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The Internet of Things (IoT) is connecting much more than mobile devices and computers. Web-enabled technology is seeping into everyday devices such as dishwashers, refrigerators, parking meters, home utilities, automobiles and many more. In fact, there are more connected devices today than there are people on Earth. By 2020 there will be more than 50 billion connected devices deployed worldwide—about 6.6 devices per person.
The large financial institutions have the scale to test and roll out the latest technologies, such as fingerprint authentication, voice banking and mobile wallets. More so, their customers are likely to adopt and even seek out any new technology that makes life easier. In contrast, credit union members often lag behind, preferring to stay with what they’re comfortable with and connecting one-on-one with their financial institution.
To get an in-depth view of this convenience-driven future of banking and how these trends will create new opportunities, we invite you to download this new white paper, “The Credit Union Guide to Opportunities in IoT, Biometrics and E-commerce,” published in conjunction with PSCU and featuring an analysis on recent findings by Javelin Strategy & Research.
The white paper discusses how connected payments through internet technologies are impacting the financial services industry. It also provides a view to the future of banking and how these trends will create new opportunities and pose potential customer attrition threats to financial institutions by looking at three main areas:
This timely white paper segments the banking industry into four categories based on where consumers have their primary financial relationship: Large bank, regional bank, community bank or credit union.
You’ll come away with a deeper, actionable understanding of what drives consumers to adopt or reject new technologies and how credit unions can take a careful, strategic approach to encouraging acceptance.