The research work investigates the innovative notion of IoT-enabled Know Your Customer (KYC) and the revolutionary possibilities of Internet of Things (IoT) in the banking sector. Artificial Neural Network (ANN) models may discover complicated data correlations, making customer verification more accurate and efficient. Banks may automate KYC processes using cloud-based ANN models to speed up client onboarding and transaction approvals in the digital age. The demand for better protection measures, quicker client onboarding, and constant compliance monitoring is rising as the banking industry moves online. Financial institutions may provide a more modern and streamlined client experience by adding IoT devices and technology into the KYC procedure. The system examines how IoT-based biometric authentication techniques, including face recognition, voice analysis, and geolocation verification, may provide strong identity verification while protecting client data. This study also explores how to give clients more agency via the IoT by integrating wearable devices for safe banking interactions and remote KYC. It emphasizes the importance of IoT in real-time compliance monitoring, which helps financial institutions detect and prevent fraudulent acts as soon as they occur. This study foresees a future in which an IoT-driven KYC transformation improves banks' security, customer experiences, and regulatory compliance efficiency.