Who wants a wearable? So far the answer to that questions has been “almost no one,” as smart watches have failed to gain traction in the marketplace. That could, however, see a change with the release of the Apple Watch.
And if Apple can pull off the smartwatch adoption hat-trick, the face of banking in this country could very seriously change, reports American Banker.
“Imagine being able to check your balance right from your wrist, without reaching for your phone,” said Matt Krogstad, vice president of mobile banking and payments at Bank of The West. “I think it’s an awesome use case.”
A knock-out banking use case has yet to be uncovered for wearable devices, though some banks are experimenting with allowing the watch to be used for quick balance checks (without requiring a log-in). And banks and bankers remain curious.
Well Fargo and Tangerine (formerly ING) have been working on apps for the Samsung smart watch and Android Wear, while various Australian banks have been jumping on board with smartwatches.
Charaka Kithulegoda, chief information officer of Tangerine, is hoping Apple “will push the industry to the next frontier of the user interface in wearable.”
“The potential in wearables is really big,” Kithulegoda said. “Today, there is a fairly restricted definition of what mobile is. But when you think about it, wearable will change the definition of what we mean by mobile.”
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