What Are the Risks of the IoT in Financial Services?
Increased reliance on the internet of things (IoT) is one of the biggest trends in enterprise technology, and the financial services industry is a big part of that trend. And due to the nature of financial business, both the promises and the risks of the IoT in financial services are great.
To demystify the IoT a bit, an IoT device is anything with processing power that is not usable as a computing device. That covers point-of-sale (POS) devices, security motion detectors and even internet-connected coffee machines, to name a few. Gartner predicted that the world will see nearly 21 billion IoT devices by next year.