CEO Message

Dear business partners and friends,

RK - small.jpg

CHANGE is in the air.  Pity the ones who fail to recognize it, as they will be left behind! 

I chose to start my message with the above statement as in the last few months I heard and read many distrustful comments about implementing mobile technologies in retail banking environments and the payment industry.   I heard statements ranging from losing the mobile handset to possibility of being hacked over the air to the credibility of NFC, to skimming QRcodes and the stories go on and on. 

That reminded me of the early nineties when many reputable companies rejected the early form of mobile computing which was at the time “the laptop”.  In fact it wasn’t only the laptop that was condemned, but in many ways the entire personal computer industry and Server/Client architecture.  The green screens and minicomputers were the known modus operandi, so let us ignore the unknown trend and fight it, was the flavor of the era.  Those who were resisting lost, not because their statement about minicomputers being safe was wrong, but because they failed to recognize progress and change.  It’s like fighting a Tsunami with sand bags.  Back to the reputable companies choosing to fight progress, or those that were even late to adopt it:  Can you remember WANG, Data General, BULL, Olivetti, DEC and Unisys?  They all had great days; they were at the leading edge of technology, mighty and powerful like the dinosaurs.  Oh yes!  The Dinosaurs couldn’t adapt, but the fishes did.

The trend is clear.  Just look around in shopping malls, on the street, even in classrooms…mobile devices are everywhere.  Our youth struggle to deal with conventional devices like switchboards, fuel pumps, photocopiers, DVD players or any device featuring the clumsy buttons, but they glide through touch enabled devices figuring out in seconds how to use them without the famous RTFM.  This trend is greatly influencing the way services would be delivered not in the mid to long-term but NOW.   Moreover, those who believe that mobility and multi-touch trends are only appealing to youth are misled.  Adoption rates among adults and elderly are increasing by the day as they get to experience the convenience of connecting with their loved ones and accessing services through the touch of a conveniently and intuitively located touch button…a virtual one.

So back to banking services and payments, both are core competencies of our young company Novus Technologies Pte Ltd.  A company that has decided from day one not only to embrace change but also to carve it as a core.  As professionals working in the industry for over twenty years we listened carefully to our customers.  They are struggling to meet the expectation of their savvy end customers and it’s not an easy situation as the game plan is dynamically changing.  The moment they introduce an idea, another request surfaces.  Few years ago the problem was the ability of financial institutions to fully grasp customer needs in addition to navigating through the red tape to reach a decision on introducing new services.  Today the problem is different and perhaps more challenging.  Financial institutions and payment providers know exactly what is expected, but the rate at which new services are introduced is by far slower than the emerging trends and raising customer expectations.  It is a race of time-to-market and willingness to take calculated risks by introducing new ideas and experimenting with new technologies.  The concept of waiting until a certain product is 100% risk-free is a progress killer.  Imagine if space agencies, medical laboratories and telecom operators adopt the same thinking.  Neil Armstrong would be an ordinary person, various life-saving drugs won’t be available and mobile telephony would be featured only in science fiction movies.

Customers are constantly on the move and they want their banks to adapt to the new lifestyle.  However, the branch is still the main channel for banks worldwide so how could a brick-and-mortar branch adapt to the ever-changing mobile lifestyle?  It’s a paradox that Novus technologies has set its mission on through variety of customer-centric products and services empowering the valuable branch channel while respecting mobility as the lifestyle of choice.

Have a look at our newly released website where some of our Customer Expectation Management (CEM) solutions and services are described.  We seek your understanding for not being able to publish all the details as we’re currently in the process of protecting our intellectual property and innovation.  However, we would be happy to organize one-to-one meetings to discuss your business empowerment opportunities.

Sincerely yours,


Ricardos Khoury
President & CEO
Novus Technologies Pte Ltd