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The Inside Word on Wearables and Wearable Technology

You are here: Home / Trends / Banks on Wearables: We Can Barely Deal With Online and Mobile

Banks on Wearables: We Can Barely Deal With Online and Mobile

August 18, 2014 By Dan Rosenbaum

We just came across a truly excellent roundtable about wearables and the consumer banking industry, featuring some forward-thinking consultants and bankers. Their consensus: we have so many other things to worry about first, maybe we’ll get around to this in three years. Or ten. But not this year or next. Unless, of course, Apple does something, in which case we’ll have to rethink everything.

The whole thing is worth reading and thinking about, but here’s our favorite quote, from Michal Panowicz: Managing Director, Marketing & Business Development for mBank”

In my opinion, wearables, given the state of user installed base (minimal) and financial’s general digital readiness (less than minimal) are a distraction. If I were to choose, crack mobile first – really, really well. Put all resources here before a single man day is spent on wearables.

 

Last updated by Dan Rosenbaum on August 26, 2014.

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Filed Under: Trends Tagged With: banking

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Comments

  1. Ben dibble says

    August 19, 2014 at 10:27 am

    Considering that in Europe, you can buy items from vending machines with your phone, if the US Banking industry doesn’t get a move on, the US Phone industry will take over all transactions, leaving them with loans.

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