Banking Solutions
Banking in 2021
Banking in the 21st century is no longer limited to just money transactions. Today, customers expect a superior and seamless banking experience aided by technology. With the emergence of multiple fin-tech startups and leading tech companies entering the world of banking and finance, the pressure on traditional banks to transform banking experience is on an all-time high.
Key Trends affecting Banking in 2021
Rise of Millennials
One of the leading causes of this paradigm shift in expectations from banking is the rise of millennial banking. For example, in India, millennials form 47% of the working force and prefer to engage with banking very differently than previous generations. Banks need to alter their approach and strive towards offering a fast and simplified customer experience with minimum fuss to engage with this digitally savvy generation of banking users.
Challenges in Transformation
Transformation of banking is easier said than done. Multiple stakeholders, regulatory hurdles, siloed structures are a few factors that make it challenging to adopt new technology on a big scale in the banking sector. This inability to respond faster to technological innovations means that traditional banks lag far behind new-age startups and tech behemoths like Google or Apple when it comes to offering superior customer experience through technology.
The Emergence of Augmented Reality
The emergence and the growing potential of Immersive Technologies like Augmented Reality and Mixed Reality offer a golden opportunity to banks to transform the customer experience without facing complex hurdles. This is due to the explosive growth of mobile AR solutions that don't require any additional hardware to experience immersive technology.
In 2018 alone, the number of Android devices with AR capability rose to 250 million from 100 million whereas 380 million iPhones got equipped with AR tech in the same period. AR integration with millions of smartphones is set to further grow exponentially in 2019. Furthermore, the massive popularity and worldwide success of Pokémon Go, Snapchat filters, & Ikea AR app have already made consumers familiar and eager to engage with similar interactive experiences through their smartphones.
Transforming Banking with Immersive Technology
WOWSOME Suite of Mobile AR & Immersive Banking solutions aim to solve the most pressing issues in customer experience prevalent in traditional retail banking today. Our solutions fit into your current workflow and can be integrated with various mediums without any need of extra hardware.
Credit and debit cards as gateways to digital immersive experiences
Power your existing physical cards with augmented reality to offer value-added information through a simple scan with a smartphone
Location-based immersive banking experience powered by geo-AR
Imagine your customer in a new city or an unfamiliar area looking to find services connected to their banking account. All they need to do is to pick their smartphone and scan the area for overlaid AR content in their surroundings
State-of-the-art Banking Experience With Vision Data Insights
Track customer behavior and emotions at physical touchpoints like ATMs and bank branches with the help of face-recognition and artificial intelligence technology
Boost Your Marketing Efforts with Immersive Engagements
Promote your banking offers and services through interactive experiences on different mediums
With our interactive banking solutions, you gain a number of benefits and pave way for technological innovation in your bank
Offer a unique & innovative banking experience
Improve customer experience & satisfaction
Incorporate new technology in a hassle-free manner
Establish yourself as a thought-leader and pioneer
To know more and discuss customized AR solutions for your bank, get in touch with us now.
