This is one of those moments in technology which takes everyone by surprise, and when we immediately start looking for ways to apply its learning in our profession.
I have to say that I never anticipated seeing the words 'Pokémon', 'banking' and 'financial advice' all in the same sentence, yet here it is and we're already trying to figure out ways to utilise the augmented reality gaming phenomenon.
I recall saying when Foursquare first appeared in 2009 that geo-location apps would become part of how consumers find, assess and refer professional service providers. Foursquare has evolved since then, but geo-location tools are here to stay.
Whilst IFAs and financial advisers will doubtless struggle to see how Pokémon-style gaming apps might impact their profession anytime soon, this article gives some fascinating insights as to how this stuff works and how it might apply to the financial services industry.
And note, Pokémon GO is also hugely popular with baby boomers too!
To date, banking has only modestly embraced augmented reality (AR), which fuses digital technology with the physical world. Some organizations have used mapping overlays for mobile branch and ATM finders. Some financial institutions have also used AR for sophisticated mortgage apps, where a consumer can see the location of houses for sale in a neighborhood and automatically get downloads of house details and financing options. The challenge in both of these use cases is awareness and usage.