The Wearables industry has over the past few years progressed from devices which are expensive and difficult to use, to the relatively accessible and usable devices we see today. The first Wearables report in our insight series will give an overview of how the financial services industry has reacted to this new technology, with visual examples of trends in the current range of banking apps. The context of the smartwatch within the Wearables market is examined, as well as what the future will likely hold for this emerging technology.

1. Mapa Insight Series
Find out more about our research:
www.maparesearch.com/research
The Promise Of Wearables:
An Internet of Things in Banking

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Objectives
The key objectives of the research were to:
• Provide statistics and explain the trends regarding device uptake
and consumer usage
• Provide an overview of current banking developments on the
smartwatch and future opportunities
• Highlight some forward-looking ideas and look at inspiration for the
future (as Wearables constitutes a new market).
In this report we also show a selection of banking apps on both
Android and Apple-based smartwatches.
This report will feed into internal planning processes by providing a
stategic understanding of what is happening in the marketplace.
Furthermore, innovative examples can provide inspiration, and can
strengthen existing business cases.
Methodology
We have conducted research using the portfolio of live accounts
that we have access to. In addition, we have conducted desk
research to uncover other initiatives of interest and insights relevant
to the topic. Our findings are summarised in this report, providing in-
depth insight into a number of innovative banks and initiatives from
across the globe.
Chapters covered
In Chapter 1 we start with an overivew of the current
landscape, including user uptake statistics and different
device capabilities.
In Chapter 2 we take a look at some of the stand out
PFM features and platforms that have been launched
by banks on both Android and Apple.
In Chapter 3 we provide an overview of the few
payment initiatives that are out there and how they will
likely impact the market.
In Chapter 4 we look at how the differences between
mobile and the watch will impact design and user
experience trends.
Finally we summarise and report our conclusions.
What’s next?
Please make sure to look at the list of coming reports
for the 2015 Mapa Insight Series (see end of this
report). Next, we look at An Engagement Masterclass
in banking.
Stay tuned!
Objectives and MethodologyA

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Sample Slides

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Barclays (UK) uses an on screen meter to represent account balance at a glance. The meter points to the left when the balance is
low, and to the right when it’s high. The high and low amounts are set by the user within the mobile banking app.
Balance1
Balance is shown via a meter
with blue as the high threshold
and yellow as the low
Barclays found that people will sometimes check their balance on a mobile 40 or 50 times a day. Steven Roberts
at Barclays described the app’s balance feature as “a window into your account”. After conducting a pilot trial
Barclays released this app to customers with reassurances that it was just as secure as mobile banking. The
bank envisages notifications and payments will be added in future versions of the app, but for now have “put
something out there that is safe enough for you use and play with” (Source: http://bit.ly/1GIGcDg)
Barclays has enabled Force
Touch to refresh the balance.
To use Force Touch the
customer presses down on the
screen and the Refresh button
appears
Customers can also choose to
never show the actual balance,
but only a visual representation
via the meter
The balance thresholds can be
changed so that the meter
displays when the account
balance is very low

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Mint (US) lets users review their day-to-day spending at a glance and then suggests what’s available for “fun”, or discretionary
spending. Once set up, Mint reviews your spending for the past 3 months in 18 “fun” categories for example, dining, shopping,
entertainment and more. From there, Mint then encourages you to set a monthly fun spending goal, which can be adjusted by the
user. Mint will also send you personalized weekly spending summary notifications to help you stay on track. Minimal elements on
the screen make this one of the most well-designed personal finance management apps out there.
1
Customers are notified how
much they have left to spend
Mint retain the informal
language they use in the
mobile app and in all customer
communications
Icons are used to display
categories with minimal text
Monthly spending goals can be
set easily on the watch
Spend tracking
PFM

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One unique feature from BNP Paribas (FR) is the ability to launch live chat and calls on the iPhone via the watch.
1
Live chat and calls can be launched on the
iPhone via the watch.
A guide to the feature appears when hovering
over the contact pages
It shows the user how to press the button on
their iPhone which then launches the chat or
call
This is an example of a seamlessly transition between the mobile and watch
app. The guide which appears on the watch is particularly well designed and
is the only one we have come across in our research. It eliminates the need
for difficult to read text by playing images of instructions.
Contacting the Bank

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1
Glances
From the watch face it is possible to swipe up to get quick access to Glances, “scannable summaries of the information you view
most frequently”. These can also be customised from the phone to remove or change the order of the glances. Glances should
“reduce the interface down to its most basic visual feedback.”
Glances are an opportunity for banks to be at the forefront of every customer’s watch experience. This is similar to adding
information to the phone’s notification centre, which is becoming more and more popular with the leading banks. Some examples of
banking glances are shown below.
Different strategies have been employed by certain banks when it comes to their Glance. BBVA has removed the visualisation of
balance to only include the most essential information. Whilst ABN AMRO and BNP Paribas keep their bubble graph and weather
indicator to create a consistent multi-channel experience.
BBVA (ES)
Has removed the visual
representation of balance and
instead opted to keep balance
and pending transactions in
their Glance
ABN AMRO (NL)
Continue to use the
visual representation of
balance in their Glance
feature
Tangerine (CA)
on the Glance, customers see the
last transaction rather than the
balance. To get the balance the user
has to tap on the screen to go into
the Tangerine app.
BNP Paribas (FR)
Use the same weather
feature as in their mobile
app to display an
indication of balance
Design and User Experience

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Mapa Insight Series:
Report Schedule 2015

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2 Mapa Insight Series: Report Schedule 2015
1. Tablet Banking Series – 7th edition: A deep dive
into five standout initiatives
Published: February
2. SME Banking: How to win share through
successful differentiation
Published: March
3. Mobile Banking Series: How to successfully
implement increased app functionality
Published: April
4. Bank Disruption: Assessing the Disruptive Threat in
Retail Banking
Published: May
5. Building PFM With Mass Market Appeal
Published: July
6. Mobile Sales: Leveraging Sales Opportunities
in Mobile Browsers and Apps
Published: August
7. The Digital Branch: Integrating technology and
innovation to re-imagine the traditional branch
Published: September
8. The Promise Of Wearables: An Internet Of
Things In Banking
Published: October
9. An Engagement Banking Master Class
Due: October
10. Digital Banking Security Insight Series, 4th
Edition
Due: November
11. Ten Things Digital Teams Should Do In 2016
Due: December

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Contact Details
Author
Katrina Elliott
Consultant
katrina.elliott@maparesearch.com
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www.maparesearch.com
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Management
Mark Pavan
Managing Director
mark@maparesearch.com
Chris Guerin
Business Development Director
chris.guerin@maparesearch.com
Jane Collins
General Manager
jane.collins@maparesearch.com
Ross Methven
Director of Client Services
ross.methven@maparesearch.com

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