The Value of IoT Gateways
Banks can use Internet of Things technologies and location data to deliver personalized services, determine the optimal number of ATMs to place at specific locations, target relevant mobile experiences and more. But the success of broad IoT use cases may hinge on the use of IoT gateways.
The Internet of Things — whether through physical devices or software programs — compiles data and makes sure that data traffic is transmitted to its intended destination. With an IoT gateway, a physical device or virtual platform connects sensors and IoT devices to the cloud. This gateway allows separate devices to communicate with each other.
However, not all IoT gateways are the same. “Modern IoT gateways often allow bidirectional data flow between the cloud and IoT devices,” according to Check Point. “This allows IoT sensor data to be uploaded for processing and commands to be sent from cloud-based applications to IoT devices.” To ensure success, banks should determine how they want to use IoT devices first, and select an IoT gateway second.
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Get Optimal Connectivity with SD-WAN and 5G Networks
Connectivity within a banking system is critical, which is why software-defined WAN and 5G networks can make or break an IoT initiative. Fast performance and optimal networking are also hallmarks of a modern company.
Between offering easy, reliable network management, improving network performance, strengthening network security and enabling hybrid cloud success, SD-WAN is an essential solution for banks. 5G networks can also help maintain low-latency communications, improve reliability of connections across different work settings and support private networks.