There are two sectors that are most progressing in Myanmar; they are telecommunications and financial services. The two combined, creates an exciting venture: mobile financial services.
People still have distrust for the formal financial institutions in Myanmar. Only 4.8 percent of the population has bank accounts. To get people out of poverty, financial inclusion is necessary. However, some do not even meet the minimum deposit amount to open a bank account. In fact, 62 percent of adults do not have savings in Myanmar.
Cash is still king and many prefer to load up on physical assets such as gold and gem stones. This in turn would limit the banks to lend money, fuel investment and provide job opportunities, thereby hampering economic development of the country.
Furthermore, in rural Myanmar, if people need to use the bank, many would have to travel to another town for the nearest available bank, which will cost them a whole working day, plus another to travel back. Thus, coupled with little faith in the financial sector, they are prompted to turn to loan sharks in times of need.
Mobile Money is the Key
Myanmar has the fourth fastest growing mobile market in the world, being responsible for 5% of the world’s 84 million new mobile subscriptions. Banks need to take a short cut and jump on the bandwagon to link the poor to safer and more regulated financial services. Mobile money could be the country’s best bet to reaching the unbanked and achieve financial inclusion.
In 2016, the new regulations have allowed non-bank financial providers to offer mobile money services.
What is the difference between mobile banking and mobile money?
Mobile money is different from mobile banking in that although users can perform the same transactions such as money transfers, salary disbursement, mobile phone top-ups, peer-to-peer transfers and perhaps more in the future, they do not need to have a bank account.
How does mobile money work?
Even though a bank account is not necessary, there is still an agent shop to go through. A user must still visit the nearest company agent to do any money related transactions. Cash will go to the agent and user’s account will be credited with the same amount in digital currency.
What do you need to become a mobile financial service provider in Myanmar?
As required by the Central Bank of Myanmar, the mobile financial service providers must show a minimum capital of at least 3 Billion Kyats (approx. 2.2 million USD to date) if they wish to provide mobile money services. They also need to register for a Mobile Financial Service (MFS) license, and pay an application fee of 3 Million Kyats. Additionally, unlike its customers, MFS providers must open a trust account in commercial banks in Myanmar, approved by the Central bank, and maintain 100% of liquid assets in the account.
Current situation in Myanmar
The most talked about mobile money providers in Myanmar include Wave Money – collaboration between Telenor and Yoma Bank – and True Money – partnership between C.P Group and Asia Green Development Bank. Both are bent on targeting remittances because banks could shift their focus to more profitable activities in the future.
In the end, mobile money service still has a long way to go in the country. Although it bridges the unbanked and underbanked to affordable financial services, there are still impeding factors such as limited mobile access in unbanked areas, literacy and ongoing regulatory landscape.
Hence, if these technology companies succeeded in building trust from the consumers and explaining the value of such financial platforms, people would become used to digital financial services, which in the future, could lead to beyond making simple money transfers or top-ups.
It seems that currently, early movers into Myanmar would have the advantage, as there is a competition for signing banks up for partnerships and establishing an agent network, which will be needed to extend services across the country.
The next trend in Myanmar
In the future, digitalizing financial services through mobile alone would not be enough. It is apparent that the next generation that grew up in this Information Technology age would expect more than mobile technology from financial service institutions. Hence, to get a head start, banks should also start focus on creating a seamless digital channel experience for customers in its branches.
We will be in Yangon, Myanmar this coming November, where there will be a feature of banking panel, discussing about the technology adoption in banking and financial services. Yoma Bank and KBZ Bank will also be sharing their experiences in mobile banking and digital branches, so stay tuned for more updates!
If you have any questions, leave a comment!
These days, we see communication service providers (CSPs) getting increasingly actively involved in the IoT space. Being at the core of IoT value chain, telecommunications and IT service providers can bring together the large ecosystem of partners and speed up the time to market for IoT.
We interviewed some of our partners in Southeast Asia and summed up the main initiatives and efforts of telcos in the IoT sector.
What are the current focuses of CSPs in Southeast Asia?
According to JD Montelibano, the Head of Business Applications from the Globe Telecom IT Enabled Services Group, CSPs are in a good position to provide end-to-end and seamless IoT solutions for the Philippine market.
“We have been driving awareness on benefits of IoT primarily to businesses. Focus today is to drill into deeper and more specific use cases per industry that will solve specific pain points and problems,” said JD.
Meanwhile in Thailand, there are initiatives such as the collaboration between CAT Telecom, NIA, and TESA to promote IoT and smart city development by supporting tech companies and startups that have IoT/smart city innovation.
Yuttasart Nitipaichit, PhD, Assistant Vice President of CAT Telecom Data Center Department pointed out that CAT aims to provide IoT and smart city solutions as one of their main businesses.
“CAT’s main focus is to provide support on Telecom and IT infrastructure that would be the building block for developing smart city applications. We aim to provide support on mobile and Internet connectivity, IT infrastructure including Cloud platform and data center, and IT security solutions,” he added.
With a mobile penetration rate of 120% in Indonesia, Mirela Juravle, the head of M2M Projects in Indosat Ooredoo, believes that CSPs are trusted partners to help IoT adoption. Being in the driver seat, they want to lead the IoT development through an extensive portfolio of solutions and services ranging from connectivity, infrastructure, cloud services, data analytics to end-to-end IoT solutions and services; promoting innovation simple and open environments for local developers to build innovative IoT services; and Big Data.
One of Indosat success stories in 2015 is the launch of vehicle telematics solution which had greatly increased productivity for operational car fleets and logistic companies.
“We have done a lot of market educations in the last 2 years and this year we will continue to accelerate growth in banking, transportation and security, plus develop new markets in eHealth, user based insurance, business applications, industrial IoT, oil gas, Smart Cities,” said Mirela.
On the contrary, Malaysian CSPs have falled behind in taking the leap with IoT. Telcos in Malaysia have been criticized for being too conservative; and they are making big plans to grow their presence in the IoT sector and catalyze Malaysia’s Smart Digital Nation vision.
Digi has identified some key industry players that are at more matured stage such as the public services and logistic area leveraging on IoT adoption to drive customer experience and enhance business growth. Lee Shin Mei, the Head of Enterprise Business in Digi, shared with us that Digi is exploring and always open for IoT as this is one of their main drivers moving forward.
“The current focus is really about creating the customer awareness, looking out for opportunities to collaborate and getting the right partners in place to support the initiative. Once we build the business value and can show to our customers the benefits of IoT, this would eventually build a sensible commercial value for all parties. In terms of segment or industry, there is really no hard rule about this part,” she added.
What are the advice for solution providers targeting Southeast Asia?
What do you have to identify and prepare beforehand? How to access the market and justify the right local contacts?
Southeast Asia countries are generally quite similar in the focus area and highlighted verticals for IoT, but slight different approach or key points have to be taken care of for each country.
Let’s have a look at the views of local CSPs from specific countries in the region.
JD Montelibano, Globe, Philippines:
IoT has huge opportunities and unlimited use case that are relevant to the Philippine market. What solution providers must do is to understand pain points and problems in a local micro level. They also need to have platforms that are inter-operable with other systems to drive seamless integration through readily available APIs.
Yuttasart Nitipaichit, CAT, Thailand:
Solution providers should study and truly understand problems of cities in Thailand in order to provide real solutions that could really solve the problems. In addition, they should consider partnering with infrastructure providers and end user device manufacturers as well to provide complete solutions. They should make sure that the value of their proposed solutions is higher and worth the proposed cost of investment.
Mirela Juravle, Indosat Ooredoo, Indonesia:
Indonesia market offers huge opportunities, and this is the top 3 advice I can give for solutions providers to be successful:
Know the market, know the regulations
Partner with a local company or establish local office
Lee Shin Mei, Digi, Malaysia
Have creative ideas or products but also remember to be practical so as the end goal is to simplify and enhance customer experiences. Solution providers can also leverage on partnerships with telcos to create a more viable solution that offers end-to-end approach.
Receiving international IoT stakeholders with open arms
Over the comments and feedback I have received for my previous posts, there is one question that popped up frequently: Is partnership essential?
Southeast Asia is a dynamic market, with vibrant culture and varying work approach. Much work has to be done to be familiar with the ways businesses work in each country.
While telecommunication operators and governments are positively encouraging IoT solution providers from both local and abroad to help tackle local problems via technology, I believe having a contact point who has been around and understands the local market would be the most direct, fastest and safest way to access the pool of demand.
What do you think?
Asia IoT Business Platform partners with major telcos in Philippines, Thailand, Indonesia and Malaysia to educate enterprise on IoT adoption and raise awareness of the key business model transformation opportunities that can be tapped on.
Through conversations with IT executives from enterprises in the region since 2014, we saw great interest in cloud, data and the corresponding data analytics that can unlock most potential in businesses.
There have been huge advances in the amount of data we routinely generate and collect in pretty much everything we do, as well as our ability to use technology to analyze and understand it. The intersection of these trends, namely Big Data, is helping businesses in every industry to become more efficient and productive.
According to our interview with Dato Ng Wan Peng, COO of MDeC, Malaysia has rolled out the country’s Big Data framework. “We foresee a bright future ahead in this area. Among benefits we intend to realise for the country include talent development using public open data to produce useful applications, technology development; and creating awareness within the private and private sectors.”
Businesses that have benefited hugely from Cloud and Data include banking, insurance, smart cities, transportation and manufacturing sectors.
We are still seeing a growing number of dedicated teams led by senior management in exploring IoT and data services for their businesses.
Some examples include:
Proton, Engineering Solution & IoT
Petronas, Digital Innovation, Strategy & Architecture
CEVA Logistics, GM Operations
Provinsi DKI Jakarta, Head of Jakarta Smart City
Bank Simpanan Nasional, Transformation Management Department
Healthcare is an increaseingly interesting sector that we foresee to benefit largely from cloud and data.
This could be seen through the heated discussions in the 6th Asia IoT Business Platform in KL. Dr. Dhesi, founder of AIME said, “There’re so many patients that it’s impossible to diagnose and analyse without data and IoT. By 2030, we’ll be using cloud brains to communicate, store and think – like an external hard disk. Smart and sustainable healthcare needs to be driven by new and disruptive IoT business models.”
As the momentum of IoT moves forward, data will be a key enabler of digital business transformation, driving tremendous value. IoT will mature from being a platform that improves enterprise efficiency and revenue streams into an entire ecosystem that changes the business model to be more digital and service centric through data analytics and algorithms.
However, security remains a challenge in business transformation.
Despite the apparent importance of IoT, widespread adoption of the technology is still slow. Our discussions with industry leaders and enterprises led us to attribute this phenomenon to security concerns: more or less everyone agrees that if data is not handled properly, the consequences could be devastating.
Connected devices are highly susceptible to penetration and infiltration by hackers. Its connected nature severely amplifies any malicious attacks on devices, and data associated with IoT devices can easily be stolen. As a result, businesses, government bodies, and consumers are wary of installing IoT devices in their cities and businesses.
According to BI Intelligence report, top security flaws of IoT devices include insecure software/firmware, insufficient authentication, lack of transport authentication, user identity, and un-encrypted network services.
Taking a leap of faith – there’s still a bright side to data and security.
While the IoT is taking flight in the Southeast Asian region, security problems should not be taken lightly, but have to be addressed and faced head-on.
Security needs to be built in as the foundation of IoT systems, with rigorous validity checks, authentication, data verification, and all the data needs to be encrypted. At the application level, software development organizations need to be better at writing code that is stable, resilient and trustworthy, with better code development standards, training, threat analysis and testing.
While local governments are starting to establish security developments e.g Indonesia’s National Cyber Agency (NCA) and Indonesia Security Incident Response Team on Internet Infrastructure (ID-RTII), the notion of addressing security vulnerabilities of the IoT creates opportunity for security solutions to be implemented.
We came across many corporations and enterprises offering security solutions that undoubtedly boost the confidence of enterprises taking a step in IoT adoption. As the educational platform for government and businesses in the region, we are exploring for more and better solutions with case studies that will benefit our end users.
Drop us a message if you have relevant projects and solutions regarding cloud, data and security to share.
Lets face it, when thinking of IoT markets that are of interest, most companies go for the automatisms of naming the USA, Europe and maybe China. There are very few of who would mention the Philippines. But could those view be right? When looking at the percentage of spending by country in the ASEAN IoT market in 2014, Singapore was the undisputed leader, with 44.25% of the total spending, whereas the Philippines only totaled 12.65%, according to the 2015 Frost & Sullivan report.
This is no surprise. Singapore offers modern infrastructure, is internationally connected and one of the main logistical hot spots in the world. It therefore constitutes a market ready for IoT implementation. The Philippines on the other hand have in numerous parts insufficient infrastructure, problems with connectivity and insufficient educational facilities. So why should companies focus on this market? Two words “uncontested potential”.
According to the same report there is going to be a shift in total spending in the ASEAN IoT market, while Singapore’s share will drop by close to 50% the Philippines share will increase by 12%. This means that Philippine spending in IoT is forecasted to grow from US$ 55.1M in 2014 to US$ 766.8M in 2020. Potential alone though does not always justify investments into a certain market. It is also a question of how heavily this market is contested over by competitors. Will you have to outperform the competition in existing market or do you rather follow a Blue ocean strategy, entering a new market thereby making the competition irrelevant.
If we take Singapore as an example it is obvious that it has an particularly competitive environment, the same is the case for the US and European market, which makes market entry as well as earning profits much harder. The Philippines on the other hand are a country with a young population that is in the process of building its ICT/IoT market, which creates a government and companies that are actively looking for partners in the IoT/ICT space.
In 2014 manufacturing and logistics accounted for the lion’s share of the spending in IoT. But the sectors of banking, healthcare and smart city hold a lot of promise for future investments of IoT solution provider.
According to a study of the World Bank, 69% of Filipinos did not have bank accounts of their own or maintained one with someone else in 2014. Because of this void 10% of adults seek loans from private informal lenders, the world average stands at only 5%.
This presents an enormous opportunity for money-transfer operators in the IoT space, as they could claim roughly two thirds of the Philippines population of 98 million as their potential customers. At our Philippine event las year we had the mobile phone-based money transfer company ItsLikeCash participate and this year M-Pesa is on of our speakers. It is not only the business opportunity that promises value, but also its impact. The World Bank report further states, that “Studies show that when people participate in the financial system, they are better able to start and expand businesses, invest in education, manage risk, and absorb financial shocks”
Another industry that contains a lot of promise for the Philippines is healthcare. With a population close to 100 million inhabitants, rural areas with inadequate healthcare structures and spread-out island communities, it is difficult to provide a sufficient level of healthcare to all citizens.
Both the Chairman of Southeast Asia Continua Health Alliance as well as Product Manager at SMART Enterprise expressed their confidence at our last event, that IoT services could be the solution to these Problems. The Philippine government in an effort to support this channeled large funds to the healthcare sector, nearly doubling its budget within the last 2 years. It has been also actively looking for healthcare solution providers at our events.
Smart City and Infrastructure
Furthermore the Government has been pushing smart city programs in both Manila and Davao. In Manila a smart city venture is planed with Centios, a joint venture of Korea Telecom and Cisco. Hung Song, CEO and president of Centios, said the smart city involves the integrated operation and management of safety and security; energy, transport, education, health, environment, administration and energy management.
Another Interesting development in the Philippines that could be beneficial in regards to connectivity is TV White Space (TVWS) technologies. This low power technology is a new wireless data communications standard and is supported by the Information and Communications Technology Association which partners with our event. Executive Director Louis Casambre said “TVWS is an ideal wireless data delivery medium for the Philippines, with its long distance propagation characteristics and the ability of its signals to travel over water and through thick foliage, we are hopeful that this will be the technology to bring connectivity to rural areas and bridge the digital divide” though he admits that, “Right now TVWS is still very much in the experimental phase both in terms of technology as well as the policy regime, but we are confident that we can make this happen and are excited about what TV White Spaces can do for the Philippines.”
The Philippines thus represent a growing and less contested market with great opportunities in the IoT sector. It recently posted a GDP growth of 6.3% as well as a sustained IT spending growth of 10.1%. According to IDC the telecom services market will also show a positive performance in 2015, growing by 4.7% and an increase in IoT spending by Philippine companies is forecasted by an IDC survey.
If you like to participate in the Philippines ICT and IoT development or want to meet key stakeholders and learn from relevant case studies at the 7th edition of Asia IoT Business Platform in Manila, please feel free to contact us under Jazon@industry-Platfom.com or under +65 6733 1107
Fintech is all the rage now, major technology companies from the west (Google, Apple and Facebook) and the east (Line and QQ) are rolling out new services to transform our smart phones into a digital wallet.
Before all the tech companies got into the action, Kenyans have been using millions in mobile money for daily transactions. Majority in this African nation do not have a bank account, but 8 in 10 people have access to mobile phones. To solve this problem, M-Pesa was born, providing financial inclusion to the unbanked.
M-Pesa is a mobile phone-based money transfer, financing and microfinancing service launched in 2007 by Kenyan mobile operator, Safaricom. Users are able to deposit money into an account stored on their cell phones and send balances using SMS text messages (pin-secured) to purchase goods and services. The mobile money can also be used to redeem deposits for regular money and be transferred to other users. A small fee is charged for users to send and withdraw money. M-Pesa is a branchless banking service where customers can deposit and withdraw money from a network of agents that includes airtime resellers and retail outlets acting as agents.
Since its initial launch in Kenya, M-Pesa has seen expansion to countries such as Tanzania, Afghanistan, South Africa and India. In December 2015, BBC ran a story on 60 minutes featuring the M-Pesa story, introducing M-Pesa to the world.
Located in the Western Pacific Ocean, Philippines is a country with more than 7,000 islands. According to 2014 World Bank Statistics, only 30% of its 98.4 Million population has a bank account. This is a country where mobile money could potentially be able to help facilitate financial inclusion.
Join Lesley-Ann Vaughan , Project Manager at M-Pesa as she shares the M-Pesa story and her experience on building a reliable mobile banking platform for developing markets during the 7th edition of the Asia IoT Business Platform which will take place this 23-24 May in Manila.
Turkey is blessed with favorable geographical conditions, with 27% of arable land, the 3rd largest in Europe, and high volumes of fresh water resources. This has enabled Turkey to be one of the few countries in the world that is self sufficient in food production. In 2009, agriculture accounted for 29.5% of employment in the country and Turkey is considered to be one of the leading countries in the world in the field of food and agriculture, being the world leader in the production of dried figs, hazelnuts, sultanas/raisins and dried apricots.
Farmers in Turkey rely on transformers to generate electricity on farms and to power irrigation systems that provide water to their crops. In recent times, farmers were experiencing a widespread problem of transfomer theft. The thieves steal parts of the transformer or in some instances, the entire transformer, strip it down and sell it for cash. To replace a transformer, a farmer might take a financial loss of up to 10,000 Euros. However, in most instances, the loss is much greater. In the town of Kahramanmaras Elbistan, 2 transformers used to irrigate the land were stolen. The incident left thousands of acres of land dehydrated , affecting the crops growing in the area. Replacement of the transformers would take days and the dying crops would affect the livelihood of the villagers.
Turkcell, Turkey’s leading telecommunication company embarked on a journey to utilize M2M/IoT technology to solve the problem of transformer theft for Turkish farmers.
Join Metin Nuroglu, Mobile Device Expert at Turkcell as he shares the casestudy of utilising M2M/IoT technology for theft prevention of transformers for Turkish farmers during the 8th edition of the Asia IoT Business Platform which will take place this 26-27 May in Bangkok.
Happy New Year!
We’re excited: with Internet of Things (IoT) advancements and education being one of the most heavily invested and focused areas in most Southeast Asian countries, we foresee more developments and adoptions of IoT taking off in 2016.
We are working with key advisors from governments and public sectors, local telcos, industry associations to formulate the most relevant topics for 2016. At the initial stage of discussions, we have identified the sectors that will benefit most from IoT and incorporated it in Asia IoT 2016 series which will take place in Philippines, Thailand, Indonesia and Malaysia.
It is no longer news that governments in Southeast Asia are upping their push to Smart Nation status, going all out to integrate smart technology into everyday devices for both the benefit of society and the economy.
At the coming Asia IoT Business Platform in Bangkok, introduction to Thailand’s first smart grid electricity project to improve the country’s energy management and performance in areas of 0900 power generation, transmission and distribution by Pongsakorn Yuthagovit, Deputy Director System Planning of Provincial Electricity Authority will be an interesting presentation for companies looking to tap into the Thai market.
We are also bringing in Turkcell’s case study on theft prevention of transformers using GPRS based security system for reference.
As IoT growth takes place, there will be a need for infrastructure and applications that can leverage cloud architectures and service delivery models. Increased demand for IoT applications will boost demand for cloud computing in Asia, as the use of on-premise systems will be unlikely to provide the same efficiencies that the cloud offers.
IoT healthcare was the buzzword in 2015 with increasing attention for data protection and treatment efficiency.
Due to overwhelming response at the 6th edition of Asia IoT Business Platform: IoT Malaysia last November, Dr. Dhesi Baha Raja, Exponential Medicine Physician from Singularity University NASA Ames Research Center, GSP15, Phua Kok Soon, Senior Research Engineer, Agency for Science, Technology and Research (A*STAR) and Yau Teng Yan, Chief Medical Officer of Holmusk will be back to speak on artificial intelligence in medicine, importance of tele-health and big data to fight chronic diseases.
Mobile payments and e-commerce are huge opportunities for Asean countries. Based on our conversations with various IoT statekholders at our 2015 events, mobile payments are expected to offer major opportunities for traditional point of sale players to move into upcoming mobile payment platforms in APAC.
Speakers confirmed for 2016 include Kerem Abuc, Mobile Financial Services Supervisor from Garanti Bank and Lesley-Ann Vaughan, Project Manager of M-PESA. They will be bringing in discussions on “Driving through mobility: Employing more IT and gadgets to attract and retain customers” and “African case study: Creating a reliable mobile banking platform for developing markets”
Asia IoT Business Platform strives to be the leading educational platform to raise IoT adoption in the region.
With the potential and ability to streamline and provide larger time and cost savings to a broad spectrum of enterprise tasks, opportunities for IoT adoption in Southeast Asia are proliferating. It is encouraging to see governments, telcos, industry-leading manufacturers, service providers, software and systems developers getting actively involved in making the Asia IoT investments pay off.
What’s your take and predictions for 2016? Any suggestions on where we could potentially focus on?
Feel free to get in touch should you have any comment or feedback on Asia IoT Business Platform 2016 series in Philippines (23-24 May), Thailand (26-27 May), Indonesia (15-16 Aug) and Malaysia (18-19 Aug).
After a promising conference in KL last year, Asia IoT Business Platform made its return to Kuala Lumpur for the 6th edition after having explored the markets in Philippines, Thailand , and Jakarta)in 2015.
The 6th edition Asia IoT Business Platform was held in Pullman KLCC, Malaysia on 3-4 November 2015, with the support of MIMOS (Malaysia’s national R&D centre in ICT). The two-day event saw264 industry stakeholders and 76 companies from government, telcos, multinational solution providers to end users gathering to exchange knowledge, share and learn from a comprehensive conference, with sessions covering market trends, smart city, healthcare, banking and finance, transport and logistics.
The distinguished speaker faculty consisted of 20 local, regional, and international experts in the IoT and M2M industry; with discussions primarily dedicated to plans of government, telecommunication companies and other IoT stakeholders. Case studies were brought up as IT divisions from end users were invited to share their experience in implementing IoT strategies.
Our favourite quotes from the conference sessions:
Keynote and IoT leaders panel:
“In the world of ICT, collaboration is the key. With an estimate market worth of $2.4bil by 2020, IoT in Malaysia has an encouraging prospect. SMEs are urged to take up the challenge and exploit the opportunities.” – Toh Swee Hoe, Advisor, MCMC Academy
“It’s not only about addressing the supply of IoT, we also want to raise the current awareness among end users and create demand to drive digital adoption and economy growth. We aim to turn Malaysia into a matured digital economy by 2020 – to connect and empower government, business, people.” – Dato Ng Wan Peng, COO, MDeC
“The mission of the recently released national IoT agenda is to create a national ecosystem to enable use ofIoT as a new source of economic growth. Supporting industry ecosystem must be established for Malaysia to be global class player in IoT.”
– Helmi Halim, Senior Director (Corporate Strategy), MIMOS
“Telcos in Malaysia generally still seem to be holding back; they must grow their presence in the IoT sector to catalyze Malaysia’s vision of being a Smart Digital Nation.” – Anuj Pandey, DGM-Business Development (Strategic Deals Group), Bharti Airtel
Market Trends & Outlook:
“There is big potential in healthcare, automotive and retail; sinking costs is a driver of IoTin future; in order to have enough trained workforce we need new curriculums at training institutions.” – Prof. Dr. Shahrin, Vice-Chancellor, Universiti Teknikal Malaysia
“What we can achieve in telehealth: remote monitoring, remote diagnosis, healthcare provider support. Global telehealth is expected to grow at compound annual rate of 18.5% through to 2018. To begin your venture, my advice is to work with a partner and go through a trial.” – Phua Kok Soon, Senior Research Engineer, A*STAR
“There’re so many patients that it’s impossible to diagnose and analyse without data andIoT. By 2030, we’ll be using cloud brains to communicate, store and think – like an external hard disk. Smart and sustainable healthcare needs to be driven by new and disruptive IoT business models.” – Dr. Dhesi, Epidemiologist & Exponential Medicine Physician, Singularity University, NASA Ames & Ministry of Health, Malaysia
Banking & Finance:
“Banks need to take further advantage of IoT to prevent shortening of business models, which can be lost to operators. The reality is that IoT will not change the way you do things, you will have to change it yourself.” Mikael Lindholm, VP M2M Growth, Telenor
“Success for banking in the IoT field comes not from technology or security, but user experience that makes lives easier.” – Kerem Abuc, Mobile Financial Services Supervisor, Garanti Bank
Transport & Logistics:
“Key factors for Indosat’s success include: (1) good business opportunities, (2) right product, (3) right go-to-market.” – Mirela Juravle, Head of M2M Project,Indosat
Exhibition area and technology showcase during breaks saw conversations carried on from the conference that aroused much interest within key IT executives who are exploring effective IoT implementation strategies with the solution providers present. Diversity of participants in terms of verticals, complimented by the relevance of invited delegates provided a remarkable networking opportunities to all decision makers in the IoT sector seeking for partnership and new insight.
IoT Malaysia: A Summary of Asia IoT Business Platform 6th edition
We would like to thank all sponsors, advisors, partners, speakers, and delegates for making the 6th edition of the Asia IoT Business Platform a resounding success. It would not have been possible without the support we received.
We look forward to welcoming you again for the Asia IoT Business Platform 2016 series, which will be held in Manila (23-24 May), Bangkok (26-27 May), Jakarta (15-16 May) and Kuala Lumpur (18-19 Aug).[:]