Wearables Opportunities for Retail Banking IoT Opportunities

  • 27 June 2015
  • 6.23 MB
  • Version: 8.0
  • Author: Kevin Grant
Wearables Opportunities for Retail Banking IoT Opportunities

Data gleaned from the sensors and systems applied to these objects can then be used to monitor, control or redesign business processes.


Internet of Things (IoT) Canadian and Global Trends

  • $19-trillion (U.S.) global IoT market
  • 50 billion devices connected to the Internet globally by 2020
  • 114 million IoT devices connected in Canada by 2018
    • Excludes consumer wearable like smartwatches
    • Up from 28 million units in 2013
  • $6.5-billion (CDN) IoT project spending in Canada by 2018
    • Up from $2.8-billion in 2013
  • 15 per cent of Canadian executives understand the case for IoT20 per cent of Canadian executives think it has the potential to transform their entire enterprise

  • 42 per cent of Canadian executives remain on the fence
    They have no way to calculate return on investment
    They believe IoT solutions are too new for their industries

Wearable Authentication Options

  • Two factor authentication (smartwatch as dongle)
  • Biometrics as third factor authentication
  • Take photo of smartwatch screen as second factor authentication¬†
  • Biometric Authentication
  • Voice biometrics
  • Motion biometrics
  • Vital signs biometric authentication
  • Multi factor proximity device detection
  • Device profile as authentication (all devices a user surrounds themselves with)
  • Split token data between mobile devices to increase token security