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Financial Services (105)

The ATM that greases your palm

The ATM that greases your palm

In Japan, the Ogaki Kyoritsu Bank will offer card free ATM machines. Using only your pin code and your birthdate, the ATM will scan the palm of your hand to verify your identity. The bank offers this service to make sure you can always withdraw money, whether you forgot your wallet, you lost your card or you’ve been caught in a natural disaster.

Why it matters

The Ogaki Kyoritsu Bank is looking at new techniques to solve a problem caused by everyday (and extraordinary) misfortunes. What natural barriers in our services can we remove to optimize our service?

Enhancement
Instant Gratification
Financial Services
Netherlands
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The currency of time

A southern Spanish village has started using a new currency, complementary to euros, called “Pitas”.  Pitas can be changed to euros or labour time, where one Pita is valued at one euro or six minutes of labour. So users of the currency can buy whatever they need and pay with 24 minutes of ironing or washing dishes if that is the value of the product or service.
 

To avoid seeing a devaluation of the currency, it must be used within the first 3 months or it loses 10% of its value.  It also has an expiration date and its total value will be lost if it’s not used within a year.
 

The village celebrated its 1st Pitas fair, a marketplace where people used euros or labour to obtain pitas or buy products they needed with the currency. 
 

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The bigger your bank balance, the smaller your mortgage

“Mutuo Risparmio” is a flexible rate home loan which allows you to decrease your rate if you save money into your bank account:  the more you save, the more it decreases.

Enhancement
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