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Union Bank of India launches Metaverse

July 11, 2022

Union Bank of India launches Metaverse
Union Bank of India has announced the launch of a Metaverse Virtual Lounge & Open Banking Sandbox environment. This initiative is in partnership with Tech Mahindra.

Uni-verse, the bank’s Metaverse Virtual Lounge, will host product information and videos in the initial phase. Uni-verse will deliver a unique banking experience to customers by providing them information on the bank’s deposits, loans, government welfare schemes, digital initiatives etc. in a way as if they are in the real world.

The bank has also launched an Open Banking Sandbox environment through which it will collaborate with fin-techs and start-up partners for developing and launching innovative banking products. From the perspective of fin-techs and start-ups, they will get the opportunity to have a platform to implement their innovative ideas.

A Manimekhalai, MD&CEO, Union Bank of India, affirmed the bank’s adoption of the latest technologies including Metaverse to transform customers’ banking experience to another level, at the launch event organised in Mumbai. Nitesh Ranjan, Executive Director, Union Bank of India, reiterated the bank’s commitment to facilitating an innovative banking experience for its customers through the launch of Metaverse and Sandbox.

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