Raktim Singh

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What are the Important Pillars of Agile ?

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AGILE : Important Pillar

1.   Agile doesn’t mean that you need to do work faster. Agile says that you should be able to respond to ‘changes ( requirement change, schedule change..)’, faster.

I have seen many groups, who are ‘supposedly agile’. They have done the work breakdown, they deliver on a continuous basis. But they are not able to handle any change request. That defeats the purpose of agile.

Remember, Agile came into the limelight once, we moved towards the Software industry. In the manufacturing industry, “Six Sigma” and “Just In Time” were good practices. But in the software industry, the output expected is very different. In the manufacturing industry, you produce a car, a very tangible thing. You can always create a well proto-type of car and a good assembly line will produce, cars at scale.

Now, you have to deliver software code. No physical output here. In the initial era of the software era, we used to work in the waterfall model. That is, we used to take requirements from clients, do design, coding, testing as per our/vendor’s understanding & deliver software code to clients. There used to be a big mismatch between what the client had asked and what got delivered. Many times, lot of rework was required, which used to be painful ( and costly), both for the client as a vendor.

The reason being, it was very hard for the client to fully & clearly explain the requirement & it was equally difficult for a vendor to understand each permutation/combination of requirements.

To resolve that problem, Agile came into the picture.  The main aim of this is that client should see the system ( say banking system), continuously working with new software, and tell what changes should be done. This rework should cost a bomb to neither client nor vendor.

To emphasize again, If you are really agile, you should be able to respond to changes, faster ( and not necessarily work faster).

2.   Understand the difference between Agile team vs agile enterprise.

3.   When the process is King, ideation will take a back seat.

4.   Innovation requires ‘relaxed focused’ mind. This means that when you plan to do something, be clear what you will NOT do.

Structure & Roles

    1. Understand the strength of our team members & bring work to him as per his strength. Don’t just add more team members in a project. ( That is don’t bring person to work but bring work to person)
    2. Define the Agile career path for your team members.
    3. Remember, each company goes through four phases. Entrepreneur, Visionary, Operator & Pragmatic.

First entrepreneurs start the journey. They are risk-takers, can sell & sometimes they ignore the fact that they can fail ( and hence they succeed). After that visionary phase comes. They put the proper framework to scale that idea. In the third phase, Operators come. They make sure that that with the established framework, the output is produced without any issue. The last phase is the pragmatic phase.  By this time, the original idea has either lost its relevance or there are too many companies in the market, who are able to produce output by that idea. This is most important phase & many times, companies get hung on/don’t accept the fact it’s time to shut down. Correct action in this phase is to do the fire-sale , minimize the loss and move to the next idea.

Leadership & Culture

1.      Trusting & empowering team vs Command & Control model

2.      Managers should clearly articulate the ‘Value” added by them

3.      Remove blockers

4.      Continuous feedback loop from real customer

5.      More frequent & flexible planning.

6. It’s easier to fool people than convince them that they have been fooled.

Un-learning & Learning in Digital world

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Getting ready for the future:

  1. Importance of Learning & un-learning

 One of the most important traits, which is required in today’s world is the ‘Habit of continuous un-learning & learning’. This is very important for all IT industry workers. They are doing software projects, which mainly involves automating the work of other industry. Like, automating, inventory management, banking operations, etc.

So that naturally beg the question that these IT industries workers, should automate their own internal work also.  It means, none of the software engineers, should do work, which he was doing say, six months back. He should have automated that work.

So, what next for this software engineer.

This is where un-learning & learning comes into the picture.

(              (2) Current challenges

I see a big problem in our current system. In almost all our colleges, lot of emphasis is given on learning hard skills ( Math, Science, Commerce….). Though these are important, almost no coaching/mentoring happens on soft-skills.

And it’s very hard ‘To learn how to unlearn’.

I will go to the extent of saying that learning math is easy but learning, how to work in team ( where team members are getting changed ) is very difficult.

That is, you know that 2+2=4. It’s always true. But when you are working in a team, you have to adjust your working style based on other co-workers. If your team is always constant, you are lucky. But many times, it is not true.

Your team members will keep on getting changed. The methods you used in your last team, may not work. You may have to learn new skills & change your style, based on new work & based on new team members.

  1. Skills to focus upon

According to me, these 3 skills are most important. That is ‘Self-awareness’, ‘Learning attitude’ & ‘Pattern finding’.

Self-awareness: Do you really know, yourself?

So If I take my example, I will say that I ( Raktim) am sleeping with Raktim for last 45 years. I know, how I passed my 10th exams, how I prepared for IIT, how I behaved with various persons, incidents where I was telling the truth or hiding the facts. Yes, you get coached by your parents/teachers/mentors/managers.

But think of it. In my 45 years of life ( that is around 4,00,000 hours), together my parents/teachers/mentors/managers may have spent maximum of around 40,000 hours with me. That is, only 10% of my total life. So, I only can be the correct judge of knowing, how Raktim is. The same applies to each one of you. You only can know, things which you are good at, things which you enjoy/hate, your strong areas or areas of importance.

Once you introspect & know yourself, you can decide how you want to spend the rest of your life. Now if you want to perform some task, you know, whether you alone can do this or you want to take help from someone because you are not an expert in that area. Remember, no one is perfect. The difference between successful & unsuccessful people is that a successful person knows himself, takes up work in which he is good at and takes help in areas, where he is not good at.

Learning attitude: You need to have curiosity & the ability to learn. Let me give one example here. Say, there are two-person, John & Robert. Both want to learn music. John spends 9 hours daily practice. Robert also spends 9 hours. But he spends 6 hours practicing & the rest 3 hours taking (brutal) feedback from his mentor, doing retrospection of his work & plan for the next day. Now, as per you, who will succeed in the future? I believe, the answer is Robert. The reason is, that Robert is spending time in learning, doing retrospection of what is going right, what is going wrong & planning accordingly.

Pattern finding: You can call this connecting the dots also. Let me give one example here. There are 3 friends, say Ram, John & Sreeni. They felt hungry on Saturday Night. So they drove to search for a good restaurant. While driving, they saw that restaurant named ‘Tasty Foods’ was open. So they went there and ate.

As part of this, Ram learned that the restaurant ‘Tasty Foods’ remains open late at night. So in the future also, he can go to ‘Tasty Foods’ and eat.

John realized that ‘Tasty Foods’ was near ‘railway station’. So he concluded that shops/restaurants/hotels near ‘railway station’ normally remain open, late at night. So if he goes to another city, if needed, he can go near the railway station in that city & can get a restaurant.

Sreeni realized that the ‘railway station’ is a transportation hub. So, I go to any other transportation hub ( say ‘bus station’ or ‘airport’..), he can get a restaurant, which remains open, late in the night.

So according to me, Sreeni is good at finding patterns and he will be more successful in life.

Open Banking (OB) – WHAT, HOW, WHY NOW?

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Open Banking (OB) ..WHAT…HOW…WHY NOW?

In many countries, Top 3- 4 banks are having banking accounts(A/C) of the entire banking population.

Bank customer has a sticky relation with his bank as many things is linked to his bank A/C (Salary A/C, Credit Card..)

The customer has also given his bank A/C to many other utility companies (Electricity, the gas company..to pay bills from his bank A/C).

It’s difficult for a customer to switch A/C from his current bank.

In many cases, these Top banks are still running old legacy systems. They are slow to offer a new innovative solutions to their customers.

Result: Customer is not able to avail of new features.

OB will mandate banks to share the consumer data( after his consent) with third parties(TP) via APIs.

With this, TP can develop more features on top of the existing features offered by these TOP banks.

More choices for a bank customers.

But watch out for these points
1.Old bank will have to invest a lot of effort to offer APIs from their legacy systems.
2.Privacy/Usage of Customer data.
3.Each country is coming up with its own API specification. European country’s OB API specs are different from SEA countries or ANZ.
No global standards for common banking operations.

Re-imagined Wealth Management System (WMS)

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Re-imagined Wealth Management System (WMS):

1.Easy On-boarding & KYC :Provide good experience by using WhatsApp Video call.
In many big banks, which had acquired other financial entities, there are duplicate CIF in their database. Clean that & provide correct 360 view.

2. GAMIFICATION for RISK PROFILING: Don’t ask 30 boring questions? Use interactive 4D game based on say, MONOPOLY & do RISK Profiling/Portfolio Creation.

3. INTEGRATION with SOCIAL MEDIA :Stock price is a favorite topic during tea. Integrate with social platform ( can be closed group). My friends can share their views on a stock/Rank that stock. Gamify that.

4. Structure Product (SP): Automate your process & offer personalized SP. Don’t confuse him with jargons like knock in/knock out. Simplify investing for him.

5.OPEN BANKING :In case customer is having accounts in multiple banks, aggregate that data by OPEN banking API & provide full view to customer.
Offer Personalized products based on this data. Allow him to create rules for SIP. Allow SIP on all days.

6. Engage with Full Family: Today investing is a boring/complex topic. Provide incentive & change the saving/spending habits of family.
Bring Fun here. Happy family will take better investment decisions.