EVOLUTION OF BANKING
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THE LATEST INNOVATIONS<br />
3D printing<br />
What is it? – 3D printing could become<br />
a mass market item because domestic<br />
3D printers can offset their capital costs<br />
by enabling consumers to avoid costs<br />
associated with purchasing common<br />
household objects. They could also<br />
unleash a new wave of creative thinking<br />
and business opportunities as they allow<br />
people to prototype and design ideas at<br />
home. The biggest impact in banking<br />
in the short term is likely to be through<br />
fraud.<br />
Wearable tech<br />
What is it? – Technology that we wear<br />
will become more common place from<br />
watches, exoskeletons frames which<br />
help mobility of the elderly and disabled<br />
to google glass. Turkish bank TEB has<br />
developed a Google Glass © app, enabling<br />
wearers to find ATMs and branches and<br />
track credit card campaigns. The bank<br />
estimates that 50 million wearable tech<br />
devices will be sold this year, rising to 500<br />
million in 2018.<br />
Natural Language Interface<br />
What is it? – It’s a voice driven interface<br />
technology like Apple’s Siri on an<br />
iPhone or IBM’s Watson TM , designed to<br />
help navigate sites or answer questions<br />
asked in natural language and to make<br />
judgments by drawing on a vast body<br />
of data which it then applies machine<br />
learning too, to improve the accuracy<br />
of its responses. It could be advising<br />
customers on mortgages or picking<br />
stocks in the near future.<br />
Apple, the Apple logo, Siri and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. © 2012 Google Inc. All rights reserved. Google and the Google Logo and Google Helpouts<br />
are registered trademarks of Google Inc. IBM’s Watson TM is a registered trademark of Business Machines Corp., registered in many jurisdictions worldwide.<br />
44 | The Evolution of Banking and Financial Services
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