Misys is the latest firm to prepare for next month’s launch of the Apple Watch. The financial software company said that it has created an app “to provide services to their customers in an entirely new way, providing consumers with new levels of customer service and experience.”
Its app, named Misys FusionBanking Essence BankTime, is “designed to give consumers greater control and clarity of their personal finances”. Misys has used Apple’s ‘Glance’ feature – a Glance is a quick view of the app’s most important content – to showcase the Comfort Zone display, which shows a consumer’s available balance.
Users can rapidly drill down to get more details of balance, history and all transactions via the smartwatch. The banking app encourages consumers to execute transactions directly from the Apple Watch, for example paying for a bill in a restaurant. Voice command and traditional swipe and tap control enables consumers to interact with the app in whatever way they want.
Misys adds that the new communication channel means consumers will never miss a notification from their bank, such as a fraud alert, a special offer or an appointment reminder. “Our ambition at Misys Labs is to bring financial services into consumers’ everyday lives”, said Tamás Grünzweig, head of innovation at Misys.
There are various ways for financial institutions to benefit from advanced technologies and business models provided by FinTech's. Whether a business' approach is radical or incremental, data management can help a company to increase their return on investment, argues André Casterman, INTIX.
Due to the low interest rate environment and Basel III regulation many corporate treasurers, who may have in the past been very reliant on the banking sector to provide them with cash management solutions, have been forced to explore alternative options as banks have been refusing short dated cash deposits.
Apps are a critical part of treasury's shift into mobile banking as 67% of treasury and corporate finance professionals said mobile banking services are of particular interest to them in a recent survey.
Using data for predictive analytics is the future of banking success, argued Jean-Laurent Bonnafé, CEO of BNP Paribas, in his session on how the bank is reinventing its approach to innovate with and for corporates.