The Development of Commercial Banks under the Internet of Things

What is the Way Forward?

DOI

10.2991/aebmr.k.220502.080How to use a DOI?

Keywords

IoT; commercial banks; inclusive finance; SEMs

Abstract

The Internet of Things (IoT) is a new paradigm that combines aspects and technologies from different approaches to form a system where the real and digital worlds meet and continuously interact in symbiosis. Using IoT in commercial banks can visualize and integrate financial information flow, capital flow, and logistics, effectively solving traditional financial problems and having a significant impact on the development of banks. This article will analyze the following aspects: First, the reconstruction effect of the Internet of Things on the credit and cost of commercial banks. Second, how the use of IoT allows regulators to establish better information sharing with commercial banks. Third, how the Internet of Things overcomes the problem that commercial banks serve the core service objects of small and medium-sized enterprises. Finally, this study also presents the challenges faced by commercial banks using IoT. The results show that IoT could provide robustness and resilience to the credit system, cost structure, and regulation of commercial banks, and create a leap in value for the commercial company while unlocking new demand of small and medium-sized enterprises.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article distributed under the CC BY-NC 4.0 license.

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TY  - CONF
AU  - Yuet Fan Aiden Tsoi
PY  - 2022
DA  - 2022/05/16
TI  - The Development of Commercial Banks under the Internet of Things
BT  - Proceedings of the 2022 International Conference on Urban Planning and Regional Economy（UPRE 2022）
PB  - Atlantis Press
SP  - 453
EP  - 457
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220502.080
DO  - 10.2991/aebmr.k.220502.080
ID  - Tsoi2022
ER  -