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https://www.finextra.com/blogposting/13327/are-you-the-last-mohican

Amazingly low target..

In a modern society everyone must have the right to a bank account. And all salaries, pensions and social benefits should only be paid into accounts. Slim chance to get any grip on the cash-based grey economy without this.

An increasing number of citizens do not carry cash at all. That is one more reason why we need easy mobile and x-banks real time payments - like the Siirto launched today in Finland.

An increasing number of citizens do not carry cash at all. That is why we need easy mobile and x-banks real time payments - like the Siirto launched today in Finland.

Big PSD2 compliant step!

Adequate security is a long march. Have supervisors done their part? Or has the enthusiasm to get new players in gotten the upper hand? More competition is good - but it should be level play field and the good ones should not suffer..

IoT needs e-id and thereto connected authorisation services - and these are already available in banks for e-banking and in authorisation in corporate banking - both for human roles - and she/he will obviously have to empower IoT units. So big case for reusing the trust-role banks have - seriously good-for-society-at-large..

I am sure we will use new technology - but as the things will have to be controlled by legal or natural persons (Mr Same Guy in different roles) the existing strong e-id services forms an excellent starting point when making IoT take off. It will pretty much be a question of authorising things to do things - and there the combination of KYC, strong tools and using for example standardized e-invoice messaging for empowering and national (globally connected) e-adress registers looks like a fast lane.

And many of the things will need strong id-services, real time e-invoicing and real time e-payments - things that progressive banks already have provided for more than 10 years...