Emerging Use Cases for the Apple Watch and Wearables in Banking

Contributor: Robbie Westacott
Posted: 04/08/2015
Emerging Use Cases for the Apple Watch and Wearables in Banking
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BankMobile, a division of Customers Bank which offers a unique no fee mobile, online and tablet banking platform, today announced it will be one of the first banks to have an app available on Apple Watch, when the wearable device becomes available.

BankMobile's smartwear app will allow customers that purchase an Apple Watch to easily view important banking information such as account balances and transaction history via the wearable accessory. Users will also be able to receive account and security alerts from the bank through the device.

BankMobile intends to revolutionise banking by using big data to anticipate customers' needs and proactively fulfill them. It also aims to build a genuinely satisfying banking experience for its customers with its crowdsourcing campaigns.

BankMobile was launched to provide its target customers - millennials and middle-income households - a digital, effortless, and financially empowering experience.

The bank offers savings, lines of credit, joint accounts and access to over 55,000 surcharge-free ATMs across the US, a guaranteed higher savings rate than any of the top four banks in the nation, a 24-hour personal banker available for all customers, and access to free financial advice.

Its mission looks to establish the business of using innovative technology within banking to help its customers simplify their entire financial life and achieve their personal goals.

"This latest announcement further proves our commitment to being on the cutting edge of technology as we continue to disrupt traditional banking," stated Luvleen Sidhu, Chief Strategy and Marketing Officer, BankMobile. "We are a bank dedicated to our customers and it was because of their crowdsourced feedback that we decided to offer our app on Apple Watch. BankMobile is here to revolutionise the industry and bring it into the digital age."

Established in 2014, BankMobile is a division of Customers Bank based in Wyomissing, PA, with plans to engage in traditional banking through a fully mobile platform on a nationwide scale. Their application is a promising example of how consumer-grade wearable devices can be applicable to the enterprise, and add a new dimension to the user experience for customers.

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Contributor: Robbie Westacott