With old revenue streams under threat, IoT offers new possibilities for banks – Which-50
Banks may be able to leverage IoT to identify new services and revenue streams as traditional business models come under threat.
However, the financial services industry (FSI) hasn’t recognising the significance of IoT, which is reflected in the amount it is investing in the emerging technology, according to Gartner.
Speaking at the Gartner Symposium on the Gold Coast last week, Gartner practice vice president for financial services Pete Redshaw said IoT is “very much underfunded”, arguing banks are yet to recognise how IoT could shape their business.