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© Mindtree limited 2012 
Emergence of WearablesUse cases through accessories
Agenda 
•Emergence of Wearables 
•Why wearables make sense for banking? 
•How Wearable's are used today? 
•Categorization of Potential Wearable banking Use Cases using the framework 
•Wearable banking concept -Demo 
2
Emergence of Wearables 
3
4 
Source: The Deloitte Consumer Review. Beyond the hype: The true potential of mobile and Deloitte Media Consumer Survey 2013 
Emergence of Wearables 
•Engagement with digital technology is increasing 
•Younger generations are more attracted towards digital technology 
•Rising consumer expectations for digital experiences 
•Digital Fashion Statement
Wearable Economy
6 
Wearables would help in communicating and sharing details irrespective of distance 
Devices would point to increasingly sophisticated relationship people have with their technologies 
Wearables would offer personalized touch 
Wearables will impact the way we live, work and socialize 
Source: Report on Future of Wearable Tech, PSFK Labs, 2014
Power of Wearables over traditional digital channels 
Someoftheinterestingattributesduetowhichwearableswillbepreferredovertraditionaldigitalchannels: 
7 
Hands-free devices 
Availability of Biometric Information 
Accessibility of Augmented Reality 
More personalized
A significant opportunity for Banks/FIs 
•Digital is becoming mainstream 
•Online channel is well established 
•Mobile channel is growing at a fast pace 
•Emergence of wearables 
•Digital channels are being adopted at a faster pace. 
•Wearables have added value to other industries. 
•Future Customer Expectations 
•Initial Demand will come from tech- savvy individuals 
•Expectations will rise with the popularity of the new products that are coming in the market 
Drivers & Enablers 
8 
Implications for Banks/FIs 
•Need for innovation to create inorganic brand value and buzz in the market 
•The need to build competency by aligning systems & business practices to capitalize upcoming opportunities 
•Avenues of new revenue streams (which has potential to become significant in future)
How wearables are used today? 
9 
Alerts & Notifications 
Payments 
Augmented reality 
Control 
Tracking human activity 
Assistance for the disabled
CaixaBank(Financialservicescompany,Spain) 
•StocksandEquityTrackingviaSmartWatch 
Westpac(Financialservicescompany,Australia) 
•CreatedanappthatletsconsumerschecktheirbankbalancesonaSonySmartWatch 
U.S. Bank (Financial services company, US), Wells Fargo (Financial services company, US) & ING Direct (Financial services company, Australia) 
•Developingappsforsmartwatchtocheckbalances, receivefraudalertsandperformotherbankingtaskssimplybytappingthefaceontheirwatches 
10 
Alerts & Notifications with Wearables
11 
PrivatBank(CommercialBank,Ukraine) 
•DesignedanappforGoogleGlass 
•Topaybillsbytakingpicturesofthem,transferfundsbetweenaccounts,payforpurchasesbysnappingimagesofQRcodes. 
M.J.Bale(Tailor,Japan) 
•PartneredwithHeritageBankandVisatodesignsuitwithacontactlesspaymentchipandantennafusedintothesleeve 
•Abilitytopayforanythingeffortlesslyandwithoutanyriskoflosingwallet 
Payments with Wearables
12 
WallabyFinancial,Inc.(FinancialServicesCompany,US) 
•DesignedanappforGoogleGlass 
•Letsconsumersstorealloftheircreditanddebitcardsintoonelocationandhavetheappadvisethemonwhichcardmakesthemostsensetouseinanygiventime 
•Afterinstallingtheapp,consumerssimplysay,“OKGlass, PayWithWallaby”,andtheappwillsuggestthebestcardtouse. 
•Theapphelpsconsumersmaximizetherewardstheygetfrompaymentcards 
Payments with Wearables (contd.…) 
BarclaysBank,UK 
•ContactlesspaymentsBandwithchipandmicroaerialtocommunicatewithterminals 
•UsercanattachVisaorMasterCarddebitorcreditcardwiththebandwhichinturnislinkedwiththeironlinetopupprepaidaccount
13 
CaixaBank(Financialservicescompany,Spain)&BancoSabadell(BankingGroup,Spain) 
•GoogleGlassusedtolocatenearbyATM/branchesandgetdirections 
•Supports24/7videoconferencing 
Virgin Atlantic (Airline, UK) 
•Used Google Glass and Smart Watch to identify & greet upper class passengers by name 
•Staff will also be able to provide up-to-the-minute information such as flight updates and destination information using the smart glasses and watches 
Augmented reality with Wearables
14 
Bangoplc(PaymentsPlatform,UK) 
•DesignedaSmartBeltwhichwouldbeusedtocontrolspendinglimits 
•Tighteningthebelt-reducespendinglimits 
•Looseningthebelt-increasespendingcapability 
Fujitsu(Informationtechnologyequipmentandservicescompany,Japan) 
•DesignedGloveswhichwouldbeusedtotakeactionsusinggestures 
•NFCtagreaderandgesture-basedinputformaintenanceandotheron-siteoperations 
Control with Wearables
15 
Nike (Multinational Corporation in Athletic wear, US) 
• Designed Fuelbands 
• To monitor users' daily activity and tally the calories they burn 
Sensoria (Garment Manufacturer, US) 
• Designed Sensor-embedded socks 
• Tracks traditional fitness data; identifies poor running styles and 
helps prevent injuries 
Ducere Technologies Pvt Ltd (Technology Company, India) 
• Designed ‘Lechal’ - Smart footwear 
• Guides towards the destination and tracks fitness 
Tracking human activity with Wearables
16 
Orcam(ArtificialVisionCompany,Israel) 
•DesignedSmartCameramountedontheframesofeyeglasses 
•Seestext,recognizesobjectsandwhispersinthewearer’sear 
EnableTalk(StudentProject,Ukraine) 
•DesignedSensorGloveswhichwouldbeusedalongwithmobiledevice 
•Totranslatesignlanguagetospeech 
Assistance for the disabled through Wearables
17 
"Quick Wins" -Invest now 
Bank balance (Smartwatch) 
TrackEquities (Smartwatch) 
Fraud Alerts (Smartwatch) 
Transaction Alerts (Smartwatch) 
Bill payments (Smartwatch) 
"Probable future big hitters" -Keep a close eye 
Locate branch/ATM (Goggle glass) 
Contextual offers through augmentedreality (Goggle glass) 
"Low hanging fruits" – 
Experiment & build capability 
Notifications (Smartwatch) 
Payment due date reminder (Loan/Bill) (Smartwatch) 
"Money Pits" –Ignore 
Control actions using gesture- based input or voice using NFC tag reader (Smart Glove, Ring) 
For instance -Customer signs 
by drawing letters in the air 
with his finger. 
Low 
Medium 
High 
Low 
High 
Medium 
Concept -Implementation Complexity 
Concept -Business Attractiveness
Wearable banking concept -Demo 
18
India | USA | UK | Germany | Sweden | Belgium | France | Switzerland | UAE | Singapore | Australia | Japan | China 
www.mindtree.com/social

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Emergance of wearables

  • 1. © Mindtree limited 2012 Emergence of WearablesUse cases through accessories
  • 2. Agenda •Emergence of Wearables •Why wearables make sense for banking? •How Wearable's are used today? •Categorization of Potential Wearable banking Use Cases using the framework •Wearable banking concept -Demo 2
  • 4. 4 Source: The Deloitte Consumer Review. Beyond the hype: The true potential of mobile and Deloitte Media Consumer Survey 2013 Emergence of Wearables •Engagement with digital technology is increasing •Younger generations are more attracted towards digital technology •Rising consumer expectations for digital experiences •Digital Fashion Statement
  • 6. 6 Wearables would help in communicating and sharing details irrespective of distance Devices would point to increasingly sophisticated relationship people have with their technologies Wearables would offer personalized touch Wearables will impact the way we live, work and socialize Source: Report on Future of Wearable Tech, PSFK Labs, 2014
  • 7. Power of Wearables over traditional digital channels Someoftheinterestingattributesduetowhichwearableswillbepreferredovertraditionaldigitalchannels: 7 Hands-free devices Availability of Biometric Information Accessibility of Augmented Reality More personalized
  • 8. A significant opportunity for Banks/FIs •Digital is becoming mainstream •Online channel is well established •Mobile channel is growing at a fast pace •Emergence of wearables •Digital channels are being adopted at a faster pace. •Wearables have added value to other industries. •Future Customer Expectations •Initial Demand will come from tech- savvy individuals •Expectations will rise with the popularity of the new products that are coming in the market Drivers & Enablers 8 Implications for Banks/FIs •Need for innovation to create inorganic brand value and buzz in the market •The need to build competency by aligning systems & business practices to capitalize upcoming opportunities •Avenues of new revenue streams (which has potential to become significant in future)
  • 9. How wearables are used today? 9 Alerts & Notifications Payments Augmented reality Control Tracking human activity Assistance for the disabled
  • 10. CaixaBank(Financialservicescompany,Spain) •StocksandEquityTrackingviaSmartWatch Westpac(Financialservicescompany,Australia) •CreatedanappthatletsconsumerschecktheirbankbalancesonaSonySmartWatch U.S. Bank (Financial services company, US), Wells Fargo (Financial services company, US) & ING Direct (Financial services company, Australia) •Developingappsforsmartwatchtocheckbalances, receivefraudalertsandperformotherbankingtaskssimplybytappingthefaceontheirwatches 10 Alerts & Notifications with Wearables
  • 11. 11 PrivatBank(CommercialBank,Ukraine) •DesignedanappforGoogleGlass •Topaybillsbytakingpicturesofthem,transferfundsbetweenaccounts,payforpurchasesbysnappingimagesofQRcodes. M.J.Bale(Tailor,Japan) •PartneredwithHeritageBankandVisatodesignsuitwithacontactlesspaymentchipandantennafusedintothesleeve •Abilitytopayforanythingeffortlesslyandwithoutanyriskoflosingwallet Payments with Wearables
  • 12. 12 WallabyFinancial,Inc.(FinancialServicesCompany,US) •DesignedanappforGoogleGlass •Letsconsumersstorealloftheircreditanddebitcardsintoonelocationandhavetheappadvisethemonwhichcardmakesthemostsensetouseinanygiventime •Afterinstallingtheapp,consumerssimplysay,“OKGlass, PayWithWallaby”,andtheappwillsuggestthebestcardtouse. •Theapphelpsconsumersmaximizetherewardstheygetfrompaymentcards Payments with Wearables (contd.…) BarclaysBank,UK •ContactlesspaymentsBandwithchipandmicroaerialtocommunicatewithterminals •UsercanattachVisaorMasterCarddebitorcreditcardwiththebandwhichinturnislinkedwiththeironlinetopupprepaidaccount
  • 13. 13 CaixaBank(Financialservicescompany,Spain)&BancoSabadell(BankingGroup,Spain) •GoogleGlassusedtolocatenearbyATM/branchesandgetdirections •Supports24/7videoconferencing Virgin Atlantic (Airline, UK) •Used Google Glass and Smart Watch to identify & greet upper class passengers by name •Staff will also be able to provide up-to-the-minute information such as flight updates and destination information using the smart glasses and watches Augmented reality with Wearables
  • 14. 14 Bangoplc(PaymentsPlatform,UK) •DesignedaSmartBeltwhichwouldbeusedtocontrolspendinglimits •Tighteningthebelt-reducespendinglimits •Looseningthebelt-increasespendingcapability Fujitsu(Informationtechnologyequipmentandservicescompany,Japan) •DesignedGloveswhichwouldbeusedtotakeactionsusinggestures •NFCtagreaderandgesture-basedinputformaintenanceandotheron-siteoperations Control with Wearables
  • 15. 15 Nike (Multinational Corporation in Athletic wear, US) • Designed Fuelbands • To monitor users' daily activity and tally the calories they burn Sensoria (Garment Manufacturer, US) • Designed Sensor-embedded socks • Tracks traditional fitness data; identifies poor running styles and helps prevent injuries Ducere Technologies Pvt Ltd (Technology Company, India) • Designed ‘Lechal’ - Smart footwear • Guides towards the destination and tracks fitness Tracking human activity with Wearables
  • 16. 16 Orcam(ArtificialVisionCompany,Israel) •DesignedSmartCameramountedontheframesofeyeglasses •Seestext,recognizesobjectsandwhispersinthewearer’sear EnableTalk(StudentProject,Ukraine) •DesignedSensorGloveswhichwouldbeusedalongwithmobiledevice •Totranslatesignlanguagetospeech Assistance for the disabled through Wearables
  • 17. 17 "Quick Wins" -Invest now Bank balance (Smartwatch) TrackEquities (Smartwatch) Fraud Alerts (Smartwatch) Transaction Alerts (Smartwatch) Bill payments (Smartwatch) "Probable future big hitters" -Keep a close eye Locate branch/ATM (Goggle glass) Contextual offers through augmentedreality (Goggle glass) "Low hanging fruits" – Experiment & build capability Notifications (Smartwatch) Payment due date reminder (Loan/Bill) (Smartwatch) "Money Pits" –Ignore Control actions using gesture- based input or voice using NFC tag reader (Smart Glove, Ring) For instance -Customer signs by drawing letters in the air with his finger. Low Medium High Low High Medium Concept -Implementation Complexity Concept -Business Attractiveness
  • 19. India | USA | UK | Germany | Sweden | Belgium | France | Switzerland | UAE | Singapore | Australia | Japan | China www.mindtree.com/social