Let’s Talk Payments is a proud partner of this year’s Money20/20. Combining the best of LTP and Money20/20, we are shining a spotlight on key technologies that are rapidly changing the FinTech ecosystem. This is the second in the series of exclusive infographics derived from MEDICI’s FinTech Foresights.
Internet of Things (IoT)
It may feel like we have a huge backlog of new innovations to implement in financial services considering the amount of technological change and innovation today; however, the Internet of Things (IoT) is about to add exponential complexity and opportunity to FinTech.
By 2020, hundreds of billions of connected devices will be in the world with the market with a CAGR of $25 billion USD. This massive shift will empower new businesses, customer engagements, and products. IoT will force FinTech to rethink:
- Security & compliance
- Customer experience
- Transactions & payments
More information on the potential of IoT across financial services and examples of prominent players in the market can be found in the infographic below.
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