How banks can benefit from Wearable tech and IoT?

[GDS International]

Next generation banks will be digital at their core. A big part of that will involve processing transactions in real time, understanding what customers are doing and using that data (with permission) to provide value back.

Wearable technology is a big opportunity. As it’s not taken off properly yet, banks still have a window of opportunity to innovate. They’re competing with the iWatch and Google Glass tho, who have already made their mark. Right now wearable technology is about checking your balance, and responding to basic notifications. But it will soon become a way to identify yourself either remotely or in person, and a way to authorise payments.

Watch this short video on the topic:
http://bit.ly/1UIW6Il

[Landell]

Good topic, never thought about it. For banks, probably finding out more about their clients. For clients - another channel of communication.