Banks Lag in Internet Of Things (IoT), And That's Fine

A recent survey by Verizon and SourceMedia, publisher of American Banker found “a mere 13% of banks were implementing an M2M (machine to machine) solution, which means they’re a whole generation behind from certain key sectors like automotive, smart homes, health etc. which have already mainstreamed IoT.”
Global spending on the Internet of Things (IoT) will rise 17 per cent in the next four years, a new prediction by market analyst team IDC says.
That means the spending is expected to hit a mind-bending $1.3 trillion.
“Manufacturing and Transportation are both a good fit for IoT deployments,” said IDC’s IoT Research Fellow Vernon Turner, in a statement. “Both industries have been connecting their supply chains, products, customers, and even workers for some time now, and really embrace the value of business outcomes.”
In the near future we can expect insurance, healthcare and consumer products to have a larger presence, IDC added, but said nothing about banking.