Author: Amanda Giasson

Augmented reality banking app to be launched by Westpac

| August 6, 2014

The financial institution intends to release the first 3D banking app in the world this September.

The new smartphone app uses augmented reality technology to assist customers in locating the closest branch or ATM, shows transactions, account balances, and spending locations, all of which is displayed in three dimensions, and Westpac New Zealand (NZ) hopes that the app will help customers gain better control over their credit card spending.

The app was the concept that took the top spot in The Westpac Global App Challenge in the UK.

The application utilizes the smartphone camera, which scans a consumer’s debit or credit card. After scanning, it instantly generates a 3D visual representation that is equipped with bar charts to show the user the amount of money that was spent in different categories, for instance, utilities, food, travel, etc. It also sums up loyalty points, allows the customer to make on the spot payments and flags the number of days that are left before a bill is due.

The unnamed rocket scientist, who developed the application, has a side business of building apps. Simon Pomeroy, the chief digital officer at Westpac NZ, said of the challenge winner that “His job is in innovation. He spends his time thinking about apps and saw the ability to create one he’d use himself. He was just really blown away by the fact that he could enter something online and have it taken to this level.”

Augmented reality technology takes mobile banking to another level.

Augmented reality - mobile banking appPomeroy said that after seeing the concept for the app, it became clear the impact AR tech can have in terms of “adding a new dimension to mobile banking.” He also noted that one of the important features of the app is its ability to find ATMs that were part of the ATM Global Alliance around the globe that could be used by Westpac customers free of charge.

Pomeroy stated that Westpac customers are constantly asking the company for quicker and more convenient ways to conduct their banking. What Westpac feels the app will accomplish is it can bring everyday banking to life in a visually appealing way that is easy to use. It will take daily banking to a whole new level.

The new augmented reality app will be released for iOS in September. Westpac said that there will also be an app released for Android mobile devices, which will come out later this year.

Augmented reality glasses patent filed by Microsoft

| July 29, 2014

Microsoft takes a big step toward the wearable glasses market.

Recently, the computer software and electronics company acquired a patent for object-recognizing augmented reality glasses from Osterhout Design Group, a deal worth $150 million.

The smart glasses equipped with this technology could result in people interacting with their environment in a whole new way.

More specifically, the patent for which Microsoft filed is an application called “Wearable Behavior-based Vision System”. The wearable device that could result from this technology may be smart glasses that look like large sunglasses, which could enhance how the wearer interacts with his or her environment.

For instance, if the wearer was crossing the street and a vehicle happened to be approaching at a fast speed, the glasses would warn the wearer if the vehicle was perceived as a threat. In addition to this function, allegedly, the smart glasses could combine the real world with the virtual world. Thus, if the wearer were playing a game using the glasses, for example, and he or she were walking around their home, the glasses will incorporate objects from the real world (ex. furniture) with objects from the game (virtual world).

Rumors about Microsoft developing augmented reality glasses are nothing new.

microsoft - augmented reality glasses patentSince November 2012, there have been rumors circulating about Microsoft working on some form of wearable tech involving glasses. However, by securing this patent, it does seem that the company is serious about entering the wearables space.

On the other hand, simply because a company files for a patent, this does not necessarily mean it will use the technology as has been rumored. Until Microsoft officially releases information regarding what it plans to do with the application, there still is no solid evidence to back the old rumors. After all, it is quite possible that the massive corporation may only be building a prototype device that they have no intention of releasing to the market or at least not for several years down the road.

That being said, if it turns out that Microsoft does create object-recognizing augmented reality glasses, it would produce a smart glass device equipped with unique features that Google Glass would lack.