We all have unexpected expenses, like an untimely mechanic’s bill or a broken appliance that needs maintenance. But it’s not always obvious how we’ll pay those bills. But what if our bank could not only recommend a financial solution, but also help us find someone to fix the problem — and even schedule the appointment automatically? Such situations are becoming reality as banks get smart about the connected future.
While the commercial and manufacturing applications of the Internet of Everything have been well explored, the personal finance aspects have largely remained in the background. But as the IoE grows, banks are eager to transform themselves into a more essential partner in the day-to-day lives of both individual and corporate customers.