TBI Info is looking for trainees
We at TBI Info know how difficult it is to start a professional career after graduation and the challenges that young people are facing. This is the main reason for us to pay attention exactly at this background.
In regard to this matter we emphasize on our scholarship program. It is available year-round, which enables all interested candidates to join the program at a suitable time for them throughout the year, not at fixed time frame. This advantage is of significant importance for young professionals as they can successfully combine it with their university curriculum.
Young talents with knowledge or some experience interested in Java EE, Tomcat & Web Services, SQL, JDBC, Progressive enhancement techniques, Responsive design, Mobile first technologies, Unit testing, code coverage, PostgreSQL, Firebird, Linux, Quartz, Cron or front end/back end development will have the opportunity to join our team until graduation. During the training program all participants receive payment for the work performed.
If you are interested in our proposal, please fill in the form which is available here.
Digital transformation means customization
What exactly is digital transformation of financial institutions?
Internet dominates our daily lives and digital transformation is a shift of all kinds of business, including business in financial institutions, from traditional to digital way of doing business. This is what digital transformation is about.
It is a process of transformation of the company, processes, etc., in order to be able to effectively work with new technologies. Telecoms are turned into banks – this is the digital transformation of financial services because they start offering banking services. What is Uber? How is it possible that a company with 400 million turnover has capitalization of 40 billion?
The company is expensive because it has a payment system with 1 billion users. The same thing happens in the financial services. Things are slower there, because the entry of new players is regulated. However they are beginning to transform. And they should, unless they want to be pushed aside by “insolent” start-ups. Banks and insuring companies must react now, immediately, and go for the network. Because no sales can be made in the cloud unless their data is out there.
What is the idea behind the digital transformation?
The idea is in near future all products, not only financial services to be customised. In order for an insurance company or a bank to offer customized product to their customers, these institutions should have a very good knowledge about the client and consider all the information about him.
An insurer must analyse all risks for a client and offer such product to ensure his/her protection against all these risks, that is being able to provide a perfectly fitted product.
You mean that in the near future these will be the only products that can be sold?
Yes, because everyone will want to pay for what they actually consume and what is of personal interest to them. For the insurance companies to perform effectively on the market, they need to process huge volumes of unstructured information to understand who the customer is, what are his needs so they can offer the right product at the right time.
For this to happen, they must transform all systems; develop campaigns to monitor what is happening in social networks with their potential targeted customers; to respond appropriately to everything at the right time.
One of the major topics at the meeting in Davos was about the “informal” financial companies and other start-ups who already take share of the market of financial institutions with more favourable conditions. World bankers demanded regulations for them as well.
There are no regulations that can stop these companies. Even if some regulations are introduced, if customers are interested in using a certain service, they will continue to use it. So banks, insurers, financial institutions as quickly as possible should launch on new technologies and digital transformation.
The question is not whether or not to transform and outsource most of their operations in the “cloud.” It is when will they do so. The sooner, the better for them.
What is the purpose of smaller players on the financial market?
The idea of 95% of start-ups is to successfully exit the business at some point. They will look for niches in the market thus challenging bank institutions to change, but on the other hand banks will begin to compete with each other eventually. The first who transform and enter the ”cloud”, will turn into leaders tomorrow. That is why transforming is so crucial- either by buying start-ups and companies that pressed them to innovate, either by developing them themselves, because banks have sufficient resources to invest in new technologies.
Some banks and insurer companies have already started to develop their own innovative and technological structures.
TBI info is such example. It is part of the Vienna Insurance Group, which develops internal company for innovation and development of new products. We provide services and implementation of new technologies in the business.
The Mobile application B-Assist, which we recently presented to “Bulstrad Life” plays a role of online personal assistant with access to professional health care 24 hours a day. This is the first step for the digital transformation of an insurance company.
Are there any possible risks in front of the digital economy?
Mr. Masliankov shared his views in terms of the transformation which is under way of financial sector into a digital one, reasons for this, directions for development for Bulgarian entrepreneurs and what happens in the world of cloud technologies.
He also drew attention to the flexibility of Bulgarian business’ and more precisely its rate of adaptation to new technologies.
The rest of the interview on “Bloomberg” TV you can read here.