Amazon phone set to ignite mobile banking market

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Amidst mixed reactions and a media storm, Amazon has launched its smartphone.

John Legere, T-mobile USA’s outspoken CEO took to Twitter before the launch to complain

Amazon phone
Amidst mixed reactions and a media storm, Amazon has launched its smartphone.

about press reports that Amazon’s first smartphone, which has just been unveiled in the US will be available exclusively through AT&T.

“Exclusivity sucks for customers. Exclusivity on @ATT sucks for the industry,” Legere wrote in one of a series of Tweets on the subject. “When big (@ATT) and bigger (@Amazon) get together, the industry feels a whole lot smaller.”

On the other side of the pond, 16% of Brits say they will buy the new Amazon phone as soon as they possibly can. The device is set to boost the number of people using mobile banking, as nearly a quarter (24%) believe a 3D mobile banking app that incorporates the device’s new functionalities will encourage them to access their accounts using a smartphone.

Respondents listed a range of ways they would like to use the new smartphone for digital banking:

  • Almost half (48%) would like to use facial recognition as a security feature
  • 22% want to confirm transfers via a body movement
  • 26% are interested in having 3D video calls with their bank, using their new smartphone

“Just a couple of months ahead of the launch of the iPhone 6, could Amazon have pulled the rug out from under Apple and completely changed the game?” says Simon Cadbury, head of strategy and innovation at Intelligent Environments.

“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.

“The device takes yet another step forward for user experience, as physical movements will be a big part of how they interact with the device. Our research shows people are very interested in features like nodding to confirm bank transfers, or tilting the device to switch between bank accounts. Of course, this increased usability will need to be balanced with an additional layer of security to ensure accidents don’t happen. It’s clear these are just the first steps in a 3D mobile banking revolution. We’re now looking at ways to incorporate this functionality into future digital banking apps.”

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