Smart Finance Makes Sense
The world’s finances revolve almost exclusively around data and its safe, accurate and verifiable transmission. Unsurprisingly, this has led to the Internet of Things (IoT) playing a major role in the Financial Services industry.
Complying with the toughest regulatory standards, while protecting customer data, enabling better business models and improving customer experience has landed this sector at the forefront of digital innovation.
Of Financial Services firms are increasing technical R&D investments1
Of IoT sensors deployed by 2020 could be of use to provide data to Financial Services Institutions2
Financial Services is one of the top 10 industries investing in sensors for potential IoT innovation3
IoT Delivers Financial Results
Throughout the financial services industry, IoT enables more efficient, personalized goods and services. Through every touchpoint, be it via ATMs, asset trades or previous purchases, a wider variety of data will help financial services firms identify their clients’ business needs and get insights that help them drive customer engagement.
- Enable automated payments from more connected devices, including wearables and TVs
- Improve client retention with insights from a larger pool of transactional and customer data
- Enhance insurance coverage with more accurate data from sensors in vehicles
- Facilitate screenless banking, the next evolution in mobile banking4
- Advance wealth management with a better understanding of client preferences
Protecting Data and Consumer Privacy
With Financial Services routinely ranking among the most highly targeted industries for cyberattacks5, security must be the first priority.
Beyond the collection of huge amounts of customer data, IoT will change workflows and workplaces too. Financial Services employees want the flexibility to work when and where they want—and from their device of choice. The hyperconnectivity that makes higher levels of productivity possible can also expose companies and customers to increased security issues. Organizations must provide the best possible data management, security and standards to protect customer privacy.
Secure File Sharing Beyond Your Firewall
Content collaboration tools like BlackBerry® Workspaces can be leveraged to manage and guard against cyber threats and protect financial data and client information.
- Track and restrict file access, with audit trails
- Security travels with files, even outside your firewall
BlackBerry Cybersecurity Consulting works to analyze and mitigate increasingly complex cybersecurity risks in individual organizations.
- Identify, respond to and prepare for ongoing cybersecurity threats
- A tailored approach gives clients a detailed understanding of their unique security posture