The financial services sector is slow to accept the Internet of Things. Although it may seem difficult, you will find some retail banks guiding the adoption of the Internet of Things.
Objectively speaking, most banks' IoT business is still not on the right track, while other industries such as retail and manufacturing are leading. Currently, banks are mainly focused on other digital technologies, which may help them resist the so-called "challenge". "The competition between banks and financial technology startups.
For retail banking institutions, faster payment speeds, greater operability (supporting open banking) and more responsive mobile services are the focus of innovation. Although people are interested in technologies such as artificial intelligence (AI) and robotic process automation, and hope to convey the concept of “more personalized, more connotative, and unique banking experience†in the financial services industry, many people are concerned about the Internet of Things. The work is still ignorant.
However, the Internet of Things provides retail banks with the opportunity to gather more customer information, provide a more personalized experience, and increase efficiency. In this article, let's look at some new cases of the Internet of Things in retail banking.
1. Wearable devices and banking services
So far, wearables have become the most profitable IoT product for banking, thanks to the evolution of the device ecosystem and relatively low entry costs. Many banks offer popular wearable device applications such as Apple Watch and FitPay that have partnered with Bank of America. Some banks have even launched their own devices, such as Barclays Bank launched bPay wearable contactless payment solutions, Caixa Bank, Hellenic Bank and Australia WestPac also launched their own wearable products.
2, easy to pay
On the surface, the IoT-driven self-service beer vending machine sounds like a public relations gimmick, but there is still some logic in it. At a trial in a London bar at the end of last year, Barclays' Pay @ Pump self-service beer vending machine allowed users to shop, pay and collect beer in less than 60 seconds, avoiding waiting for the longest time.
3, smart car branch
For automakers, providing access to services within and around the network is not only likely to improve customer relationships, but also to increase revenue. Similarly, smart cars are an opportunity for banks: for example, Idea Bank operates a fleet of cars, each with a safety deposit box and an ATM machine that can be used to provide services to customers at any time, without requiring customers to go to the bank. business. According to the bank data, the average deposit of a mobile automated teller machine is three times higher than that of a branch. At the same time, Canada's Blueshore Credit Union is exploring the possibility of displaying wealth management applications on car windshields so passengers can review their portfolios while driving.
4. Smart contracts based on blockchain
In financial services and other areas, the potential of blockchains to ensure a secure record of certified transactions has been widely discussed. Some banks are already experimenting with the technology: Commonwealth Bank of Australia, Wells Fargo and trading company Brighann Cotton claim to have completed the first global trade deal between the two banks using blockchain, smart contracts and the Internet of Things. Texas shipped a batch of cotton to Qingdao, China.
5, smarter branches
Retail banking branches may be threatened, but there is a perception that smarter branches can provide customers with a better service experience. In a recent experiment, Clydesdale and the Yorkshire Banking Group (CYBG) Customer Innovation Lab opened a test platform in London that tested many smart devices to improve the customer experience. For example, facial recognition technology is used to determine how users interact, while network access is provided through an interactive touch screen.
6, beacons make the service more personalized
Retail banks re-use the Bluetooth indicator to tap the opportunity for fewer branches of the passenger stream. Bank of America, New Zealand WestPac and Citibank are using beacon technology to allow customers to “pre-announce†selected services before approaching bank tellers or ATMs. Barclays Bank uses beacons to help disabled customers navigate the location of branches.
7, family bank
Capital One of the United States now allows customers to pay their bills through Amazon's Alexa (the virtual assistant of Echo Smart Speakers), which is certainly not the only retail banking institution that adopts this approach, nor will it be the last one. Take Starling, the UK's challenger bank, for example, the organization is experimenting with Google Home, integrating its API with smart speakers, allowing users to perform balance inquiry and payment functions via voice commands.
8, chat robots provide a better customer experience
Chatting robots are already in use in retail banking, and it is clear that this is a simple and relatively economical way to query customer service. Some startups have joined the ranks, such as Cleo, who can connect to the bank and use the Facebook chat robot platform. There are other application cases, such as the Royal Bank of Scotland RBS assistant chat bot can answer some common banking problems; DBS DBS uses Kasisto's Kai AI platform to allow customers to transfer and pay bills. In addition, the Swedish bank launched the NINA customer service chat robot developed by Nuance on its website and mobile application to collect relevant information to answer customer's questions more quickly.
Electric Feet Warmers,Electronic Foot Warmers,Electric Feet Warmers Like Shoes,Heating pad for foot pain,Electric Foot warmer for bed
Ningbo Sinco Industrial & Trading Co., Ltd. , https://www.newsinco.com