The network of physical things that are fixed with software, sensors, and different technologies for the purpose of swapping and connecting data with other systems and devices over the Internet is known as the Internet of Things (IoT). The Internet of Things (IoT) has experienced incredible growth, thanks to technological advancements and the surge in demand for instant insights into digital transformation solutions and activities.

The network of physical things that are fixed with software, sensors, and different technologies for the purpose of swapping and connecting data with other systems and devices over the Internet is known as the Internet of Things (IoT). The Internet of Things (IoT) has experienced incredible growth, thanks to technological advancements and the surge in demand for instant insights into digital transformation solutions and activities.

IoT is driving the digital metamorphosis in the banking industry. The surge in internet-enabled devices, like smartphones, tablets, and smartwatches, signifies an increase in opportunities for fintech software development to scale their business through the Bank of Things (BoT). IoT technologies are enabling real-time connections, making banking more efficient and customer-centric.

From smart homes to wearable devices to connected cars, the Internet of Things (IoT) is bringing about a new era of hyper-connectivity. Experts expect investments in the IoT ecosystem to rise above $1 trillion in 2026 — with no signs of slowing down. Application programming interfaces (APIs) are the backbone of IoT, ensuring scalability and security across billions of connected devices.