Future Banking through a Virtual Mate by Sreyan Ghosh from india

With the future moving towards artificial intelligence and wearable technology, we propose a future where the bank is looked upon as a ‘Virtual Mate’. This ‘virtual mate’ would act as the individual’s go-to assistant whose prime focus would be to make the individual’s life simpler. We propose this as a banking service since the bank is the only entity that has complete control over a person’s finances. We propose a future where there would be no cash with each person having one virtual account from which transactions are to be made.

Virtual mates of a certain family may share limited information with each other thus enabling individuals to be aware of certain serious issues such as health warnings. The service monitors the individual’s emotions and keeps account of occasions such as a job promotion, which enables the bank to send surprise gifts. The service would also give financial suggestions based on need. The service is very personalised, diverse and intelligent; it can be involved in booking an appointment with the family doctor when it detects a need. Or making sure transaction and delivery of a product to the house is taken care of when the individual decides to shop.