Internet of Things in Retail Banking-Thematic Research Market High cost of deployme

Latest Report Available at Analytical Research Cognizance Internet of Things in Retail Banking Market provides pin-point analysis for changing competitive dynamics and a forward looking perspective on different factors driving or restraining industry growth.

Summary
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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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.

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.

Reasons to buy
- The report highlights some of the big players in IoT and where do they sit in the value chain.
- It looks at the technology trends within the IoT value chain as well as trends showing how the IoT is being implemented across the global retail banking sector.
- The report splits the value chain for IoT into four layers - devices, connectivity, data and control.
- It discusses the impact of IoT on retail banks, offering key recommendations for retail banks and IT vendors.
- It provides a technology briefing by analysing the six big IoT market segments and navigating the IoT value chain.

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Companies Mentioned:
Akamai
Amazon
Apple
ARM (Softbank)
Atmel (Microchip Technology)
Broadcom
CalAmp
Cisco
Ericsson
F5 Networks
General Electric (GE)
Google
IBM
Infoblox
Intel
Microchip
Microsoft
NXP/ Freescale
Qualcomm
Samsung
SAP
Software AG
Splunk
AlertMe
Arqiva
Arrayent
August
Ayla Networks
Balyo
Belkin
BigBelly
Canary
DroneShield
Electric Imp
Evrythng
Fitbit
Libelium
Neul
Nordic Semi-conductor
Oort
Tado
Thingsquare
Bank of America
Citibank
US Bank
Intelligent Environments
Monzo
Starling Bank

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Some Points from Toc:

PLAYERS 3

TRENDS 4
Technology trends in IoT 4

IoT trends in retail banking 8
VALUE CHAIN 10
Device layer 11
Connectivity layer 12
Data layer 14
App layer 15

INDUSTRY ANALYSIS 16
The standards battle 16

Market size and growth forecasts 20

The four stages of IoT development 23
Competitive analysis 23
Mergers and acquisitions 24
Timeline 26

IMPACT OF IOT ON RETAIL BANKS 28
Key recommendations for retail banks 28
Key recommendations for IT vendors 29
COMPANIES SECTION 31
Public tech companies 31
Private tech companies 35
Retail banks 37
TECHNOLOGY BRIEFING 38
The six big IoT market segments 38
Navigating the IoT value chain 40
GLOSSARY 41

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