Gartner Research

Bank CIOs Need Real-World Customer Use Cases for Wearable Banking Apps

Published: 11 December 2014

ID: G00271552

Analyst(s): Stessa Cohen

Summary

Wearable devices show real promise in many areas of business, including banking. But bank CIOs must ensure that any wearable projects they invest in address worthwhile use cases that not only motivate customers to use them, but also deliver real value to the bank.

Table Of Contents
  • Key Challenges

Introduction

Analysis

  • Develop a Strategy That Integrates Wearable Devices With Established Digital Banking and Mobile Financial Services Strategies
  • Identify Realistic Use Cases That Allow Technologically Advanced Customers to Use Their Wearables for Banking Activities Now, and Create a Development Path for Innovative Future Services
  • Consider Delaying Wearable Implementations Until Device Adoption and Security Mechanisms Support Valid Use Cases

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