IoT technology is changing the face of financial services

In today’s dynamic marketplace, financial services organizations face a whole new set of challenges. Regulation, digitalization, the rise of the emerging markets, accelerating urbanization. In response, there's an increased demand for innovative approaches like usage-based insurance or fleet and asset tracking We’re helping our financial sector customers to evolve, delivering tangible value through innovative, IoT based technology solutions that address the challenges faced by the industry.

  • Global Trade Execution & Registration

    Execution management systems (EMSs) are software applications utilized by institutional traders designed to display market data and provide seamless and fast access to trading destinations for the purpose of transacting orders. They contain broker provided and independent algorithms, global market data and technology that is able to help predict certain market conditions. One of the important features of EMSs is that it can manage orders across multiple trading destinations such as stock exchanges, stock brokerage firms, crossing networks and electronic communication networks.

  • Global Credit Rating & Underwriting

    A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government), predicting their ability to pay back the debt, and an implicit forecast of the likelihood of the debtor defaulting. The credit rating represents an evaluation of a credit rating agency of the qualitative and quantitative information for the prospective debtor, including information provided by the prospective debtor and other non-public information obtained by the credit rating agency's analysts.

    A credit reporting (or credit score) – in distinction to a credit rating – is a numeric evaluation of an individual's creditworthiness, which is done by a credit bureau or consumer credit reporting agency.


  • Global Trust Architecture & Global Personal Identification

    The Internet of Things is working its way into numerous vertical industries: Energy companies use sensors to monitor smart electricity grids; retailers use radio frequency identification (RFID) tags to track inventory; manufacturers closely watch connected sensors to predict when equipment will fail; the examples go on.

    What about the financial services industry?

    IoT has been on the mind of the financial services industry for a while now. Banks can use sensors and analytics to gather more information about customers and offer more personalized services. Insurers and commercial banks can also use sensors attached to assets to track shipments.

    There are numerous ways IoT sensors can help banks, which tend to deal with intangible assets, especially in the world of online finance.

    Yet, because most of the assets of modern banking already are digital — customer account information, complex and structured finance models and exposures, and stock and derivative holdings — banks should focus on the so-called Internet of Moving Things.

    Bank branches can be equipped with sensors to detect, via biometrics, when customers are approaching and entering, he says, which could lead to more targeted offers.

    Commercial banks can use real-time biometrics and positional sensors to continually assess the well-being of a farmer’s crops and livestock, track inventory and monitor the location of goods on a container ship that they are financing.

    IoT sensors enable new revenue opportunities for banks by allowing them to create partnerships with other sectors already deeply involved in IoT, according to Kumar.

    Banks are at risk of losing their connection to customers, especially as more consumers adopt smartphones and wearables from tech companies like Apple and Samsung that offer their own payment services.

    To fully take advantage of this data though, banks will need IT that can ingest and analyze unstructured data from a variety of sources, and they’ll need powerful computing technology with machine learning capabilities to detect patterns and trends within that data.

  • Global Finance Architecture

    Global Finance Architecture

    The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment of central banks, multilateral treaties, and intergovernmental organizations aimed at improving the transparency.


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