Major banks and financial institutions have launched trials of wearable technologies like smartwatches and fitness bands for banking. However, widespread adoption of wearable banking faces challenges from concerns about data privacy, fragmentation of different wearable devices, and the need for digital platforms that can securely share data across systems. A digital business platform is required to help securely transform backend services, provide analytics, accelerate app development, protect sensitive data, and integrate wearables with the cloud.

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Wearable
Banking
From
Building
Trials
to
ConverFng
Wearable
RevoluFon
into
a
Reality
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Safe
Harbor
Statement
The
following
is
intended
to
outline
our
general
product
direcFon.
It
is
intended
for
informaFon
purposes
only,
and
may
not
be
incorporated
into
any
contract.
It
is
not
a
commitment
to
deliver
any
material,
code,
or
funcFonality,
and
should
not
be
relied
upon
in
making
purchasing
decisions.
The
development,
release,
and
Fming
of
any
features
or
funcFonality
described
for
Oracle’s
products
remains
at
the
sole
discreFon
of
Oracle.
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Paypal
App
on
the
Latest
Samsung
Gear
2
SmartWatch
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Wearable
Banking
CaixaBank,
Barclays,
Banc
Sabadell
,
Wells
Fargo,
Bank
of
America,
Halifax
…
have
launched
payments
wristbands,
smart
watches
apps
and
trial
with
Google
Glass
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With
wearables
users
can
do
more
on
the
go

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Which
one
would
you
rather
take
to
the
beach?
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Branch
Finder,
Currency
Converter,
Payments
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InteracFng
to
Banking
Accounts
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From
Building
Trials
to
ConverFng
Wearable
RevoluFon
into
a
Reality
PlaDorm
Requirements
for
Digital
Growth
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80%
Of
consumers
have
privacy
concerns
with
wearable
Internet
of
Things
(IoT)
connected
technologies
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MOBILE
SECURITY

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IoT
Devices
INTEGRATION
Wearable
Tecnology
is
highly
fragmented
by
brand
and
device
type
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APIs
to
Share
Data
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New
services
and
applicaFons
require
exchanging
data
among
different
systems
and
eventually
with
external
companies
(Insurance
Companies,
credit
cards…)

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CLOUD
As
the
Glue
of
Everything
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Functions of A Digital Business Platform
(Not an exhaustive list)
API Services to securely
transform back-end services
into easily consumable APIs
Analytics Services to provide
end-to-end visibility across
the entire digital value chain
Developer tools and
Services with integrated
monetisation to accelerate
development and
reduce time-to-market
Enterprise-grade security to
protect sensitive data
End-to-end business & user
channel management with
operational visibility
Integrated BaaS (back-end
as a service) for developers
to build engaging apps
Carrier-grade cloud and on-
premises deployment

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“For
financial
services,
that
will
be
a
day
when
consumers
can
bank,
shop,
and
pay
while
walking
and
driving
-­‐-­‐
with
or
without
their
smartphones
-­‐-­‐
with
unparalleled
ease,
intuiFveness,
security,
and
privacy”.
– Javelin
Strategy
&
Research
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