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Banking of Things: Monetization & IoT


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A presentation by Ron van Kemenade, CIO ING & Pim Stolk, Tech Lead FINN.

Published in: Economy & Finance
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Banking of Things: Monetization & IoT

  1. 1. Banking of Things: Monetization & IoT IndustrieTOP Zuid-Nederland Ron van Kemenade, CIO ING & Pim Stolk, Tech Lead FINN 22 mei 2019
  2. 2. The number of connected devices which are part of the Internet of Things will grow to 18.5 billion the coming years Internet has always been about connecting people and machines 2
  3. 3. IoT is now past the hype 3 $ 151 B $ 16.7 B IoT start-up funding Q4 2018Global IoT Market 2018 $ 1,576 B Global IoT Market 2025
  4. 4. 4 IoT shows most value for companies by increasing operational efficiency and enhancing new business models Operational efficiency: • Analyse data • Predictive maintenance • Optimize production process New business models: • Complete new services • Pay-per-use
  5. 5. IoT supports business cases based on usage and convenience over ownership 5 Swapfiets: subscription model for bikes Dott: Shared e-scooters BMW: From cars to mobility services Bundles: Offers washing machines as a service
  6. 6. 6 2. Security & Privacy aspects Biggest IoT challenges 4. Monetization3. Lack of (international) regulation 1. Technology implementation immaturity
  7. 7. Monetization of IoT From product sales to service model 7
  8. 8. This is where FINN – Banking of Things comes in • FINN is a start-up initiative of ING • Innovation Bootcamp winner 2017 • Innovation accelerator at ING Labs • The team consists of 10 professionals • FINN 1.0 was launched to Europe in Dec ´18
  9. 9. The value proposition of FINN FINN enables smart devices to make payments on the customer's behalf • FINN enables micro-transactions and pay per use business models • FINN solves the challenges of managing event triggers, connecting to 3rd parties (makers, suppliers, users) • FINN is built with the bank security protocols • FINN facilitates the shift to “Product as a Service”
  10. 10. What does FINN offer? 10 IoT Device SDKs Apps & App SDKs Dashboard portals Cloud
  11. 11. Maker Portal Supplier Portal Docs Website FINN Website Android app iOS app Core Backend FINN Payment processor NodeJS Python C Swift Android ThingsFINN Admin Portal Payvision IoT SDKs Mandate only Mobile Web API Opensource Android SDK iOS SDK SlicePay Accapture API Database How doesFINN work?
  12. 12. Live demo
  13. 13. Thank you!