Wearable technology has grown massively over the last few years, with one innovative product after the next appearing in the tech market in a bid for companies to tempt the inner geek in us.
From Google Glass to Apple AirPods, the strides the tech industry is making are immense and are shaping the way we live our interconnected lives. The pace of change is so swift that products that are only a year or two old feel like they’ve become out of date and are missing new, important features.
Of course, wearable technology itself has been around for a while in the form of fitness tracking bracelets or Bluetooth headsets but the last few years have seen many more products heading to market.
The Rise of Wearable Technology in Clothing
Now that scientific development has seen battery, sensor, and chip size reduced, more technology can be made wearable, such as smart shirts carrying various virtually undetectable sensors that can relay information.
One device is AmpStrip, a tiny fitness monitor that sticks directly to the skin. The AmpStrip can be worn for days at a time and delivers all manner of biometric feedback to the user. Some designers have even released wearable clothing which contain heated elements to keep you even warmer in the winter months.
Then there are bike helmets with built-in navigation systems and lights that flash to tell a cyclist which way to go and sports bras that track a user’s heart rate and performance.
Wearable Tech in the Medical World
The medical world is becoming increasingly interested in wearable technology which gives doctors the ability to monitor patients over a certain period of time, away from the hospital, for a whole range of medical issues including anything from sleeping habits to glucose levels.
Using smartphones and wireless connections alongside smart-tech clothing mean life-threatening conditions such as epilepsy and diabetes can be carefully monitored without sufferers being confined to one place.
Insurance Companies Look into Wearable Tech
Private health insurance companies are looking at innovations that allow them to offer ‘incentive-based wellness programs’ with the potential to lower premiums.
However, for the car insurance company wearables such as technology-equipped eye-wear could also help in road accident claims assessments.
Digital Wallets for Streamlined Payments
Nowadays, it’s even possible to store your financial details on wearable technology such as smartwatches, which removes the need to carry cash, debit cards and even our mobile phones.
Online banking has moved into the mainstream and soon all our financial transactions could take place without the physical handover of notes and coins. Some businesses expect to be operating cash-free within the next few years, which has also been brought on by the impact of COVID-19.
However, some technological innovations are denied to people without a bank account or a current account, but there are some alternative banking facilities available to those who are denied access to a traditional bank account.
Alternative Accounts with Suits Me®
At Suits Me®, we’re all about fintech (financial technology), we’re an online-only solution suitable for everyone! We strongly believe in financial inclusion, meaning we think everyone should be able to access a suitable account, regardless of their background, personal circumstances or financial position.
Although we don’t have any branches, you can manage your money and make payments in many different ways using your contactless Suits Me® debit card. We offer an online account, a mobile app and smart features that make it easy to manage your finances.
However, we also offer an exclusive cashback reward programme to all our account holders. This means if you use your Suits Me® debit card with one of our retail partners, you’ll automatically receive a percentage of what your spend, paid directly back into your account.