The way that consumers pay for things has been revolutionized during the pandemic—and financial institutions are at the center of that. Ease, speed and convenience are expected at every touchpoint, along with the demand for uninterrupted access to funds and the ability to make payments and move money 24/7.
With the IoT, your customers can use your banking services with their connected devices, like their wearables (fitness trackers, smart watches and rings, and GPS trackers). With the ability to share information with these IoT devices, people can easily access their bank account details, make payments and handle other banking transactions anywhere, anytime—they don’t even need their smartphones, tablets or laptops to do their internet banking.
The IoT also supports the every-channel customer service experience they expect. With smart devices that are synched and working together, a person can start a transaction on a mobile or IoT device and then finish it in-branch—without any interruptions or having to repeat steps in the process. Even better, you can engage them along their transaction journey, increasing customer satisfaction.