Category
Lifestyle
Assisted Choices
Trend cluster
Category
Wearable
Banking
Managing personal finance becomes easier with integrated banking accessories.
4.2
Trend score
Trend
What is the Wearable Banking trend?
Wearable Banking: Managing personal finances can be challenging, particularity for those who find scheduling and tracking numbers to be a hassle. Helping to make the process more streamlined, brands are incorporating necessary apps and tracking software into convenient wearable devices, allowing consumers to efficiently manage and organize finances in a way that combines aesthetic appeal and functionality.
Trend themes
Themes within the Wearable Banking trend
Three behaviours holding the trend together01
Wearable Payment Systems
More companies are using wearable technology as a platform for payment processing, making it more secure and convenient for consumers.
02
Biometric Authentication
Wearable devices using biometric data, such as pulse rates, are being developed to enhance security in financial transactions.
03
Smartwatch Connectivity
Banks, such as Westpac in New Zealand, are developing apps that connect with the smartwatch to provide greater accessibility to mobile banking.
Industry implications
What the Wearable Banking trend means for industry
Where the trend changes the playbookFor
Personal Finance
The integration of wearable technology in financial management is transforming the way consumers approach personal finance.
For
Wearable Technology
The financial industry is leveraging advancements in wearable technology to create new products and services, expanding the wearable market.
For
Mobile Banking
Smartwatch connectivity and wearable payment systems are shaping the future of mobile banking, offering greater convenience and security for users.
Workshop question
List the steps consumers take when utilizing your offering. What is one step you can completely eliminate?
Trend signals
Trend signals for Wearable Banking
Trend score 4.2 out of 10, from popularity 65%, activity 53%, freshness 8%.
Popularity65%
Activity53%
Freshness8%
Audience
50%Men
50%Women
- Gen Alpha (not a primary audience)
- Gen Z
- Millennial
- Gen X
- Boomer (not a primary audience)
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Wearable Banking trend
6 featured examples from Oct 29, 2014 to Jul 13, 2016CategoryTech
Wearable Banking Apps
The Nationwide Wearable App Shows the Possible Future of Mobile Banking
Banks can leverage wearable technology to modernize and streamline their services, making banking more efficient and convenient for their customers.
CategoryTech
Biometric Banking Wristbands
This Wearable Payment Device Uses Your Pulse for Authentification
Develop and manufacture innovative wearable devices that implement biometric authentication technologies for various applications.
CategoryBusiness
Wearable Banking Wristbands
The CaixaBank Contactless Payment System is a Spanish Alternative
The banking industry can explore the adoption of wearable banking wristbands to provide customers with a seamless and secure payment experience.
CategoryFashion
Smartwatch Converter Chips
'bPay Loop' Transforms Any Watch into a Contactless Payment Tool
Disruptive innovation opportunity in the financial technology industry to enhance and expand contactless payment solutions.
CategoryLifestyle
Payment-Processing Rings
VISA's New Payment Ring Allows Consumers to Buy Things with Their Jewelry
The introduction of VISA's payment ring creates new opportunities for the jewelry industry to integrate technology and offer innovative, functional jewelry designs.
CategoryTech
Wearable Banking Devices
The Westpac Bank in New Zealand is Developing an Apple Watch App
Companies in the financial technology sector have the opportunity to disrupt traditional banking methods and create innovative solutions in response to the rise of wearable bankin…
