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The Future of Retail Banking

During your morning workout at the gym, a device on your arm measures each step and connects with…your bank. By monitoring your healthy lifestyle, the bank can then arrange a lower rate on your health insurance. Later, when walking toward your office, you notice an apartment for sale in a neighborhood you have been scouting for real estate deals. So you point your smartphone at the building to view an augmented-reality image superimposed on the building. In turn, you see the price, square footage, and a live link to your bank’s virtual mortgage advisor.

These kinds of scenarios could become commonplace, once banks embrace the opportunities of the Internet of Everything (IoE) era. While today’s digital consumers demand experiences that are relevant to their current context, many feel that banks don’t understand their needs. Contextual interactions may be common when buying books or streaming movies, but customers sense a “value gap” with their banks. And many are willing to trust disruptive innovators from outside the traditional realm of financial services to fill this void.

Banks can keep pace with customer demand by adopting IoE-enabled solutions that offer expert advice, value-added services and convenience, whenever and wherever customers need them — and do so securely. Wearables and augmented reality are among the more forward-looking innovations that banks should be exploring today. But there are many other ways for banks to reconnect with customers.

In a recent Cisco survey of banking customers in 12 countries, respondents were extremely receptive to five core IoE-enabled banking solutions centered on advice (virtual financial advice, virtual mortgage advice and automated financial advice) and mobility (branch recognition and mobile payments). Seventy-five percent would move their money to another provider for one or more of the five concepts. In emerging markets, respondents are twice as likely to move their money.

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SUMMARY: As Cisco Intercloud Turns One, Two of its Architects Reflect On How The Strategy Was Born

“One year ago this week, Cisco announced a plan and a billion dollar investment to build the world’s largest Intercloud – a globally connected network of clouds from Cisco and our partners. As we arrive at the one-year anniversary, I took a few minutes to chat with Cisco President Rob Lloyd and Cloud SVP Nick Earle – two of the ‘architects of the Intercloud’ – about how the idea came about, and what they have learned in the year since the vision was unveiled.”

Click here to read the full post by David McCulloch
A Q&A with Cisco President Rob Lloyd and Cloud Senior Vice President Nick Earle

 

Intercloud Birthday

Happy Birthday, Intercloud!

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IOT Dance Party! And the winner of the IOT startup challenge is…

IOT::Empowering the Enterprise turned out to be quite the dance party this year. Or at least the kind of Internet of Things (IOT) party you’d expect when you bring together over 300 IOT thought leaders, including startup founders, venture capitalists and corporate investors, and Fortune 500 executives.

And adding real-time biometric analytics doesn’t hurt either, tracking everything from temperature, movement, sound, and even crowd sentiment and energy levels.

nate d anna blog pic

Source: LightWave

 

With much of the IOT buzz focused on consumer tech, this event was specifically focused on IOT in the enterprise.   It showcased the ecosystem of innovators that are fundamentally changing cities, manufacturing, energy, transportation, retail, and the many other industries embracing the Internet of Everything (IOE). Cisco Investments, co-hosted the event on our campus with other leaders in the space – SAP, Siemens, Sapphire Ventures, and Silicon Valley Bank, all helping to make IOT transformative. Read More »

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Building an IoT Company in Europe

Building an IoT company is a great opportunity to work on things you have never done before.  Here is a list of my conclusions with brief anecdotes about the difficulties of building az IoT company.

Choose the size of your funding need wisely

When we started, our pre-seed angel investor suggested to close an angel round by involving other investors. The more money you attract at the beginning, the longer runway you have to develop the product that you believe in without having to take away your focus from value creation. It turned out without having the credibility of using small investments wisely and build traction with it you won’t be given the opportunity to get funded with hundreds/millions of Dollars. Build up your credibility together with your venture. One step at a time. Read More »

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IoT at Work: Connected Vineyards and More

The convergence of Operational Technology (OT) and Information Technology (IT) is becoming more important now than ever – and that sentiment was heard loud and clear at last week’s complementary Cisco Live Melbourne and Rockwell Automation ConnectED events. Held for the first time under the same roof, the two events provided a unique opportunity for end users to learn how to accelerate industrial business performance in a joint experience.

Attendees to both events alike enjoyed seeing examples of industrial technology in action such as the Connected Vineyard demo, which I had the pleasure of demonstrating to customers in the Cisco Live World of Solutions.

In the demo, we discussed how to add business value on top of sensor information. For example, the images below show sensor information in an easy-to-read dashboard that can help us troubleshoot potential issues before they affect the bottom line.

IoT at Work Image 1

IoT at Work Image 2

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