REIMAGINING CUSTOMER INTERACTION WITH BANKING OF THINGS TECHNOLOGY AS THE BRIDGE TO ENHANCED EXPERIENCES

This research examines the amalgamation of Banking of Things (BoT) and Internet of Things (IoT) technologies to improve customer experience in the banking industry. The objective is to evaluate the influence of BoT on customer engagement, analyze the contribution of IoT enabled customization to enhancing customer pleasure, and investigate the security risks and solutions associated with IoT adoption. The study employs a quantitative methodology, using questionnaires to collect data from 280 banking clients, concentrating on their experiences and impressions of IoT-enabled financial services. The data is examined using statistical methodologies including multiple regression analysis, correlation analysis, and factor analysis. The results indicate that BoT substantially improves customer experience, with IoT-driven customisation resulting in heightened consumer engagement and satisfaction. Security problems, including data privacy and cybersecurity threats, were recognized, with encryption, multi-factor authentication, and blockchain integration suggested as viable solutions. The research underscores the increasing significance of IoT in banking, while stressing the need for stringent security protocols and regulatory structures to mitigate developing dangers. The study offers significant insights for financial companies aiming to enhance client interactions and guarantee safe IoT integration in banking.