The Internet of Things (IoT) is already a widespread theme in retail banking, but there are still avenues for growth. Rob Cottrill, Technology Director at digital transformation company ANS, explains that IoT in retail banking is all about convenience and customer experience for consumers. IoT devices give banks real-time transactions and information, which allows them to tailor customer profiles and improve customer interaction. While banks need to ensure the security and privacy of customer data, IoT offers numerous benefits to both consumers and banks, including improved fraud detection and tailored recommendations. The future of IoT in retail banking is likely to focus on convenience and customer insights, making it easier for consumers to spend money and allowing banks to better understand consumer habits. However, there are challenges that still need to be overcome, such as digital inequality and accommodating consumers who do not have access to the latest technology. Overall, the future of IoT in retail banking is promising, but it will require continued innovation and technological advancements.