10 | The Lion King
W
hat would e-banking
look like in 2035? First,
imagine what technolo-
gy has made possible in banking
now and what will be possible in
about 20 years from today. Most
likely, anyone above 20 years to-
day is the Tomuka of the future.
Already, there are some interest-
ing futuristic things happening in
banking like having a customer
service officer being available
on instant messaging. Develop-
ments in technology present
endless opportunities for e-bank-
ing in future.
How about using your ATM
machines like you use skype
currently with the ability to have
a video chat with your Account
Officer at the nearest bank ATM?
Just click and he or she comes
up on a touch screen built on to
a wall, or even closer, on your
phone, through your installed
bank’s app.
How about contactless pay-
ments with your phone? No more
PINs. All you have to do is pass
e-Banking 2035:
what would
e-banking be like
in 20 years
the phone over the item you are
picking up on a shelf and it is
paid for.
And if you are paying for it
online, just put everything in the
check out bag online and con-
firm payment. No more cards.
Your phone is your authentica-
tion, able to authenticate your
account through your fingerprint
(which already exists in the new
iPhone) and even possibly map
your DNA to ensure you own the
account you paying from.
There will be two versions of
bank customers. The i-gener-
ation bank customers who will
have their bank as an app on
their phones and the “you and
me” the partial i-generation,
that will still love to see the physi-
cal bank branch once in a while.
The purely i-generation will not
want any physical contact with
the bank. For them, banking
will be purely online through,
video chats, instant messaging
and contactless payments and
receipts.
With advances in technologies
like “Google Glass” and similar
technology, mobile banking will
take on a different dimension
with the possibility of having your
transaction history streamed on
a car windscreen even as you
drive while you use advance
voice technology to executive
your transactions.
Also developments in kinetic
technologies (like X-Box One)
will offer new opportunities in
e-banking. While watching TV at
home, you can have your bank
transactions streamed on a split
screen on the TV. By moving
your hands or using voice com-
mands, you can initiate transfers,
order and pay for items, pay
your bills that are due, make an
investment or even terminate a
financial transaction, while still
watching your TV in the comfort
of your living room. While doing
all these, if you need your ac-
count officer to clarify a transac-
tion, you can summon him/her
on your TV through a video chat
to clarify the issue or help you
complete a transaction. Wel-
come to the future.
By Anthony Osae-Brown
