Banking software supplier Misys launches Apple Watch app prototype

Finance software house Misys launches a prototype banking app for the Apple Watch that will be available off-the-shelf

Finance software house Misys has launched a prototype banking app for the Apple Watch that will be available off-the-shelf.

Banks are showing an appetite for smartwatch apps and Misys has created a prototype app for the Apple Watch.

Some finance firms are already working on Apple Watch apps, but this is an early example of off-the-shelf software for Apple Watch, that any finance firm can offer customers.

The Misys FusionBanking Essence BankTime app uses Apple’s Glance feature, which provides the user with the most relevant information quickly. It will feature voice command, as well as swipe and tap controls.

“Our ambition at Misys Labs is to bring financial services into consumers’ everyday lives”, said Tamás Grünzweig, head of innovation at Misys. “We focus on making banking relevant and frustration-free. Wearable devices, like the Apple Watch, bring a new, more convenient channel for consumers.”

Read more about Apple Watch apps

Channel for geo-targeted offers

Misys said the app opens a communication channel for the bank to send notifications to customers, such as special offers or security warnings. “It opens up a new level of contextual marketing for banks, and offers services based on a customer’s location,” said Grünzweig.

Financial services firms – including Nationwide Building Society and Citi – have already launched mobile apps for smartwatches and Allied Irish Bank has one in development.

Smartwatches are predicted to see significant take-up by consumers. Forrester research found 21% of adults in Europe are tired of pulling their phones from their pockets; and 32% said they were intrigued by the prospect of getting a wearable device – with 36% saying the wrist is where they would prefer to wear it. 

The Apple App Store listed over 30 apps for the Apple Watch only a day after Apple confirmed the device would go on sale from 24 April 2015.

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