Summary:
- The article discusses how the Internet of Things (IoT) is transforming the financial technology (fintech) industry. IoT devices are being used to collect and analyze data, which can help financial institutions make better decisions and provide more personalized services to their customers.
- IoT in fintech can improve risk management by monitoring financial transactions and detecting fraud in real-time. It can also help financial institutions better understand their customers' behavior and preferences, allowing them to offer more tailored products and services.
- The article highlights how IoT is enabling new business models and revenue streams in the fintech industry, such as pay-per-use insurance and dynamic pricing for financial services. This can lead to more affordable and accessible financial products for consumers.