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How can wearable devices be used to promote and track both physical and financial health?

Aadhithya by Aadhithya
April 28, 2021 - Updated On May 11, 2021
in Expired
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How can wearable devices be used to promote and track both physical and financial health?
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A bank wants to make their customers lives better by helping them to achieve both their financial health and physical health goals by offering a differentiated digital experience. The bank needs your help to develop a concept that they could bring to market which would ideally include wearable technology.

Please propose a product/service concept idea by answering the following questions:

  1. Do you currently have a wearable device (such as fit bit, apple watch, Samsung watch, etc.) Yes or No
  2. If yes, which one (brand)?
  3. Both physical and financial health are important. In what way(s) might the bank support its customers with their financial health and physical health goals?
  4. How can the bank use wearable technology specifically to support its customers financial & physical health goals? (Consider the potential data available, ability to send notifications, and other features enabled by wearable devices)
  5. What rewards could the bank provide to incentivize its customers to achieve their goals? How would these goals be tracked?
  6. Would you use a wearable device to conduct your banking? Please explain.
  7. Which banking tasks/services would you use your wearable device for specifically? (e.g transaction notifications, transfers, etc.)
  8. Which company should the bank partner with for this concept? Be specific giving the company name and why they would be a good partner.
Submissions will be graded on the following criteria:

  • 1-10 Scale

Awards:- $1,000

Deadline:- 11-05-2021

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Aadhithya

Aadhithya

Serial inventor & innovator with an exemplary track record for problem solving with a diverse skill set. Won 50+ Global innovation awards with innovative technical solutions till date. Currently working on inspiring the next generation of innovators by making innovation opportunities and challenges accessible to people across the world as founder of Givemechallenge.com

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