IoT on Banking Industry

Running head: IOT ON BANKING INDUSTRY
IOT on Banking Industry
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1IOT ON BANKING INDUSTRY
Table of Contents
1. Introduction............................................................................................................................2
2. Brainstorming.........................................................................................................................3
3. Regulation and Ethics............................................................................................................4
4. Disruption...............................................................................................................................5
5. Business Process Model.........................................................................................................6
5.1 The AS-IS Model.............................................................................................................6
5.2 The TO-BE Model...........................................................................................................6
6. Conclusion..............................................................................................................................7
7. References..............................................................................................................................8

2IOT ON BANKING INDUSTRY
1. Introduction
The industry
The banking industry is said to the group of the financial institutions. This accepts deposits of
money that are adhere able to the public as well as creates a credit. The industry provides the
lending activities with the help of capital markets, directly as well as indirectly. The banks
are very necessary for maintaining the financial stability of the country. The industry includes
the financial constraints associated with the businesses organization to conduct the regular
flow of their businesses (Lande, Meshram & Deshmukh, 2018). The different activities
provided by the industries are said to be private banking, customer finance, forex trading,
commodity training and many more. This industry thrives to put an important effort in the
transaction sector of the finance thus involving enhancing the overall transaction
infrastructure. As this industry deals with a high range of financial constraints there are
various risks associated with this industry that can be vulnerable for the customers associated
with this industry.
The technology
The internet of things is said to be a system of interconnected computing devices,
which are provided with unique identifiers as well as the ability for data transfer, as well as
the capability of performing the actions without having the human-to-human or human to
computer interaction. This technology amplifies the user experience regarding the usage of
the internet and the connected devices (Dineshreddy & Gangadharan, 2016). Moreover, this
technology along with enhanced devices are ought to provide better performance as well as
effective services to the users of this technology. The IoT is used to gather information as
well as share that information in a large scale to the users present in the overall infrastructure
of the IoT platform. The technology of IoT is implemented by many industries for the