Fintech for Banks and Development Finance Institutions

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INTERNET OF
THINGS
Dr. Mazlan Abbas
Fintech for Banks and Development Finance
Institutions

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Favoriot Offer 3 Core products
Raqib
Favoriot IoT Middleware
for IoT Developers
Favorsense
for Building Better Communities/Cities
Problem: Health and
safety.
Solution: We offer a
simple and effective
solution to monitor the
most important assets of
an individual i.e. health
and safety.
Problem: Difficult to start
learning and building IoT
solutions
Solution: We help IoT
developers rapidly
develop new and
innovative IoT solutions
using our IoT platform.
Problem: Difficult to get
feedback from
customer complaints
Solution: We offer an
effective engagement
crowdsensing platform
for various stakeholders
to build smarter
operations.

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IoT and IR 4.0 Trends in Malaysia

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IoT and IR 4.0 Trends in Turkey

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DEFINE YOUR VERTICAL
GROUP WORK

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Smart
Modules
Smart
Objects
Connectivity Platform
S/W Customization/
System Integrator
Application
s
/Analytics
Resellers
/ Channels
Malaysia IoT Ecosystem As of March 28, 2018 @ 9.00 am
R&D/ Universities
©
IoT
Discussion
Group

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Smart
Modules
Smart
Objects Connectivity Platform
S/W Customization/
System Integrator
Applications
/Analytics
Resellers
/ Channels
Country IoT Ecosystem
R&D/ Universities

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Ripples of Technologies

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BUSINESS SURVIVAL IN
21stCENTURY
• Every 3 to 7 years, organizations need
to reinvent themselves
• According to The Boston Consulting
Group - S&P 500 Companies from 50
years ago –only 19% are still in
existence

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The 3 Tsunamis of Internet
Fixed Internet Mobile Internet Internet of Things (IOT)

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IOT Statistics
[Source: http://www.informationisbeautiful.net/visualizations/the-internet-of-things-a-primer/ ]

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Where Are We In The Industrial Revolution
IR 1.0
(Manual)
IR 2.0
(Electrical)
IR 3.0
(Automation/
Internet)
IR 4.0
(Intelligence)

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The Survival Test
Which Industrial Revolution Are We
in Now?

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WHICH INDUSTRIAL
REVOLUTION IS THIS?

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WHICH INDUSTRIAL
REVOLUTION IS THIS?

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2.7
Where are we now?

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Why the IR4.0
Journey is so
Difficult?

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Comfortable
Need a little Push

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EDUCATION
4.0

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CONFERENCE
4.0

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SHOPPING 4.0

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Will Robots Replace
Our Jobs

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Understanding IOT
What is Exactly Internet of Things?

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[Source: http://postscapes.com/what-exactly-is-the-internet-of-things-infographic ]

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Sensors:
• Camera – “Eyes”
• Audio – “Ears”
• Accelerometer – “Speed”
• GPS – “Location”
• Gyroscope – “Movement”
• Compass – “Direction”
• Proximity – “Closeness”
• Ambient light – “Eyes”
• Others…
Context
1. Spatial – Location / Speed
Orientation
2. Temporal – Time / Duration
3. Environmental –
Temperature / Light /
Noise Level
4. User Characterization –
Activity (Mobility Pattern) /
Social (Friends,
Interactions)
5. Resource Availability –
Storage / Memory /
Computational / Battery
Your Smartphone is an IoT Device

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[Source: http://postscapes.com/what-exactly-is-the-internet-of-things-infographic ]

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[Source: http://postscapes.com/what-exactly-is-the-internet-of-things-infographic ]

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Why IoT Is At An Inflection Point?
Hardware
is cheap
Connectivity
is pervasive
Moore’s Law
continues
Metcalfe’s Law
”Network
Effects”
Development
is easy

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How Do I Start My IoT
Journey?
Supply “Street” vs Demand “Road”

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IOT Maturity
Autonomous
Optimization
Control
Monitoring

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MONITORING
Vehicle Tracking

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CONTROL
Security Lock
Immobilizer

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OPTIMISE
Best Route
Safe Fuel
Optimize Engine

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AUTONOMOUS
Self-Cruising
Safe-Sailing

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UBER is Disruptive

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DRIVERLESSTAXI

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FLYINGTAXI
AAV – Autonomous Aerial Vehicle

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Technology-Based
Product-Based
Service-Based
Outcome-Based
Transformation Journey

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Benefits of IoT
Reduced
Labor
Increased
Productivity
Better and
Faster
Decision
Making
Lower Costs Improved
Quality

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If You Can’t Measure
It, You Can’t Improve
It

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Understand Your Customer’s Business
How the customer uses
your product?
Which features the
customer uses your
product for?
How frequently your
customer used the
product?
Where and for how
long your customer
used your product?
Why your customer
uses your product?

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Product Manager’s Dream
Utility
Models
Usability
Models
Performance
Models
What the product is
being used for and
when?
How the product is
being used?
How efficient the
product is?
Moretimeisspentanalyzingthedatainsteadofgatheringthedata.

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Example - Is It Worth to Track a Person?
USD 20
Per
Month
Payfor
Fun?
PaytoSaveUSD
30permonth
PaytogetnewRevenue
USD25permonth
PayforLoyalty
Program

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CONNECTED
OPERATIONS
Join/link devices, sensors,
meters to network.
R E M O T E
O P E R A T I O N S .
Monitor, control, asset
management.
P R E D I C T I V E
A N A L Y S I S .
Identify, understand, and
immediately take best actions
P R E D I C T I V E
M A I N T E N A N C E .
Increase uptime and
productive hours.

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Market Potential
Examples

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The Various IoT Market Segments
CONSUMER IOT
• Wearables
• Consumer goods
• Smart Homes
COMMERCIAL IOT
• Transportation
• Healthcare
• Smart buildings
• Defense and
government
• Insurance
• Finance
INDUSTRIAL IOT
• Manufacturing
• Mining
• Oil and Gas
• Agriculture
INFRASTRUCTURE IOT
• Smart Grid
• Utilities
• Smart Cities
BUSINESS

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TRANSPORTATION
Connected cars are a top IoT device. We
estimate there will be over 220M connected cars
on the road by 2020.

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INSURANCE
A survey has found that 74% of insurance
executives believe the IoT will disrupt insurance
within the next five years. 74% also plan to invest
in developing and implementing IoT strategies
by 2016, according to an SMA Research survey.

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Are You A Safe Driver?

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IMAGINETHIS…

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CONNECTED HOME
Smart meters are already a reality, and from the
313 million installed in homes worldwide in 2013,
Navigate Research predicts that number to
jump to 1.1 billion by 2022

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AGRICULTURE
We estimate 75M IoT devices will be shipped for
agricultural uses in 2020, at a 20% CAGR. These
devices are primary sensors placed in soil to
track acidity levels, temperature, and variables
that help farmers increase crop yields

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SMART BUILDINGS
43% of building managers in the US believe the
IoT will affect how they run their building within
the next 2 to 3 years, according to a survey
from Daintree Networks.

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IOT IN BANKING AND
FINANCIAL
During the next few years, wearable
technologies in banking and financial services
market are expected to increase three-folds due
to rapid technological advancements in this
field.

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MANUFACTURING
35% of manufacturers already use smart sensors.
10% plan to implement them within a year, and
8% plan to implement them within 3 years,
according to PwC.

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HEALTHCARE
We estimate 646M IoT devices will be used for
healthcare by 2020. Connected healthcare
devices can collect data, automate processes,
and more.

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Complexity of Managing Pilgrims
100 Ambulances
16,280 Officers
45,000 Tents
6,000 Security Cameras
Dozens of Countries

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Raqib
Health
Safety
Peace
of Mind
SERVICE that
monitors the MOST
important ASSETS
of an Individual
The Solution
Hajj/Umrah

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The Solution
Core IoT Middleware/Platform
RAQIB CRM & DASHBOARD
• Customer Relationship Management (CRM) System
• Customer monitoring dashboard
RAQIB MOBILE APP
• iOS and Android Mobile
App for remote Customer
monitoring especially for
Family members
RAQIB WEARABLE
• Monitor customer location,
health and provide constant
communication
SOS/EMERGENCY
RESPONSE SYSTEM
• SOS Alerts
• Trouble Ticketing
• Field Force – Assign
Jobs

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Blood
Pressure
ECG
Cellular
Coverage
Emergency
SOS
Fitness
Raqib

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Raqib Mobile App
Location ECG
Heartrate
Blood
Pressure

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Countries on Trial
Saudi Arabia India Bangladesh
Maldives Egypt Thailand

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RAQIB Market and Its Potential
Hajj/Umrah
Senior
Citizens
Current Targeted Market Potential Market
*The platform is flexible
and open to integrate
with different smart
wearables or IoT
devices using Open
APIs
Employee
Travelers
Patients
Outdoor Sports

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Building IR 4.0 Applications
Leveraging the IOT Ecosystem

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Data Ownerships
Personal/Household
Private
Public
CommercialSensorDataProvider

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One scenario could be as such:
• The city would pay for access to the light
sensors in order to decide when to turn on
and off the street lights
• A university may want access to the
pollution information for research purposes
for a limited period
• The weather department would want the
temperature and pressure data
• The street town council center would want
the temperature and humidity data for
planning during rough weather
Sensors that gather temperature, light, pressure, humidity and pollution.
Commercial IoT Sensors Biz Model

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Benefits of sensing-as-a-service
Harnessing
the Creativity
Rapid Deployment
Sustainable
Business Model
Assisting Scientific
Community

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Wisdom
Knowledge
Information
Data
More
Important
Less
Important
B
e
n
e
f
i
t
t
o
H
u
m
a
n
i
t
y
Evaluated understanding
Appreciation of
Answers to questions.
Symbols
Understanding
Answers to
questions
WHO
WHY
HOW
WHAT
WHERE WHEN
Value is Created by Making Sense of Data

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Categorizing Analytics
Past
• Descriptive
• Diagnostic
Present
• Rules Engine
• RT Analysis
Future
• Predictive
• Prescriptive
• What happened?
• Why did it happen?
• What is happening? • What could happen?
• What should happen?
Time

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Wisdom
Knowledge
Information
Data
More
Important
Less
Important
B
e
n
e
f
i
t
t
o
H
u
m
a
n
i
t
y
Evaluated understanding
Appreciation of
Answers to questions.
Symbols
Understanding
Answers to
questions
WHO
WHY
HOW
WHAT
WHERE WHEN
Value is Created by Making Sense of Data

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Wisdom
Knowledge
Information
Data
More
Important
Less
Important
B
e
n
e
f
i
t
t
o
H
u
m
a
n
i
t
y Understanding
Example: Smart Parking
N/A
Empty (0), Full (1)
Who park at this lot?
What kind of vehicle?
Where is the empty
parking lot?
When is the peak
period?
How to implement a tiered
charging?
How to find “overstayed”
vehicles?
Why my parking utilization is
low?

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Smart Parking
Smart Parking
With Sensors
Location of
Parking
Availability
Parking
Utilization
Tiered Pricing
Parking

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Wisdom
Knowledge
Information
Data
More
Important
Less
Important
B
e
n
e
f
i
t
t
o
H
u
m
a
n
i
t
y Understanding
Example: Smart Waste Management
N/A
Who is collecting the garbage?
What is the status of the garbage bin?
When was the garbage collected?
Where is the location of the full bin?
How to plan the route of the trucks?
How many days till the next
collection?
Why the garbage truck not picking
the garbage?
Why a particular area is full of
garbage?
Empty (0), Full (1)

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Smart Waste Management
TIMELY SCHEDULE
ALERT
“I’M FULL”
UNATTENDED
GARBAGE
RIGHT ROUTES

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DESIGN YOUR VALUE
PYRAMID
GROUP WORK

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Wisdom
Knowledge
Information
Data
More
Important
Less
Important
B
e
n
e
f
i
t
t
o
H
u
m
a
n
i
t
y
Evaluated understanding
Appreciation of
Answers to questions.
Symbols
Understanding
Answers to
questions
WHO
WHY
HOW
WHAT
WHERE WHEN
Design Your Value Pyramid

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Home Health Transport Office
Waste
IOT Platforms - From Vertical To Horizontal
Blending Data - Creating New Compound Applications

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Delivering The Whole IOT Puzzle
Internet
Biometric
Ultrasonic
Temp
Humidity
Pressure
Motion
Position
Light
Image
Motor
Switch
Lighting
Valve
Sensors
Actuators
IOT
Platform
Analytics
Applications
WiFi
2G/3G/4G
An IoT platform is able to connect to devices and sensors in real time,
process data and drive big-data analytics in the cloud.

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IoT
Ecosystems

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The Growing of IoT Ecosystems
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Malaysia
IoT Ecosystem
IoT Middleware
- Platform that
connect devices
IoT Ecosystem
- Platform that
connect businesses

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90. favoriot
favoriot IoT
Middleware
“Creating an IoT Innovation Ecosystem”

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Gateway
3G/Ethernet/Wi-Fi
IOT Devices
IOT Devices
3G/Ethernet/Wi-Fi
HTTPS
Push/Pull Service
Social
Media
Integration
DEVICE CONNECTIVITY (REST, MQTT, CoAP)
APPLICATION
INTEGRATION
DATA
MANAGEMENT
DATA STORE
BUSINESS
LOGIC
NOTIFICATION
ENGINE
REST API
Custom
Reporting
SECURITY
BIG DATA TOOLS
Application
Development
AUTHENTICATIO
N
Data Analytics

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Examples of IoT Solutions

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Diffusion of Innovation

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Building the New
Generation-IoT

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Demand for IoT Talent
[Source:
http://www.financialexpress.com/industry/technology/master-of-
internet-of-things-demand-for-iot-talent-surges-300-in-last-3-
years/729007/ ]
[Source: https://www.indianweb2.com/2017/08/02/salaries-iot-professionals-india-76-higher-
professionals/ ]

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Difficulty in coordinating actions
across different organization
units
Lack of courage to push radical
transformation
Lack of necessary talent
Concern about cybersecurity
when working with third party
providers
Lack of business case that justifies
investment in the underlying IT architecture
Top Barriers
to Industry 4.0

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DIFFUSION OF INNOVATION

98. favoriot

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IoT eBooks
1) IoT Notes – Great to use for your IoT
lectures!
2) Your IoT Journey – Compilation of best
Blog articles on IoT

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www.favoriot.com
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info@favoriot.com favoriot

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http://iotworld.co