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MAG Annual Conference 2019

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Surfing the Perfect Storm

Harness the potential of Artificial Intelligence, Internet of Things and Real Time Payment Systems

September 18th, 5:00pm


C opyright © 2019 Deloitte Development LLC. All rights reserved. 3

Our Backgrounds

Brian Shniderman

• Vice President of Product Innovation at The Clearing House

• Leads Innovation including Real Time Payments at The Clearing House

• Equity Principal at Deloitte Consulting

• Head of Global Cross-Industry Payments Practice

• Leads Deloitte’s Real Time Payments Initiative

Peter Davey

Our Backgrounds Surfing the Perfect Storm

Each technology is real, and separately each is interesting…

Artificial Intelligence Internet of Things

….but not quite reaching their full potential

Real Time Payments Systems

Our Backgrounds

Artificial Intelligence Internet of Things


What happens when these three forces come together?


Our Backgrounds

Artificial Intelligence

Internet of Things


+

+


Smarter, Easier, Faster


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The promise vs the reality of Real Time Payment Systems



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Global Spending - IoT Global Spending - AI

Global Spending - RTP

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To surf the perfect storm, merchants should integrate these three powerful technologies in their overall strategy

Global Technology Spending ($ billions)

The sizable investment in IOT coupled with red hot investments in AI and RTP demonstrate the disruptive forces in payments1,2,3

1. Internet of Things 2. Artificial Intelligence 3. Real Time Payments Systems

https://www2.deloitte.com/insights/us/en/focus/internet-of-things/technical-primer.html

https://www.idc.com/getdoc.jsp?containerId=prUS44911419

https://www.businesswire.com/news/home/20181122005303/en/Global-Real-Time-Payments-Market-2018-2023-Analysis-Forecast

These forces together create the opportunity for new...

Business models

Products

Experiences

Services



App notification leveraging IOT- car is running low on gas

Routes to the nearest pump

Approves the RFP for credit transfer sent

automatically

The fuel grade and limit automatically

activated

Arrives at pre-paid pump and receives offer for discounted snacks while fueling

Receives targeted offers on the pump screen

: Artificial Intelligence

: Internet of Things

: Real-Time Payments



Books a resort stay - receives an IOT

wristband

Sets up wristband with a Mobile App

Purchases generate revenue and additional

data for the resort

Receives smart Micro-Insurance policy based on

Risk profile for ATV’ing

Make real time payments throughout the trip using

NFC wristband



Rents a machine installed with

sensors

Uses Mobile key to unlock machine and start rental

Change in usage alerts Chris of rate change, makes facial recognition payment via 5G

connection in the field

Auto detection in change of depreciation

on the machine

Use Mobile Key to end assignment – pro-rata charges

Charged instantly per scoop to ensure

customer can pay



Drones waiting in loading dock for the arrival of

shipments

Using computer vision the drone counts products at the

loading dock The drone examines the

shipment to assess quality and look for

damaged goods

Undamaged shipments have payments released instantly, and withheld for damaged shipments

Suppliers are given grades depending on the quality of shipments the

warehouse receives

Suppliers with poor grades

are subject to additional scrutiny



Smart Meters/ Digital Officers are installed alongside a busy city street

A delivery person parked illegally on the street, triggering the smart

meter system to investigate

Computer vision reads the license plate and identifies the driver

Customer immediately receives Request For

Payment on their phone while delivering their

package Before the driver gets back to their car, they

pay the violation, knowing that they violated the law

Due to proximity to action, driver

changes behavior, IOT meters confirm this



Linda has a subscription account set

with RTP

Calls out to Smart Speaker to connect

with a doctor

Speaks with an AI Nurse - takes her vitals

via her wearables

Pays $5 co-pay via voice authorization

and NLP Money instantly

transferred to the Provider

Doctor recommends OTC medication based on history

Patient purchases medication and

receives notifications

through delivery



1. Assess how accepting irrevocable and instant payments will impact your organizations risk profile

2. Conduct “automated decision impact assessments” and “data protection impact assessments” for AI systems

3. Set up security measures for additional IOT endpoints and RTP

1. Ensure Data Quality by conducting database wide data cleansing to support AI and IOT networks 2. Perform assessment of Treasury infrastructure to determine future state infrastructure

3. Determine skill level of organization to create and implement AI and IOT solutions

4. Conduct Build or Buy assessments for IOT and AI solutions based on business requirements

1. Identify practical and scalable use cases for RTP 2. Create Business Case for new models products, and services

3. Determine what Real Time Payments Solution works for your use cases

4. Coordinate with your financial institution to support Real Time Payments

5. Sign up for Controlled Pilot to test operational effectiveness

Getting Ready to Surf the Storm

Planning and Operational Readiness

Technological Readiness of your Organization

Risk and Security Controls

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms , and their related entities . DTTL and

each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to c lients. In the United States, Deloitte refers

to one or more of the US member firms of DTTL, their related entities that operate us ing the “Deloitte” name in the United St ates and their respective affiliates. C ertain services may not be

available to attest clients under the rules and regulations of public accounting. P lease see www.deloitte.com/about to learn more about our global network of member firms .

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