Here are multiple advantages of IoT in Banking sector: 

1. Enhanced Customer Experience: Through personalized services, smart ATMs, and mobile apps, customers enjoy more convenience and tailored banking experiences.

2. Improved Security: IoT aids in fraud detection and enables secure biometric authentication methods, enhancing account protection.

3. Cost Savings: Operational efficiencies, energy management, and reduced maintenance costs lead to significant financial savings.

4. Real-time Data and Analytics: IoT generates valuable real-time data for in-depth customer behaviour analysis and more effective risk assessment.

5. Asset Management: IoT ensures intelligent ATM and branch maintenance and real-time asset tracking for better resource management.

6. Regulatory Compliance: Automated data recording and reporting help banks meet regulatory requirements with greater efficiency and accuracy.

7. Financial Inclusion: IoT-driven remote banking extends services to underserved areas, fostering financial inclusion.

8. Smart Payment Solutions: Adopting contactless payments, wearables, and smart cards offers secure, hassle-free transactions.