As its name suggests, this platform simplifies the user experience by stripping mobile banking of its clumsiness—a corporate mission inspired by CEO Josh Reich’s own personal banking nightmare
. Those who acquire an invite to the pre-launch app can expect a clean interface, jargon-free language, and many useful features. Real-time
transaction tracking prevents accidental overdrafts, a prominent Safe-to-Spend balance provides a trustworthy accounting of available funds, and automatic geo-location (more often put to social use
) helps users identify points of purchase. Not its own bank
, Simple will rely on bank partners to hold clients’ cash, but the platform will provide a strong foundation for its users’ financial lives.
Somewhat less simple than, well, Simple
is software firm Etronika
’s new Kinect-enabled banking interface. After Microsoft made its Kinect software development kit
available to the public—a nod to the many ingenious hacks
that came to light after Kinect’s release—Etronika used it to transform the dull, depressing practice of money management into something fun. The resulting motion-activated interface responds to users’ waves and claps to manage accounts and select functions. There still may be a few logistical difficulties (in this video demo
, a dog controls the interface with its tail—not ideal), but a kink-free version could ultimately free users from the financial doldrums.
With the rise of near-field communication
(NFC) technology, mobile payment platforms
are evolving from novelty into necessity. To demonstrate its dedication to mobile banking and Gen Ys’ on-the-go sensibility, Commonwealth Bank of Australia
is set to release a branded, iOS-only, NFC payment app, called Kaching
. The app will allow iPhone users to transfer money to friends via mobile device, Facebook, or email, and pay for goods at any location where PayPass
is accepted. To combat a lack of universal NFC capability, Commonwealth plans to release an NFC-enabled phone case (price to be determined). Interested iPhone owners can register here
to be notified when the app and case become available.