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Internet of Things for Fintech


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Internet of Things for Fintech

  1. 1. favoriot INTERNET OF THINGS Dr. Mazlan Abbas Fintech for Banks and Development Finance Institutions
  2. 2. favoriot Favoriot Offer 3 Core products Raqib Favoriot IoT Middleware for IoT Developers Favorsense for Building Better Communities/Cities Problem: Health and safety. Solution: We offer a simple and effective solution to monitor the most important assets of an individual i.e. health and safety. Problem: Difficult to start learning and building IoT solutions Solution: We help IoT developers rapidly develop new and innovative IoT solutions using our IoT platform. Problem: Difficult to get feedback from customer complaints Solution: We offer an effective engagement crowdsensing platform for various stakeholders to build smarter operations.
  3. 3. favoriot IoT and IR 4.0 Trends in Malaysia
  4. 4. favoriot IoT and IR 4.0 Trends in Turkey
  6. 6. favoriot Smart Modules Smart Objects Connectivity Platform S/W Customization/ System Integrator Application s /Analytics Resellers / Channels Malaysia IoT Ecosystem As of March 28, 2018 @ 9.00 am R&D/ Universities © IoT Discussion Group
  7. 7. favoriot Smart Modules Smart Objects Connectivity Platform S/W Customization/ System Integrator Applications /Analytics Resellers / Channels Country IoT Ecosystem R&D/ Universities
  8. 8. favoriot Ripples of Technologies
  9. 9. favoriot BUSINESS SURVIVAL IN 21stCENTURY • Every 3 to 7 years, organizations need to reinvent themselves • According to The Boston Consulting Group - S&P 500 Companies from 50 years ago –only 19% are still in existence
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  11. 11. favoriot The 3 Tsunamis of Internet Fixed Internet Mobile Internet Internet of Things (IOT)
  12. 12. favoriot IOT Statistics [Source: http://www.informationisbeautiful.net/visualizations/the-internet-of-things-a-primer/ ]
  13. 13. favoriot Where Are We In The Industrial Revolution IR 1.0 (Manual) IR 2.0 (Electrical) IR 3.0 (Automation/ Internet) IR 4.0 (Intelligence)
  14. 14. favoriot The Survival Test Which Industrial Revolution Are We in Now?
  17. 17. favoriot 2.7 Where are we now?
  18. 18. favoriot Why the IR4.0 Journey is so Difficult?
  19. 19. favoriot Comfortable Need a little Push
  20. 20. favoriot EDUCATION 4.0
  21. 21. favoriot CONFERENCE 4.0
  22. 22. favoriot SHOPPING 4.0
  23. 23. favoriot Will Robots Replace Our Jobs
  24. 24. favoriot Understanding IOT What is Exactly Internet of Things?
  25. 25. favoriot [Source: http://postscapes.com/what-exactly-is-the-internet-of-things-infographic ]
  26. 26. favoriot Sensors: • Camera – “Eyes” • Audio – “Ears” • Accelerometer – “Speed” • GPS – “Location” • Gyroscope – “Movement” • Compass – “Direction” • Proximity – “Closeness” • Ambient light – “Eyes” • Others… Context 1. Spatial – Location / Speed Orientation 2. Temporal – Time / Duration 3. Environmental – Temperature / Light / Noise Level 4. User Characterization – Activity (Mobility Pattern) / Social (Friends, Interactions) 5. Resource Availability – Storage / Memory / Computational / Battery Your Smartphone is an IoT Device
  27. 27. favoriot [Source: http://postscapes.com/what-exactly-is-the-internet-of-things-infographic ]
  28. 28. favoriot [Source: http://postscapes.com/what-exactly-is-the-internet-of-things-infographic ]
  29. 29. favoriot Why IoT Is At An Inflection Point? Hardware is cheap Connectivity is pervasive Moore’s Law continues Metcalfe’s Law ”Network Effects” Development is easy
  30. 30. favoriot How Do I Start My IoT Journey? Supply “Street” vs Demand “Road”
  31. 31. favoriot IOT Maturity Autonomous Optimization Control Monitoring
  32. 32. favoriot MONITORING Vehicle Tracking
  33. 33. favoriot CONTROL Security Lock Immobilizer
  34. 34. favoriot OPTIMISE Best Route Safe Fuel Optimize Engine
  35. 35. favoriot AUTONOMOUS Self-Cruising Safe-Sailing
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  37. 37. favoriot UBER is Disruptive
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  39. 39. favoriot DRIVERLESSTAXI
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  41. 41. favoriot FLYINGTAXI AAV – Autonomous Aerial Vehicle
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  43. 43. favoriot Technology-Based Product-Based Service-Based Outcome-Based Transformation Journey
  44. 44. favoriot Benefits of IoT Reduced Labor Increased Productivity Better and Faster Decision Making Lower Costs Improved Quality
  45. 45. favoriot If You Can’t Measure It, You Can’t Improve It
  46. 46. favoriot Understand Your Customer’s Business How the customer uses your product? Which features the customer uses your product for? How frequently your customer used the product? Where and for how long your customer used your product? Why your customer uses your product?
  47. 47. favoriot Product Manager’s Dream Utility Models Usability Models Performance Models What the product is being used for and when? How the product is being used? How efficient the product is? Moretimeisspentanalyzingthedatainsteadofgatheringthedata.
  48. 48. favoriot Example - Is It Worth to Track a Person? USD 20 Per Month Payfor Fun? PaytoSaveUSD 30permonth PaytogetnewRevenue USD25permonth PayforLoyalty Program
  49. 49. favoriot CONNECTED OPERATIONS Join/link devices, sensors, meters to network. R E M O T E O P E R A T I O N S . Monitor, control, asset management. P R E D I C T I V E A N A L Y S I S . Identify, understand, and immediately take best actions P R E D I C T I V E M A I N T E N A N C E . Increase uptime and productive hours.
  50. 50. favoriot Market Potential Examples
  51. 51. favoriot The Various IoT Market Segments CONSUMER IOT • Wearables • Consumer goods • Smart Homes COMMERCIAL IOT • Transportation • Healthcare • Smart buildings • Defense and government • Insurance • Finance INDUSTRIAL IOT • Manufacturing • Mining • Oil and Gas • Agriculture INFRASTRUCTURE IOT • Smart Grid • Utilities • Smart Cities BUSINESS
  52. 52. favoriot TRANSPORTATION Connected cars are a top IoT device. We estimate there will be over 220M connected cars on the road by 2020.
  53. 53. favoriot INSURANCE A survey has found that 74% of insurance executives believe the IoT will disrupt insurance within the next five years. 74% also plan to invest in developing and implementing IoT strategies by 2016, according to an SMA Research survey.
  54. 54. favoriot Are You A Safe Driver?
  55. 55. favoriot IMAGINETHIS…
  56. 56. favoriot CONNECTED HOME Smart meters are already a reality, and from the 313 million installed in homes worldwide in 2013, Navigate Research predicts that number to jump to 1.1 billion by 2022
  57. 57. favoriot AGRICULTURE We estimate 75M IoT devices will be shipped for agricultural uses in 2020, at a 20% CAGR. These devices are primary sensors placed in soil to track acidity levels, temperature, and variables that help farmers increase crop yields
  58. 58. favoriot SMART BUILDINGS 43% of building managers in the US believe the IoT will affect how they run their building within the next 2 to 3 years, according to a survey from Daintree Networks.
  59. 59. favoriot IOT IN BANKING AND FINANCIAL During the next few years, wearable technologies in banking and financial services market are expected to increase three-folds due to rapid technological advancements in this field.
  60. 60. favoriot MANUFACTURING 35% of manufacturers already use smart sensors. 10% plan to implement them within a year, and 8% plan to implement them within 3 years, according to PwC.
  61. 61. favoriot HEALTHCARE We estimate 646M IoT devices will be used for healthcare by 2020. Connected healthcare devices can collect data, automate processes, and more.
  62. 62. favoriot Complexity of Managing Pilgrims 100 Ambulances 16,280 Officers 45,000 Tents 6,000 Security Cameras Dozens of Countries
  63. 63. favoriot Raqib Health Safety Peace of Mind SERVICE that monitors the MOST important ASSETS of an Individual The Solution Hajj/Umrah
  64. 64. favoriot The Solution Core IoT Middleware/Platform RAQIB CRM & DASHBOARD • Customer Relationship Management (CRM) System • Customer monitoring dashboard RAQIB MOBILE APP • iOS and Android Mobile App for remote Customer monitoring especially for Family members RAQIB WEARABLE • Monitor customer location, health and provide constant communication SOS/EMERGENCY RESPONSE SYSTEM • SOS Alerts • Trouble Ticketing • Field Force – Assign Jobs
  65. 65. favoriot Blood Pressure ECG Cellular Coverage Emergency SOS Fitness Raqib
  66. 66. favoriot Raqib Mobile App Location ECG Heartrate Blood Pressure
  67. 67. favoriot Countries on Trial Saudi Arabia India Bangladesh Maldives Egypt Thailand
  68. 68. favoriot RAQIB Market and Its Potential Hajj/Umrah Senior Citizens Current Targeted Market Potential Market *The platform is flexible and open to integrate with different smart wearables or IoT devices using Open APIs Employee Travelers Patients Outdoor Sports
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  70. 70. favoriot Building IR 4.0 Applications Leveraging the IOT Ecosystem
  71. 71. favoriot Data Ownerships Personal/Household Private Public CommercialSensorDataProvider
  72. 72. favoriot One scenario could be as such: • The city would pay for access to the light sensors in order to decide when to turn on and off the street lights • A university may want access to the pollution information for research purposes for a limited period • The weather department would want the temperature and pressure data • The street town council center would want the temperature and humidity data for planning during rough weather Sensors that gather temperature, light, pressure, humidity and pollution. Commercial IoT Sensors Biz Model
  73. 73. favoriot Benefits of sensing-as-a-service Harnessing the Creativity Rapid Deployment Sustainable Business Model Assisting Scientific Community
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  76. 76. favoriot Wisdom Knowledge Information Data More Important Less Important B e n e f i t t o H u m a n i t y Evaluated understanding Appreciation of Answers to questions. Symbols Understanding Answers to questions WHO WHY HOW WHAT WHERE WHEN Value is Created by Making Sense of Data
  77. 77. favoriot Categorizing Analytics Past • Descriptive • Diagnostic Present • Rules Engine • RT Analysis Future • Predictive • Prescriptive • What happened? • Why did it happen? • What is happening? • What could happen? • What should happen? Time
  78. 78. favoriot Wisdom Knowledge Information Data More Important Less Important B e n e f i t t o H u m a n i t y Evaluated understanding Appreciation of Answers to questions. Symbols Understanding Answers to questions WHO WHY HOW WHAT WHERE WHEN Value is Created by Making Sense of Data
  79. 79. favoriot Wisdom Knowledge Information Data More Important Less Important B e n e f i t t o H u m a n i t y Understanding Example: Smart Parking N/A Empty (0), Full (1) Who park at this lot? What kind of vehicle? Where is the empty parking lot? When is the peak period? How to implement a tiered charging? How to find “overstayed” vehicles? Why my parking utilization is low?
  80. 80. favoriot Smart Parking Smart Parking With Sensors Location of Parking Availability Parking Utilization Tiered Pricing Parking
  81. 81. favoriot Wisdom Knowledge Information Data More Important Less Important B e n e f i t t o H u m a n i t y Understanding Example: Smart Waste Management N/A Who is collecting the garbage? What is the status of the garbage bin? When was the garbage collected? Where is the location of the full bin? How to plan the route of the trucks? How many days till the next collection? Why the garbage truck not picking the garbage? Why a particular area is full of garbage? Empty (0), Full (1)
  84. 84. favoriot Wisdom Knowledge Information Data More Important Less Important B e n e f i t t o H u m a n i t y Evaluated understanding Appreciation of Answers to questions. Symbols Understanding Answers to questions WHO WHY HOW WHAT WHERE WHEN Design Your Value Pyramid
  85. 85. favoriot Home Health Transport Office Waste IOT Platforms - From Vertical To Horizontal Blending Data - Creating New Compound Applications
  86. 86. favoriot Delivering The Whole IOT Puzzle Internet Biometric Ultrasonic Temp Humidity Pressure Motion Position Light Image Motor Switch Lighting Valve Sensors Actuators IOT Platform Analytics Applications WiFi 2G/3G/4G An IoT platform is able to connect to devices and sensors in real time, process data and drive big-data analytics in the cloud.
  87. 87. favoriot IoT Ecosystems
  88. 88. favoriot The Growing of IoT Ecosystems favoriot favoriot Malaysia IoT Ecosystem IoT Middleware - Platform that connect devices IoT Ecosystem - Platform that connect businesses
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  90. 90. favoriot favoriot IoT Middleware “Creating an IoT Innovation Ecosystem”
  91. 91. favoriot Gateway 3G/Ethernet/Wi-Fi IOT Devices IOT Devices 3G/Ethernet/Wi-Fi HTTPS Push/Pull Service Social Media Integration DEVICE CONNECTIVITY (REST, MQTT, CoAP) APPLICATION INTEGRATION DATA MANAGEMENT DATA STORE BUSINESS LOGIC NOTIFICATION ENGINE REST API Custom Reporting SECURITY BIG DATA TOOLS Application Development AUTHENTICATIO N Data Analytics
  92. 92. favoriot Examples of IoT Solutions
  93. 93. favoriot Diffusion of Innovation
  94. 94. favoriot Building the New Generation-IoT
  95. 95. favoriot Demand for IoT Talent [Source: http://www.financialexpress.com/industry/technology/master-of- internet-of-things-demand-for-iot-talent-surges-300-in-last-3- years/729007/ ] [Source: https://www.indianweb2.com/2017/08/02/salaries-iot-professionals-india-76-higher- professionals/ ]
  96. 96. favoriot Difficulty in coordinating actions across different organization units Lack of courage to push radical transformation Lack of necessary talent Concern about cybersecurity when working with third party providers Lack of business case that justifies investment in the underlying IT architecture Top Barriers to Industry 4.0
  97. 97. favoriot DIFFUSION OF INNOVATION
  98. 98. favoriot
  99. 99. favoriot IoT eBooks 1) IoT Notes – Great to use for your IoT lectures! 2) Your IoT Journey – Compilation of best Blog articles on IoT
  100. 100. favoriot www.favoriot.com favoriot favoriot favoriot favoriot info@favoriot.com favoriot
  101. 101. favoriot http://iotworld.co