3 Ways IoT Will Change Our Personal Finances

| July 18, 2019

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The widespread use of the Internet of Things (IoT) technology application is changing different areas of our lives, and as our prior article “The Mindset and Insights that IoT Needs From the Financial Sector Industry” clearly exemplifies, the financial sector is also feeling the growth in IoT interconnectedness.We can envisage on the horizon three main ways in which IoT will transform our personal finances. Personal finances are limited to the information we can gather about ourselves. Currently, this information is obtained from credit card summaries, home or mobile banking, or expense control applications. However, with the massive deployment of sensors in the devices that surround us, an unprecedented capacity will be reached to collect objective data about our daily lives.

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Europe’s leading independent Machine to Machine (M2M) managed services provider, Wireless Logic works with over 1000 application providers, system integrators and enterprises, delivering a range of managed services including management and monitoring software platforms, a cloud-based private network infrastructure as well as specialist cellular and satellite connectivity.

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