Wearable gadgets are capturing all sectors of industry and finance sector is slowly adopting these gadgets.. The e trend in finance domain started with calculator, now it is Google Glass, and its companion app My Glass, Smart Watches, interactive t-shirts , washable ear phones in hood, USB necklaces, USB cufflinks, Fuel bands, iWallets, and Bluetooth Gloves are few in this series.
Gadgets which are making maximum changes in finance domain maybe the smart glasses for eg Google glass. There are few European banks which are making their accounts viewable through Google glass for their customers. Westpac’s New Zealand office is even developing their on app for the customers. The company is looking for an app which gives their client a peripheral vision which will be like a real time experience.
The smart watches are no less in using advanced technology, they send alert signals according to the changes in share market and they can also used in checking bank accounts. Wearable are chosen over other machines since, computing can be offloaded without any restrictions, and the energy consumption level is very low.
A professor in University of London has created a ring, which has the capability to receive message from the internet. An app connected with the ring will give the details of big data as well. Various alerts from the internet will be sent to the ring which can be sensed by the customer.
Transaction through wearable can be the most secure method since the main inputs will be the heartbeat, pulse, fingerprints, and even the DNA samples, which is unique for all and which can serve as highly secure passwords. The wearable can deliver the message to the right person and that too within no time, this is important in case of reminders and alerts. Alerts like EMI date, credit card dues, and interest rates all can be received by the customers on time.
Wearable are very popular among the fitness freaks but it seems like the gadgets will conquer all sectors as the total revenue on these gadgets , worldwide, has grown to $1.6bn this year, and it is anticipated to be increasing to $5bn by 2016.
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