Internet of Things and 5G are the revolution to the banking industry using neuro-fuzzy technique

Industry 5.0 is the key to a revolution in the banking industry. The driving forces are the Internet of Things (IoT) and fifth-generation (5G) high-speed communication technology. The article aims to propose a 5GIoT business model in the banking revolution with a neuro-fuzzy technique that will enhance banking services and operations. The developed model is based on the online survey of numerous customer categories, including international and national bankers, students, IT professionals, housewives and others. The survey’s data is used to verify the banking business model using Machine Learning (ML) & Neuro-fuzzy techniques. The fuzzy belongingness of each indicator strengthens the weights of the neural network. This developed model deals with instant loans, collateral monitoring, overspending by banks, Credit cards, Card readers, Automated Trailer Machines (ATM), Real-Time Data Sharing and online payments easily. The ML model is fed with 403 survey data and performs well, with an accuracy of 79.2% on the Python platform. The research proposes a banking business model that will make the banking system smarter concerning the smart customer with real-time data sharing.