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Maximizing Financial Revenue with Secure IoT Networks

TimPeters

 

In an er1200x627 social.jpga when everything computes—from cars and household appliances to assembly lines and cities—the world is growing more connected than ever. The internet of things (IoT) is expanding at an astonishing rate. With ongoing digital innovation producing countless intelligent devices, the IoT universe is projected to reach 25 billion things by 2020 with a nearly $2 trillion global economic benefit. This rapid influx of data is driving a major paradigm shift across multiple industries.

The financial services sector is experiencing major growing pains as they strive to protect and utilize data in real time. Today’s firms need fast and effective IT solutions to collect, analyze, and implement large datasets. According to IDC Financial Insights, retail banks are funneling over $16 billion into digital information technology initiatives, and many institutions are investing heavily in IoT applications to accelerate the speed of operations, better serve customers, and ensure competitive advantage. Sectors such as banking, capital markets, investment management, insurance, and commercial real estate are deploying more and more IoT sensors, resulting in CAGRs up to 98% by 2020.

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  Source: Deloitte and Gartner, 2015

 Small and midsize businesses (SMBs) and branch offices are finding it especially difficult to leverage rising data volumes while operating on traditional IT systems and limited budgets. SMB firms rely on right-sized IT solutions to satisfy evolving industry requirements and customer demands for anywhere, anytime products and services. These technologies will not only create an infrastructure that is fast, scalable, and secure, but they will help firms execute complex data workloads and speed financial applications, all at an affordable price.

Aruba Instant Access Points are enabling financial institutions to support growing mobile and IoT density demands and boost network efficiency, using network switches to easily access and secure a variety of vulnerable endpoints, from the intelligent edge to the core. These switches are simple to deploy, intuitive to manage, and empower SMBs with superior levels of flexibility and agility. In addition to Instant Access Points, Aruba ClearPass offers an additional layer of security with real-time insights that allow firms to enable and enforce network access policies. And with 89% faster onboarding for connected devices, these solutions support fast, secure, and affordable services.

Hewlett Packard Enterprise (HPE) is leveraging Aruba technologies to help customers enhance the speed and performance of their IT architectures and facilitate business growth. Financial organizations across all sectors who pursue IoT innovation will achieve significant advantages:

  • Banking. Physical, performance, and behavioral data generated from a number of machines—such as computers, cash registers, and personal devices—and remote locations could help bankers predict a customer’s credit worthiness.
  • Insurance. By harnessing IoT data, insurers can gain better insight into potential product defects, allowing them to more accurately price coverage. Analyzing business-critical data in real time is paramount to assess, model, and potentially eliminate certain risks and losses.
  • Investment and wealth management. SMB investment firms rely on data from their clients’ IoT ecosystems to tailor investment decisions and asset allocations based on their customer’s individual behaviors and preferences. Collecting real-time data from personal devices, building monitors, mobile apps, and more allows them to deliver increasingly personalized offerings and gain highly valuable customer loyalty.
  • Risk management. Secure IoT networks help business operate with confidence, drawing sensor-based information on employees’ stress levels, patterns, and other factors that may indicate risks.

IoT solutions from HPE Aruba are equipping financial organizations with a reliable IT infrastructure that is simple, secure and easy to manage. SMBs who invest in these solutions will be able to implement IoT insights to improve the speed of operations, while ensuring the quality and security of financial services.

To learn more about financial IoT solutions that are positioning SMBs for success, I encourage you to follow us on Twitter at @HPE_SMB.

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About the Author

TimPeters

VP/GM for HPE ProLiant Rack and Tower Servers and SMB Solutions. Previously VP/GM for HPE Server Software and Enterprise Solutions. Prior to HPE, Tim founded and partnered in technology management to provide strategic and operational expertise to both established and emerging companies. Seventeen years at Dell with scope of responsibility broad and inclusive for managing the company’s single largest P/L of the core product portfolio. Established successful start-up businesses in new product segments. Worked in Asia to consolidate and scale global development and operations while engaging new business partners to create a forward-thinking organization responsible for the long-term horizon in business investments, technology planning and solution development.