A Checking Account as Smart as a Diaper?
by Bo McDonald
Could you provide as much info to your members about their finances as a diaper can provide a parent about their infant? You should be able to!
Pixie Scientific has developed a new “smart” diaper that is capable of detecting urinary tract infections, kidney dysfunction and dehydration. It’s not a scratch and sniff test (because that would be gross…) Here’s how it works:
The technology for the “smart” diaper is relatively simple. A small patch in the front of the diaper contains four small, multi-colored squares. When the squares come into contact with certain proteins, water content or bacteria they change colors and signal parents that something might be off with their baby’s health.
But it doesn’t stop there. There is also an app, which can capture the colored squares and give a precise reading of the baby’s chemical data. That information can then be transmitted to a doctor, who can decide whether or not the baby needs to be examined any further.
My question is, how can we provide this kind of information on consumer finances? With a primary checking account, we’re able to tell a good bit about someone’s finances and assist with savings goals or budgeting. Sure, there are some solutions that might do something similar, but why isn’t there more buzz about this and broader use of this kind of technology in the financial sector? If a dirty diaper can be so technologically advanced, so should financial services.
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