Four ways the connected car will change banking

If you think Americans have a love affair with cars now, just wait until people begin to treat them not merely as a means of transportation but as smartphones on wheels -- or robot servants. Automobiles are more wired than ever. But experts say the late-model cars on the road today are just a precursor to truly connected cars. In the near future this next generation of cars -- loaded with sensors and screens, feeding back to third parties huge amounts of data on vehicle performance and even driver behavior -- will communicate with other devices, be loaded with apps and even make their own decisions. While for now the smart car is lagging behind the smart home, automobile manufacturers, technology firms, ride-hailing companies and financial institutions are on course to integrate automobiles into the burgeoning Internet of Things. In the process they intend to revolutionize transportation and the fabric of people's daily lives. "The car is going to be an extension of who you are, just like the phone is," said Suresh Ramamurthi, the chairman and chief technology officer of CBW Bank, a small bank in Weir, Kan., that has attracted a national client base of fintech startups. In the more distant future, the car may become something greater still: an autonomous agent that can carry out tasks and authorize payments without requiring its owner's input.