Indian fintech Kiya.ai will launch a “banking metaverse” to allow users to visit a virtual bank branch at home, a press release announced on Friday (June 3).
The press release presented this as a way to conduct transactions, access banking information and use a number of products virtually.
Called Kiyaverse, it will allow users to adopt an avatar, or “virtual humanoid”, and allow banks to add features for customers, partners and employees.
It will also come with tokens as NFTs and support CBDC, and the release says Kiyaverse will interface its open API connectors with aggregators and gateways to enable a super app and marketplace on the metaverse.
And the release says there will also be a headset so users can access a more “realistic” banking experience with more believable interactions via the internet of the senses.
The platform will offer real-world banking services in a virtual world, and vice-versa. It will feature interactions with a relationship manager’s avatar and customization, AI-powered digital customer interaction, portfolio analytics, wealth management, co-lending and corporate banking, according to the press release.
Rajesh Mirjankar, Managing Director and CEO of Kiya.ai, said digital banking can often be seen as “detached”, something the company wanted to address.
He said the metaverse could allow banks to use technology “with a human touch” which the company says will improve interaction with customers.
See also: Meta Says Metaverse Will Be Worth $3 Billion
The Metaverse has been a new frontier for a number of industries, and Meta President of Global Affairs Nick Clegg has defended the choices of the company formerly known as Facebook, saying the technology will be a new change in the way people use the internet.
Clegg said the transition is a bit like how innovations like desktop computers and smartphones were perceived when they were first released.
“Skepticism is a natural reaction to something that seems straight out of a science fiction novel – in a way, it is – especially when there are wider societal concerns about how technology works in the two-dimensional world,” Clegg wrote.
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