<p>Today, we’d like you to meet one of our iOS developers, Yaroslav.</p>



<p></p>



<blockquote class="wp-block-quote"><p><em>I always wanted to become a developer, so I chose programming as my major in college. I started with web development at school and later switched to iOS. I have 2-3 years of experience in web development and about 7-8 years of coding for iOS.</em></p><p><em>In mysterious ways, a year ago, my CV somehow reached Rocketech. And I am very happy to be part of this team! Perhaps, sometimes such things just happen by chance.</em></p></blockquote>



<p></p>



<h4 class="wp-block-heading">What are the advantages of working remotely for you?</h4>



<p>Overall, out of 10 or 11 years of experience, I worked at an office for about a year, even when I just started as a web developer. Once, I worked at an office in Spain. However, everything gradually turned into a remote format even there. So it’s difficult for me to highlight the benefits of remote work. It just became my life and work style initially.</p>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2240" height="1260" src="https://wp.rocketech.it/wp-content/uploads/2021/09/untitled-design-4.png" alt="" class="wp-image-1028" srcset="https://wp.rocketech.it/wp-content/uploads/2021/09/untitled-design-4.png 2240w, https://wp.rocketech.it/wp-content/uploads/2021/09/untitled-design-4-400x224.png 400w, https://wp.rocketech.it/wp-content/uploads/2021/09/untitled-design-4-614x346.png 614w" sizes="(max-width: 2240px) 100vw, 2240px" /></figure>



<h4 class="wp-block-heading">Why do you like programming?</h4>



<p>I became interested in coding when I was 12 or 13. I remember trying to create pages with the uCoz website builder. But I soon realized it wasn’t really possible to build anything decent with it. So I started writing the code and making layouts manually. That’s how programming smoothly appeared in my life, without me realizing it. </p>



<p>Back to the question, I can say that programming just brings me a thrill. This job’s challenges motivate me to keep learning, get up earlier, and go to bed later to create the best quality products.</p>



<p></p>



<h4 class="wp-block-heading">Why did you choose iOS?</h4>



<p>I switched to mobile development as this market started to grow back then. There weren’t many options – Android, Windows, and iOS. I immediately dismissed Windows because this platform was not my cup of tea. I’ve always tried to avoid it. I spent a year in Android development – between web and iOS – but I can’t say I enjoyed it. So I switched to iOS.</p>



<p>Apple is a simple case: you buy an iPhone, and after a while, all your devices are from Apple. So I once bought an iPhone, then a MacBook, and realized it was the time to start developing for iOS.</p>



<p></p>



<h4 class="wp-block-heading"><strong>What are your work-related challenges?</strong></h4>



<p>Code-related – they are always there. You encounter something new on each project and need to adapt to these new things. It alone is a big challenge.</p>



<p>Once there was an unexpected trip to Spain to develop a startup. On a Monday evening, I was casually working and not planning anything even a week ahead. And suddenly, there was a message saying I had to be in Spain on Saturday. I could refuse and, initially, I did. However, the client was successful at persuading me. And I went to Spain. Accepting such an offer and going to another country for three months is a big challenge. At the same time, it’s one of my career highlights so far.</p>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2232" height="1089" src="https://wp.rocketech.it/wp-content/uploads/2021/09/untitled-design-5-1.png" alt="" class="wp-image-1032"></figure>



<h4 class="wp-block-heading"><strong>Tell us about your projects.</strong></h4>



<p>At Rocketech, we have many small, medium, and large projects. They all are absorbing and unique in their own way. During my time at Rocketech, I’ve been engaged in many projects. It’s difficult to single out any. I can say I’ve worked with multiple iOS technologies, and I come across many of them on a daily basis.</p>



<p>Rocketech team consists of only Middle+ and Senior developers. We are glad such experienced, interesting, ambitious, and established professionals are part of our team.</p>


Yaroslav Babalich: Remote Working, Transition to iOS, and a Spanish Startup

<h2 class="wp-block-heading">Today we will tell you about Rocketech team members. Alexander Kulik is a Senior Full Stack Developer with 18-year experience.</h2>



<blockquote class="wp-block-quote"><p>“Since childhood, I was going to an electronics club: we were building computers, soldering, trying to create our own games and programs.<br>I tried different jobs but soon realized that programming is my passion and started working as a freelancer.<br>I have been working at Rocketech for 2 years already, and it’s been great here.”</p></blockquote>



<h3 class="wp-block-heading">– What are the advantages of remote work for you?</h3>



<p><strong>A: </strong>I don’t like offices at all, but there’re other reasons, too. When you work remotely, you don’t waste time on the way from home to the office and back. So that, remote work gives me extra hours of opportunity to enjoy life: I love fishing, camping, and traveling.</p>



<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://wp.rocketech.it/wp-content/uploads/2021/08/image-1-edited.png" alt="" class="wp-image-711" width="829" srcset="https://wp.rocketech.it/wp-content/uploads/2021/08/image-1-edited.png 1368w, https://wp.rocketech.it/wp-content/uploads/2021/08/image-1-edited-400x224.png 400w, https://wp.rocketech.it/wp-content/uploads/2021/08/image-1-edited-614x346.png 614w" sizes="(max-width: 1368px) 100vw, 1368px" /></figure>



<h3 class="wp-block-heading">– Why do you like programming?</h3>



<p><strong>A:</strong> The creative process of programming gives me some sort of aesthetic pleasure. Let me explain. It’s like a system with tangled wires: when you unravel them it may look the same on the outside, but it works way better with this inside order and everything is clear for the users.</p>



<h3 class="wp-block-heading">– What are the challenges of your job? Tell us about the biggest one.</h3>



<p><strong>A:</strong> The challenge is when a client wants to have the result in a too short period of time and the quality doesn’t matter to him. In such conditions it’s hard to have this “ordered system” I told you about and create a quality product.<br>The biggest one was when the task was to launch a VIP room on the website, but the project was not from scratch and the code was a mess. It wasn’t really appealing to me to fix other’s bugs and mistakes.</p>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="2240" height="1260" src="https://wp.rocketech.it/wp-content/uploads/2021/08/untitled-design-2.png" alt="" class="wp-image-715" srcset="https://wp.rocketech.it/wp-content/uploads/2021/08/untitled-design-2.png 2240w, https://wp.rocketech.it/wp-content/uploads/2021/08/untitled-design-2-400x224.png 400w, https://wp.rocketech.it/wp-content/uploads/2021/08/untitled-design-2-614x346.png 614w" sizes="(max-width: 2240px) 100vw, 2240px" /></figure>



<h3 class="wp-block-heading">– What are the moments and things you love in <strong>software</strong> development?</h3>



<p><strong>A:</strong> I like when clients thank me for the result of the work. Their review is everything!<br>I also prefer large teams: the collective mind helps to develop projects and solve problems more efficiently than doing it by yourself.</p>



<h3 class="wp-block-heading">– What could you advise younger colleagues?</h3>



<p><strong>A:</strong> Do not create crutches 😄<br>Use known practices rather than reinvent the wheel when coding/bug-fixing. Everything in programming has been written and tested for a long time, and now there are a lot of great solutions on the Internet.<br>Don’t be afraid to learn new things, in a year it will become much easier! I believe that anyone can learn anything. Motivation and desire come first, the rest is easy.</p>


Alexander Kulik: Full Stack Developer with 18 Years of Experience

<h5 class="wp-block-heading">Our team recently completed two-day Scrum Fundamentals training!</h5>



<p>Scrum is a popular framework with a 25-year history, which is used in many IT and not only companies.</p>



<p>The event was hosted by one of the Rocketech members Fedor Slesarenko, a certified specialist (PSM II, KMP I, CLP) with extensive experience in conducting training events.</p>



<p>The training event was held in a training format. In addition to the usual theoretical blocks for online learning, there were interactive exercises in small groups in Zoom using the MIro online board.</p>



<p>Scrumguide is a document no more than 20 pages in size, but the apparent simplicity is deceiving, which is why the interactive training format was chosen, thanks to which the team had the opportunity not only to refresh the theory but also to feel it in practice.</p>



<h3 class="wp-block-heading">Why was the training useful?</h3>



<figure class="wp-block-image size-full is-style-default"><img loading="lazy" decoding="async" width="2500" height="1669" src="https://wp.rocketech.it/wp-content/uploads/2021/07/dsc_8340.jpg" alt="" class="wp-image-602" srcset="https://wp.rocketech.it/wp-content/uploads/2021/07/dsc_8340.jpg 2500w, https://wp.rocketech.it/wp-content/uploads/2021/07/dsc_8340-158x106.jpg 158w" sizes="(max-width: 2500px) 100vw, 2500px" /></figure>



<p>All of us in the company are engaged in different tasks, but we do it for the sake of one thing – so that Rocketech is a reliable partner in the launch and development of successful products for businesses and startups. The main service we sell is a dedicated team.</p>



<p>The core of such a team is Scrum – a philosophy and a set of tools that enable the team to be effective and efficient.</p>



<p>In addition, Scrum is not only about the development process, but also about the organization as a whole. Scrum’s approaches and values are scalable across the entire business and inevitably are reflected in all processes.</p>



<p>For developers, such training is a must-have. Scrum is what lies at the heart of day-to-day teamwork and its effectiveness.</p>



<p>This training was an excellent tool to systematize and align the understanding of SCRUM. Rocketech team analyzed controversial issues in practice. We also highlighted the moments in which we need to adjust for constantly improving the classic Scrum in our company.</p>



<p></p>



<blockquote class="wp-block-quote"><p><strong>The</strong> <strong>2 hours of the training flew by quickly. The information was presented in an entertaining and detailed way. The practical tasks were very busy, but it would be great to have more time for them. Overall, the training was very interesting and useful. I learned a lot of new information. I am very grateful for organization!</strong></p></blockquote>



<p></p>


SCRUM Fundamentals training

<p>To earn a profit or achieve other business goals, several business departments must work together to keep it moving forward. One of the most important departments in an organization is the Human Resource (HR) department. And the best way to make it run smoothly is through HR software! HR software may streamline administrative processes and also manage other employee-related tasks, hence increasing HR productivity!</p>



<p>During business growth, there always comes the point at which it becomes difficult to manage data related to attracting, retaining, or managing people. Managing employees at the workplace manually is a time-taking activity due to which the HR solutions software development becomes necessary. HR management software has got you covered from hiring talent and managing employees to workforce planning and employee career growth.</p>



<p>Are you searching for strong reasons to start using HR solutions software for your company? Saying yes? No worries! In today’s post, we will be highlighting the top benefits of having HRM software in your company. So, do not wait anymore and let’s get started!</p>



<h1 class="wp-block-heading">What are the Top Benefits of an HR System?</h1>



<h2 class="wp-block-heading">❖ HR System Facilitates Easy Recruitment and On-Boarding</h2>



<p>The first and foremost benefit of HR software is that it facilitates easy recruitment and onboarding. A human resource management software may assist the HR managers in recruiting the right people for the business. With an HR system, a business can not only accept online resumes and applications but can also filter them so the relevant managers can receive them. It does not involve just filling the vacancies, but an HR system makes the whole recruitment process easier for the organization, hence improving the overall productivity of an organization.</p>



<p>The hiring process is a long and multi-stage process, and with the help of HR software, it is very convenient to plan, track and go through all these stages, add meetings to the calendar, store information that is accumulated at each stage. HR systems can also parse CVs from various career resources (like LinkedIn and headhunter), for example.</p>



<p>Besides, an HR system also plays an essential role in employee onboarding so that the employees can understand their new position and roles in a better way. As a result, the newly-hired employees will feel comfortable in their new workplace. They can easily understand the culture and values of a workplace and may find it easy to communicate with the other staff. The HR system can perform as a full-fledged corporate social network, forming a community, building relationships.</p>



<h2 class="wp-block-heading">❖ HR System Streamlines Internal Processes</h2>


<div class="wp-block-image is-style-default">
<figure class="alignright size-large is-resized"><img loading="lazy" decoding="async" src="https://wp.rocketech.it/wp-content/uploads/2021/06/istockphoto-1204762097-612x612-2.jpg" alt="" class="wp-image-321" width="519" height="297"></figure></div>


<p>An HR system streamlines the internal processes of an organization by simplifying the processes or removing unnecessary or complicated steps. By using a human resource management system, a structure is created in an organization where the roles and permissions of each user are clearly defined. In this way, the day-to-day processes of an organization are streamlined due to which the amount of paperwork in an organization is reduced, hence increasing cost efficiency.</p>



<p>As all employees have an accurate idea of the daily tasks or responsibilities assigned to them, they will be able to focus more on their work. They will spend less time communicating with other employees about the tasks assigned. This may not only help in time management, but the productivity of employees also increases by using HR software.</p>



<p>In short, we can say that it is the HR software by which a business can capture the progress of its employees from one place, hence streamlining internal processes and workflows of an organization.</p>



<h2 class="wp-block-heading">❖ HR System Monitors Absences and Leaves of Employees</h2>



<p>Another important benefit that HR software may bring to your web development company is that it monitors absences and leaves of employees. Without an HR solution, if an employee requests leave, you will need to handle time-consuming emails or keep track of the employee leaves manually, which may affect the productivity of your workflow. Even the reply to the emails also takes time. At times, the employee emails also get overlooked in the long chain of emails.</p>



<p>The best way to manage absences and leaves of the employees is through the HR system!</p>



<p>An HR software may automate the absence and leave of employees and handle holiday requests and employee calendars. The employees can access the HR system from any device and can get to know how many leaves they can take with just a few clicks.</p>



<p>An HR solution can also keep track of the remaining leaves of each employee and make adjustments in the employee payroll. Not only it may assist in the absence and payroll management, but it can also keep track of the upcoming holidays, events, birthdays, etc. resulting in the management of employee leave system efficiently and effectively.</p>



<h2 class="wp-block-heading">❖  HR System May Reduce Errors</h2>



<p>Without an HR system, the employees have to do all the tasks themselves, including maintaining the information of employees, keeping track of the leave structure, and formulating employee training strategies. As a result of this, the chances of human errors may increase, which may cause serious issues and may affect the profitability of the business.</p>



<p>If you use an HR system for your business, all such employee-related tasks will be automated; hence the chances of human errors may decrease.</p>



<h2 class="wp-block-heading">❖ HR System May Monitor Key Performance Indicators</h2>


<div class="wp-block-image is-style-default">
<figure class="alignleft size-large is-resized"><img loading="lazy" decoding="async" src="https://wp.rocketech.it/wp-content/uploads/2021/06/istockphoto-1320284239-612x612-1.jpg" alt="" class="wp-image-320" width="541" height="361" srcset="https://wp.rocketech.it/wp-content/uploads/2021/06/istockphoto-1320284239-612x612-1.jpg 612w, https://wp.rocketech.it/wp-content/uploads/2021/06/istockphoto-1320284239-612x612-1-158x106.jpg 158w" sizes="(max-width: 541px) 100vw, 541px" /></figure></div>


<p>Here comes another way by which an HR system can benefit your business, and it is the monitoring of key performance indicators (KPI). As the name implies, a key performance indicator may indicate the employees’ performance in terms of achieving business goals.</p>



<p>When it comes to an HR system, it can monitor the key performance indicators of a company. For example, it can monitor the duration of the position of each employee. If an employee has been in the position for so long, it is the task of the HR system to monitor the employee position and give a reminder when it is time to promote an employee.</p>



<p>An HR system can also measure the efficiency of each employee in achieving certain business objectives. It can measure the time taken by each employee to complete a certain task. In addition, an HR system can also keep track of the employee retention rate so that your organization may create effective retention strategies that may boost the organization’s productivity.</p>



<h2 class="wp-block-heading">❖ HR System Manages Employee Information Efficiently</h2>



<p>Apart from facilitating easy recruitment, streamlining internal processes, and monitoring KPIs, HR solution software can also benefit your company in managing employee information efficiently. Without the software, the HR managers need to keep the information of employees manually. This increases the paperwork and takes much time and effort. That is why it is always recommended that if you want to manage the information of your workforce efficiently and effectively, you must use an HR system.</p>



<p>The HR system can easily and conveniently configure roles and levels of access to various information: financial and/or personal. That means, each employee sees in the system exactly that information that he needs and does not see the one that is confidential.</p>



<p>Many systems have modules that allow you to keep some kind of records about an employee, for example, notes from one-to-one meetings, monitor his mood, different agreements, etc.</p>



<p>It keeps all the employees’ information at one place and protects it using diverse digital security protocols.</p>



<h2 class="wp-block-heading">❖ HR System May Help You Save Money</h2>



<p>An HR system may help your business save money. Now you must be thinking about how a business can save money by installing a costly HR system? Although installing an HR system may increase the cost due to the high setup fees, but it may save you money in the long run. If you deploy an HR system in your business, it may reduce the staffing cost and may allow your HR team to work on more strategic tasks which may result in better productivity ultimately, hence saving you money in the long run.</p>



<h2 class="wp-block-heading">❖ HR System Helps in Improved Decision Making</h2>


<div class="wp-block-image is-style-default">
<figure class="alignright size-large is-resized"><img loading="lazy" decoding="async" src="https://wp.rocketech.it/wp-content/uploads/2021/06/istockphoto-1315600205-612x612-2.jpg" alt="" class="wp-image-322" width="515" height="282"></figure></div>


<p>As mentioned earlier, an HR system may streamline the internal processes of an organization. It can not only manage employee information efficiently but can also measure the key performance indicators. All these functions of an HR solution may help HR managers design effective programs that may increase employee performance and return on investment (ROI).</p>



<p>Whether you have a small business or a large multinational company, an HR software can solve not only several HR management issues of your business but also manage daily HR activities. Although managing a small staff of 200 people is different from managing 10,000 employees at the workplace, the HR system may still improve the efficiency of your HR team. This is because as the business grows and the number of employees increases, the human resource management becomes more complicated.</p>



<p>As managers can get accurate details about the employee performance they can make the right decision for your organization. In short, we can say that an HR system helps in employee productivity and improved decision making.</p>



<h2 class="wp-block-heading">❖ <strong>HR System provides huge opportunities for analytics</strong></h2>



<p>This is one of the key features of HR software. HR systems make it possible to generate analytics for a huge number of metrics and indicators, generate various kinds of reports and statistics, on the basis of which important decisions can be made.</p>



<p>For example:</p>



<ul><li>you can see the staff turnover in one click, track the dynamics on this issue, and understand whether the measures that we are applying are effective.</li></ul>



<ul><li>to see the indicators of the recruiting funnel in order to understand at what stage people fall off, how many people we need to have at the entrance of the funnel for 1 successful offer, and so on and so on.</li></ul>



<ul><li>various kinds of statistics on wages, for example, to see how much we have raised the payroll in this half of the year for the company as a whole. There are a lot of indicators, thus any data entered into the system can be converted into statistics for this indicator.</li></ul>



<h2 class="wp-block-heading"><strong>❖ HR System for gamification purposes</strong></h2>



<p>There is special software tailored specifically for gamification, but gamification elements can be built into any custom-made software. For example, the opportunity to earn some kind of coins, achievements for activities, for outstanding achievements. Integration of quest tasks of some kind, for example, for onboarding, may be relevant.</p>



<h2 class="wp-block-heading">❖<strong> HR System for management of the benefits program</strong></h2>



<p>HR software usually contains modules in which you can assign or request benefits, add partners, control benefits usage, etc. There is also separate software solely for the benefits program. </p>



<h1 class="wp-block-heading">Final and Last Thoughts:</h1>



<p>So, these are the top benefits of HR solutions software in the workplace. Always keep in mind that the human resource (HR) management software is very important for business, whether it is small or large. From hiring talent, workforce planning, strategic employee management to policy formulation, training and development, etc., there are several benefits provided by a complete HR management software so it must be implemented in the development practices of a company. In short, we can say that an HR system may help improve your business’s HR productivity and efficiency.</p>



<p>So, what are you waiting for now? If you want to manage the daily HR tasks of your business efficiently and effectively, it is time to get HR solutions software for your company!</p>


Benefits of HR Solutions Software for Your Company

<p>Thousands of companies are going out of their way now to grab the customer’s attention and provide a quality user experience. As a result, it’s difficult to surprise anyone with classic mobile apps and chatbots. Gamification is a powerful tool to stand out from competitors. Game mechanics have long been used in education, IT and marketing. But have you thought about gamifying the banking environment? It became a hot topic not so long ago because people are rather sceptical on this point. Here are some insights on the concept of game mechanics in financial activities and the most prominent gamification examples.</p>



<h2 class="wp-block-heading">The Concept of Gamification in Business</h2>



<p>Consumers today are picky enough in terms of goods and services. At the same time, thousands of companies try to convince customers that their product is the best. But if they expect to succeed, they must take new approaches. <em>Gamification</em> is one of them. It uses game mechanics to instil desired behaviours, add bright colours to even the most conservative fields and make working with applications much more straightforward.</p>



<p>And statistics show that gamification is a serious approach with a multi-billion turnover. The global market value was $11.94 billion in 2021 (according to <a href="https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/gamification-market-100632" target="_blank" rel="noreferrer noopener">Fortune Business Insights</a>) and is expected to reach $37 billion by 2027. While some businesses are still considering gamifying aspects of their apps, other companies that use gamification have already reached different goals. </p>



<h2 class="wp-block-heading">The Impact of Gamification on Banking Services</h2>



<p>For most people, banking is a solid field that does not tolerate fun. But financial institutions want to implement fascinating features that motivate clients to use banking products more actively. Therefore, banks decide to apply game elements that can improve customer engagement, change their app activity and revolutionise the decision-making process.</p>



<p>But gamification in business does not mean a literal transformation of a banking application into a game.<em> It is rather emphasising the traditional features with game mechanics, which is vital for neobanks that operate only in the digital environment and have few communication channels to reach their clients</em>.</p>



<p>Generally, the implementation of gaming psychology affects various aspects of the banking sphere, from marketing and sales to human resources management. Financial institutions launch mobile or web apps that teach users to perform transactions, pay taxes and playfully save money. For this, they get access to the unique features of the application:</p>



<ul><li><strong>Cashback</strong></li><li><strong>Upgrading the card level</strong></li><li><strong>Participation in online auctions</strong></li><li><strong>Exclusive achievement system</strong></li></ul>



<p><em>Digital-only banks (or neobanks) present an innovative customer service approach that makes the global financial system more client-oriented. The secret is providing users with an all-in-one solution. Read more about the neobank development in 2022 </em><a href="https://rocketech.it/blog/post/will-2022-be-good-for-neobanks" target="_blank" rel="noreferrer noopener"><em>here</em></a><em>. </em></p>



<h2 class="wp-block-heading">Advantages of Gamification</h2>



<p>Gamification of banks and other financial institutions provide multiple benefits for organisations and their customers, from attracting more financing to enhanced client engagement. Let’s look at top gamification advantages.  </p>



<h3 class="wp-block-heading">New Clients</h3>



<p><em>Gaming mechanics are excellent communication and interaction tools.</em> You can attract your potential audience with a functional banking application that can be entertaining in addition to classic features. </p>



<h3 class="wp-block-heading">Introduction to New Services</h3>



<p>Gamified apps help financial institutions inform their clients about the latest services and updates quickly. </p>



<h3 class="wp-block-heading">Improved Customer Engagement</h3>



<p>The banking application with game elements makes customers use bank services more actively. </p>



<h3 class="wp-block-heading">Valuable Data</h3>



<p>The mobile solution allows you to review analytic data about the current bank audience and their behaviour. It may help you develop strategies for further improvements. </p>



<h3 class="wp-block-heading">Financial Literacy</h3>



<p>Plus, gamified banking apps act as a financial education instrument. Most people do not always understand the nuts and bolts of debt, investment and banking activities. <em>Gaming mechanics improve financial literacy and help customers to rethink their financial decision-making.</em> </p>



<h3 class="wp-block-heading">Digital Transformation</h3>



<p>These days, each banking institution aims to move with FinTech trends. Gamification can be a jumping-off point that starts the digital transformation process for every interested party, from the bank’s board of directors to employees and clients. </p>



<h2 class="wp-block-heading">Practical Gamification Examples From Banks and Financial Companies</h2>



<p>We have learned all the gamification advantages. And now, let’s review the best gamification examples in the banking industry. </p>



<h3 class="wp-block-heading">Referral Program</h3>



<p>Each bank wants to have an extensive base of reliable borrowers. However, the new approach aims to broaden the customer base by motivating your target audience to open accounts and use financial products. In most cases, businesses attract new clients by giving them something valuable for fulfilling specific conditions. For instance, <em>Payoneer </em>offers a sign-up bonus of $25 to an Affiliate and every user who registers via the referral link. </p>



<figure class="wp-block-image is-style-default"><img decoding="async" src="https://lh4.googleusercontent.com/Q4rKsw4cFLvQBCFGn9LooE06rl2kE1MWZJR4h6vf7_NvzvlfKNTPGkU_I-b3W90qtnHqe_OKjvV132l6KMN80UAHtEoD3kksWhtQTwBzFRxMVFKAH4pKclYyOyLEAck1dyL4g7nPLJctZTf1czXT2A" alt=""></figure>



<p><em>Source:</em> <a href="https://www.payoneer.com/raf/?rid=A1A1CFD2-24A2-49D4-89B1-037191369BA0" target="_blank" rel="noreferrer noopener">Payoneer</a></p>



<h3 class="wp-block-heading">Better User Experience</h3>



<p>Banks can use a gamification tool as an effective way to convey new information. In this context, the case of the<em> American Extraco Banks</em> is indicative. This financial institution had developed a browser-based quiz game to inform users about its new services. People answered questions from a virtual assistant who offered tips on how to spend less money and earn more. </p>



<figure class="wp-block-image is-style-default"><img decoding="async" src="https://lh4.googleusercontent.com/7ASpqiCyXOTxm8vyvbgnTLVk3aQcWhKWH6IjkTP5g5v5yjLzOH629hKWuFg8BGqpjaMOG9aLucd-tuXnLMXnAE2AcKDHgbeoFuW0IN4r21dR98PjEQQHyJ28T4kpI5ePYjlzAHWYBRad7TxmkcRDEA" alt=""></figure>



<p><em>Source:</em> <a href="https://vilmate.com/blog/fintech-gamification/" target="_blank" rel="noreferrer noopener">Vilmate</a></p>



<p>As a result of the program, it turned out that the “game” motivated 14% of users to start using online banking (instead of 2%, as before).</p>



<h3 class="wp-block-heading">Taking Place in the Sun</h3>



<p>When modern banks aim to attract tech-savvy customers, they may overtake competitors. The most notable example of gamification in Ukraine was the <a href="https://ain.capital/2019/02/19/story-of-monobank-fintech-band/" target="_blank" rel="noreferrer noopener">Catmania launched by Monobank</a>. In 2019, almost a third of its 1.8 million customers collected “cats”. People get badges with a white cat in various roles (Buddha, bodybuilder, runner, etc.). </p>



<figure class="wp-block-image is-style-default"><img decoding="async" src="https://lh5.googleusercontent.com/DS34H4iJgkxPFDBAxSIBpkIl40aJhFlNhP-oSe_VV704STZY1aupFJv28G-YqWvd0EOdaBcVZRcZe11lPSmApneWV8D59JDRXLxp6oR8i29caWrTrT9OdEaoslplsUkxWWNZ98PPcLgdd_ubLxYovw" alt=""></figure>



<p><em>Source:</em> <a href="https://vilmate.com/blog/fintech-gamification/" target="_blank" rel="noreferrer noopener">Vilmate</a></p>



<p>But the Ukrainian digital bank went even further and launched secret in-app games in 2020. The developers hid the game behind an account balance update. When you pull the screen with a bank statement down, a rocket flies out from there. You click on this animation while it appears on the screen, and the game starts. Its essence is straightforward: you need to catch and rescue cats and guide the rocket past asteroids and coronavirus.</p>


<div class="wp-block-image is-style-default">
<figure class="aligncenter"><img decoding="async" src="https://lh4.googleusercontent.com/lA8A_7uw-wOrXWwEDKRen-otQv5eVDfUcemmBzzyd4t6JIoyM4FX7Egm8Le_OiMO07taZgyIBXRAieufDKhnr-9xzXOkAoQsu43kZ-jwdv9AnJF2L3Z-nmb6Mz6Et6GPnlPFAvUvKzeLIU712kbQnio" alt=""></figure></div>


<p>Source: <a href="https://akzent.zp.ua/igry-s-kotom-sosiskoj-i-kosmonavtom-13-skrytyh-funktsij-v-prilozhenii-monobank/" target="_blank" rel="noreferrer noopener">akzent.zp.ua</a></p>



<h3 class="wp-block-heading">Customer’s Loyalty</h3>



<p>Gamified experience and the help of virtual assistants can enhance customer loyalty. Besides, even the traditional and cumbersome services can become more attractive and straightforward. It was confirmed by the <em>Dutch Rabobank</em>, which gamified getting a mortgage loan. </p>



<figure class="wp-block-image is-style-default"><img decoding="async" src="https://lh6.googleusercontent.com/B3VHohEuZKXfOcZUTpj_5MnpRyiXOkhw8_iO5qwS72O8JnYiB3hrYkN5L3MEtqWw7kGSJRos9iurcs8H3R7pQHhhJ-xshn5yD41wwZHp3o2z0CY0eYMJCyDsoVMNc38ZAZsiZKAePVkmOhpnvlUtLw" alt=""></figure>



<p><em>Source:</em> <a href="https://www.ijsfontein.nl/projecten/iquest" target="_blank" rel="noreferrer noopener">IJsfontein</a></p>



<p>In simple words, a complex and confusing procedure is divided into steps. After filling in all income information, the user moves to the following levels until the application is completed. Such an efficient approach can significantly reduce the client’s stress and minimise the error probability. Ultimately, customers will recommend the bank to their friends and relatives.</p>



<h2 class="wp-block-heading">Conclusion</h2>



<p>Financial institutions spend millions on implementing game mechanics. The reason is simple: they see that a gamification app is not just about badges and minigames; it is also about an excellent user experience, a broad customer base and valuable analytics. </p>



<p>Without a doubt, you may face some trouble when using gaming psychology to enhance your business activity. Such an approach requires changing the entire structure of banking services. But if stakeholders want to make the most of the financial industry digitisation, they should do it properly. </p>



<p><em>At Rocketech, we implement advanced approaches to developing marketable software. Our dedicated teams have extensive expertise in </em><a href="https://rocketech.it/cases" target="_blank" rel="noreferrer noopener"><em>various domains</em></a><em>, so they will do their best to help you launch a functional solution for your business. If you are ready to skyrocket your project, </em><a href="https://rocketech.it/contacts" target="_blank" rel="noreferrer noopener"><em>contact us</em></a><em> now!</em></p>


Gamification in Banking Industry: Examples and Best Practices

<p>Compliance has always been challenging for the FinTech industry. However, the regulatory environment has become even more complex in the last few years. For example, In September 2019, the transition period to the new standards of the <a href="https://ec.europa.eu/info/law/payment-services-psd-2-directive-eu-2015-2366_en" target="_blank" rel="noreferrer noopener">EU Payment Services Directive 2 (PSD2)</a> ended. Among others, financial companies had to accept requirements for Strong Client Authentication (SCA) and anti-copy security. </p>



<p>The pandemic and remote work phenomenon have also raised protection questions and launched FinTech compliance development. Brexit was another trigger that increased the tension. Thus, each step of FinTech companies became more closely scrutinised by regulatory bodies, which applies especially to business continuity planning. At the same time, the UK’s Financial Conduct Authority (FCA) has been striving to follow new business approaches and consider how they comply with current regulations. </p>



<p>Multi-million dollar investments and massive valuations of FinTech startups make it vital to cut all risks. How can companies in this industry improve their risk profile?</p>



<h2 class="wp-block-heading">Adapt Your Compliance Program to the Business Requirements</h2>



<p>FinTech companies create a unique financial ecosystem that offers greater opportunities than traditional institutions and a more customer-centric approach. But such innovative startups still need to understand how the FinTech regulatory requirements affect the business development strategy (especially cooperation with other projects). </p>



<p>If you have decided to partner with a specific service, you should be aware of any risks posed by your partner. Therefore, your compliance team should have a complete understanding of legislation at all levels, from local to international, and expertise across different industries. It makes the compliance officer role more complex, but the right knowledge is vital. </p>



<h2 class="wp-block-heading">Face Challenges</h2>



<p>As we said above, FinTech is closely related to many other business sectors. Therefore, it might be challenging to merge a compliance strategy with understanding the requirements of the financial regulator. </p>



<p>For instance, companies often face budget restrictions (in particular new projects that gain traction and look for their well-defined niche). They often lack the resources to invest in an ironclad compliance program, and labour and technology are the most significant items of expenditure. </p>



<p>But if you have to contend with financial regulator representatives, a lack of funds for an extensive program will be a bad excuse. You still have to set a compliance strategy following as your priority and target it to your specific risks, whether you should implement a manual or automated approach. Therefore, FinTech startups should think about FinTech regulatory compliance financing as early as possible. It is better to set a budget at the first business planning stage than solve this problem during the project.</p>



<p>Of course, FinTech companies cannot always predict which processes to automate and what tasks are better to entrust to real employees. Heavy reliance on technologies speeds up transactions and reduces the fraud risks, but there are no clear recommendations on the automation level. It is especially complex concerning compliance when the human factor plays a decisive role and somewhat prevails over the digital one. Thus, you should combine and balance cutting-edge technology and human control when working on the FinTech product. </p>



<p><em>Neobanks is a vital part of the FinTech ecosystem that aims to revolutionise the customer service approach, providing them with an all-in-one solution. Find out more about their outlook for 2022 </em><a href="https://rocketech.it/blog/post/will-2022-be-good-for-neobanks" target="_blank" rel="noreferrer noopener"><em>here</em></a><em>.</em></p>



<h2 class="wp-block-heading">Vital Aspects to Consider</h2>



<p>No two FinTech startups will operate in the same way, emphasising the need to implement a unique approach. At the same time, you can build a customised compliance approach based on proven methods. And here are four critical factors to consider when developing a risk-based program. </p>



<ul><li><strong>The voice of management is a priority</strong> — Each business should ensure that project managers understand the significant role of solving FinTech compliance issues with a unique strategy and can convey this message to their employees.</li><li><strong>Pay enough attention to the KYC algorithm</strong> — The reliable KYC (Know Your Customer) system helps FinTech startups assess customer risks adequately. By knowing the expected and actual behavioural patterns regarding transactions, you identify deviations and eliminate them quickly. After all, transactions with individuals and legal entities under sanctions are out of the question.</li><li><strong>Set up the AML controls</strong> — As we said above, all FinTech projects have different features and objectives. When discussing payments, your startup has to set an AML (anti-money laundering) policy. Monitoring and mitigating vulnerabilities are crucial to having an ironclad legal and regulatory compliance strategy.  </li><li><strong>Monitor the developments of regulatory body requirements</strong> — The requirements constantly improve, so your compliance team should check for new rules and regulations and update the service promptly. The compliance department is responsible for your relations with control bodies, so you should take this issue seriously.</li></ul>



<p>Evidently, FinTech startups should collaborate with regulatory authorities and constantly ensure compliance with laws and regulations. It will help to please regulators and customers who rely on reliability.</p>



<h2 class="wp-block-heading">Moving Forward</h2>



<p>FinTech startups are the basis of the future financial system. Many businesses are skyrocketing, and if a certain industry needs a digital solution that makes payments more straightforward, FinTech will fill that niche. That is why regulatory body requirements constantly develop to keep up with the time. Thus, every FinTech company should set financial services regulatory compliance as a top priority and fit the program with possible risk events. It will help startups to tackle new challenges successfully. </p>



<p><em>At Rocketech, we know how to develop functional and valuable software. Our dedicated teams provide quality </em><a href="https://rocketech.it/services" target="_blank" rel="noreferrer noopener"><em>assistance</em></a><em> in creating digital products that comply with all industry standards and regulations. It will help your business increase revenue and expand the customer base. And if you are ready to skyrocket your project with marketable software, </em><a href="https://rocketech.it/contacts" target="_blank" rel="noreferrer noopener"><em>contact us</em></a><em> now!</em></p>


Can FinTechs Win the Regulatory Compliance Game?

<p>Today’s business trends will be the harbingers of change and open up new opportunities for companies during the <a href="https://www.statnews.com/2021/01/04/five-key-milestones-in-the-covid19-pandemic-2021/" target="_blank" rel="noreferrer noopener">delayed Covid-19 pandemic.</a> Almost all of them rely on cloud or edge computing, analytics, data collection, security, and IT investments. They were chosen based on the criterion of their potential, but only companies can decide which ones to use. In this article, we will take a look at the trends of the future, divided into key topics.  </p>



<h2 class="wp-block-heading">People centricity</h2>



<p>The Covid-19 pandemic has affected the world’s working population, but people remain a central resource for business processes. Therefore, digitization and automation of key procedures have become the main ideas that underlie the trends of the topic. </p>



<h2 class="wp-block-heading">1. Internet of Behaviors (IoB)</h2>



<p>A new sales and marketing tool that allows you to collect, combine, and analyze data. IoB helps companies better understand customers by showing the path from product interest to product usage methodology. The collected data will suggest how to improve the quality and efficiency of services. </p>



<p>The IoB processes information on various online activities, such as commercial transactions, social media activities, and the designation of geolocation places. For example, company vehicles can track driver maneuvers like sudden braking or sharp turns. The resulting analytics help to improve machine safety and performance.</p>



<p>The Internet of Behaviors has moral and social implications that depend on the results of its individual use. The loss of privacy and the durable feeling of being monitored can negatively impact user attitudes. Data protection laws and other legal acts will influence the further spread of IoB.</p>



<h2 class="wp-block-heading">2. Total Experience (TX)</h2>



<p>The method of building a total experience consists of 4 areas, linking them together in one formula: TX = UX + CX + MX + EX. The total experience includes interactions with customers, users, employees, and the entire team. The main goal is to improve TX at the point where they all intersect.</p>



<p>The total experience is a lasting competitive advantage because it is difficult to replicate. In addition, it forms the image of the company, influencing the quality of services. TX creation consists of establishing trust and communication with users; possession of information about the goals of clients; retention of all points of contact. </p>



<h2 class="wp-block-heading">3. Privacy-enhancing computation</h2>



<p>A method that allows companies to collaborate on secure terms in different countries and with any competitors. The computation that ensures confidentiality consists of 3 security technologies: homomorphic encryption, trusted runtime environment, and storage of personal data. They perform the following functions: </p>



<ol>
<li>Create an area where data is processed or analyzed. </li>



<li>Carry out processes in a decentralized manner. </li>



<li>Encode data and algorithms before being analyzed or processed. </li>
</ol>



<p>Sharing data using this approach is subject to security and confidentiality standards. </p>



<h3 class="wp-block-heading">Location independence</h3>



<p>Covid constraints have forced organizations to replace obsolete technologies and implement new process management systems. Trends reveal new solutions for connecting users and data, increasing cybersecurity in a single environment.</p>



<h2 class="wp-block-heading">4. Anywhere operations</h2>



<p>A universal model that provides companies with constant openness and activity for users in any location. It offers advanced features such as secure remote access and many more. Also, companies that use this model can provide product-to-market readiness, as well as assistance to employees and consumers worldwide.</p>



<p>The introduction of Anywhere operations saves money and time resources, facilitates the work of employees, and increases their efficiency. For example, processing financial transactions without physical interaction makes it possible to carry out transactions in any place where you can access the internet. The model has become especially popular due to the pandemic and subsequent restrictions. </p>



<h2 class="wp-block-heading">5. Distributed cloud</h2>



<p>A public cloud computing service where services are distributed to the required points. It provides a foundation for edge computing and resolves operational and management issues in a hybrid cloud or multi-cloud environment. </p>



<p>Companies can distribute services nearby. This approach will reduce data resources and help adhere to rules that prohibit information from going beyond a particular geographic area. Organizations benefit from the public cloud but do not manage their private cloud, which will impact costs. </p>



<h2 class="wp-block-heading">6. Cybersecurity mesh </h2>



<p>The technology is based on a distributed structured approach that provides flexible control. It supports IAM queries and provides a unified model for enterprise data protection management. Based on the mesh model, decentralized identification standards are emerging aimed at ensuring confidentiality. </p>



<p>The mash method allows you to build a secure digital wall around a user or object. It provides a modular and standardized approach to protecting against hackers, constantly developing to meet current requirements. </p>



<h3 class="wp-block-heading">Resilient Delivery </h3>



<p>The instability of the situation due to various force majeure circumstances causes global changes in the market: leaders are the organizations that can adapt to these conditions. Also, such tendencies reveal ways of transforming and optimizing business under the influence of the dynamic development of future technologies.</p>



<h2 class="wp-block-heading">7. AI engineering</h2>


<div class="wp-block-image is-style-default">
<figure class="alignleft size-full is-resized"><img loading="lazy" decoding="async" src="https://wp.rocketech.it/wp-content/uploads/2021/09/istockphoto-1249865563-612x612-1.jpg" alt="" class="wp-image-1151" width="504" height="283" srcset="https://wp.rocketech.it/wp-content/uploads/2021/09/istockphoto-1249865563-612x612-1.jpg 612w, https://wp.rocketech.it/wp-content/uploads/2021/09/istockphoto-1249865563-612x612-1-400x224.jpg 400w" sizes="(max-width: 504px) 100vw, 504px" /></figure></div>


<p>A new discipline that includes tool development and design according to human needs, combining the principles of systems engineering. Artificial intelligence can solve any overwhelming challenges related to management and maintenance. The use of AI strategies can improve the performance of the created models and get a return on investment. </p>



<p>AI development aims to form the base and tools necessary for work in ambiguous and dynamic situations. The result is a human-centered, scalable, and secure AI that has been tested outside of the controlled environment. </p>



<h2 class="wp-block-heading">8. Intelligent composable business</h2>



<p>Composable business is about accelerating digital transformation. It redesigns the decision-making process, making it more flexible and faster. The model allows companies to adapt to external and internal factors. It includes three blocks such as Composite Technology, Composite Thinking, and Business Structures.</p>



<p>Organizations follow guiding principles to adapt to real-time situations. These include autonomous stability, increased maneuverability, precise control, and high speed. Companies provide enhanced access to information to ensure efficient processes and quick response. </p>



<h2 class="wp-block-heading">9. Hyper Automation</h2>



<p>An automation procedure using a set of key tools: Robotic Process Automation (RPA), Machine Learning (ML), and Artificial Intelligence (AI). Combining them will simplify and speed up the most complex work,  reducing the burden on employees. </p>



<p>The digital workers will replace the living workforce for routine tasks, greatly increasing productivity. They control the main processes, work with data, analyze it, and make decisions. You may lose a leadership position if your company does not aim to improve the efficiency and flexibility of core business with automation. </p>



<p>A selection of technology trends will guide companies in the areas for future development that will help them adapt to difficult economic situations. </p>


Gartner's Technology Trends of Tomorrow

<p>Building the right customer-vendor relationship is vital for successful project completion. In the world of custom software development, each pricing model has its pros and cons, both for the customer and the contractor.</p>



<p>The Time and Material model is a widespread form of financial collaboration that works perfectly in many common scenarios — from IT outstaffing to scaling already existing products. The Rocketech analysts summed up what you need to know about our approach and how you can benefit from this contract type.</p>



<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" src="https://wp.rocketech.it/wp-content/uploads/2022/12/software-development.png" alt="" class="wp-image-4518" width="656" height="465"></figure>



<h2 class="wp-block-heading"><strong>What Is T&amp;M?</strong></h2>



<p>Most often, the Time and Material (T&amp;M) pricing model is described as IT outstaffing and team augmentation. It means the client company<strong> already has a team and tech documentation and needs a professional or technical boost</strong>.</p>



<blockquote class="wp-block-quote">
<p><em>The Time and Material model means paying for the result based on labour cost. The customer doesn’t pay for the amount of work but </em><strong><em>hours </em></strong><em>spent by the contractor’s team on software development and implementation. T&amp;M is an effective starting point for projects with too much uncertainty.</em></p>
</blockquote>



<p>What is a Time and Material contract? The Rocketech approach to the T&amp;M pricing is a secure alternative to hiring freelancers. We help our clients to cover their HR gaps by providing access to highly skilled and experienced professionals with relevant expertise. Besides, we provide maximum transparency: <em>we agree on a fixed number of hours</em> before the project start. While knowing what they are paying for, the clients also distribute the workload according to their management process.</p>



<p>By signing a Time and Material contract, our clients get a reliable HR partner who takes over the entire recruitment process: we find and hire developers, replace them if needed and assemble whole teams in a short time.</p>



<figure class="wp-block-image is-style-default"><img decoding="async" src="https://lh3.googleusercontent.com/TK0svv7zgN1SY64gRr_ge778ebjBeBEYh5ywF5Kzd0BWIdLIEFsBvs28ZJe1AuvjJ-uRajO-cCwD-URusm4lhUoi5NqV13-5jhFVQhUzzitX_pumh8iwkNHN1X0JSMperhW5lemyR1Dg" alt=""></figure>



<h2 class="wp-block-heading"><strong>When Does T&amp;M Work Best?</strong></h2>



<p>Over years, we have patterned the most common scenarios according to the clients’ niches, the scope of work, or the project type.</p>



<h3 class="wp-block-heading"><strong>Scenario #1</strong></h3>



<p><strong>Challenge</strong>: A founder already has a team missing one or two developers. The startup cannot solve this task for different reasons, from a lack of resources to not having an HR department and recruitment processes.</p>



<p><strong>Solution</strong>: We leverage our well-established recruiting and onboarding processes to find the best candidate with relevant expertise. While we are responsible for the HR side of the contract, the client has total management control over the project and the tasks assigned to the new team member.</p>



<h3 class="wp-block-heading"><strong>Scenario #2</strong></h3>



<p><strong>Challenge</strong>: A founder has a product idea of any size but a limited budget and no development experience. The task is to “start small” with a simple development project helping them test the first hypotheses. </p>



<p><strong>Solution</strong>: We help the client to find a versatile professional to start the project slowly and steadily.</p>



<p><strong>Approximate calculations</strong>: With a $30K budget, a client will have less than 2 months of Dedicated Team services. On the other hand, the T&amp;M contract will guarantee 4 to 5 months of development. Moreover, the T&amp;M pricing provides maximum flexibility in the case of frequently changing requirements.</p>



<h3 class="wp-block-heading"><strong>Scenario #3</strong></h3>



<p><strong>Challenge</strong>: A client company already has an almost finished product — just a few small features are yet to be polished. However, the client couldn’t calculate the unit economics or was late to raise a round of financing. It makes the project unprofitable in its current state.</p>



<p><strong>Solution</strong>: The client can revise the team structure and keep 1⁠–⁠2 developers to lower the development cost and reach the goal with a smaller budget and at a slower pace.</p>



<h3 class="wp-block-heading"><strong>Scenario #4</strong></h3>



<p><strong>Challenge</strong>: A client has extended documentation and an experienced product owner (PO) who can define tasks and formulate technical requirements. The client wants to dive deep into the process and manage the team.</p>



<p><strong>Solution</strong>: We provide the team according to the business goals and technical requirements. However, the client takes all responsibility for the outcome.</p>



<blockquote class="wp-block-quote">
<p><strong><em>Rocketech is not an outstaffing agency. We partner with our clients and complement them with missing elements necessary to reach their objectives successfully. When we provide one developer as team augmentation, we also can easily assign an entire </em></strong><a href="https://rocketech.it/blog/post/dedicated-team-the-future-of-software-development" target="_blank" rel="noreferrer noopener"><strong><em>Dedicated Team</em></strong></a><strong><em> within a short time.</em></strong></p>
</blockquote>



<h2 class="wp-block-heading"><strong>T&amp;M Model Benefits</strong></h2>



<ul>
<li><strong>No risks of infrastructure migration.</strong></li>
</ul>



<p>Specialists assigned to the project under a T&amp;M contract operate in clients’ environments. It’s a convenient way to store and protect even the most sensitive data. Besides, we always work with strict NDAs.</p>



<ul>
<li><strong>Total flexibility.</strong></li>
</ul>



<p>Despite the common misconception that the Time and Material pricing formula is designed by dishonest vendors to “drain” money from a client, this approach provides great flexibility to control the workload and budget. We adjust to any changes in our clients’ business operations and expand or reduce the team at any time with no negative impact on the project.</p>



<ul>
<li><strong>Enhanced HR operations</strong>.</li>
</ul>



<p>Finding suitable candidates is one of the biggest challenges for young startups. In an ideal world, you need a structured HR department with well-established processes. Most newly founded companies don’t have a budget for it in the early stages. Under a T&amp;M model software development agreement, clients don’t spend resources on headhunting. Our recruiting system and in-house HRs help our clients quickly find strong candidates. We onboard required professionals and replace them free of charge if anything doesn’t go according to the plan.</p>



<blockquote class="wp-block-quote">
<p><em>At Rocketech, we collaborate only with Middle+ and Senior level specialists. We don’t train Junior employees at our partners’ cost.</em></p>
</blockquote>



<ul>
<li><strong>Highest level of expertise</strong>.</li>
</ul>



<p>We assign developers with relevant experience in the client’s niche based on specific skills, the project needs, and detailed market analysis. We revisit tech stacks and competencies if requirements change. On top of that, all our developers pass a several-stage interview and have advanced soft skills.</p>



<ul>
<li><strong>Quick start</strong>.</li>
</ul>



<p>Whether our clients build a new team or need a particular specialist to contribute to the project on a short-time basis, we assign the required people within a week. Our partners don’t need to sign contracts, look for office spaces or worry about insurance.</p>



<h2 class="wp-block-heading"><strong>T&amp;M Project Management</strong></h2>



<p>While the T&amp;M pricing model takes a lot of weight off the client’s shoulders, there’s one aspect they need to consider before signing the contract. Along with the risks, project management becomes their full responsibility. It implies deciding who, how, and when implements the product.</p>



<p>Besides, having a resource boost, clients can set up their custom processes from scratch. In this case, they have total freedom to choose the tools and channels, Excel, Asana, Telegram, Slack, Jira,<em> </em>and <em>Trello</em>, just to name a few. At the same time, it means that the project managers or founders of the client company micromanage, assign tasks to developers and dive deeply into the process.</p>



<blockquote class="wp-block-quote">
<p><em>If the client doesn’t have an established management process, all stakeholders will face major difficulties to organise the workflow and reach the project goals. </em></p>
</blockquote>



<p>In other words, to get all the model’s benefits, clients must have technical specifications, project managers, product owners, or/and an existing in-house team. However, once the project grows into a full-fledged product, POs often lack resources for proper team management. In this case, we provide a smooth transition to the next level, help our clients set all internal processes, and introduce standards. </p>



<h2 class="wp-block-heading"><strong>Final Thoughts</strong></h2>



<p><strong>The Time and Material software development services imply a quote for a fixed hourly rate for each specialist and the cost of essentials</strong>. The T&amp;M contracts are a go-to option for startups where founders manage the developers and large projects that need their teams boosted.</p>



<p>At Rocketech, we have elaborated our approach to this pricing model based on the results of over 150 successfully completed projects. We partner with our clients to reinforce their teams and resources to succeed together. <a href="https://rocketech.it/contacts" target="_blank" rel="noreferrer noopener">Contact us</a> for more details.</p>


The Flexibility of Time and Material Contracts

<p>The population of Europe is almost 736 million people, and about 89% of them use the Internet daily. <a href="https://ecommerce-europe.eu/wp-content/uploads/2021/09/2021-European-E-commerce-Report-LIGHT-VERSION.pdf" target="_blank" rel="noreferrer noopener">European E-Commerce</a> reports that 73% of Europe’s digital population purchased goods online in 2021. The most demanded business models on the market were B2B, B2C, and a relatively young player, D2C. </p>



<p>According to <a href="https://www.ons.gov.uk/economy/grossdomesticproductgdp/articles/impactofthecoronaviruscovid19pandemiconretailsalesin2020/2021-01-28" target="_blank" rel="noreferrer noopener">ONS</a>, the COVID-19 pandemic reduced offline store revenues by 1,9%, while demand for services and goods in the E-Commerce sector increased by 33.9%. </p>



<p>Rocketech experts researched the European market and prepared a summary of 2021 results. You will find out about changes in the world of e-commerce and points young companies or entrepreneurs need to consider when launching their digital commerce projects in 2022.</p>



<h2 class="wp-block-heading">Key Figures in European E-commerce for 2021</h2>



<p>The world of commerce is gradually digitizing due to the impact of COVID-19. While <a href="https://www.sana-commerce.com/b2b-buyer-report/" target="_blank" rel="noreferrer noopener">94% of B2B consumers</a> have a negative online shopping experience, traditional consumer retail has a better time. For example, <a href="https://www.scs.co.uk/" target="_blank" rel="noreferrer noopener">SCS</a>, an English sofa distributor, has increased revenue by 146% over the past year. Sales reached a peak at the beginning of the lockdown, and now the number of orders is gradually returning to the pre-COVID level. </p>



<h3 class="wp-block-heading">Analysis of Commerce on the Example of Shopify</h3>



<p>The global giant of commerce, the Shopify marketplace, has provided a <a href="https://www.salesforce.com/resources/research-reports/shopping-index/" target="_blank" rel="noreferrer noopener">report</a> on the results of 2021, which shows general statistics from more than 1 billion users. The peak of sales worldwide was noticed at the beginning of 2021, namely +65% compared to the same period in 2019. This is a global increase. In Eastern Europe, this figure reached + 77% in the first quarter of 2021. By the end of the year, the hype had dropped to 10% and 13%, respectively.</p>



<p>When making purchases on the platform, 60% of users placed orders with smartphones, 38% with laptops and PCs, and only 2% held tablets in their hands. This ratio of devices and traffic demonstrates the need to support 2 main sales channels. That’s why it is so important to build cross-platform apps and websites for retail.</p>



<p>The global conversion rate for the reporting period was 2.7%. The Netherlands and the UK became leaders with CRs of 3.4% and 3.2%, respectively. Eastern Europe was less decisive and ranked 8th with 2.3%. The average one-time purchase amount varied in the range of $80-$100 globally, and for Eastern Europe, this figure did not exceed $50 during the reporting period. </p>



<h3 class="wp-block-heading">General European Statistics</h3>



<p>Unlike Asian countries and the US, the e-commerce market in Europe is just starting to develop. Despite the small number of domestic stores, Europeans love to buy goods online. A <a href="https://ecommerce-europe.eu/wp-content/uploads/2021/09/2021-European-E-commerce-Report-LIGHT-VERSION.pdf" target="_blank" rel="noreferrer noopener">European E-Commerce</a> report states that as of early 2021, 91% of UK residents were actively ordering goods online. About 41% of them make more than 6 purchases per month. </p>



<p>In total, Western Europe leads in terms of the number of online purchases with 86% of involved consumers. It is followed by the Northern part of Europe and 82% of buyers. Eastern Europe has 41% of online customers. These figures clearly demonstrate the difference in income and development level of the trade sector in different parts of Europe. </p>



<h3 class="wp-block-heading">How Much IT Solutions Penetrate E-commerce</h3>



<p><a href="https://www.statista.com/statistics/379046/worldwide-retail-e-commerce-sales/" target="_blank" rel="noreferrer noopener">Forecasts for the development</a> of digital retail are optimistic: the expected amount of online sales is estimated at $5.4 trillion by the end of 2022, which is $1.12 trillion more than in 2020. One of the decisive factors for successful trading is the technical part of stores. Whether it’s a marketplace, a personal showcase, or a page on a social network, the level of consumer loyalty depends on the quality of a digital product. An essential component of online retail is the distributor system, especially if the seller works following the dropshipping model, delegating logistics to suppliers or manufacturers.</p>



<p>Retailers spent $2.8 billion in 2019 developing and implementing chatbots into their products. Over the past 2 years, they have shown their effectiveness so much that over $142 billion will be invested in this technology by 2024, according to Juniper Research. Personalized branded assistants will be the most popular. They will be about 80% of all AI solutions for digital retail.</p>



<p>Cryptocurrency is replacing traditional payment methods. <a href="https://s25.q4cdn.com/479285134/files/doc_news/Mastercard-New-Payments-Index-Consumer-Appetite-for-Digital-Payments-Takes-Off-2021.pdf" target="_blank" rel="noreferrer noopener">MasterCard</a> reports that 75% of millennials are ready to switch to paying with crypto if they study it thoroughly. A good example of the popularity of tokens is NFT trading platforms.</p>



<p>Security and privacy protection were also trending in 2021. About 93% of respondents said that smartphone biometric authentication is reliable and easy to use. Also, the statistics show that more than 90% of all transactions in offline and online trade are successful if a seller uses contactless payment.</p>



<h3 class="wp-block-heading">Social Commerce: Facebook, Instagram, and Tiktok</h3>



<p>Marketers have long learned the benefits of omnichannel product promotion. Retailers also liked this idea, in particular B2C and D2C businesses. Global sales through social networks crossed the mark of $560 billion in 2020, and this figure will increase to $2.6 trillion by 2026, according to <a href="https://www.statista.com/statistics/1251145/social-commerce-sales-worldwide/" target="_blank" rel="noreferrer noopener">Statista</a>. An increase of 4.64 times in 6 years is not a bad result, considering that advertising costs make up about 10% of this amount.</p>



<p>The average age of consumers purchasing goods through social networks is 18-34 years. The British are the most loyal to this type of commerce: they often invest in advertising and order goods from omnichannel retailers. <a href="https://www.statista.com/statistics/461963/social-media-advertising-revenue-countries-digital-market-outlook-europe/" target="_blank" rel="noreferrer noopener">Statista</a> predicts that SMM revenues for UK companies will increase to $7.4 billion over the next 2 years.</p>



<h3 class="wp-block-heading">COVID-19 in E-Commerce</h3>



<p><a href="https://digitallibrary.un.org/record/3886558" target="_blank" rel="noreferrer noopener">UNCTAD</a> found that 49% of respondents consciously engaged in online shopping during the pandemic. The age group of 25-44 years prevails among them, and 51% of positive answers come from women. The top categories of ordered goods were cosmetics, digital entertainment, food, clothing, and pharmacology. In 85% of purchases, delivery was carried out by courier and handed over personally.</p>



<p>The <a href="https://ecommerce-europe.eu/wp-content/uploads/2021/09/2021-European-E-commerce-Report-LIGHT-VERSION.pdf" target="_blank" rel="noreferrer noopener">EUROPE E-COMMERCE REPORT 2021</a> confirms that most respondents preferred e-commerce over traditional commerce in 2020-2021. As expected, the leaders of digital consumers were the UK (92%), the Netherlands (91%), Denmark (90%), and Switzerland (90%). Germany closes the top five with 87% of online shoppers.</p>



<h2 class="wp-block-heading">How Can New Players Launch an E-comm Business in 2022? </h2>



<p>When planning to launch your own e-commerce product on the market, consider the competition in your niche. Now it is so high that you may risk losing among rivals. Distinguish demanded products in your segment, analyze them, and highlight the best things to implement and the worst things to avoid. It will help you enter the rapid flow of e-commerce and stay in it, or even rise above.</p>



<p>Plan your roadmap ahead of time: consider scaling up or moving to an omnichannel sales strategy. Order MVP development from professionals because a high-quality IT solution is easier to transform into a full-fledged trading system.</p>



<p>Follow the trends. In e-commerce, innovation speed and courage are essential. Sometimes the craziest ideas can be the most effective. Let’s look at 2 key vectors for developing IT products for trade in 2022. They will become the basis of successful marketplaces and showcases in the next decade.</p>



<h3 class="wp-block-heading">Focus on the Customer</h3>



<p>Modern applications and trading platforms must provide clients with clear management logic and critical elements. In the E-commerce segment, these are filters and product categories, simple shopping carts offering related products, relevant descriptions with detailed characteristics, and high-quality content. </p>



<p>Your app must work smoothly and quickly on any device, storing data in the cloud. Integrate multi-platform accounts that will allow you to authenticate users without registration. They allow for signing in with Google, Facebook, etc. Another vital component is 24/7 technical support, as well as a chatbot for automated consultations and connecting third-party payment systems. </p>



<h3 class="wp-block-heading">Logistics Connectivity</h3>



<p>Since most E-commerce startups and newbies start with a dropshipping model, it’s necessary to 100% synchronize their stores with supplier bases. It automates uploading data to product cards in showcases and speeds up the transfer of customer information for delivery.</p>



<p>A perfect integration model is a well-established system that links CRM, ERP, WMS, and logistics services. It is necessary for complete control over payment, shipping, delivery, and return of goods. Such systems are used everywhere and are constantly being improved by new features. Standard toolkits include accounting, logistics, payment, and warehouse control. But in the case of startups, some functions may be abandoned. You may connect them later when your business develops and scales.</p>



<h2 class="wp-block-heading">Let’s Summarize</h2>



<p>To start an E-Commerce business, you should focus on the young but promising market of Eastern Europe. Although the level of income and expenses there is lower than that of Western colleagues, the digital commerce space there has not yet been occupied by market giants, so it’s a tasty morsel for startup entrepreneurs. </p>



<p>All you need to launch a marketplace or store successfully is a business plan, idea, and IT solution. You can handle the first two yourself, and we, Rocketech, will help with the last. With our services, your project will quickly conquer the emerging market of Eastern Europe and enter a list of leaders. You may contact <a href="https://rocketech.it/ru/contacts" target="_blank" rel="noreferrer noopener">our manager</a> to order a top IT solution!</p>


2021 Outcomes for European E-Commerce: What New Companies Need to Know Before Entering the Market

<p>The education field has been known for its cumbersome nature over the past decades. But now, it implements all current solutions at a rapid pace. Therefore, the education technology industry evolved, and there are no signs of slowing down. During the last ten years, Edtech was turning into a huge multi-billion market for large and small businesses all over the globe, so the current market value is $127 billion (according to <a href="https://www.grandviewresearch.com/industry-analysis/education-technology-market" target="_blank" rel="noreferrer noopener">Grand View Research</a>). </p>



<p>As George Couros said, technology can revolutionise the world if it winds up in the right hands. We offer to learn more about the Edtech landscape and the most promising niches in 2022. </p>



<h2 class="wp-block-heading">What Drives the Edtech Industry</h2>



<p>The field of educational technology introduces many cutting-edge technologies every year, which attracts the attention of investors and enterprises. This rapid growth has also been possible due to three critical phenomena. </p>



<h3 class="wp-block-heading">COVID-19</h3>



<p>The global pandemic and the massive transition of people online have led to a total increase in demand for eLearning. </p>



<p>And the importance of the pandemic in this regard cannot be overstated. Over 1.5 billion learners worldwide were forced to learn online, and the <em>entire educational system began to use products of </em><em>Edtech companies</em> in the shortest possible time. Despite the easing of restrictions, the coronavirus impact is still strongly felt.</p>



<p>But will education technology continue to boom after the whole world returns to normality? The <a href="https://www.grandviewresearch.com/industry-analysis/education-technology-market" target="_blank" rel="noreferrer noopener">Grand View Research report</a> shows that the rising trend will remain stable with an 18.1% growth rate every year, and the market value is expected to reach $285.2 billion by 2027. </p>



<h3 class="wp-block-heading">Global Edtech Challenges</h3>



<p>The education field has traditional roots, so it is full of obstacles. But there are also some opportunities that the Edtech industry provides. </p>



<ul><li>Full accessibility</li><li>Low costs of education</li><li>High-quality remote learning</li><li>Learning opportunities for enterprises</li></ul>



<p>And the best Edtech companies in the world can make the most of these opportunities and drive changes in the entire industry.</p>



<h3 class="wp-block-heading">The Overall Digitisation</h3>



<p>The transition to digital solutions increases the learning effectiveness and reduces the volume of routine tasks performed manually. Plus, process automation will benefit both corporate training programs and online schools.</p>



<p>For example, some educational systems <em>provide the content to a large audience</em> (EdX, Udemy, Coursera, Skillshare, Masterclass, etc.), <em>organise group interactions</em> (Zoom, Google Meet, Microsoft Teams, and many others), <em>provide analytics</em> (BrightBytes, Civitas Learning) and so forth. </p>



<p><em>There are not all drivers of such a skyrocketing industry that affects the whole world. Learn more about the latest education trends </em><a href="https://rocketech.it/blog/post/the-top-five-edtech-trends-in-2022-2" target="_blank" rel="noreferrer noopener"><em>here</em></a><em>. </em></p>



<h2 class="wp-block-heading">Top 4 Promising Niches</h2>



<p>The first step when creating an Edtech product is selecting the market niche. Of course, you should follow the current trends to attract investors and potential customers. Let’s find out the four most promising fields to fill in 2022. </p>



<h3 class="wp-block-heading">Prekindergarten (Pre-K)</h3>



<p>More countries implement compulsory early childhood education, but the coronavirus pandemic nearly ruined those plans. However, the authorities quickly found a way out of the situation. They decided to dive deeper into the aspects of educational technology.</p>



<p>And now, kids can learn letters, vocabulary, numbers, and life skills via cutting-edge and engaging apps for handheld devices. Many of these impactful tools provide<em> AI </em>and <em>VR functions</em> that help to fulfil Pre-K children’s needs. </p>



<h3 class="wp-block-heading">Bootcamps</h3>



<p>There are <em>short learning programs</em> (mostly IT) about six months long and <em>aim to prepare experts for new professions</em>. For example, many large enterprises organise bootcamps to find new talents and improve staff qualifications. Further, students don’t need to pay for the participation until getting hired in the desired position. </p>



<p>This Edtech niche is currently in very high demand. According to the data provided by the <a href="https://www.bls.gov/ooh/computer-and-information-technology/software-developers.htm#tab-6" target="_blank" rel="noreferrer noopener">US Bureau of Labour</a>, the employment of software and QA specialists will grow by 22% until 2030. Another survey from <a href="https://thriveglobal.com/stories/are-coding-bootcamps-the-next-big-thing-in-edtech/" target="_blank" rel="noreferrer noopener">Switchup</a> states that 68% of bootcamp graduates find jobs in the required position within six months. </p>



<h3 class="wp-block-heading">Advanced Teacher Training</h3>



<p>Many training programmes are very difficult to implement in a digital environment. It is all because of the lack of teachers, especially those with a PhD degree. In the US alone, <a href="https://nces.ed.gov/programs/digest/d20/tables/dt20_209.10.asp" target="_blank" rel="noreferrer noopener">only 1,2%</a> of professionals over the age of 25 have a doctorate to take the position of the department head or dean. Moreover, an enormous amount of teachers decide to change a profession or even retire, so <em>Edtech platforms are becoming popular among people all over the world to train prospective teachers</em>. </p>



<p>Therefore, authorities worldwide try to implement educational technology for teaching and learning. More colleges and universities offer online Doctor of Education (EdD) courses about 32-months long, allowing to save up to 3 years of training. As a result, the entire industry gets in-demand teachers and specialised instructors.</p>



<h3 class="wp-block-heading">Simulations</h3>



<p>This niche has been paving the way for learning programs for a wide audience, from Pre-K to enterprise employees. <em>Students can solve real-life problems and improve their competencies via fascinating 3D games and simulations</em>. It is very different from the traditional approach, where students are not so much involved in the learning process.</p>



<p>Users can interact with game characters to <em>get valuable information</em> and earn points for the completed tasks. Students can also do them again if they make many mistakes; gamification provides a huge margin for error. </p>



<h3 class="wp-block-heading">Learning Management Systems</h3>



<p><em>LMS gathers instruments that allow you to deliver educational materials and track and report student-related data.</em> Moreover, it ensures quality communication between teachers and students during an e-course.  </p>



<p>Learning management systems provides flexible learning conditions for K-12 and post-secondary students, but there are some unique solutions. <a href="https://rocketech.it/case/babystep" target="_blank" rel="noreferrer noopener">Babystep</a> is an LMS for those who aim to implement the cutting-edge approach to parenting. This platform connects parents with experts to provide informative consultations worldwide. Babystep combines social network features and innovative Edtech websites, making it a great solution for new parents.  </p>



<h2 class="wp-block-heading">What Edtech Will Face in the Future</h2>



<p><a href="https://globaloutlook.holoniq.com/" target="_blank" rel="noreferrer noopener">Holon IQ</a> surveyed educational leaders to hear what they think about the future of learning technologies. They expressed different opinions. About <em>50% of executives are confident</em> in the rapid development of this area or staying the same, while the <em>remaining 50% are not</em>. But, looking at the current situation, some findings are essential for newcomers.</p>



<h3 class="wp-block-heading">High Dependence on Infrastructure</h3>



<p>About 1.3 billion school-age children (according to <a href="https://www.unicef.org/press-releases/two-thirds-worlds-school-age-children-have-no-internet-access-home-new-unicef-itu" target="_blank" rel="noreferrer noopener">UNICEF</a>) have no internet access at home, affecting the quality of online education. This fact raises doubts about the speedy introduction and further use of emerging Edtech instruments in educational institutions around the world. </p>



<p>Therefore, the <em>new technology adoption depends on Edtech startups</em> and requires a comprehensive review of the current system by all stakeholders. </p>



<h3 class="wp-block-heading">Expanding the Market by Increasing Digital Literacy</h3>



<p>As of now, millions of people learned to use video conferencing apps, learning management systems and cloud services when the lockdown occurred. </p>



<p>Hence, a group of potential customers of Edtech products formed, and this factor will increase the market volume in the following years. It will also affect other spheres that require the use of educational technology. </p>



<h3 class="wp-block-heading">Fast Adaptation</h3>



<p>Modern realities prove that success is achieved by those who can adapt to new conditions as fast as possible. And hundreds of enterprises decided to automate their workflow and transform the business logic with the best Edtech solutions. </p>



<p>Sometimes businesses face pressure and budget cuts while trying to adapt to the new reality. But the proper strategy will make them winners over competitors. </p>



<h3 class="wp-block-heading">Irreversibility</h3>



<p>Many students and teachers have already experienced the benefits of top digital products. Therefore, sooner or later, learning will become fully automated. First, we talk about schools and universities that do not have access to advanced educational technologies in many countries. In any case, startups are ready to conquer the education field.</p>



<h2 class="wp-block-heading">Wrap Up</h2>



<p>Edtech in 2022 goes global, so it evolves rapidly and attracts a lot of attention from venture capitalists. Therefore, it is vital to know about the latest trends and new niches to develop a successful and in-demand product. As for now, Pre-K, bootcamps, LMS, and other fields are hugely popular, and more solutions emerge to fulfil customer needs and requirements. </p>



<p>But it is almost impossible to cover the entire market with your modern educational technology. And it is even harder to predict in what direction the Edtech field will develop and what will interest students in the coming years.</p>



<p>​​However, it can be challenging for some enterprises to navigate new conditions, so they need to be fully prepared for the new reality with a ready-made strategy. <em>At Rocketech, we know how to deliver first-class products that can interest the audience. We assign a dedicated team to your project so it will be completely focused on your project. And if you are ready to enter the market with a reliable digital solution, </em><a href="https://rocketech.it/contacts" target="_blank" rel="noreferrer noopener"><em>contact us</em></a><em> now.</em></p>


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