Internet of Things (IOT) Driven Digital Transformation in BFSI Sector

Divyanshu Gupta, Prasanna Kulkarni
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引用次数: 1

Abstract

Internet of Things (IoT) technologies have transformed businesses from physical to data-driven. It is a component of smart infrastructure, and one possible industry that can take advantage of IoT’s enormous potential is banking, financial services, and insurance. In order to make it more efficient, IoT plays a crucial role as the companies collect, share, and analyse data from internet-connected intelligent devices and systems on the cloud to transform business processes. An increase in the use of devices by BFSI customers has led to enormous growth in IoT data usage. This can enable the BFSI sector to anticipate customer needs and strategize opportunities for additional business, leading to enhanced customer loyalty. This digital transformation obtained via IoT devices can improve client interactions and assist in delivering customized services and solutions. The study analyzes the adaptation of IoT technologies for the banking, financial services, and insurance sector, understand the impact as well as benefits of IoT, and its future potential in the BFSI sector. Several use cases in the BFSI sector have been studied with regard to the adoption of IoT technologies, where impact and benefits, as well as digital transformation, are discussed. This study will be helpful to all the industry players and academicians to design and develop various solutions for the betterment of the BFSI sector through the IoT technology that will enhance value for the society at large.
物联网(IOT)驱动的BFSI行业数字化转型
物联网(IoT)技术已经将业务从实体转变为数据驱动。它是智能基础设施的一个组成部分,可以利用物联网巨大潜力的一个可能的行业是银行、金融服务和保险。为了提高效率,物联网发挥着至关重要的作用,因为公司收集,共享和分析来自互联网连接的智能设备和云上系统的数据,以改变业务流程。BFSI客户使用设备的增加导致物联网数据使用量的巨大增长。这可以使BFSI部门预测客户需求并为额外业务制定战略机会,从而提高客户忠诚度。这种通过物联网设备实现的数字化转型可以改善客户互动,并有助于提供定制服务和解决方案。该研究分析了物联网技术在银行、金融服务和保险行业的适应性,了解物联网的影响和好处,以及物联网在BFSI行业的未来潜力。已经研究了BFSI领域中关于采用物联网技术的几个用例,其中讨论了影响和收益以及数字化转型。这项研究将有助于所有行业参与者和学者设计和开发各种解决方案,通过物联网技术改善BFSI行业,从而提高整个社会的价值。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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