Well, SoftServe’s Financial Services Lab and the R&D team have made augmented reality (AR) a certain reality for personal finance. Our AR card app allows customers to easily manage their day-to-day financial and shopping activities.
All the required information appears in front of the user’s eyes as they walk through a shop or show particular interest in a product. By recognizing objects, which appear as markers, the AR app is able to display prices and perform transactions. Effectively, it allows a banking or shopping experience that would layer simulated information over physical products.
As consumers are asking for a more convenient and immersive experience from their financial institutions, it is becoming evident from research data that there is a steady rise in the use of wearable AR devices, even more so in the fintech industry.
Use Cases
Flexibility – The app is completely hands-free. A virtual credit card appears in your palm when required, allowing the consumer to securely interact with sensitive data using an intuitive menu.
Seamless baking experience – Through natural gestures consumers are able to check account balances, pay bills on the go, and perform P2P money transfers.
Personalization – Deals and offers can be uncovered and stored as bank customers use their smartphone camera to document real-life surroundings.
Enhanced security – The app replaces the need for physical cards, and hence helps to eradicate:
- Electronic or Manual Credit Card Imprints
- CNP (Card Not Present) Fraud
- “Skimming” Counterfeit Card Fraud
- Lost and Stolen Card Fraud, or Card ID theft
Applications
AR education, AR banking, AR shopping, complex finance operations , digital twins, and financial gamification.