# Mobey Forum Launches Internet of Things Expert Group
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2018-03-29
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Mobey Forum Announces IoT Expert Group to Lead in Future
Meta Description: Discover the latest insights on how IoT is reshaping the future of financial services. Be part of the discussion and stay ahead in the digital era.
URL: https://financedigest.com/mobey-forum-launches-internet-of-things-expert-grouphtml

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[Mobey Forum](https://www.mobeyforum.org/?utm_source=press%20release&utm_medium=IoT%20expert%20group), the global industry association empowering banks and other financial institutions to lead in the future of digital financial services, today announces the formation of its latest [expert group](https://www.mobeyforum.org/expertgroups/?utm_source=press%20release&utm_medium=IoT%20expert%20group), exploring the evolution of the Internet of Things (IoT) and the opportunities it creates to enhance the delivery of financial services.

The IoT Expert Group will help banks and financial institutions prepare for the transformative impact of IoT by defining the ecosystem, examining possible use-cases and exploring potential business models for a variety of stakeholders. It will also analyse how regulation such as PSD2 will impact banks as they look to adapt to the IoT era.

“The opportunities posed by IoT are unprecedented,” comments Elina Mattila, Executive Director at Mobey Forum. “Automated payments and [supply chain](https://www.financedigest.com/eliminating-payment-barriers-the-future-of-supply-chain-payments-is-digitization.html "Eliminating Payment Barriers: The Future of Supply Chain Payments is Digitization") ordering are opening up new transaction flows and enabling invisible payments, with channels such as connected cars, intelligent personal assistants, smart home appliances – even robots –  coming to the fore. In parallel, the astonishing wealth of consumer data [generated and transferred across the IoT ecosystem will provide](https://www.financedigest.com/french-cloud-provider-ovh-lines-up-diesel-generators-to-offset-potential-power-cuts.html "French cloud provider OVH lines up diesel generators to offset potential power cuts") the foundation for the creation of tailored, compelling, and innovative services to drive more meaningful engagement with consumers.”

“IoT is already [transforming business](https://www.financedigest.com/the-modern-cfo-at-the-forefront-of-business-transformation.html "The Modern CFO: At the forefront of business transformation") models across various industries, and banking is no different,” continues SasaSkrgic, Retail Strategy – Cards and Payments at Erste Group and IoT Expert Group Co-Chair. “As the [ecosystem evolves to move payments](https://www.financedigest.com/the-future-of-payments-biometrics-within-the-financial-ecosystem.html "The Future of Payments: Biometrics Within the Financial Ecosystem") into the background, banks are finding new ways to create positive customer experiences.”

Daniel Steingruber, Innovation Manager at Swisscom and IoT Expert Group Co-Chair, adds: “IoT [growth forecasts](https://www.financedigest.com/italy-slashes-2023-growth-forecast-but-sees-public-finances-improving.html "Italy slashes 2023 growth forecast but sees public finances improving"), together with the sheer scale of the potential market, mean that banks must move quickly to understand the sector and the roles they can play to leverage the emerging technologies. The IoT Expert Group will [enable banks](https://www.financedigest.com/enabling-decision-making-success-in-the-banking-industry-3-considerations.html "Enabling decision-making success in the banking industry – 3 considerations") to explore these challenges in an open, commercially-neutral environment.”

“Banks are no strangers to disruption, but IoT promises to [drive change](https://www.financedigest.com/intelligent-investment-in-digital-transformation-driving-change-from-the-grassroots.html "Intelligent investment in digital transformation: Driving change from the grassroots") on a previously unimaginable scale,” concludes Mattila. “It is essential that we provide a platform to allow banks, vendors, financial [institutions and other service](https://www.financedigest.com/visa-launches-crypto-advisory-service-for-financial-institutions-merchants.html "Visa launches crypto advisory service for financial institutions, merchants") providers to collaborate. Indeed, the level of interest we have received from our membership demonstrates the importance and immediacy of this topic. We can’t [wait to see](https://www.financedigest.com/wait-and-see-u-s-companies-curb-investment-as-they-await-fed-moves.html "Wait and see: U.S. companies curb investment as they await Fed moves") where the discussion takes us.”

The IoT Expert Group held its inaugural meeting at Mobey Forum’s first quarterly [member event of 2018](https://www.mobeyforum.org/utrecht-member-event-2018/),  hosted by Diebold Nixdorf in Utrecht, The Netherlands.


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