Heuristic Algorithm using Internet of Things and Mobility for solving demographic issues in Financial Inclusion projects

TL;DR

This paper proposes a heuristic algorithm leveraging IoT and mobility technologies to enhance financial inclusion in rural and semi-urban areas, addressing accessibility challenges faced by financial institutions.

Contribution

It introduces a novel IoT and mobility-based heuristic approach specifically designed for improving financial inclusion efforts in underserved regions.

Findings

Demonstrates potential of IoT and mobility in expanding financial services

Provides a strategic framework for policy implementation

Highlights technology's role in bridging urban-rural financial gaps

Abstract

All over the world, the population in rural and semi-urban areas is a major concern for policy makers as they require technology enablement most to get elevated from their living conditions. Financial Inclusion projects are meant to work in this area as well. However the reach of financial institutions in those areas is much lesser than in urban areas in general. New policies and strategies are being made towards making banking services more accessible to the people in rural and semi-urban area. Technology, in particular Internet of Things (IoT) and Mobility can play a major role in this context as an enabler and multiplier. This paper discusses about an IoT and Mobility driven approach, which the Financial Institutions may consider while trying to work on financial inclusion projects.