How is the Internet of Things Transforming Banking

1. DIGITAL TRANSFORMATION AND INTERNET OFTHINGS How is the Internet of Things (IoT) transformingbanking 4 1 IDEATION COLLABORATION SOLUTION INNOVATION • In coming days wearables devices will play a primary payment option in banking Industry. IoT devices expands to include accessories like rings and clothing, financial institutions will continue to makeit even easier for people to makepayments. • Now financial institution moving faster to smart banks to provide more comprehensive and convenient services to customers. If a customer walks into a branch location, their fintech device could immediately deliver their account information for faster, more personalized service. • Smart Banking Wearables 2 5 • Banking sector working hard to explore to make easier payment facilities and flexible point of sale software includes all the features of Payment which will work “Anytime andAnywhere” • Banks giving option to customers to construct a more comprehensive picture of how, when, and where they’re spending money using network of devices. Any time AnywherePayment SpendVisibility 6 3 • Bank track devices location and pattern of payment from which customer makes frequent for their purchases .If anything they feel fishy, financial institution can easily block the fraudulent purchase. • RFIDandNFCbased contactless payment technology allows transactions without requiring physical contact between the device and the terminal. Contact lessPayments Protection ofFraud DIGITAL TRANSFORMATION MAGIC USING TECHNOLOGIES, TOOLS ANDMETHODS. MOBILE-TECH INTERNET OFTHINGS ARTIFICIAL INTELLIGENCE CLOUD BIGDATA AR/VR CYBERSECURITY WEB-TECH DESIGNTHINKING HYPERAUTOMATION