What could be a bank’s role in IoT?

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The internet of things is a hot topic but where and how should banks invest? With who?

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Posted by (Questions: 3, Answers: 0)
Asked on June 23, 2016 5:44 pm
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(Sir Manoj Yidi at October 30, 2016 3:24 pm)
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Obvious one here is Insurance. Self-driving cars will reportedly generate as much as 1GB of data per second[1]. That data will surely aid in the rapid assessment of insurance claims providing a stellar customer experience. Rapid developments around beacon technology and BTLE has allowed banks to begin building in-branch engagement solutions[2]. End of the day, IoT will never be central to the way banks do business. But banks should invest in technologies that make it easier for their customers to do business with them. Customer experience will always be key a differentiator in the banking space. [1] http://mashable.com/2013/05/03/google-self-driving-car-sees [2] https://letstalkpayments.com/7-banks-trialing-beacons-for-in-branch-engagement
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Posted by James
Answered on June 29, 2016 9:41 am
Hi Alex, the Beyond the Arc team has been profiling the current use cases for IoT. Our 100 Days of IoT is on Twitter, check out #IoT100. We’ve also created a series of IoT blog posts, including one that focuses on IoT and banking. The blog is at http://beyondthearc.com/blog.
(Anonymous at July 27, 2016 1:01 pm)
Alex, here is a direct link to #iot100 on Twitter: https://twitter.com/search?q=%23iot100&src=typd
(Steven Ramirez, Beyond the Arc at July 27, 2016 1:03 pm)
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Some banks are already investing in building new services based around the concept of Home Hub where a number of different sensors are integrated. Services span from home-family security to Domotic, energy saving and potential centralized management of the new leasing models (VS buy) of home appliances…
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Posted by Barbara
Answered on June 28, 2016 3:15 am
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