— Vassilis Seferidis , CEO and Co-Founder , Zeetta Networks

is not only your car but also your wallet ,” Warmerdam explained in a recent interview with Mobile World Magazine . “ The issue with that is , of course , security . A connected car can be hacked .” As 5G enables IoT technology to further permeate our lives , and AI allows for increasingly complex functions to be performed across edge networks , the ongoing issue of security is undoubtedly the biggest obstacle to intelligent connectivity delivering genuine change . In particular , Warmerdam notes , IoT security is an enterprise issue . “ Consumers want their devices to be able to pay for everything and don ’ t care so much about the security side ,” she said . In response , FINN is working on a convergence of the kind of IoT saturation that intelligent connectivity can deliver and the levels of security at which the banking industry operates .

“ We came up with the idea of Banking of Things . It ’ s a software solution where we enable cars to make payments , but combine it with the level of security found in traditional banking ,” Warmerdam explained to us .

“ Once your car is safe , then it can truly become a digital wallet . The biggest problem with IoT technology is safety . Devices get hacked , data gets compromised , it ’ s a big problem . A traditional bank has security , fraud prevention , identity theft protection and other regulatory standards that it needs to comply with , and that needs to be made the standard with IoT .”

IoT networks have proven time and again over the past few years to be one of the biggest security risks to both the modern consumer and the enterprise . If intelligent connectivity is going to realise its potential , then the IoT needs to be made as secure as a traditional bank .

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