IoT steadily remains on the march, setting tech trends and reformatting life as we know it. In fact, personal finance is only one of the things that it's going to drastically change. But although attacks on IoT devices were up 280% in 2017, its increasing momentum and strong influence have led analysts to consider it a primary transforming agent for financial services, according to Deloitte. Here are the three major ways IoT is doing just that. Ultimately, the limiting factor that defines what we can do with our personal finances is the personal data that is available.
The government plans to draw up guidelines by the end of March aimed at getting companies to make more use of personal data such as customers' buying history. The guidelines are expected to include rules for protecting individual rights, informed sources said. Through the guidelines, the government aims to pave the way for creating private-sector services designed to manage such data, the sources said. The government has been trying to promote commercial use of personal information. But the effort has made little progress due partly to the personal information protection law, which includes a complicated process for obtaining data use permission.
Expense Saving Bots help you save and cut down extra spending in your day to day life. One of the Expense Saving Bot examples is "Trim". Trim is a Finance Chatbot that helps you manage your extra subscriptions, check out bank balances and set up spending alert. Trim can be found in SMS or Facebook messenger like other Chatbots and not in any app. Trim has helped users save $6,322,896 in total.
Equifax, a major credit reporting agency, announced Thursday that hackers had gained access to personal data from approximately 143 million of its customers. Equifax, a major credit reporting agency, announced Thursday that hackers had gained access to personal data from approximately 143 million of its customers. Sometime between mid-May and July, hackers breached an Equifax web application, gaining access to the names, birth dates, addresses, Social Security numbers and, in some cases, driver's license numbers of some 143 million customers, the company said in a blog post Thursday. Equifax discovered the breach July 29. The company says it has "no evidence of unauthorized activity on Equifax's core consumer or commercial credit reporting databases."