Amazon smartphone could increase mobile banking usage

  • Posted by Talking Payments
  • June 20, 2014 1:03:18 PM BST
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The launch of Amazon’s first smartphone has the potential to increase the uptake of mobile banking in the UK, says new research.

The handset, called the ‘Fire’, was unveiled in Seattle this week, and includes  a 3D interface that will significantly improve any imagery displayed on the screen. Gesture controls and facial recognition are also included in its list of capabilities.

And it’s these technical developments that seem to have stirred some excitement in the UK, with a study by software provider Intelligent Environments revealing that 16% of Brits hope to buy the device “as soon as they can.” Additionally, of the 2,000 consumers that took part in the survey, a quarter claimed its 3D functionalities would encourage them to use mobile banking more regularly, believing that its features would significantly up the level of security when interacting with their bank. In fact, half of the respondents would like to use facial recognition as a security feature, while over a quarter want to be able to have 3D video calls with their bank using the smartphone.

Simon Cadbury, head of strategy and innovation at Intelligent Environments, explained: “The consumer appetite for 3D smartphones is clearly very strong, and these findings show that banks need to start incorporating the functionality of Amazon’s new smartphone in their mobile banking apps.

The 3D screen isn’t the only exciting feature for digital banking customers. As the device uses four cameras to monitor the position of and project to both of the user’s eyes, new security measures like facial recognition are entirely possible, functionality that our research shows will be extremely popular with digital banking customers,” he added.

The Fire will be available in the US from 25th July, and is expected to launch in European markets six months later.