Internet of Things in Retail Banking - Thematic Research ,Top key players are Akamai Amazon Apple ARM (Softbank) Atmel (Microchip Technology) Broadcom CalAmp Cisco Ericsson F5 Networks General Electric (GE) Google IBM

Internet of Things in Retail Banking - Thematic Research

The idea of IoT in banking can feel a lot like a vendor construct “pushed” onto the industry. Connecting “things” to the internet makes more sense for industries that have more “things” to connect (e.g., manufacturing, healthcare, and insurance). Retail banks don’t deal in such tangibles. Instead, the opportunity is around the “connected customer” – knowing where they are, and what they’re doing, and offering more personalized products and services based on this information.

The idea of IoT in banking can feel a lot like a vendor construct "pushed" onto the industry. Connecting "things" to the internet makes more sense for industries that have more "things" to connect (e.g., manufacturing, healthcare, and insurance). Retail banks don't deal in such tangibles. Instead, the opportunity is around the "connected customer" – knowing where they are, and what they're doing, and offering more personalized products and services based on this information.

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Some of the leading players in the Internet of Things in Retail Banking market include, Cisco, Ericsson,F5 Networks,General Electric(GE),Google,IBM,Infoblox,Intel,Microchip,Microsoft,NXP/ Freescale,Qualcomm,Samsung,SAP,SoftwareAG,Splunk,AlertMe,Arqiva,Arrayent,August,Ayla Networks,Balyo,Belkin,BigBelly,Canary,DroneShield,Electric Imp,Evrythng

Long-term, entirely new levels of contextual guidance become possible. For example, the second a customer enters a car lot or their favorite retail park, a bank could notify them of how much money they can borrow, and at what rate. Medium-term, as the concept of connected cities comes to fruition; banks could send a warning to avoid certain retailers where they typically over-spend. Banks could even automate day-to-day account management based on declared goals and sensors to optimize financial outcomes for customers, all of which goes toward helping banks establish themselves as the “trusted advisor” in the move to open banking.

Most banks are already well underway with the big, multi-year transformation projects around cloud and big data analytics (BDA) to enable such experiences, but IoT will make the data aspect of that much harder. Data types where source-complexity and formats hinder consumption, for example, require new skill sets and new analytical techniques to discern trends. The volume of data - and the velocity of it - will mean new data warehousing and cloud programs.

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Scope

This report analyses the impact of internet of things on retail banking.
-The report offers a framework in which to look at IoT, summarizes the important trends and identifies the key players.
-It analyses the opportunities around the “connected customer” for retail banks – knowing where they are, and what they’re doing, and offering more personalized products and services based on this information.

These questions are mentioned below:
•What are the main factors likely to encourage the growth of global Internet of Things in Retail Banking market?
•Which factors are expected to limit the development of the global Internet of Things in Retail Banking market?
•Which application and product segments are anticipated to top in the forecast period?
•Which geographical segment is expected to lead and hold main share of the global Internet of Things in Retail Banking market in the next few years?
•What are the projected values and growth rate of the global Internet of Things in Retail Banking market?
•Which are the key players operating in the global Internet of Things in Retail Banking market?

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