Fast Facts: Student Loans

January 22, 2013
/   Insights

The Financial Services Roundtable recently released another iteration of its Fast Facts, reliable, bullet-point research about issues facing the financial services industry. Topics span TARP, Dodd-Frank, insurance, lending, retirement savings and more.  Below are some updated Fast...

Cause and Effect: If you build it, will they come?

July 23, 2014
/   Spotlight

Many financial institutions assume that digital banking is lucrative because the most valuable customers happen to bank online. While there is certainly a correlation between online bankers and higher profitability, quantitative evidence suggests that...

Intuit 2020 Report: The Future of Financial Services

April 11, 2011
/   Insights

Today, Intuit released the latest edition of the Intuit 2020 report, Intuit 2020 Report: The Future of Financial Services, which identifies and examines four key trend areas that will  transform the financial services industry...

The Top 10 Trends in the Digital Banking Industry

December 18, 2013
/   Spotlight

2014 is rapidly approaching and as the year wraps, the Digital Insight team has pulled together the top 10 trends in the digital banking industry based on data and trends from studying financial institutions....

Small Business: Perception vs. Reality

November 21, 2012
/   Insights

In the most recent election cycle, like most others before it, the one sector of the economy that got the most attention was small business.  This is the future, we were told by every...

Industry Perception, Optical Delusion

January 14, 2013
/   Insights

In Washington, they talk a lot about ‘optics.’ This has nothing to do with regulatory scrutiny, or government mandates on eyeglasses. It has to do with perception—how something looks, the way a particular story...

Social Banking: Blessing or Curse?

August 1, 2012
/   Insights

While the topic of Facebook and banking has generated plenty of heat (though not necessarily a lot of light), the debate seems mostly focused on two broad issues: The much-maligned IPO, and the notion...

Mobile Banking Engagement: Data from Digital Insight

June 24, 2013
/   Spotlight

Intuit Financial Services has been conducting a comprehensive and ongoing study of financial institution customers. From these studies, the company has been able to provide a deeper view of banking customer behavior across several...

In case you missed it, Google released a video last week showing off their new augmented reality glasses. Pretty neat stuff. And now according to American Banker, the glasses can be utilized for financial services.

So far PNC Bank is the only financial institution to offer a use for the augmented reality device — a bank and ATM finder. Pretty handy really, but I am having a hard time seeing how this is much of an improvement over a map on a smartphone or tablet. Do we really need to walk around with a cyborg-like eyepiece and display?

Google should be concentrating on getting Google Wallet off the ground. Launching 10 more Sprint phones supporting Google Wallet at Mobile World Congress was a good start. Previously only the Nexus S 4G offered the required NFC infrastructure. When coupled with the need for retailers to commit to the system as well, the outlook was pretty hazy.

Google did just acquire TxVia, the mobile payments tech company, in theory to shore up the much-criticized security issues hampering the wallet. It’s safe to say Google is not yet ready to abandon the mobile payments ship despite earlier rumors that Google is shelving the project amid all the competition.

And, let’s face it, mobile payments are very popular lately with everyone and their mother trying to get in on the action. PayPal, the incumbent in the online payment space, recently released a card reader aimed at merchants. Called PayPal Here, it was a direct shot across the bow of mobile payments leader Square, and their dongle.

Perhaps some futuristic glasses are just what Google needs to propel them to success in mobile payments. They are creating at least a little buzz in an otherwise dry and jargon-filled market. The glasses actually make a lot of sense in an urban setting, where the real-time information would be most helpful. And let’s be honest, anything would be an improvement over people walking around staring down into their smartphone.

To summarize: we now have a battle royale brewing that includes software, cellphone, banking, and other technology companies; executives bouncing around between competitors; and new players entering the fracas (Tappmo, founded by ex-Google Wallet engineers, to name one).

By the time this is posted the landscape will most likely have shifted again. Don’t forget about Facebook either. They’ve been mentioned on this blog before as another army in the payment war.

It will be interesting to see what partnerships are formed to try to gain an upper-hand in this scrum.

No one knows how long the mobile payments war will drag out and who will be left standing. Or, if they will use augmented reality glasses, a dongle, a camera or some other newfangled, yet to be invented, device to dominate the mobile payments market.

As it stands right now, I’ll take augmented reality glasses over another dongle any day.

About David Sutton: David has a BA in economics and a MS in business journalism, and his articles have appeared on Forbes.com and in the Boston Business Journal. David has had a bank account since he was three.

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James W. Gabberty

Gabberty is a professor of information systems at Pace University in New York City. An alumnus of the Massachusetts Institute of Technology and New York University Polytechnic Institute, he has served as an expert witness in telecommunication and information security at the federal and state levels and holds numerous certifications from SANS & ISACA.

Marisa Mann

Marisa Mann brings over 15 years of experience in consulting and financial services industries to the Solstice team, working on large scale enterprise initiatives across many technologies, including specializing in the digital space – Internet and mobile. Mann is passionate about mobile and the endless possibilities for the enterprise, delivering business value through strong brand recognition and driving to excellence in the consumer experience. Prior to Solstice, Mann worked at JP Morgan Chase, Diamond Management and Technology Consultants, Washington Mutual, Inc, and Accenture.

Zachary Ehrlich

25-year-old writer, and as a native San Franciscan, I am unreasonably loyal to Bank of America, if only for their superhero-like origin story, involving the 1906 earthquake and Italian fruit vendors.

Brad Strothkamp

http://www.forrester.com/rb/analyst/brad_strothkamp