Big Banks Will Vie For Your Attention With Cardless ATMs and VR

Posted by timothy on Tuesday December 2, 2014 @04:54AM from the lower-fees-would-be-a-real-draw dept.

tedlistens writes In the year that bitcoin began to grow up and Apple Pay was born—and massive cyberattacks—the country's largest financial institutions want you to imagine themselves as incubators. Three of the big banks opened up innovation labs to imagine what's next in mobile banking; some are starting their own accelerators. Meanwhile, the latest research estimates that U.S. mobile payments, currently at $3.7 billion, will grow to $142 billion within five years. Now an industry not exactly known for speed is approaching 2015 with an ethos that sounds more Silicon Valley than Wall Street, touting visions of fridges that shop for you, Google Glass and Oculus Rifts, and the kind of futuristic security they hope will inspire consumers to trust them and their technology in the first place. I like that both a local book shop, and the coffeehouse nearest my house, have bitcoin kiosks.

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Re: an industry not exactly known for speed by ShanghaiBill · 2014-12-02 05:56 · Score: 3, Informative

Get a new bank. My transfers are available to me immediately.
It depends a lot on where you live. In America, a money transfer from one bank to another can take days to clear. In China, I am able to do it in seconds.