With a storm of new wearable computing devices expected to hit this fall, including Apple's iWatch, banks ought to be investing in and experimenting more with the technology, some say.
Wearables lend themselves well to quick banking updates, such as fraud alerts and balance checks, and simple transactions like funds transfers. They're also expected to work well with voice-activated banking, in which customers verbally ask their bank for information or make a simple request, a la Apple's Siri personal assistant. And the devices are gaining popularity — Generator Research projects 8.9 million smart watches will ship worldwide in 2014 and that the number will climb to 214 million in 2018.
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