Future of Banking with Augmented Reality

Future of Banking with Augmented Reality

Devika is excited to be working with Westpac on a product that will help them conceptualize what the future of banking will feel like with holograms through the power of Augmented Reality (AR).

The application was built on the Microsoft Hololens to create an AR banking simulation that can be controlled through hand gestures and voice controls. This demonstration shows that once the hardware is mainstream just how it will serve as a realistic alternative to the browser or mobile phone-based banking use-cases.

This has the potential to revolutionize the banking sector as it would allow the user to do all their banking from checking your bank balance and making deposits to receiving a home loan. With this all being done through a headset.

Obviously, the current price point and mobility of a Microsoft Hololens would not yield the smoothest user experience for day to day banking, but these are the first steps to an exciting new future. The vision that we share with Westpac is that this app will be available for light wear glasses similar in design to Ray Bans or Oakleys think less headset and more Snapchat's Spectacles.

One of the best things about this project is that we get to partner with such an open-minded innovation team at Westpac. Westpac is Australia’s first bank and oldest company. Despite being one of four major banking organizations in Australia it doesn’t let its age hold its back but uses its experience to blaze a path forward.

We feel that thinking about augmented reality when it is already here will be too late for companies to adopt it. The learning curves are steeper than before, and going through that before the technology is mainstream will pay off in the long run.

It is Westpac’s vision to be one of the world’s great service companies and to help their customers, communities, and people to prosper and grow, this is evident in them undergoing a project like this. Using augmented reality to increase the user experience of their customers can be compared to the impact of online banking, and Westpac wants to be on the forefront of bringing that to consumers.

We feel that companies who are looking to build deep and enduring customer relationships will be at the forefront of the customer journey for the next generations of technology and users. We feel Westpac is putting the right foot forward and leading the community which is a vision and value that we share at Devika. It’s our objective to help companies to continue to be innovative and provide the best services and products to their customers.

If you are looking to the future and augmented or virtual reality is on your horizon - feel free to contact us.