Internet of Things Applications

The Internet of Things may just hold the key to the future of banking, says Jacqueline Guichelaar, head of infrastructure and service delivery for Lloyds Banking Group. With the topic of transformation dominating banking industry conversations amid the race towards a digital future, it’s clear that the Internet of Things is driving that change.



The status quo simply cannot continue and the major new force that is IoT is serving to transform the industry from the inside out, pushed by the twin drivers of heightened customer and regulatory demand.

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The Internet of Things enables a whole new level of personalised banking - indeed, the possibility of branches becoming equipped with sensing technology that can recognise customers as they walk in and respond to their own particular needs suddenly becomes a tantalising reality.

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Hand-in-hand with the likes of the cloud and big data, IoT is set to be implemented on a massive scale, creating major new business opportunities as we continue to embrace a world that’s connected like never before. It could even serve to be the differentiator that separates the winners from the losers in the race for true banking innovation.

Change is now a must - and IoT is set to be the key competitive advantage that helps tomorrow’s market leaders set the pace.

See more at: finextra.com