Banks wave hello to gaming technology

November 3, 2011

A new banking application is set to be launched which will revolutionise the way in which customers look after their finances and bring the industry bang up to date with the latest technology. 

The banking sector has come under fire for failing to make the most of modern technology, instead sticking to prehistoric processes, despite dissatisfaction from customers.

However, that is all set to change with a new tool set to hit the markets in the very near future.

A Lithuanian firm are working on a release which would allow banking customers to use their Microsoft Xbox 360 games console to move money and complete banking transactions, an innovative idea which has caught the imagination of users.

Using a games console may sound like a great idea but not necessarily very ground-breaking – until you hear the news that it is the Kinect technology that the firm is planning to use.

Kinect is one of the new breed of games which, rather like the Wii, is based around sensors which detect movement rather than a traditional hand-held control. However, the Kinect is even more advanced that its rival Wii, as it simply uses hand movements to navigate around the screen, with no need for any kind of controller.

And this is the technology that the developer, Etronika, are planning to use to pay bills.

But not content with simply being able to check your balance and pay bills, the firm also plans to integrate smartphones with the system, allowing a seamless transfer of money just by holding your phone up to the sensor.

But before anyone gets too excited, Microsoft have yet to provide authorisation for the tool to be sold commercially, so it could be a little while before it hits high street banks. But the technology to radically update the banking world is clearly just on the horizon and surely it won’t be too much longer before banks start waving hello…