This week MyPrivateBanking Research releases the first comprehensive report on banking apps of the largest retail banks worldwide that run on the Apple Watch.
The report shows that the market for wearables will substantially benefit from the launch of the Apple Watch as it continues to grow to over $ 12 billion by 2018. The implication for banks is obvious: as the market penetration of smartwatches is increasing, the demand for banking apps that run on these devices will increase at the same rate. Actually, many banks are adopting this technology already today: The MyPrivateBanking report evaluates 23 Apple Watch apps of 22 banks and compares their overall performance. The evaluation comes to the conclusion that today’s Apple Watch banking apps are mainly providing only very basic features lacking the capability to excite clients. Outstanding examples from other industries and comprehensive strategic recommendations complete the study.
Watch out for our concise guidelines helping banks to take the right steps towards a winning Apple Watch app.