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IoT Start-up Tracker - Digital Banking and Financial Services Growth Opportunities

  • Report

  • 66 Pages
  • February 2023
  • Region: Global
  • Frost & Sullivan
  • ID: 5748569

Digital Banking to Support the Future Growth Potential of IoT Platforms

The banking and financial services industry is increasingly focused on reducing cost and increasing efficiency and profitability. This Internet of things (IoT) start-up tracker helps participants in the digital banking and financial services ecosystem identify solution providers with offerings that address industry challenges. The start-up tracker provides a rich database of start-up and niche players that can transform processes in digital banking and financial services and add value to the end user. These companies were selected based on the publisher's Best Practices database and global fintech ecosystem mappings and rankings.

Each shortlisted company has been screened, analyzed, and assigned an overall score based on the criteria described in this study. A list of start-ups focused on digital banking and financial services was made by region, and categorized into the following segments: payments, insurance, and banking. The study is the result of detailed primary interviews with digital banking and financial services start-ups that stand out in different regions. It offers a competitive profile and highlights relevant developments, strategies, and value propositions in this space. The study also identifies the growth opportunities emerging from the changes in the digital banking and financial services ecosystem for market players and stakeholders to leverage.

The IoT space is still in flux and has significant overlap with other industries, such as automotive, energy, and transportation. To accurately observe and measure IoT-related economic activity, the publisher uses certain criteria to determine if a product, application, or service is to be considered part of the IoT industry. Specifically, a product, application, or service must be part of a larger solution and feature the following to be considered a component of the IoT:

  • Objects that are virtualized and imbued with data measurement capabilities
  • The ability to grant identities to physical and virtual objects
  • Interconnections between the objects in the solution for monitoring and interaction purposes
  • The ability to generate real-time insights from data and incorporate them into existing business processes



Table of Contents

1 Strategic Imperatives
  • Why is it Increasingly Difficult to Grow?
  • The Strategic Imperative 8™
  • The Impact of the Top 3 Strategic Imperatives on the Digital Banking and Financial Services Industry
  • Growth Opportunities Fuel the Growth Pipeline Engine™
2 Market Definition and Methodology
  • Definition of the Internet of Things (IoT)
  • Scope of the Study
  • Research Process and Methodology
  • IoT in Banking and Financial Services - Key Topics Covered in This Study
3 Growth Environment
  • Publisher Fintech Definition
  • Complexity is the New Reality of Financial Services
  • Evolution of FinTech
  • Banking and Financial Services Industry Snapshot
  • Expected Transformations
  • Timeline of IoT in Financial Services
  • Use of Technologies in the Banking and Financial Services Market
  • Use and Importance of IoT in the Banking and Financial Services Market
  • Main Challenges of the Banking and Financial Services Industry
  • Payments
  • IoT in Virtual Currency
  • Impact of Virtual Currency on the IoT Ecosystem
  • Insurance
  • IoT in Connected Insurance - Wearables
  • IoT in Connected Insurance - Telematics
  • Banking
  • Timeline of Digital Banking
  • Bank of the Future
  • Future Innovation Potentials for Digital Banking
  • IoT in ATMs
  • Impact of ATMs on the IoT Ecosystem
  • IoT in Digital Branch Banking
  • Impact of Digital Branches on the IoT Ecosystem
  • Top 4 Growth Opportunities in Digital Banking and Financial Services Market
  • Critical Success Factors for Growth
4 Key Competitors
  • Key Competitors (Start-ups) in the Digital Banking and Financial Services Market
  • Scoring Methodology for Competitive Profiles
  • Innovation Target for Competitive Profiles
5 Company Profiles
  • Makusafe - Company Profile
  • Makusafe - Analyst Viewpoint
  • Insurance & Mobility Solutions (IMS) - Company Profile
  • IMS - Analyst Viewpoint
  • The Floow - Company Profile
  • The Floow - Analyst Viewpoint
  • Concirrus - Company Profile
  • Concirrus - Analyst Viewpoint
6 Growth Opportunity Universe
  • Growth Opportunity 1 - IoT Platforms for Personalized Financial Services
  • Growth Opportunity 2 - IoT Devices for Augmented Digital Banking Awareness
  • Growth Opportunity 3 - IoT Profissional Services for Improved Financial Outcomes
  • Growth Opportunity 4 - Managed IoT Connectivity Services for Digital Branches Expansion
  • List of Exhibits
  • Legal Disclaimer

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Makusafe
  • Insurance & Mobility Solutions (IMS)
  • The Floow
  • Concirrus