In August 2017, Fitbit introduced Fitbit Pay alongside its Ionic smartwatch. Three days later, Garmin followed suit with Garmin Pay, which it announced with its Vívoactive 3 smartwatch. Fitbit Pay and Garmin Pay allow smartwatch owners to access their checking accounts via their smartwatches for in-store purchases. Since the introduction of these payment services, seven […]
As part of the John Hancock Vitality Program’s innovative rewards program, clients with a Vitality life insurance product can earn a discounted Apple Watch. This option combines an attractive reward with a compelling incentive for physical activity. Clients who are part of the Vitality program can purchase a watch with monthly payments after an initial […]
The March 2016 issue of Consulting Insights is now available! Our feature article shares some of the findings from our study Next-Generation Investing 2015: Digital Advice Matures on activity of incumbent investment firms in the digital advice space. We explore the latest trends in mobile finance innovation. We profile the HENRY (“high earners no rich […]
Humana steps into the wearables space with its new Cue app, compatible with Apple devices operating on iOS 8.2 or higher as well as the Apple Watch. Since the induction of Apple Health last fall, the release of health- and fitness-related apps has rapidly escalated. Tech enthusiasts have been speculating for some time whether the […]
After months of anticipation, the first Apple Watches reached consumers’ hands (and wrists) this past week. Discussing the outlook for wearable tech in the past, we’ve pointed out, “The launch of an Apple-branded smartwatch may be the catalyst needed to spur smartwatch app development by major financial services firms.” That prediction turned out to be […]
By now, there has been plenty of reporting and analysis on Google’s announcement that it is closing the Google Glass Explorer Program and discontinuing sales. While Microsoft HoloLens may reignite interest in similar augmented reality technology, a new wearable tech model has taken over the headlines in recent months: smartwatches.
- Wearable Tech
Moven recently announced a new smartwatch-optimized app specifically for Motorola and Samsung smartwatches. The watch is used for personal finance management, allowing customers to follow their own personal budgets.
Wearable tech is generating a lot of buzz on the heels of Apple’s recent Watch announcement, but the truth is, the wearables movement isn’t exactly breaking news. The Pebble smartwatchhas been on the market for years, and Google’s Android Wear has been up and running since mid-2014. The financial services industry has yet to embrace the smartwatch concept, however. While firms like Wells Fargo and Discover have unveiled beta versions of Google Glassware, few major financial institutions have publicly expressed interest in developing products for the budding smartwatch market. To date, Fidelity’s “Watchapp” for Pebble represents the sole smart-watch app released by a major U.S. retail bank or brokerage firm. This may be about to change.
Since the release of the iPhone in 2007 and iPad in 2010, mobile banking and investing have become nearly ubiquitous, leaving many to wonder what the next ground-breaking device might be. As we’ve written about before, most financial services firms are yet to fully embrace the latest wearable technology, but are very interested in discovering how they could leverage those high-tech products to meet client needs in the future. While Google Glass has grabbed the most headlines, wearables come in many more forms, with smartwatches another popular approach. Recently, financial services firms around the world have unveiled their first concepts for smartwatch investing apps.
- Wearable Tech
With the long-rumored commercial release date for Google Glass fast approaching, we’ve recently seen an uptick in activity from financial services firms keen on keeping pace with the wearable technology curve. Nearly six months after Fidelity made headlines by being the first major brokerage to unveil investing-oriented Glassware (“Glassware” is the term used to describe an app explicitly designed for Google Glass), Discover and Wells Fargo have each launched their own Glassware, making the firms the first credit card issuer and bank, respectively, to make a public foray in the wearable tech space.
- Wearable Tech