Spanish lender Caixa Bank is tapping into growing demand for wearable technology with the development of smartwatch and Google Glass apps.

The bank claims to be the first to develop an application for use with smartwatch devices, with the launch of a service aimed at investors on Sony's SmartWatch 2.

The app lets users choose stock and indices from international markets and follow them through the smartwatch, displaying recent price information and fluctuations. For more detailed information users can select the stock price on the smartwatch screen, which opens the CaixaBank stock market application on their smartphone.

The bank has also developed a Google Glass augmented reality app targeted at retail bank users, which includes a branch locater and currency converter.

The locater app superimposes directions to the nearest Caixa Bank branch onto the Google Glass screen, providing information such as the nearest branch, distance and phone number, all of which is accessed through the Google Glass voice recognition system.

The currency converter feature allows users to focus on a product's price tag and calculate equivalent currency values, which are then superimposed on the screen.

The Google Glass functionality will be available once the service is launched in the United States. The smartwatch service can be downloaded now for free via Google Play or the Caixa Bank app store, CaixaMvil Store.

Caixa Bank is not the first to develop Google Glass applications aimed at the world of finance. Last year the research arm of financial services firm Fidelity Investments claimed to have developed the first Google Glass app targeted specifically at investors and traders.

A recent report from analysts Juniper predicted that sales of smart wearable devices will reach $19 billion (£11.4 billion) in 2018, compared with $1.4 billion (£0.8 billion) in 2013.