{"id":4328,"date":"2017-04-14T07:59:06","date_gmt":"2017-04-14T07:59:06","guid":{"rendered":"https:\/\/insights.invyo.io\/europe\/?p=4328"},"modified":"2019-04-12T17:06:24","modified_gmt":"2019-04-12T17:06:24","slug":"the-coolest-banking-products-for-the-snapchat-generation","status":"publish","type":"post","link":"https:\/\/insights.invyo.io\/europe\/analyses\/the-coolest-banking-products-for-the-snapchat-generation\/","title":{"rendered":"The Coolest Banking Products for the Snapchat Generation"},"content":{"rendered":"

The Snapchat generation is not satisfied anymore by the old methods used by banks to let them\u00a0pay or manage their savings. <\/strong><\/p>\n

The millennials are addressing new challenges to banks to switch from traditional methods to more modern and “hyper-personalized\u201d financial services. As a result, we have seen more and more banking products being created\u00a0to comply with the new generation of digitally savvy people. Here are few examples of\u00a0the services targeting the Snapchat generation:<\/p>\n

Note: feel free to leave\u00a0comments below if you’ve heard of other cool banking products in your country<\/em><\/p>\n

Selfie Banking<\/h3>\n

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Companies like Mastercard\u00a0or\u00a0HSBC now let\u00a0customers take selfies to pay or open bank\u00a0accounts<\/strong>. This selfie security verification technology is an alternative to the classical PIN code or biometrics methods used so far by most banks. Banks are actively working on new kinds of ID recognition in an attempt to eradicate hacking or ID fraud.<\/p>\n

See also:\u00a0IDnow: identification in the digital age<\/strong><\/a><\/h4>\n

Sunglasses Payment<\/h3>\n

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Visa announced few weeks ago that it was running a new pilot program of contactless payment-enabled sunglasses<\/strong>.\u00a0To pay, the user\u00a0takes off the glasses and swipe them on a Visa NFC-enabled terminal, as simple as that. The sunglasses were first released during a festival in Texas and surf competitions in Australia.<\/p>\n

The “Swatch Bellamy”<\/h3>\n

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Swatch and Visa partnered to launch the “Swatch Bellamy”, a wearable watch to do contactless payments<\/strong>. The watch was created in 2016 and first launched in China, Brazil, the US and Switzerland. Compared to its competitors (like the Apple Watch), the “Swatch Bellamy” is not connected to internet for security (and cost) reasons.\u00a0The watch has partnered\u00a0with Union Pay in China and Visa for the rest of the world.<\/p>\n

The Payment Ring<\/h3>\n