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Union Bank of India enters the Metaverse


The Union Bank of India today (July 8, 2022) announced the launch of Metaverse Virtual Lounge and Open Banking Sandbox environment at an event held in Mumbai.


The Union Bank of India today (July 8, 2022) announced the launch of Metaverse Virtual Lounge and Open Banking Sandbox environment at an event held in Mumbai.


Uni-verse, the Metaverse Virtual Lounge of the Bank will host product information and videos in the initial phase. In a statement, the bank said that Uni-verse will deliver a unique experience of banking to the customers who can roam around the lounge, get information about bank deposits, loans, Government welfare schemes and digital initiatives etc. as if they are experiencing the real world. This initiative has been launched in partnership with Tech Mahindra.


Union Bank of India also launched Open Banking Sandbox environment through which it will collaborate with Fintechs and start-up partners for developing and launching innovative Banking products. Sandbox environment empowers Fin Techs and developers by providing a platform which will realize their ideas.


A Manimekhalai, MD and CEO of Union Bank of India said that initiatives affirm the bank’s adoption of the latest technologies including Metaverse which transforms Customer’s Banking experience to another level.


Further, with the launch of Sandbox, Bank is ushering into an Open Banking environment which will not only turn Third Party developers’ innovative ideas into reality but will also pave the path for new avenues.


Nitesh Ranjan, Executive Director, Union Bank of India, reiterated the Bank’s commitment to facilitating innovative Banking experiences for its customers through the launch of Metaverse and Sandbox.



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Source: https://www.financialexpress.com/digital-currency/union-bank-of-india-enters-the-metaverse/2587889/lite/

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