Financial Intelligence – In the business landscape, sellers can now benefit from improved accessibility to financial data, along with personalized user interactions that were previously unavailable due to limited user data availability, all while respecting user choice and obtaining proper authorization. The incorporation of extensive data, often referred to as big data, is set to transform customer interactions across various platforms and revolutionize the presentation of information. This advancement opens up new possibilities for sellers to enhance their engagement with customers and deliver more tailored experiences.

Empowering Sellers with Enhanced Financial Data

The seller will have easier access to financial data and personalized user interactions that weren’t otherwise available (offering only your choice and after permission or authorization) because of the lack of user data needed to support them. The annexation of so-called big data will revolutionize the way customers interact with different platforms and how information is presented.

Now if we take another example and imagination: you are trying to buy stuff online, and your total purchase is 1000 dollars, but at the same time your account, wallet, or balance is only 800 dollars. In this scenario, the system under IoT will make a decision about whether you should be allowed to continue this purchase based on your historical records, monthly expenditures, salary data, and expense habits.

A kind of credit rating system will create 200 dollars of credit or loan on the fly, let your transaction go through, and advise you on 3 installments (70 dollars each, which means 10 dollars of fee for 200 dollars of the loan) to recover 200 dollars in the next 3 months.

You enter a shopping mall, and based on your cell phone, your mobile network service provider picks up your location and, on that basis, flashes you personalized ads, specialized web pages, and recommendations based on shopping in that location.

For instance, you get a message that there is a 30% discount on your favourite cloth brands on the 2nd floor, 3rd wing at ABC Cloth Store, and you still have $0 left for your personal shopping from this month’s budget, so go and enjoy. I think this kind of user data experience will fundamentally change business models and revenue systems, customer service, smoothing transactions, and engagement at every touch point.

With so much data available, the potential benefits are exciting. Seamless transactions and a more personalized customer experience are just a couple of advantages that will arise from the adoption of the IoT. So long as there’s transparency, data can enhance customer satisfaction. Investors, marketers, and designers take note and imagine the possibilities!

Some applications are ATMs, information kiosks in bank branches, and credit and debit cards that may use sensing technology to monitor and take action on the consumer’s behalf. Another big potential may be the connection of financial services (such as checking, credit card, or investment accounts) to some of the common household devices, which could automatically rebalance to limit your downside exposure or transfer your holdings to more liquid securities in anticipation of future cash needs.

This may sound a bit far-fetched now, but it is not completely out of the realm of possibilities. It is predicted that eCommerce sales in 2015 will reach $276 billion. That is a lot of sales, and it does not seem to be slowing down. And 90% of this payment will come through mobile payment methods using a combination of IoT and Mobile Payments.

Amidst these opportunities and challenges, empowering sellers with enhanced financial data remains a pivotal objective for businesses in this dynamic landscape.

In the future, financial transactions will be better and more efficient. Control over finances will also be improved. With payment intelligence as the main focus, people and companies can expect smoother operations, less difficulties, and better adaptability. As technology keeps getting better, we will see more advanced tools being used in financial services. This will change how we use money and open up new opportunities in the financial industry.

African banks can grow a lot by following global rules, coming up with new ideas to succeed in the future, and gaining the trust of customers. Right now, many banks in Africa don’t have that trust. The adoption of payment intelligence technologies strengthens financial systems, empowering individuals with advanced capabilities and a seamless payment experience.

Books Referred & Other material referred

  • Open Internet research, news portals and white papers reading
  • Lab and hands-on experience of  @AILabPage (Self-taught learners group) members.
  • Self-Learning through Live Webinars, Conferences, Lectures, and Seminars, and AI Talkshows

Points to Note:

it’s time to figure out when to use which tech—a tricky decision that can really only be tackled with a combination of experience and the type of problem in hand. So if you think you’ve got the right answer, take a bow and collect your credits! And don’t worry if you don’t get it right.

Feedback & Further Question

Do you need more details or have any questions on topics such as technology (including conventional architecture, machine learning, and deep learning), advanced data analysis (such as data science or big data), blockchain, theoretical physics, or photography? Please feel free to ask your question either by leaving a comment or by sending us an  via email. I will do my utmost to offer a response that meets your needs and expectations.


Conclusion: Empowering Sellers through Enhanced Financial Data. While embracing innovations, it’s essential to acknowledge the accompanying risks. The influx of new data has the potential to complicate data management for financial services firms, requiring careful attention. Moreover, the ever-increasing prominence of the Internet of Things (IoT) raises questions about its extent and potential application in sectors like banking and investment management. However, it’s worth noting that IoT technology holds promise for individuals who are passionate about self-tracking health or enthusiastic about wearable tech, particularly among tech-savvy millennials.

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Posted by V Sharma

A Technology Specialist boasting 22+ years of exposure to Fintech, Insuretech, and Investtech with proficiency in Data Science, Advanced Analytics, AI (Machine Learning, Neural Networks, Deep Learning), and Blockchain (Trust Assessment, Tokenization, Digital Assets). Demonstrated effectiveness in Mobile Financial Services (Cross Border Remittances, Mobile Money, Mobile Banking, Payments), IT Service Management, Software Engineering, and Mobile Telecom (Mobile Data, Billing, Prepaid Charging Services). Proven success in launching start-ups and new business units - domestically and internationally - with hands-on exposure to engineering and business strategy. "A fervent Physics enthusiast with a self-proclaimed avocation for photography" in my spare time.

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