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  • 3 min read

Product Strategy Recommendations

Hello and welcome to Continuous Improvement, the podcast where we explore strategies, frameworks, and concepts to create compelling and memorable product experiences. I'm your host, Victor Leung. Today, we are diving into an exciting blog post that discusses the innovative core banking product developed by Thought Machine. But before we delve into the details, let me tell you a bit about this groundbreaking company. Thought Machine has recently raised a staggering $200 million in a Series C funding round, attracting industry-leading VCs and global banks. With its flagship product, Vault, Thought Machine is revolutionizing the banking industry by empowering banks to offer innovative services to their customers.

Vault, a cloud-native ledger platform, operates on various cloud services, offering unparalleled flexibility to banks. From real-time data transmission and rich data streaming for AI and reporting, to managing international currencies, cryptocurrencies, and reward points, Vault provides an augmented product experience that goes beyond just functionality.

But let's take a step back and examine the different levels of this product. At the core is a modern banking platform, designed with an API-first architecture, allowing easy integration with services and technologies from other vendors. This is the actual product that meets the core needs of users. And finally, we have the augmented product, which includes features like a payments processing platform and the ability to run various retail banking products such as current accounts, savings, loans, credit cards, and mortgages.

Now, it's time to understand the competitive landscape. We will explore the competition at various levels, including narrow, form, need, and substitute. By understanding these levels, Thought Machine can better position its product and stand out from the competition.

Moving on to niche evaluation, we'll use Professor Alter's four criteria for a strong niche. The global retail core banking market is estimated to be worth just over £6 billion. To identify individuals with a need for this product, channels such as marketing and accessible platforms will come into play. And lastly, the predictable behaviors of banks looking to compete and differentiate their financial products will contribute to a strong niche.

Next up is the friction audit. We'll examine the different customer touchpoints and identify areas of friction that Thought Machine could alleviate. From the pre-purchase phase, which involves assessing risk, joining demo sessions, and decision making, to the purchase phase, which includes signing contracts, writing statements of work, and team formation, and finally, the post-purchase phase, which requires smooth product installation, clear product documentation, and reliable production support. By addressing these points of friction, Thought Machine can improve the overall customer experience.

Now, let's talk about product innovation. The sweet spot for incremental innovation lies in fulfilling articulated needs for unserved customers and unarticulated needs for served customers. Thought Machine is targeting customer needs that include out-of-the-box core banking services, flexibility with an easy-to-use configuration layer, hosting options on both private and public cloud platforms, scalability, enhanced integration with other banking systems, improved reporting and data analytics, data protection and privacy, and operational resilience.

Finally, in the blog post, the author provides priorities and recommendations for Thought Machine to fully realize the potential of their product. These include focusing on narrow niches and leveraging platform flexibility, building an open-source integration library, conducting a friction audit, and offering a SaaS solution.

That wraps up our exploration of this fascinating blog post on Thought Machine's revolutionary core banking product. I hope you found this discussion insightful. Thank you for joining me on this episode of Continuous Improvement. Remember, there's always room for improvement, so keep striving for excellence. Until next time!

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  • 4 min read

MongoDB Kafka Connector

Welcome back to another episode of "Continuous Improvement." I'm your host, Victor, and today we're going to dive into the world of Apache Kafka and its integration with MongoDB.

Apache Kafka is an open-source publish/subscribe messaging system that allows seamless communication between different data sources. One component of Kafka, known as Kafka Connect, provides a solution for connecting Kafka with various datastores, including MongoDB. In today's episode, we'll focus on using MongoDB as a data lake and explore the MongoDB Kafka sink connector.

But before we get into that, let's start by setting up our Kafka environment. First, you'll need to download the latest Kafka version from the official Apache Kafka website. Once downloaded, extract the files and navigate to the Kafka directory.

To start our Kafka environment, we need to run the ZooKeeper service. Open a terminal window, navigate to the Kafka directory, and execute the following command:

bin/zookeeper-server-start.sh config/zookeeper.properties

Now that the ZooKeeper service is up and running, let's start the Kafka broker service. Open another terminal window, navigate to the Kafka directory, and execute the following command:

bin/kafka-server-start.sh config/server.properties

Excellent! We now have a basic Kafka environment up and running. Now let's install the MongoDB Kafka sink connector, which allows us to write data from Kafka to MongoDB.

First, let's download the required JAR file for the MongoDB Kafka Connector. Visit the official MongoDB Kafka Connector repository and download the JAR file. Once downloaded, navigate to the /libs directory within your Kafka installation.

Now, let's update the config/connect-standalone.properties file to include the plugin's path. Open the file, scroll to the bottom, and update the plugin.path property to point to the downloaded JAR file.

With the plugin installed, it's time to create the configuration properties for our MongoDB sink connector. In the /config folder, create a file named MongoSinkConnector.properties. This file will contain the necessary properties for our MongoDB sink connector to function.

Now, let's add the required properties for the message types. We'll use the JSON converter for both the key and value and disable schemas.

Onto the specific MongoDB sink connector configuration. Here, we define the connection URL, the database we want to write to, the collection within the database, and the change data capture handler.

Great! Now let's create another configuration file for the MongoDB source connector. Create a file in the /config folder named MongoSourceConnector.properties. This file will contain the necessary properties for our MongoDB source connector.

In the MongoSourceConnector.properties file, we need to specify the connection URI of our MongoDB instance, the database we'll be reading from, and the collection within that database.

Now that we have our Kafka environment set up and the MongoDB Kafka connectors configured, it's time to install MongoDB itself. We'll go through the installation steps quickly, but keep in mind that you may need to adjust some commands based on your operating system.

First, we'll need to download the MongoDB public GPG key and add it to our system. This step ensures the authenticity of the MongoDB packages.

Next, we create the MongoDB source list, which specifies the MongoDB packages' download location.

After updating the package database with the MongoDB source list, we can finally install the MongoDB packages.

In case you encounter any errors related to unmet dependencies during the installation, we provided some commands to address those issues.

Finally, let's verify the status of our MongoDB installation to ensure everything is running smoothly. Simply run the command and check the output to see if MongoDB has started successfully.

Perfect! Now that we have our Kafka environment set up, the MongoDB Kafka connectors configured, and MongoDB installed, we're ready to start the Kafka Connect service.

To start Kafka Connect, open a terminal window, navigate to the Kafka directory, and execute the following command:

bin/connect-standalone.sh config/connect-standalone.properties config/MongoSourceConnector.properties config/MongoSinkConnector.properties

With Kafka Connect up and running, let's write some data to our Kafka topic. Open a new terminal window, navigate to the Kafka directory, and execute the command provided.

Fantastic! We've successfully written data to our Kafka topic. Now, let's ensure that our MongoDB sink connector is properly processing the data and writing it to the MongoDB collection.

To verify this, we'll insert a document into the MongoDB collection from which our source connector reads data. Execute the MongoDB shell commands provided, and the document will be inserted.

Finally, let's check the topicData collection in MongoDB to confirm that our connectors have successfully processed the change.

Congratulations! You've successfully integrated Apache Kafka with MongoDB, allowing seamless data transfer between the two systems. For more information and further details, visit the MongoDB Kafka Connector documentation linked in the show notes.

That's it for today's episode of "Continuous Improvement." I hope you found this exploration of Apache Kafka and MongoDB valuable. Stay tuned for more episodes where we uncover the best practices and tools for continuous improvement in the tech world. Until then, keep improving!

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  • 3 min read

FinTech Security and Regulation Suggestions

Welcome to Continuous Improvement, the podcast where we explore strategies and insights for enhancing various industries through continuous improvement. I'm your host, Victor, and today we'll be diving into the fascinating world of Virtual Banking in Singapore's financial industry.

Virtual banking has undoubtedly reshaped the way we think about financial services. However, with innovation comes the need for effective regulation to manage risks and ensure the smooth functioning of the market. In today's episode, we'll be discussing the delicate balance between Virtual Banking innovation and regulation, and I'll be sharing some valuable advice for regulators in Singapore.

But before we dive in, let's understand the motivations behind regulation in the fintech industry. Uncertainty, resource conflict, disruption, and unforeseen events are some of the key drivers that lead regulators to assess the risks associated with emerging technologies.

Now, the adoption of cloud technologies has certainly revolutionized the financial system, offering unprecedented potential. However, it also brings new risks that require safeguards to prevent system collapse. This is where insightful regulation plays a crucial role.

When it comes to regulating the fintech industry, regulators can consider three approaches: rule-based, principles-based, and performance-based systems.

In a rule-based system, strict rules and processes are set by the regulatory authority, leaving little room for interpretation. On the other hand, a principles-based system provides guiding principles for market players, allowing them some freedom in achieving their regulatory responsibilities. Lastly, a performance-based system sets specific benchmarks for market participants to meet or exceed.

Now, each approach has its own benefits and challenges, but finding the right balance is vital for Singapore's fintech industry to thrive.

The Monetary Authority of Singapore, also known as MAS, aims to position Singapore as an experimental center for fintech innovation. Their long-term goal is to attract fintech innovators to the Asia-Pacific region. To achieve this, MAS has embraced the use of regulatory technology, or reg-tech, to streamline compliance processes and foster a conducive environment for innovation.

But what about virtual banks themselves? How can they navigate the evolving regulatory landscape? It all starts with establishing an open and respectful relationship between policymakers and stakeholders in the fintech field.

MAS has already taken steps to address this by amending its Guidelines on Outsourcing for Financial Institutions. These guidelines acknowledge that virtual banks can benefit from cloud services. However, they also require due diligence, robust governance, and risk management processes to be in place when utilizing cloud services.

Cloud security is of utmost importance, and regular reviews of cloud security environments should be conducted. Compliance with industry certifications such as ISO 27001, ISO 27017, ISO 27018, MTCS Level 3, and PCI DSS Level 1 ensures the highest level of security standards.

Additionally, MAS provides guidance on risk management techniques and expects financial institutions to comply with these guidelines and report their compliance accordingly.

In conclusion, successful cloud implementation for virtual banks requires a deep understanding of their current and desired states. Proper goal-setting and the development of workstreams specific to cloud migration are crucial.

By embracing innovation while maintaining effective regulation, Singapore can become a hub for virtual banking and secure its position as a fintech powerhouse in the Asia-Pacific region.

That's all for today's episode of Continuous Improvement. I hope you gained valuable insights into the relationship between Virtual Banking and regulation in Singapore's financial industry. Stay tuned for future episodes where we explore more strategies for enhancing various industries through continuous improvement.

Thank you for listening, and until next time, I'm Victor signing off.

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  • 3 min read

FinTech Security and Regulation

Welcome back to Continuous Improvement, the podcast where we explore the world of finance, technology, and innovation. I'm your host, Victor, and in today's episode, we're diving into the fascinating world of virtual banking regulations in the United States.

As a FinTech consultant, I've been studying the security and regulation landscape in the US financial sector, specifically in relation to virtual banking. The US operates under a unique "dual banking system," which means banks can be chartered by either one of the 50 states or by the federal government. But regardless of who charters the bank, there are regulations that virtual banks must adhere to.

Let's start with the Gramm-Leach-Bliley Act, commonly known as the GLBA. This act mandates that financial institutions inform their customers about their information-sharing practices and protect sensitive data. The GLBA is enforced by the Federal Trade Commission (FTC), federal banking agencies, other regulatory bodies, and state insurance oversight agencies.

Under the GLBA, financial institutions must have safeguards in place to protect client information. These safeguards extend to their affiliates and service providers as well. Additionally, financial institutions must issue specific notices and adhere to limitations on the dissemination of nonpublic personal information.

Now, let's move to the California Consumer Privacy Act, or CCPA. This act grants consumers more control over their personal data collected by organizations. It provides rights such as knowing what data is collected and how it is used, requesting the deletion of personal information, opting out of the sale of personal information, and non-discriminatory treatment.

California voters also approved the California Privacy Rights Act, or CPRA, which expands existing privacy rules further. However, some exemptions will expire on January 1, 2023, making the full range of CPRA standards applicable.

Moving on, the NYDFS Cybersecurity Regulation imposes strict cybersecurity standards on financial institutions in New York. Banks, mortgage companies, and insurance providers must implement comprehensive cybersecurity plans and maintain reporting systems for cybersecurity events.

When it comes to outsourcing technology services, there are guidelines outlined in the Information Technology Examination Handbook. Financial regulators have the authority to oversee all activities and records, ensuring compliance with federal consumer financial regulations.

And let's not forget the Consumer Financial Protection Bureau, which has its own guidelines for information technology examination procedures. While aspects of a product or service can be outsourced, the responsibility for compliance with regulations cannot be delegated.

To summarize, virtual banks operating in the US must comply with various regulations related to data protection, privacy, cybersecurity, and financial operations. This includes the Gramm-Leach-Bliley Act, the California Consumer Privacy Act, NYDFS Cybersecurity Regulation, outsourcing guidelines from the Information Technology Examination Handbook, and more.

Understanding and adhering to these regulations is crucial for virtual banks to protect their customers' information, maintain compliance, and build trust in the financial sector.

That's it for today's episode of Continuous Improvement. I hope you found this overview of virtual banking regulations in the US insightful. Stay tuned for more episodes where we explore the latest trends, challenges, and innovations in the world of finance and technology.

As always, I'm your host Victor, and thank you for listening to Continuous Improvement.

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  • 3 min read

My Operating Manual as a Manager

Welcome to "Continuous Improvement," the podcast dedicated to helping you grow and succeed as a manager. I'm your host, Victor, and today we're diving into the topic of creating an operating manual to enhance relationships in the workplace.

I recently completed an online course on becoming a Complete Manager, and one valuable lesson I learned was the importance of having an operating manual. This manual is designed to help others understand the best ways to work with me and accelerate relationship-building with my teammates.

Communication is the foundation of any successful team, and that's why I've outlined my preferences for giving and receiving feedback in my manual. It's important to be honest and assume positive intent, and to communicate issues early and often. Remember, I can't fix what I don't know.

When giving feedback, it's best to opt for one-on-one private meetings and base discussions on facts rather than subjective biases. By providing constructive suggestions, we can all grow and improve together.

In terms of communication channels, I prefer using Slack for internal team messages and responding as promptly as possible. Quick questions are best suited for Slack, while email is preferred for external clients. For extended discussions, let's utilize Google Meet, but please provide advance notice so I can prepare.

Moving on to time management, it's important to understand each other's peak focus times for independent work. For me, that's in the morning, so feel free to interrupt for urgent matters during that time. Collaboration and team meetings tend to work best for me in the afternoon.

When it comes to calendar scheduling, send Google Calendar invites and either accept or reject them. If the timing isn't ideal, propose a new time. And if you can't attend a meeting, please decline the invite in advance and offer a brief explanation.

We all have different preferences for digesting information, and for me, reading allows me to process information more quickly. Asynchronous communication is preferred for detailed answers requiring analysis, while synchronous communication is fine for quick exchanges.

Making meetings successful is crucial to our productivity. Let's limit group size to fewer than nine people for meaningful conversation, keep meetings within an hour, and focus on interaction over process. And remember, be open-minded and ready to pivot when necessary.

It's important to understand what people often get right about me and what they may underestimate. I'm an introvert, so networking events drain me quickly, but I have a sense of humor and enjoy team camaraderie. And despite my humility, I am ambitious and goal-oriented.

My operating manual also reflects what I value most as a manager. Continuous improvement is the foundation of good management, with a focus on competence. I also believe in servant leadership – prioritizing team success over personal gains. And in our dynamic work environment, having an agile mindset is crucial.

Understanding the dynamics of relationships is key to a harmonious team. When relationships are at their best, there are clear roles and responsibilities, democratic decision-making, and a transparent and trusting atmosphere. During frustrating times, let's show empathy and avoid the blame game.

In summary, my operating manual is a living and evolving document that reflects my management style and learning. If you have any questions or want to discuss anything further, please feel free to reach out. I'm eager to collaborate with you.

And that concludes today's episode of "Continuous Improvement." Thank you for tuning in, and remember, a successful manager is always striving to improve. Join us next time as we explore more ways to grow in your managerial journey. Take care, and stay focused on continuous improvement.

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  • 3 min read

Azure EventHub, Logic Apps, and DataVerse

Welcome to "Continuous Improvement," the podcast where we explore practical tips and strategies to enhance your work processes and boost your productivity. I'm your host, Victor, and today we're diving into the world of data synchronization between Apache Kafka and Microsoft Cloud for Financial Services (FSI). In this episode, we'll walk you through the steps to export and import Kafka messages to FSI and discuss the benefits of integrating these two powerful platforms. So, let's get started!

First things first, let's understand the process of exporting Kafka messages to Azure EventHub, one of the components of Microsoft Cloud for FSI. To achieve this, we'll be using a Python script that sends event messages to Azure EventHub.

[Background explanation]

Here's an example Python script to get you started. You would need to replace the placeholders with your own EventHub name and connection string. The script sends three simple event messages to Azure EventHub, demonstrating the process of exporting data.

[Code snippet]

Once you've customized the script, execute it. If everything goes well, you should see a message indicating the successful delivery of the events. But remember, if you encounter any errors, double-check the placeholder values to ensure they are correct.

With the Kafka messages successfully sent to Azure EventHub, the next step is to connect Azure EventHub to Logic Apps. Logic Apps will act as the workflow automation tool to synchronize data from EventHub to DataVerse, another component of Microsoft Cloud for FSI. Let's walk through the process.

[Background explanation]

Start by navigating to the Azure portal and searching for Logic Apps. Create a new Logic App to serve as your automated workflow. EventHub events will act as the trigger, while DataVerse will be the output. For development purposes, choose the "Consumption" plan type, suitable for entry-level development.

Once your Logic App is created, access the Logic App designer. The process involves three main steps: EventHub trigger, initializing variables, and adding a row to DataVerse.

[Background explanation - EventHub Trigger]

In the first step, configure the Logic App to connect to EventHub as the trigger. For development purposes, set the check interval to 3 seconds to ensure smooth processing.

[Background explanation - Initialize Variables]

Now let's move on to step two – initializing variables. In this step, you'll parse the message received from EventHub. The sample message structure would look something like this:

{
    "id": "something"
}

To extract the value using the key "id," you can utilize the provided expression:

json(decodeBase64(triggerBody()['ContentData']))['id']

This expression helps you retrieve the specific data you require from the received message.

[Background explanation - Add a Row to DataVerse]

Finally, the last step involves adding a row to DataVerse. Utilize the database connector to accomplish this. If the table doesn't exist yet, you can create one by navigating to https://make.powerapps.com/ and selecting DataVerse. Populate the fields with the variables initialized in step two.

Congratulations! You've successfully set up the connection between Azure EventHub and Logic Apps, ensuring continuous data synchronization from Kafka to DataVerse within Microsoft Cloud for FSI.

But wait, what exactly is DataVerse? Well, DataVerse serves as a database for storing data in tables. Once your Logic App is triggered by a new event, you'll see a new row added to the DataVerse table.

[Background explanation]

And with all the data seamlessly synced to Azure FSI, you can now explore the various components offered by Microsoft Cloud for FSI. For instance, the Unified Customer Profile allows you to efficiently manage customer data, providing a comprehensive view of each customer.

Access the Microsoft Cloud Solution Center at https://solutions.microsoft.com/ to explore and select the desired component that best suits your needs. And don't forget that you can launch the Dynamics 365 sandbox from the Solution Center to see the Unified Customer Profile app in action with pre-populated sample data.

[Closing remarks]

That wraps up today's episode of "Continuous Improvement." We hope you've found value in learning how to export Kafka messages to Azure EventHub, synchronize data to DataVerse using Logic Apps, and leverage the powerful components provided by Microsoft Cloud for FSI. If you have any questions about setting this up or need further assistance, feel free to reach out.

Remember, continuous improvement is all about finding ways to enhance our processes and stay ahead of the game. Join us again next week for another insightful episode. Until then, keep improving and stay productive!

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  • 3 min read

Journal of Self-Growth

Welcome to Continuous Improvement, the podcast where we explore ways to better ourselves and achieve our goals. I'm your host, Victor, and today we're going to delve into a topic that many of us struggle with: social interaction.

Socializing, meeting new people, and building connections can be intimidating for many of us. Whether it's the fear of failure, embarrassment, or rejection, it's a challenge that we can all relate to. Today, we'll discuss how we can overcome these obstacles and improve our social skills.

But before we dive in, let me share a little bit about my own experience. Growing up, I often felt lonely at school. While others were playing games, I sought solace in books and observed the bullying happening around me. This negative environment fueled my fear of social interaction, causing me to distance myself from others to avoid becoming a target.

However, as I've come to understand, building good relationships can greatly enhance our quality of life. It can lead to higher income, better career opportunities, increased self-confidence, and even reduced stress levels. So, how can we improve our soft skills and foster better interactions?

The first step is self-reflection. It's important to question some of our ingrained assumptions and differentiate facts from misconceptions. The fear of being unpopular, for example, can hold us back from reaching out to others. But let's challenge that notion. Instead of seeing socializing as a popularity contest, let's view it as an opportunity for growth and connection.

Another crucial aspect is to let go of past negative experiences. Traumatic events or instances where we felt rejected can leave a lasting impression on us. But it's essential to recognize that those moments don't define us. By embracing a more collaborative and curious attitude towards others, we can create a fresh perspective and start building healthier relationships.

Now, you might be wondering how to practically improve your social skills. One way is to actively seek out opportunities for interaction. Attend networking events, join clubs or groups with shared interests, or even strike up conversations with strangers. With each interaction, challenge yourself to be present, listen actively, and engage with genuine curiosity.

Additionally, don't shy away from learning about effective communication techniques. Books, online courses, and podcasts (like this one!) can provide valuable insights and practical tips. Learning how to express yourself clearly, ask open-ended questions, and empathize with others can go a long way in improving your social interactions.

Remember, improving our social skills is an ongoing process. It requires patience, practice, and the courage to step outside of our comfort zones. But the rewards are well worth it—greater success and fulfillment in our personal and professional lives.

That's all for today's episode of Continuous Improvement. I hope you found these insights helpful as you embark on your own journey of improving your social skills. As always, remember that progress is made one step at a time.

Thank you for joining me today. I'm Victor, your host, and I'll be back soon with more tips and strategies for continuous improvement. Until then, keep striving to be the best version of yourself.

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  • 3 min read

FinTech - Digital Banking Overview and Market Research

Welcome back to another episode of Continuous Improvement, the podcast where we explore the ever-evolving landscape of the banking industry and discuss strategies for staying ahead in the digital age. I'm your host, Victor, and today we're diving into the challenges faced by large banks in the Asia-Pacific region as they contend with the rise of digital banking.

The adoption of digital banking is on the rise globally, driven by changing customer expectations and increased digital penetration. The COVID-19 pandemic has further accelerated this trend, creating an urgent need for change. In this episode, we'll take a closer look at how traditional banks in the Asia-Pacific region are responding to competition from emerging digital banks.

Let's start with Hong Kong. Large banks like HSBC are feeling the pressure from virtual banks. Despite being a late entrant into the digital banking space with their PayMe mobile application, HSBC has managed to amass an impressive 68% market share and two million users. To compete with newcomers, many of Hong Kong's traditional banks are intensifying their digital transformation efforts and even eliminating or reducing fees.

Moving on to Malaysia, concerns arise about the underinvestment in technology by traditional banks. With nearly 200 FinTech startups reported as of April 2019, the rapidly developing FinTech sector is changing the landscape. E-wallets and payment services are seeing significant growth. However, traditional banks must adapt to keep up with the incoming virtual banks.

Thailand is also well-positioned to become an ASEAN FinTech hub. Despite 22% of the Thai population being unbanked, digital payments and peer-to-peer lending platforms are targeting this segment. Mobile and internet banking transactions have grown rapidly, with mobile banking expanding at a remarkable 123% Compound Annual Growth Rate from 2014 to 2018.

It's not just the Asia-Pacific region experiencing the shift towards virtual banks. Regulatory bodies elsewhere, like the Financial Supervisory Commission in Taiwan and the Monetary Authority of Singapore, have recently approved new virtual bank licenses. The Philippines, Vietnam, and Indonesia, with their large underbanked and unbanked populations, present compelling cases for the introduction of virtual banking.

Even in cities like London and New York, where tier 1 banks have dominated the market, change is on the horizon. JPMorgan Chase, for instance, is entering the UK market with a digital-only lender, marking a significant move for the bank. New York, albeit slowly, is witnessing digital banking trends similar to the Asia-Pacific region. The demand for new products and instant payments is growing, challenging traditional banks to adapt.

Meanwhile, in Tokyo, the Japanese FinTech market is booming, with revenues expected to reach HKD80 billion by 2022. Top-funded FinTech applications in Japan mainly focus on cryptocurrency, investment management, and trading. The declining and aging population has affected overall banking industry profits, prompting banks to explore new avenues for growth.

Digital banking is experiencing significant growth in large markets worldwide. However, traditional banks, initially slow to adapt, are now faced with the task of navigating a highly regulated and complex landscape. The scarcity of digital talent further heightens the need for established banks to adapt quickly to protect their market share against emerging challengers.

That's it for today's episode of Continuous Improvement. I hope you found our discussion on the challenges faced by large banks in the Asia-Pacific region enlightening. Stay tuned for future episodes where we'll continue to explore the evolving world of banking and discuss strategies for staying competitive in an increasingly digital world.

Thank you for tuning in, and until next time, keep striving for continuous improvement.

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  • 3 min read

My Hand Writes My Heart

Hello and welcome to "Continuous Improvement," the podcast where we explore personal growth, self-reflection, and the pursuit of inner peace. I'm your host, Victor, and today we're diving into the powerful concept of finding inner peace through self-reflection.

In our fast-paced and chaotic world, it's easy to lose sight of ourselves and become entangled in external events and expectations. But as our blog post content suggests, writing can be therapeutic and help us gather our thoughts to find the answers we seek.

Today, I'll be sharing my own personal journey, as written in the blog post, and discussing the importance of facing our emotions, taking responsibility for our relationships, and confronting the societal pressures that weigh us down.

The blog post begins with the author's return trip to Hong Kong, a place they hadn't visited in almost two years due to the COVID-19 pandemic. Despite the excitement of being back home, they found themselves unexpectedly frustrated, sad, and lost.

The author delves into the external changes that Hong Kong has undergone, but they recognize that their emotional turmoil stems from within themselves. They highlight the importance of self-reflection for finding inner peace.

Our first point of discussion revolves around the author's familial responsibilities. They express their disappointment in themselves for not meeting certain expectations and using the pandemic as an excuse to avoid them.

It's important to recognize that avoiding responsibilities will only disrupt our inner peace in the long run. Taking the time to confront these challenges head-on can help us build stronger relationships and find a sense of fulfillment.

Moving on, the author explores the tensions within their romantic relationship. While the author believes in considering emigration for political reasons, their partner holds a different perspective due to their aging mother residing in Hong Kong.

This divergence in perspectives can create frustration and a sense of being stuck. We'll discuss how finding common ground and open communication is essential in resolving conflicts and finding compromise without compromising our own values.

Lastly, the author discusses their dissatisfaction with their own life and the societal pressures they face. They admit to feeling like they haven't reached their full potential and compare themselves to others according to societal norms.

This is a struggle many of us face – the constant comparison and the pursuit of traditional markers of success. We'll explore the importance of self-acceptance, embracing our own journey, and finding fulfillment on our own terms.

In conclusion, inner peace is not something we stumble upon; it's a journey of self-reflection and continuous improvement. It requires facing our emotions, taking responsibility for our relationships, and resisting societal pressures that hinder our self-growth.

Join me in our upcoming episodes, where we'll dive deeper into these topics and explore practical steps to cultivate inner peace amidst life's challenges. Remember, true peace begins within.

Thank you for tuning in to this episode of "Continuous Improvement." If you found this discussion valuable, please subscribe and leave a rating or review. And as always, keep striving for personal growth and embracing the path to inner peace.

Until next time, this is Victor signing off. Remember, the journey to continuous improvement starts with you.

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  • 3 min read

Positioning for Technology Consultancy

Welcome to Continuous Improvement, the podcast where we explore strategies and techniques for personal and professional growth. I'm your host, Victor, and in today's episode, we'll be diving into the topic of positioning and how it can help us stand out in a saturated market.

Positioning is all about identifying the unique attributes of our service or product, differentiating it from competitors, and effectively articulating that positioning into a compelling sales pitch. Today, we'll be focusing on creating a differentiated value proposition based on our service's unique features and capabilities.

Now, let's address a common challenge many of us face when it comes to positioning. We may find that some clients view us as technology consultants, while others see us as software developers. So, how do we compete in both categories and stand out against fully staffed software vendors?

The answer lies in effective product positioning. In a market saturated with technology consultants, even the best ones struggle to secure projects. Clients often wonder why they should choose our consultancy over the alternatives. Effective positioning can help us capture the unique value of our service in a crowded market.

Now, let's define our ideal customers. We're targeting CEOs and founders of growth-stage fintech startups who have a strong technical background. These individuals prioritize team expansion and product scaling, and they're seeking solutions to their technical challenges.

To understand our positioning better, let's take a look at some of the alternatives our target customers might consider before choosing our service.

  • Alternative 1: Outsourcing to consulting firms like Accenture, Deloitte, or Capgemini.
  • Alternative 2: Searching online for technical answers on platforms like Stack Overflow, Quora, or Reddit.
  • Alternative 3: Hiring in-house roles such as software developers, business analysts, or architects.
  • Alternative 4: Self-learning through videos on platforms like YouTube, Udemy courses, or online coding bootcamps.

So, with these alternatives in mind, how can we differentiate ourselves? Let's explore some unique attributes that set us apart.

  • First, we have our blog content that is concise and valuable, condensed into an Amazon Kindle book for easy reading.
  • We also bring product management skills and proven experience in product development to the table.
  • Our technical expertise is hands-on, ensuring we have the capabilities to deliver high-quality software solutions.
  • And finally, we have strong business acumen, which includes skills in stakeholder management, leadership, and communication.

But it doesn't end there. Our blog serves as an effective lead generation tool and offers insights and best practices specifically tailored to the banking industry. We also provide personal stories that reveal our experience in technology consulting, allowing clients to gauge our approach before engaging our services. And let's not forget about our video content, where we share stories with a touch of humor.

So, armed with these differentiated values, how do we align our blog within a framework that resonates with our target audience? Here's the breakdown:

  • First, we identify the competitive alternatives, such as DIY approaches that our ideal customers may consider.
  • Second, we highlight our unique attributes, focusing on concise and valuable blog posts, expertise, and thought leadership.
  • Third, we communicate the differentiated value we bring to the table, which includes our expertise and how it benefits our target customers.
  • Next, we define our best-fit customers, which are CEOs of Series A and Series B fintech startups.
  • And finally, we position ourselves within the market category of technology consultancy for financial companies.

So, what are the next steps in our positioning journey? By April 2022, we plan to update the landing page messages on our website, add more case studies, and conduct interviews with our top-five clients to refine our messaging.

By May 2022, we aim to create a sales pitch focused on technology consultancy, respond to Requests for Proposals, and continue adding more technology and business content to our blog for increased brand awareness.

In summary, we're repositioning ourselves as specialized technology consultants for financial companies. Through our proven agile methodology, we aim to help these companies architect and develop software solutions that improve their business performance. Our services range from software development for startups to consulting for larger tech companies and custom product management.

Thank you for joining me on this episode of Continuous Improvement. If you'd like to learn more about our services, please visit our website at victorleungtw.com. And don't hesitate to reach out to discuss how we can assist your team in both business and technology.

Remember, continuous improvement is the key to success. So let's keep evolving and finding new ways to stand out in our respective fields.