Banking machine learning in iot

The intersection of banking , machine learning (ML) , and the Internet of Things (IoT) opens up a range of innovative applications that are transforming how financial services are delivered and secured. Here's a breakdown of how these technologies interact, along with real-world use cases and research directions: 🔁 How They Work Together IoT devices (e.g., ATMs, mobile phones, smart cards, wearables) collect large volumes of real-time data. Machine Learning algorithms process and analyze this data to: Detect anomalies Personalize services Automate decisions Banking systems leverage this to improve customer experience, security, and operational efficiency. 📌 Use Cases 1. Fraud Detection IoT sensors in ATMs or POS machines track physical behavior. ML analyzes behavioral patterns (e.g., how a card is swiped, location of usage) to flag anomalies. E.g., sudden withdrawal from a different country while your phone is still in your home country. 2. Pers...