Saturday, 23 September 2017

Information and commentary for the small business banking industry

Why augmented reality will remove the need for bank branches forever

16 Sep

There is a lot of talk about banks closing branches, especially in smaller towns.

Guess what? In the future there won’t be any branches at all.

So if you are a customer facing bank manager, or anyone working in a branch, best to find a new career and don’t encourage your kids.

Westpac in New Zealand released a 3D augmented reality experience for credit cards.

In 2014…..

Things have moved on in 2016; have a look at this demo by James Mackie.

And even more incredible, see what Magic Leap are doing in the US (they have a partnership with Weta Workshop who created the special effects for The Lord of the Rings and The Hobbit). The Untold Story of Magic Leap, the World’s Most Secretive Startup.

What are the implications?

Once augmented reality headsets are free (or under $10, and they will be eventually), you will be able to ‘walk in’ to a branch anywhere you happen to be, talk to a specialist banker, interact with all parts of the bank, and access advice, opportunities and small business community without needing to park your driverless car.

If you feel that you’d still rather see a real live person then fair enough. But your kids or grandkids won’t.


GSCirc

Glen Senior
Glen is the founder and CEO of The Small Business Company, a New Zealand based agency that specialises in helping banks communicate with small businesses through content marketing. He has written a number of books on small business principles and is a sought after consultant and conference presenter.

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