Alfa Bank Fitness Account

Alfa Bank Fitness Account

Wearable technology means humans are creating more data than ever before. The trick for businesses is finding a use for that data that the consumer will find helpful (rather than creepy).

Two such innovations from healthcare and finance stand out as a good example for others to learn from: Health Insurance company Harvard Pilgrim Health Care’s EatRight Rewards scheme works by tracking employees’ food shopping habits. While that may sound invasive to some, the company do so in order to offer cash bonuses to employees that buy fruit and veg at the supermarket.

And equally looking to reward a healthy lifestyle, Alfa-Bank in Russia created a fitness account with a high interest rate of 6% per annum. However, users could only transfer funds into that account, and benefit from the interest rate, by syncing their Jawbone, RunKeeper or Fitbit fitness tracker with the bank. For every step run, users would be able to transfer 1 to 50 cents into the account.