Object-Oriented Programming

Any real-world object has some properties (which may or may not change over time) and some behavior (which may or may not vary depending upon other conditions). 

e.g., A pencil is a real-world object; which has the following properties:

  • It has some color (e.g., red) (will not change with time)
  • It has some length (e.g., 10 cm) (may change when sharpening)

And it has the following behaviors:

  • It leaves a mark when appropriately used.
  • The mark may vary depending upon the pressure applied. (Depends upon an external factor)
  • Its length gets reduced when sharpened (constant behavior)

Just like this example, the real-world objects have many more features, but in programming, we cater only the required functions.

Object-oriented programming is a programming paradigm where we model real-world objects in program based objects.

Programming in OOPS has its advantages. e.g., It is easier for the programmers to relate an Object to the real world and develop code as per the expectations. Programmed objects are beneficial as and when the application scales up, adding additional features and properties is more natural. It helps in distributing responsibilities within the objective world, enabling focused thinking.

Another important feature associated with OOP (Object Oriented Programming) is the classification of objects. Since the world (real/virtual) is full of objects, it is difficult to manage them as individual objects. We need a way to classify these objects helping us relate different objects and their features. e.g., a black colored pencil. It is all the same as the one used in the previous example but is a separate object. But since they both are pencils, they belong to the same class “Pencil” . Whereas a pen, which is very similar to a pencil, belongs to a different Class. Although both Pen and Pencil are “Writing Instruments”.

This is a series of blogs which will help you understand the basics of Object-Oriented Programming. We are going to use Java as a base, but I will try to explain it in a more generic way so that the same concepts are applied in other languages as well.

Getting closer to the customers – the omnichannel way

The traditional banking system is changing fast in India. Indian banks are not the same anymore as they used to be ten years back. If I think about the banks of the past decade, the picture that comes to my mind is a small room full of people lined up to do tasks like updating passbooks or depositing/withdrawing money.

The same banks today are using the power of technology not only to reach out to the customers but also helping them invest or spend their money intelligently. 

Due to the increasing competition, it is essential for the banks to reach out to the customers, rather than asking them to connect with the bank. Banking is a crucial aspect of everyone’s life, and in today’s world, no one wants to get in the queue to do simple but critical tasks like checking account balance or transferring money. Customers now want to access their account at a place and with the pace of their comfort. It is their hard earned money, after all!

With a wide range of customers that banks have, there is no “one size fits all” solution to the different mediums or channels that banks can focus on to reach customers. Banks today mandatorily need to cater via multiple channels.

Moreover, all those channels should coordinate with each other seamlessly.

Reaching customers via multiple channels

An omnichannel environment allows banks to always stay connected and serve the needs of their customers. 

A customer would want to have complete control over his money, although it is stored safely in a bank account. He would like to access the money any time of the day including holidays or odd night hours. Giving this feeling to a money holder is very important. 

Imagine, you are waiting for the cab to arrive to go to the office and in those few minutes, you need to apply for a loan or to check your eligibility. While you were doing the calculations in your home desktop and had semi-filled the loan application form, the cab arrived, and you had to leave the house. It would have been a delight if you could continue completing the form on your way from your mobile app. It would save so much of time and effort.

The feature, as mentioned earlier, is something which Gmail does very nicely with emails, where a user may resume writing an email from a different channel (mobile/web). However, this facility is not prevalent in the financial sector despite the long forms that spread across multiple pages.

Disconnected channels in banks may cause delays in implementing updates (e.g. a change in government policy or a new exciting offer) as these updates need to be reflected across different disconnected channels individually.

The solution for connecting channels is investing in an omnichannel platform. This platform is a software application, that is deployed on the client-facing end of a bank’s existing software architecture. The omnichannel platform would orchestrate the requests from different channels to a common pathway, which can then be controlled and modified at one place.