The financial sector is going through a digital metamorphosis that is gradually redesigning the relationship between people and financial institutions. As technology advances within the banking industry, firms are racing to develop tools that can facilitate real-time connections with their customers.
The Bank of Things (BoT) plays an important role in aiding this digital transition. Over the next few years, the number of electronic internet-enabled devices, including smartphones, tablets and smartwatches, will continue to soar. According to Cisco’s annual internet report, more than 30 billion devices will be connected to the internet in 2023. More connectivity means more opportunities for fintechs to scale their business through BoT.
