Back to Career News

Digital Banking to get human touch with metaverse

July 11, 2022

Digital Banking to get human touch with metaverse
Banking is already on our fingertips via mobile phones. The next leap of technology promises to bring a human touch to the digital experience with virtual interactions in the metaverse. Like what Union Bank of India did on Friday by launching its metaverse virtual lounge, through which customers can visit a bank without actually visiting the bank.

As the bank’s chief technology officer (CTO) Rajiv Mishra told FE, “You choose a digital avatar for yourself, enter the bank lounge and access the available banking services. Currently, we are giving informative services through which customers can seek details on social security services, loans and other banking products,” adding that the service can be availed on both desktop and through virtual reality headsets.

With this, the bank has joined international and foreign banks such as JP Morgan Chase, HSBC and South Korea’s Kookmin Bank, which have already made strides into the metaverse.

Digital banking is set to become bigger, which will not only allow for remote access to services, but add a personal touch, as Rajesh Mirjankar, CEO of Kiyaverse, India’s first metaverse banking platform, explained. Launched by digital service provider firm Kiya.ai last month, Kiyaverse has witnessed keen interest from private and public sector banks and NBFCs (non-banking financial companies).

Important Links:

Recommended for you ...

Axis Bank and Mastercard Launch Premium Credit Card for Small Business Owners
Axis Bank and Mastercard Launch Premium Credit Card for Small Business Owners

September 26, 2024

Banks Report Over 15% Growth in New Credit Card Additions: RBI Data
Banks Report Over 15% Growth in New Credit Card Additions: RBI Data

September 26, 2024

National Company Law Tribunal (NCLT) Approves Merger of IDFC and IDFC First Bank
National Company Law Tribunal (NCLT) Approves Merger of IDFC and IDFC First Bank

September 25, 2024

Chat on WhatsApp