Abstract
IoT (Internet of Things) covers network-connected devices that can improve various aspects of our lives. Every second in the world, 127 new devices join the internet. According to some estimates, by 2025, there will be 64 billion such “smart” devices. This is a significant jump when compared with 2018 when there were 10 billion of them. IoT gadgets are such touch points that collect information about the environment. They share data through the cloud, where they are analyzed to transform people’s businesses and daily lives. In particular, technology has already penetrated deeply into the world of Finance. Today, there is no need to visit banks often. However, sometimes a visit is unavoidable. IoT is designed to help make it more convenient for customers. For example, queues are common for many financial institutions. IoT tools can quickly find the most suitable bank consultant. In this case, the customer enters their problem into the original equipment, then they are issued a ticket with information about the specialist, then the device notifies them when it is their turn. IoT allows bank managers to reduce the number of employees, and maintenance costs, and at the same time reduce the waiting time for the client. BMO Harris Bank has tested a “smart” branch, where instead of real employees – chatbots. In case of unexpected questions, chatbots contact a real consultant using video conferencing tools.
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Astanakulov, O., Balbaa, M.E. (2023). The Use of the Internet of Things to Ensure the Smooth Operation of Network Functions in Fintech. In: Koucheryavy, Y., Aziz, A. (eds) Internet of Things, Smart Spaces, and Next Generation Networks and Systems. NEW2AN 2022. Lecture Notes in Computer Science, vol 13772. Springer, Cham. https://doi.org/10.1007/978-3-031-30258-9_40
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