Quick take:
- Punjab National Bank has opened a virtual branch in the metaverse.
- Customers will be able to access the PNB Metaverse from their homes or offices through mobile phones or computers.
- PNB is India’s third largest public sector bank.
Punjab National Bank (PNB) has opened a virtual branch in the metaverse. The institution joins a growing list of financial services companies that have launched metaverse experiences including HSBC, Ned Bank, South Korea’s Woori Bank and Shinhan Bank, and Commercial Bank International of the United Arab Emirates, among others.
PNB’s metaverse platform will provide virtual experiences to new and existing customers allowing them to make deposits, and explore various products and services like retail and SME loans, and government flagship schemes, among others.
Customers will gain access to the virtual branch from the comfort of their homes or offices through a mobile phone or computer. According to the announcement, PNB Metaverse will also allow users to access banking services immersively in digital avatar formats.
Commenting on the launch, Shri Atul Kumar Goel, the MD & CEO of PNB emphasised the importance of embracing digital advances in banking services, including using 3D environments and social media to improve engagement with customers.
Kumar Goel lauded the bank’s technology partner Kiya.ai, a digital financial services solutions product developed by Infrasoft Technology as key to bringing digital experiences to the bank’s Gen Z customer base.
“We are certain that with our Technology Partner Kiya.ai, we will be able to assist our customers virtually and empower them with all the informatory facilities that any branch would offer. 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,” he added.
On the other hand, Shri Rajesh Mirjankar, MD &CEO, Kiya.ai commented: “We are delighted to be part of Punjab National Bank’s Metaverse journey of delivering superior banking solutions and we have successfully developed an exclusive platform in the Metaverse to deliver an interactive, secure and immersive virtual experience for all banking services.”
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