BEAVERCREEK, Ohio—Wright-Patt Credit Union has released Android smartwatch functionality, saying it is seeking to be where many members may well be heading with mobility.
The app, which currently allows members to check their balances, was developed in conjunction with Digital Insight, the Redwood City, Calif.-based unit of NCR.
“We serve a wide spectrum of members across the globe,” said Joel Huxley, director of retail support at the $3.1-billion Wright-Patt. “We are pleased with the utilization of the new smartwatch capability so far.”
The CU says it has a close eye on market adoption for the new tech and is strategically making decisions based on member behavior. Analysts have stated that supporting wearable tech is a very FI specific decision, based on the goals of the organization and needs of the members or customers.
“Our goal is to be available where our members want to use us,” said Huxley. “We see wearables as an extension of the smartphone with the potential to gain major adoption among a wide range of our members.”
Watch Syncs With Phone
Huxley pointed out that the Android Wear smartwatch synchs with an Android phone (minimum OS version 4.3). The CU’s members must download to their phone the most recent version of WPCU’s mobile app, found in the Google Play Store.
“An Android watch is synched via Bluetooth with an Android phone,” explained Huxley. “Once a ‘pair’ is made, the watch automatically accesses all apps on the Android phone that are compatible with the watch. End users touch the apps on the watch to access their capabilities.”
Huxley reminded that the watch must remain in range of the phone to move data, essentially “tethering” the two together. Reports indicate, however, that updates to the Android smartwatch will include accessing Wi-Fi networks.
In piloting the smartwatch app, Wright-Patt is beginning with offering members access only to “low-risk” information—a “quick balance” feature. Using their voice, users can initiate viewing their account balances without logging in on the phone.
“If we decide to offer other features in the future, we will make decisions based on what additional authentications need to be in place to ensure we protect our members’ information,” said Huxley.
What will be offered down the road will be decided by members.
“We’re obtaining member feedback to help us shape the future of the wearables experience,” said Huxley. “One potential idea is to offer functionality that allows our members to receive actionable alerts. For example, your smartwatch may alert you of a low checking account balance and offer to transfer funds from your savings with a couple of quick taps on the screen.”
Javelin Strategy & Research is forecasting that by 2019 52% of online U.S. adults will receive an e-mail, text, or push notification alert, compared with 40% today. Push notifications are fueling this trend – and Javelin expects they will supplant text alerts as the No. 2 form of financial alert.
Apple Pay On Horizon
Wright-Patt’s foray into wearable mobile payments, however, will likely begin through Apple. Huxley indicated that Wright-Patt will offer Apple Pay, and is currently monitoring the new payments solution’s initial success.
“WPCU has started investigating the process that’s required for us to offer Apple Pay to our members. We are also currently monitoring consumer experiences with other financial institutions offering Apple Pay. When we enroll in Apple Pay, our plan is to support both the iPhone and Apple Watch platforms.”
Huxley added that supporting a smartwatch today differentiates the credit union.
“While we are one of the first to offer this solution, others will soon follow,” he said.
Alabama Teachers CU in Gadsen, Ala., and Greater TEXAS FCU and its division, Aggieland CU, in Austin, Texas, have launched a SmartwearApps for the Apple Watch