If credit unions use innovative Internet of Things technology to better understand and serve their accountholders, they must also understand the associated cybersecurity risks and new vulnerabilities – and protect member information.

These devices, linked through an internet scheme of systems, include smartphones, smart speakers, wearables, automobiles, refrigerators, copy machines, energy management services, employee IDs and meeting management tools.

Gartner places the total number of globally-connected instruments at 8.4 billion and anticipates there will be more than 20 billion IoT devices by 2020.

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Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

FinTech