The global banking & payments industry experienced a 45% rise in company filings mentions of internet of things in Q1 2023 compared with the previous quarter, with the highest share accounted for by American Express with 40% year-on-year decrease, according to GlobalData’s analysis of over 208 banking & payments company filings. GlobalData’s Internet of Things (IoT) in Banking – Thematic Research market report provides a detailed understanding on how internet of things impacts the value chain in the banking & payments sector, and the leading internet of things adopters and vendors in the market. Buy the report here.
Notably, internet of things was one of the most frequently referenced themes in Q1 2023, ranking highest in terms of mentions, ahead of governance and environment, according to GlobalData.
Of the 50 leading companies in the banking & payments industry, American Express had the greatest increase in references for internet of things in Q1 2023, compared with the previous quarter. GlobalData identified 3 internet of things-related sentences in the company's filings, an increase of 100% in Q1 2023 compared with Q4 2022. Moody's’s mentions of internet of things rose by 100% to 3 and PayPal’s by 200% to 3 and Danske Bank’s by 100% to 2 and Nordea Bank Abp’s by 100% to 2.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for internet of things in Q1 2023 was 102.
To further understand GlobalData's analysis on Internet of Things (IoT) in Banking - Thematic Research, buy the report here.