This study looks at the role proper management of data (The internet of things (loT)) and it's significance in the finance industry using Polaris Bank as a case study. The study uses a survey approach for data collection. Some of the challenges taken into consideration were related to security, privacy, reliability, scalability and stability. The benefits of IoT align with Polaris Bank strategic goals by improving customer experiences, driving operational efficiency fostering innovation, enhancing security and enabling Data driven decision making.