Smart watches & Banking Technologies, Let’s restart the game!

Thanks to awesome technology, smart watches will become common in near future. However, are banks ready to integrate this technology with their systems? What kinds of alternative services can offer to customers to improve customer experience?

Smart watches can use for campaign management, reward programs and some fundamental monetary information such as exchange rate, interest rate, stock exchange etc. In order to facilitate from this information, applications of the bank should be built in the watches. Therefore, the main device should include the watch application of the bank. As the consumer downloads the application of the bank into the mobile phone (or tablet), smart watch application of the bank should appear on the watch. The user (consumer) can control some main actions from the watch or trigger something via the mobile device.

Because smart watch app strictly depends on the mobile phone application, there can be security advantages which are sourced from main security systems of the bank. Before anything else, logging would gain countless favor as you estimate. However, according to the regulation of “Communiqué On Principles To Be Considered In Information Systems Management In Banks”, there are some strict rules on identification control. Therefore, bankers should be alerted and careful.

Deals and coupons in smart watches application will attract customers if it is used properly. This opportunity can be an open door for collaboration between deal of the day web-sites and banks. Just as the popularity of deal of the day web-sites decreases in these days, this will be a good chance to recover for them.