to talk about one of the various platforms that have fueled its growth so far and helped eCommerce players make it big.

Shopify, the name is! Founded in 2006, Shopify has steadily evolved to become one of the most famous and widely used eCommerce platforms. It powered over 2,200 million active websites (and still counting) in 2021, many of which belong to global players.

Shopify allows eCommerce players to set up their websites easily and start selling online. It enables them to set product prices, taxes, payment methods, and customize online stores. Thus, the eCommerce sector looks at it as a comprehensive eCommerce platform.

But what is it that makes Shopify an as popular eCommerce platform? In other words, why is Shopify leading in eCommerce, or why is Shopify one of the best eCommerce platforms. Let’s answer these questions and look at some of the most significant benefits of Shopify for eCommerce websites.

6 Reasons Shopify is the Best for eCommerce

Shopify is successful because of its features and the seamless experience it offers. Shopify offers a range of impressive features that give its users an edge over others. Let’s look at six of them.

1. Ease of Use

Running an eCommerce business, especially considering the competition, is a daunting task. In situations like these, if you do not have supportive technologies and platforms that simplify things for you, you would spend your energy managing technical hassles and have very little time to focus on your core business needs. But Shopify eliminates these challenges with its exceptional ease of use. How?

Users can create an eCommerce website without any technical background. You can set up a Shopify account and create your online store with the toolset available. Once you complete all the store settings, you can let the website go live and begin selling. Additionally, it offers a comprehensive dashboard that enables you to manage your store and your data efficiently.

Nevertheless, partnering with a Shopify website development company can help you better optimize the advantages and handle the crucial website updating and maintenance, allowing you to engage with your users better and focus on your core business.

2. Myriad Theme Options

Shopify offers a broad spectrum of ready-to-use themes to its users. To suit your needs, you can browse several themes featuring diverse designs, styles, functionalities, etc. You may choose between free and paid options based on your budget. Additionally, the categorization of themes makes choosing the best-suiting theme even quicker and more straightforward.

3 .Seamless Payment Gateway Integration

The absence of commonly used payment gateways is one of the most significant reasons many carts get abandoned. Users do not trust websites that do not feature the payment gateway they mostly use.

Shopify helps minimize these possibilities by enabling users to integrate multiple payment gateways seamlessly. Some options include Amazon Pay, Paypal, Apple Pay, etc., and many other third-party ones. Alongside, you can integrate buy now and pay later apps like Affirm, Afterpay, and Klarna through Shopify. These apps further enhance and simplify the online shopping experience.

It wouldn’t be overrated to say that Shopify contributes to your efforts in retaining carts and, therefore, users. No wonder Shopify is one of the global leaders in eCommerce website development.

4 .Customer Data Management

This one should intrigue C-Suite executives and the decision-makers of the company. In an age where data is valuable as oil, you cannot afford to let customer data go into a black hole without looking at it. Customer data, which you can further convert into priceless business insights, can help you analyze, make informed decisions and plan your strategies. Shopify enables you to do this effectively.

Shopify offers analytical capabilities that enable you to track key metrics, which allow you to deep dive and analyze your business performance, understand customer behavior, and use it as a tool to make purely information-based and very well derived decisions.

5 Range of Enriching Applications

The rising competition in the eCommerce sector demands applications that enhance every aspect from sales and marketing to customer service, content, and SEO. Some of the applications Shopify supports and allows you to leverage for your eCommerce business include,

  • Sumo, TrustPulse, Omnisend, etc. (marketing and promotion)
  • Recharge, Catalog Maker, AVADA Discount Code Generator (sales)
  • SEO Suite – SEO Image Optimize (SEO)
  • Pocket and Social Photos (content)
  • AVADA PDF Invoice Spocket and Printful (administration)
  • Facebook Live Chat, Yotpo, HelpCenter (customer service)

6.Other Advantages

A range of other Shopify advantages for eCommerce companies makes it even more evident why many eCommerce companies are increasingly adopting the use of the platform. Let’s look at some.

  • Efficient integration with Google Ads
  • Blog support to connect better with prospects
  • Customized email campaigns
  • Customizable keywords
  • Adding coupons and discount codes
  • Free Shopify POS and easy integration with other POSs like Vend, Clover, Square, etc.
  • Automated check-out request email to customers who’ve abandoned their carts
  • Shipping carrier integrations with companies like UPS, FedEx, USPS, etc.

Create an Incredible eCommerce Website on Shopify with Qodequay Technologies

Qodequay Technologies is a Shopify partner since 2017 and ranks on Shopify partner site. We bring to your table several years of cumulative eCommerce website development experience. Our strategists and developers use their strategic, market, and user intelligence to create websites that resonate with users, increase engagement, reduce cart abandonments, enhance UX, and contribute to an immersive online shopping experience.

To know more, write to Qodequay at Contact@qodequay.com

21st-century education isn’t only about making students learn concepts, preparing them for examination and life’s race. It has transformed into a competitive realm that demands educators to be competent across every aspect such as administration and strategy, apart from the academic one.

According to an India Today article, India’s CBSE (Central Board of Secondary Education) has already started using blockchain for various purposes within the education ecosystem. Many might want to read it again. Blockchain in education? But that’s right. So far, you must have heard about blockchain making its way into the BFSI sector. However, what application could blockchain have in education? Where has it already found its place in the highly digitized (post-pandemic) and competitive education sector? Come, let’s find it out.

How Blockchain is affecting the Field of Education | What is Blockchain Technology in Education?

Apart from the competition, one of the most vital reasons for the rapid integration of technology is students and parents becoming more demanding. A significant part of the control has now shifted to the other side of the table, unlike yesteryears, wherein it remained with the educational institution. Here are some ways through which blockchain can make a potential difference in the rapidly evolving education sector

1. Student Record Management

Managing student records manually can prove quite a laborious task for the administrator of a large university, school, or college. Many have digitized and automated this task to quite an extent. However, the introduction of blockchain can further enhance it. It can help them in various areas and make it a blissful affair. How?
Blockchain can help seamlessly transfer records of students, who are on exchange programs or those leaving the institution midway. It can allow straightforward access to the records of various students and enable a quicker and better exchange of content across institutions. Additionally, when the institution stores information on a blockchain, it will receive a document confirmation in a matter of a few clicks.

2. Document Storage

The education sector has already stepped out of the conventional, manual recording of student records in files and folders. It has digitized it to a significant extent and therefore you cannot see large heaps of files anymore on the staff room shelves. However, now, it is time for institutions to upgrade and become more competent.
How do institutions do it? Many may say, they’ve already digitized the document storage aspect? What next? The fact is, in the case of many institutions, the capacity of the current digital storage isn’t adequate. On the other hand, scalability is also a crucial concern.
Blockchain proves an effective way of dealing with these issues. It is a large and open-access online ledger, the integration of which, with cloud, can enhance the process of document storage and expand the storage capacity to accommodate an even higher number of records, thus making document storage and management even simpler for educational institutions.

3. Prevention of Fraud in Education

Unfortunately, many people fake their educational qualifications and academic certificates. However, the education sector can avoid this to a considerable extent with the help of blockchain.
Blockchain provides a consistent and transparent ledger for all educational qualifications. Once updated, fidgeting with the information or hacking it (even for professional hackers) is highly challenging. Across various stages, you will require the administrator’s consent to manipulate information. Furthermore, universities can build a ledger with a custom blockchain protocol, which can help issue student certificates and transcripts.

4. Copyright Protection

Plagiarism is another prominent concern prevalent across the global education ecosystem. However, blockchain technology can help content developers curb the distribution of copyright educational content on the internet. It will help ensure the storage of information in a secure chain featuring advanced encryption and multi-factor authentication to access it. That will enable only authorized people to access the information and allow only the owners to provide others access to copyright content.

5. Course Evaluation

Course evaluation is another area where blockchain can help the education sector. Educational institutions can use blockchain for smart contracts, which can help an instructor create a smart contract that outlines the list of tasks required to complete a particular course. Whenever a student completes a task, a smart contract will evaluate and verify it. Once it is confirmed that the student has completed all the tasks, the educational institution will provide a certificate or credits for it.
Similarly, the use of smart contracts on the blockchain can enable instructors to create examination papers, along with the scoring pattern and the answer key. Students can attend the examination online and blockchain will grade each response. It can help enhance the response evaluation process and relieve teachers from the daunting task of checking answers, thus enabling them more time to focus on enhancing competence.
All said and done, educational institutions need efficient blockchain developers to optimize the benefits of blockchain across each of the above applications. Partner with Qodequay, one of the leading blockchain development companies for customized blockchain solutions. Qodequay’s extensive experience and evolved expertise across the blockchain sector enable educational institutions to enhance competence, increase productivity and strengthen the overall educational system.

To know more, write to contact@qodequay.com.