Can you imagine visiting your bank branch without leaving your home? No? Well, metaverse may make it happen soon. Not just discussing investment plans with an advisor, you may even be able to transact, access banking information and avail various banking products from the comfort of your home virtually, in the metaverse!
Kiya.ai, a digital solutions provider to financial institutions and governments, on Wednesday announced the launch of India’s first-ever banking metaverse named Kiyaverse in Mumbai.
Kiyaverse hopes to merge use cases of real-world banking with metaverse banking through an avatar (virtual humanoid) based interactions.
How will Kiyaverse work?
In the first phase, Kiyaverse will allow banks to extend their own metaverse for clients, partners, and employees, through services that will include Relationship Manager and Peer Avatars and Robo-advisors.
The Kiyaverse plans to have tokens as NFTs and support CBDC to enable open finance in a Web3.0 environment, the company said in a statement.
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Kiyaverse will interface its Open API connectors with Aggregators, and Gateways to enable a Super-App and Marketplace on the metaverse. With the introduction of Haptics enabled Headsets, Kiyaverse will provide a near real-world interaction using the internet of senses.
“While digital banking is functionally interdependent and inclusive, it is all too often seen as being emotionally detached. Metaverse allows banks to use cutting-edge technology with a human touch which will significantly deepen and personalize customer interaction. Kiyaverse offers meaningful applications in the metaverse that apply to relevant business use cases in the real world. It will enable banks to harness the potential of enhanced UX to bring out the best outcomes for data visualization and gamification of processes and procedures,” Kiya.ai MD and CEO Rajesh Mirjankar said.
He further said that Kiyaverse provides cross-functional multi-experience using personalized avatars across real world, mixed reality and virtual reality environments. Our product roadmap includes integration with CBDC and interoperability with other metaverses to enable open finance in the metaverse.
How will customers use Kiyaverse?
Kiyaverse will enable customers to use their personalized avatars on digital banking units, mobiles, laptops, VR headsets and mixed reality environments.
The platform will bring banking services from the real world to the virtual world and vice-a versa, interacting with a relationship manager’s avatar creation and customisation, AI-based digital customer interaction, portfolio analysis, wealth management, co-lending, and corporate banking.
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Kiyaverse provides 3-dimensional analysis of data for Banks including CMO Insights, Product Performance, Risk Analysis and Channel Analytics.