The Impact of Digital Transformation

Digital Transformation

Digital transformation is forever changing the business landscape and reorganising business models. The changes reflect the shift in demand towards online commerce. The transformation journey takes businesses to where they need to be to remain competitive and thrive in a highly competitive market. Customers’ needs are paramount for a successful digital transformation. One such noticeable shift is towards mobile apps, creating even more convenience for users. A common thread is a customer-centric approach, whereby businesses interact with their customers, as it happens in Europe right now, especially in Nordic countries like Sweden and Finland.

Digital Transformation in e-Commerce

Although one should never underestimate the adverse effects of Covid, it did create a seismic shift online. That has put pressure on some businesses; however, others have thrived. For example, Amazon and Netflix have both seen double-digit growth figures during the pandemic. In addition, remote work has opened the door to digital transformation, creating opportunities. The unprecedented explosion in demand for streaming services, online commerce, and services has never been higher. As a result, brands increase their online marketing to remain competitive as new entrants penetrate the market. An effective digital transformation strategy helps to mitigate risks, remain resilient, and continue to grow.

Digital Transformation in the Gambling Industry

While land-based casinos were experiencing severe problems during the pandemic, their online counterparts were winning new customers. The European market has experienced the highest increase in gaming for online casinos, mainly due to the popularity of online slot games, which had a huge impact in the Scandinavian market and in Finland in particular. The increased number of Finnish players looking for the best online slots, known as kolikkopelit netissä, is only the tip of the iceberg of this new customer-centric environment. The online gambling industry effectively managed the challenges of a technology ecosystem of increasing complexity at points of sale. Online gamblers expect a decent range of payment and withdrawal options that are frictionless across all devices.

While doubts persisted about the security of online payments, online casinos have led the way with a customer-centric environment. The online gambling industry effectively managed the challenges of a technology ecosystem of increasing complexity at points of sale. Online gamblers expect a decent range of payment and withdrawal options that are frictionless across all devices.

Stakeholders expect no less with processing solutions that reduce costs and optimise interchanging pricing. Data plays an increasingly vital role to ensure the delivery of optimum customer support. Online casinos look to leverage analytics and track customer preference to provide real-time personalised offers relevant to them. Online casinos cater to international clients. Therefore, they invariably offer multiple payment and withdrawal methods.

Having customers pay with their local currency adds convenience, and having a reputable reputation is a must. In addition, customers expect a robust credit card processing system, a high level of online security and fraud prevention measures. As a result, online casinos tend to use state-of-the-art encryption technology, blockchain, and tokenisations to safeguard customers’ sensitive data throughout the entire transaction.

Game-Changing Technology Ahead

New technology promises exciting developments in Artificial Intelligence, Blockchain Technology, Virtual Reality, Mobile Technology, and secure online payments. The gaming experience is evolving into a more realistic and immersive environment. Advanced technology enhances player engagement, bringing a land-based casino experience to life on mobile! Cross-platform games are generating superior engagement levels and more significant winning opportunities. In addition, Blockchain and Cryptocurrencies are becoming regulars at online casinos, promising a bright future for the industry.

Gambling Industry: Limitless Future Innovation

Advanced Augmented Reality technology is poised to enhance the environment for online players with a completely immersive and thrilling casino experience. Players can interact with live dealers in a realistic virtual environment from their homes. Virtual Reality provides an entirely virtual gambling environment with an immense 360-degree casino experience! Artificial Intelligence is already infiltrating the online casino industry. AI and machine learning will leverage big data to create a superior in-game experience, with real-time personalisation for players.

Blockchain, Cryptocurrencies & Mobile

Blockchain and Cryptocurrencies deserve mention, as they are already impacting the online gambling industry with swift, secure online payments and anonymity. Casino operators benefit from secure Bitcoin transactions. Today, mobile devices are ubiquitous, making the medium ideal for online gambling. The convenience of playing via mobile phone anywhere is hard to beat. Such transformative changes promise a bright future for the online gambling industry.

The views expressed in this article are those of the authors and do not necessarily reflect the views or policies of The World Financial Review.