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Banking’s Game Plan for Wearables

As banks and credit unions decide whether to support wearables, it is important to analyze the market and build a game plan for success.

The official inauguration of Apple Watch brings great expectations inclusive of changing the way we think about how to gather data and turn it into information. Until now, achieving information gathering meant entering information via keyboard, voice or video. Now, we are embarking on a world of ‘sensor data’ and it suits consumers.

More and more, bank and credit union customers prefer to bank wherever they are, using their smartphones, tablets or wearables as the remote control for their financial management. If consumers are using mobile-connected devices to streamline their to-dos, then what is next for these tiny, mobile computers? Proving their continued benefit for banks and financial institutions.

For example, the Apple Watch puts sensors into the wrist of every user – stockbrokers will overlay their heart rate data on top of their trade data.