In addition to the launch of the virtual branch, the public sector bank has also announced that it will give immersive 3D experience to its customers through their digital avatars while they perform their traditional banking activities.
New Delhi: Punjab National Bank has launched India’s first virtual branch in Metaverse. With this, the bank will be able to deliver a unique experience to its customers, who can now explore bank deposits, digital payments, senior citizen deposits, and flagship schemes of the government of India.
“With this technology, we are looking forward to increasing the customer engagement rate, improving the customer acquisition process, and providing a hyper-personalised customer experience,” PNB managing director Atul Kumar Goel was quoted as saying by Zed Business on the launch of the virtual branch.
Immersive 3D Experience
In addition to the launch of the virtual branch, the public sector bank has also announced that it will give its customers an immersive 3D experience through their digital avatars while they perform their traditional banking activities.
The bank has announced that it has created the Bank’s Metaverse Branch, giving its prestigious clients exclusive access to its virtual setting from the comfort of their homes or places of business with the use of their smartphones and laptops, the report said.
What’s Metaverse
“The metaverse is the emerging 3-D-enabled digital space that uses virtual reality, augmented reality, and other advanced internet and semiconductor technology to allow people to have lifelike personal and business experiences online,” as per McKinsey & Company.
To different people, the metaverse signifies different things. Some people think of it as their friends’ virtual playground. Some people believe it might be used as a commercial facility for clients and businesses, the report also said.
About PNB
Punjab National Bank, an international provider of banking and financial services, is a state-owned bank with its headquarters in New Delhi. It was established in 1894, and the bank had more than 80 million clients as of March 31, 2017. It operated 6,937 branches and 10681 ATMs in 764 cities.
The bank’s illustrious past, however, has been marred by the $1.7 billion (about 1,000 crore) scam it announced on February 14th, in addition to its enormous pile of problematic loans, which has come as a harsh shock, as per Groww.
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