Spain’s CaxiaBank, the countried third largest bank by assets, has announced the launch of banking applications for smartwatches and Google Glass.

While the smartwatch can currently only be used to choose and follow stocks on international markets the Google Glass app adapts two of the most frequently used mobile banking services on mobile: a branch finder and a currency convertor.

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The branch finder feature of the app will make use of augmented reality.

Google Glass users will see, superimposed on the screen, the direction they need to travel, how far away it is and the branch telephone number.

If users say a location or an address Google Glass will display all the branches nearest to that point.

The currency converter automatically converts prices when the user focuses the glasses on a product’s price tag.

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The equivalent amount will appear superimposed on the screen using augmented reality. The service allows users to choose from a global currencies.

The Google Glass app will become available once Google officially opens the Google Glass application market in the US.
The smartwatch app is currently only available on the Sony Smartwatch 2.

The effect that these devices will have on both the technology and banking industry is still wildly speculative with industry weathervane Apple remaining on the sideline of the wearable tech market.

Industry expert and mobile and digital consultant Michael Nuciforo said: "La Caixa have a proven API strategy that allows them to develop new products quickly. These services represent new interfaces into existing mobile banking API’s and as screen sizes and form factors proliferate, La Caixa will continue to be able to take advantage of this. These same API’s could easily be used for a smart fridge, TV or car."

The smartwatch service is included in the latest update for the Bolsa Abierta application for Android provided by CaixaBank. It can now be downloaded for free via Google Play or the CaixaBank app store, CaixaMóvil Store.

In November UK software company Intelligent Environements (IE) launched the worlds first full mobile banking app.

The Interact smartwatch app from IE is designed for use on the Pebble smartwatch.

The app allows users to view their live bank balance, recent transactions and will vibrate when near the user’s overdraft limit.

 

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