Deutsche Bank and Design Bloom’s Future Banking Competition brought together more than 2,000 entrants offering the best and brightest visions of what’s to come in the banking industry. The innovative entries poured in from 80 countries and brought to life ways to improve customer banking transactions and manage finances in the digital realm. Of the ideas, apps, products, services and gadgets, the judges chose three winners with promising entries for improving the future of banking.
Marita Mitrovic from the Netherlands won first prize with her ‘LIFEWIRE’ entry. The ‘LIFEWIRE’ debit card is designed to help consumers track their spending and stay on budget by showing how much of their income is available for spending by using a graph. The innovative debit card shows your ‘true balance’ of what you can spend after subtracting your monthly fixed expenses like rent, utilities, etc. The card shows how much you can spend as the days of the month progress, and features a button that allows you to compare your actual spending and your daily alloted spending so you can see your financial situation at any time without having to do mental calculations.
Second place in the Future Banking Competition went to ‘THE REMINDERS’ by Juan Gasca, Nacho Rodriguez and Rafael Saragoza of Spain. The ‘REMINDERS’ project bridges the gap between dreams and reality and between the digital and analog worlds. It works by allowing you to link a bank account with a REMINDER doll to help fund your dream. The wooden doll can hold a photo of your big goal and is linked to an account via NFC card. Every time you or someone who wants to support you closes the mobile on the doll, a monetary donation to your account can be made, helping build your dream into a reality.
Third prize in the contest went to ‘GRUP,’ an app by Joanny Causse, Guillaume Faure, Rahman Kalfane and Alexis Porhiel from France. The app allows friends, co-workers or any group to share expenses seamlessly. It delivers payment reminders to group members and collects the funds for you so there’s no tension or awkward asking for money to recoup costs of a group expense. ‘GRUP’ allows you to collect all payments with the push of a button and have the funds ready to make one payment when needed instead of forcing one person to cover expenses and have to ask everyone for reimbursement.
The Future of Banking contestants highlight the exciting ways digital commerce and customer service can intersect to make an easier, more consumer-friendly world of banking.
rp PSFK
See the shortlisted ideas here