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    Beacon Technology: Project Beacon by Google

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    GOLDEN FIZZIK GYM
    Beacon technology uses small Bluetooth devices to provide location-based information and services to smartphones. Banks can use beacon technology to improve customer experiences - for example, customers could receive welcome messages or customized offers when entering a branch. Google has also launched a program called Project Beacon to help businesses promote their locations using beacon technology. Wearable devices offer similar opportunities for banks to interact with customers and provide personalized services, such as monitoring financial health from a smartwatch app. As wearable technology grows in popularity, banks are exploring ways to facilitate transactions and payments through these new devices.

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    Beacon Technology: Project Beacon by Google

    Uploaded by

    GOLDEN FIZZIK GYM
    33 views2 pages
    Beacon technology uses small Bluetooth devices to provide location-based information and services to smartphones. Banks can use beacon technology to improve customer experiences - for example, customers could receive welcome messages or customized offers when entering a branch. Google has also launched a program called Project Beacon to help businesses promote their locations using beacon technology. Wearable devices offer similar opportunities for banks to interact with customers and provide personalized services, such as monitoring financial health from a smartwatch app. As wearable technology grows in popularity, banks are exploring ways to facilitate transactions and payments through these new devices.

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    Beacon Technology

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    Beacon technology uses small Bluetooth devices to provide location-based information and services to smartphones. Banks can use beacon technology to improve customer experiences - for example, customers could receive welcome messages or customized offers when entering a branch. Google has also launched a program called Project Beacon to help businesses promote their locations using beacon technology. Wearable devices offer similar opportunities for banks to interact with customers and provide personalized services, such as monitoring financial health from a smartwatch app. As wearable technology grows in popularity, banks are exploring ways to facilitate transactions and payments through these new devices.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    33 views2 pages

    Beacon Technology: Project Beacon by Google

    Uploaded by

    GOLDEN FIZZIK GYM
    Beacon technology uses small Bluetooth devices to provide location-based information and services to smartphones. Banks can use beacon technology to improve customer experiences - for example, customers could receive welcome messages or customized offers when entering a branch. Google has also launched a program called Project Beacon to help businesses promote their locations using beacon technology. Wearable devices offer similar opportunities for banks to interact with customers and provide personalized services, such as monitoring financial health from a smartwatch app. As wearable technology grows in popularity, banks are exploring ways to facilitate transactions and payments through these new devices.

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    Beacon Technology

    Beacon are small, inexpensive device that works with Bluetooth technology and smartphones
    to create way of providing location based information and services.

    How banks can utilize Beacon


    By using beacon technology, it will help banks to work more efficiently and bridges the gap
    between traditional banking. If user is having mobile banking app and beacon is installed in the
    branch as soon as they enter the branch they will receive a message to select the service they
    require. It can also send welcome messages to users who have entered the branch. Customers
    can also receive coupons and scratch cards on smart phone.
    For example:- star bucks uses beacon technology for its mobile payments, rewards and even to
    say what song they are playing in the store.
    Project beacon by Google
    Google recently launched a new program called project Beacon. As a part of the program
    Google is sending beacons for free to businesses with physical location in effort to make there
    business more visible.
    Beacon in banking
    As soon as the customer enters the branch he will receive a welcome message. It can detect the
    custoumers presence. With the help of beacon wishes can be send and personalized financial
    offers. It can be used to run surveys and studied to understand the trends and interest of the
    customers.

    Wearable in banking technology


    Wearable technology will give banks access a new array of customers. consider wearable fitness
    devices which monitor the wearers movements, location and activity level to advise users.
    Similarly, banks can leverage the technology to become their 24/7 personal banker.
    Wearable technology offers banks with wholly new ways to interact with and inform customers
    and help them understand their financial needs, before they even realize them. Just as smart
    watches help monitor physical health, banks should innovate their smart watch apps to help
    monitor financial health, and improve the in-bank experience.
    Current smart watch banking applications enable a range of common features including one
    touch login access, real-time account balance monitoring, alerts/notifications. Bill payments
    and purchases can be executed through mobile wallet and smart watches.
    Innovative services for consumers
    Many financial institutions, especially banks, have been working to create better experiences
    for their customers. There are many things that have changed over the years, but mobile has
    been one of the biggest. Consumers have come to expect mobile services like mobile banking,
    bill pay, and other related services. In their quest to give customers innovation they have
    started to move past mobile devices like phones and tablets to wearables.
    Wearables in banking
    Demand for wearables continues to grow as consumers embrace opportunities for faster, more
    frictionless transactions. As these devices have become increasingly popular, users have come
    to expect a seamless experience—they want their wearables to house the tools they need to
    manage not only their fitness efforts and their fashion choices but also their financial lives.
    It’s not surprising that retail banks are exploring potential uses for wearables in banking
    whether that's facilitating transactions and payments or creating entirely new classes of
    customer experiences. The progression from the investment in smartphone-based services is
    logical, but unlike smartphones, wearables come in all shapes and sizes.

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