An initiative has just been launched by Union Bank of India in partnership with Tech Mahindra to enter the Metaverse called Uni-verse.
At a gathering held in Mumbai today (July 8, 2022), the Union Bank of India announced the introduction of the Metaverse Virtual Lounge and the Open Banking Sandbox environment.
In the beginning, the Bank’s Uni-verse Metaverse Virtual Lounge will host videos and information about its products. According to a statement from the bank, Uni-verse will give customers a distinctive banking experience.
Customers will be able to walk the lounge and learn about bank deposits, loans, government welfare programs, and other digital initiatives as if they were in the real world. Together with Tech Mahindra, this initiative has just been launched.
The Union Bank of India has introduced the Open Banking Sandbox environment, whereby it will work with Fintechs and startup partners to create and introduce cutting-edge banking solutions. Sandbox environments give developers and financial technology companies a platform on which to realize their ideas.
The initiatives underline the bank’s acceptance of the most recent technology, including Metaverse, which elevates the customer banking experience, according to A Manimekhalai, MD and CEO of Union Bank of India. Additionally, with the introduction of Sandbox, Bank is establishing an environment for Open Banking that will not only make the innovative ideas of Third Party developers a reality but also open up new opportunities.
Through the introduction of Metaverse and Sandbox, Nitesh Ranjan, Executive Director, Union Bank of India, reiterated the bank’s dedication to providing its clients with cutting-edge banking experiences.