Standard Bank plans to embrace wearable technology by launching an Apple Watch banking app.
In what it claims to be a first for banking in South Africa, Standard Bank said it’s Apple Watch app is currently being tested with pilot users and will be available to the general public by the end of September 2015.
It follows Standard Bank’s recent launch of SA’s first biometric-enabled banking app – giving users access to smartphone banking using Apple’s Touch ID technology.
The first version of Standard Bank’s Apple Watch app will contain a Balance Peek feature, allowing users to check their latest account balances without having to log into Internet banking or their smartphone app.
The new app will be followed by similar roll-outs for Android Wear-enabled watches later in the year, the group said.
Standard Bank said it will continue to work with customers as more people embrace smart watches and other forms of wearable technology.
The bank is already researching smart watch services that allow share trading clients to track indices and shares, see the biggest market movers, and track changes in their share portfolios.
It stressed that privacy and security issues are high on the bank’s agenda.
For this reason, users are able to de-link their Apple Watch from their iPhone, as well as toggle the Balance Peek feature on or off from the main banking app.