Although financial instruments and payments are intangible in nature, they usually have their roots in tangible objects (or "things"). Considering this, IoT may have an indirect rather than a direct impact to the financial services industry. As IoT applications and use cases continue to mature, financial services organizations may have new types of information available to analyze underlying assets in their portfolio.
The Internet of Things in the financial services industry | Deloitte University Press
Can financial services, which deals mostly with the intangible, benefit from Internet of Things technology? Absolutely—and not only from more and better data about clients' physical assets. IoT applications aim to transform finance along with every other sector.