Rrahul Sethi {rrahul.eth}’s Post

From a lOGICAL prespective here, this Virtual Experience Center is perfectly ,artistically to give the key element to equal the immersion of the reality in the virtual world, I say these words out of going on the tour myself, from a #METAVERSE prespective to include I hear whispers in educating the young, #HSBC #Rrahul Sethi.eth, #ENGAGE #EDUCATE #HEADSINHEADSETS

HSBC India launches Metaverse-based Virtual Experience Center as it offers digital accounts to NRIs…Now that's a consumer-building strategy! HSBC International Banking Services Metaverse is a fantastic opportunity for students seeking overseas education, mariners, and NRIs. This Metaverse Experience offers an immersive way to explore venues like the Amphitheater, Premier Lounge, Beyond Banking Zone, Mariners Harbour, Overseas Education Lounge, NRI Oasis, Interactive Zone, and much more. Kudos to ENGAGE XR for building such a dynamic environment David Whelan and Abid H. Immerse yourself in HSBC's international banking propositions and value-added services from anywhere, on any device – be it a smartphone, tablet, laptop, or VR headset. HSBC sees great potential in these technologies to transform traditional banking, providing new ways for customers to manage their finances and create unique experiences with HSBC. Kudos to the visionary team - Sandeep Batra, Deepthi Sirvuri, Jaswinder Sodhi, Deepa Thacker, Kriti M., Amrita Mallik The Metaverse also offers a platform for interactive gaming experiences, opening up a whole new world of possibilities for HSBC’s customer base. This technology can enhance customer experience by enabling virtual events like game shows or virtual city tours. What do you think about HSBC’s Metaverse? Share your thoughts and experience it yourself through the link in the comments. #metaverse #banking #bfsi #digitaltransformation

🌐 Diving into the future at the Gartner IT Symposium Series: "A Metaverse of Banking," where Mr. Anil Kuril, CTO of Union Bank of India, unfolded the session, "The Role of Emerging Technologies in Reshaping Customer Engagement"! 🏦✨ 🚀 Immerse yourself in a banking experience where the metaverse is not just a buzzword but a game-changer! Reshaping customer engagement, elevating brand value, and fostering loyalty – it's all happening. 🌐💙 💻 Let's zoom in on Union Selfie, UBI's virtual banking marvel. Seamless, secure, and futuristic, it redefines personalized service with facial recognition, voice commands, and chatbots. Banking has never been this cool! 💁♂️💬💰 💡 What's turning heads? UBI's commitment to financial empowerment through emerging tech. It's not just about transactions; it's about empowering customers to make informed decisions, revolutionizing financial well-being. Now that's a power move! 🚀💰 🤝 UBI takes community building to the next level with immersive experiences like virtual home tours and events. Beyond banking, it's about creating a sense of belonging and collaboration, strengthening brand value and loyalty. 🏡🤗 🔍 The bottom line: In the digital age, emerging tech isn't a choice; it's a strategic must for banks. Innovation and collaboration are the keys to unlocking growth and redefining customer engagement. Ready to jump into the metaverse and reshape banking? 🌐💼✨ 👇 Share your thoughts below! What's your perspective on the metaverse revolution in banking? Let's ignite a conversation! 💬🚀 #MetaverseBanking #TechInnovation #FutureOfFinance #customerexperience #GartnerITSymposium #UnionBankOfIndia #BankingRevolution 🌐💬✨ HyperTrack Kashyap Deorah Gaurav Deshpande Ayushi P

Virtual economic system in metaverse Metaverse talk has quietened this year. It became a hype in 2021-2022 and began from a novel titled, "Ready Player One" made into a movie by Steven Spielberg in 2018 that starting to popularize the idea of the metaverse. Metaverse is a digital world that extend the physical world using augmented reality (AR) and virtual reality (VR) technologies allowing users to interact within real environments using avatars/holograms. Meaning it will not stop at video gaming only but also potentially becoming alternative platform for our day to day transactions. Imagine Pokemon-Go like features but for banking, fashion etc. Sounds far-fetched? Well more than half of the population could not agree more. But... Metaverse is not dead but the hype surrounding is. In fact in Malaysia, the direction is steadily growing. This is evident when GX Bank Berhad (GX Bank) made an announcement to have received approval from the Ministry of Finance and Bank Negara Malaysia (BNM) being the first of five applicants that have been given the green light to commence operations, effective 1 September 2023. The digital bank will first start off by beta testing its app and services internally. and eventually to a wider pool of users in stages. GX Bank hopes to refine the user experience through continuous feedback before officially launching it to broader public. Through technology and innovation, the digital bank aim to serve the unserved and underserved individuals, micro and small medium enterprises through various channels including a bank app and 24/7 customer support via multiple platforms. Summaries of other companies that already have implemented VR and AR payments: 🥽 Visa has introduced an AR payment app that utilizes VR technology. With this app, users can access a 3D map to select a specific outlet, choose items from that outlet, and make payments within the VR world. Visa’s VisaReady program enables developers to implement VR and AR solutions. 🥽 Mastercard partnered with Swarovski to create a virtual store where customers can purchase virtual jewelry using Masterpass, Mastercard’s digital wallet. Mastercard’s Priceless platform provides a payment experience as customers explore virtual stores and restaurants to make purchases. 🥽 Mastercard has also collaborated with Wearability, a virtual reality company specializing in lightweight headsets. Together, they aim to provide customers with a virtual buying experience. 🥽 Ikea offers its AR mobile app, allowing customers to place furniture within their homes and make instant purchases virtually. 🥽 Alibaba utilizes AR technology to enable users to scan QR codes and view products in 3D before purchasing them through its mobile payment platform, Alipay. A similar feature is on Tencent’s mobile payment platform, WeChat Pay. #digitalbanking #metaverse #pokemongo #futureisnow

How is the Technology of Metaverse Transforming the Future of Banks 1) Personalized and Enhanced Customer Experience One of the significant impacts of the metaverse on banking will be in customer experience. Traditional banking often leaves consumers navigating complex systems, but the metaverse offers an immersive, intuitive, and personalized platform. Customers can walk into virtual bank branches, interact with AI-driven customer service representatives, or consult with financial advisors in real-time, even from the comfort of their homes. The metaverse will also support personalized customer journeys based on a thorough understanding of individual needs and behavior patterns. For instance, virtual financial advisors could offer tailored advice, considering a user’s financial history, goals, and risk tolerance. 2) Real-Time Financial Services The metaverse is a dynamic, constantly active environment, reflecting the real world’s 24/7 nature. This dynamic characteristic will allow banks to offer real-time services. Transactions, consultations, dispute resolutions, and more can happen instantaneously, regardless of time or place. This shift could dramatically increase customer satisfaction and streamline banking operations. 3) Innovative Financial Products and Services The metaverse also presents an opportunity for banks to develop new financial products and services. For example, with the rise of NFTs (non-fungible tokens) and digital assets, banks could provide storage, management, and trading services. Banks could also offer virtual loans and mortgages for digital real estate and other virtual assets, opening up a whole new business line. 4) Security and Privacy While the metaverse’s immersive nature holds potential for improved customer service and product innovation, it also poses new challenges in terms of privacy and security. As banks explore the metaverse, they will need to invest in technology and practices to protect sensitive information in this new environment. Blockchain technology, which underpins much of the metaverse’s infrastructure, will be crucial in ensuring secure transactions and data protection. Banks may also need to adopt new identity verification systems and fraud detection methods suitable for the metaverse’s unique context. 5) Workforce Transformation The metaverse will not only change how banks communicate with their customers but also the way they engage with their employees. Virtual reality meetings, collaborative spaces, and training programs could reshape the banking workforce, improving flexibility, accessibility, and efficiency. The technology could also help banks tap into a more diverse talent pool without geographical constraints.

𝐍𝐚𝐯𝐢𝐠𝐚𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞: #𝐌𝐞𝐭𝐚𝐯𝐞𝐫𝐬𝐞'𝐬 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐯𝐞 𝐑𝐨𝐥𝐞 𝐢𝐧 #𝐁𝐚𝐧𝐤𝐢𝐧𝐠 Uncover how the convergence of the Metaverse and banking is reshaping the financial landscape. Discover why leading banks are embracing this #immersivetechnology to revolutionize customer experiences and secure lifelong connections. Read our latest #blog to explore the incredible potential of Metaverse in banking. Don't miss out on being at the forefront of this cutting-edge evolution! . . . #metaversedevelopment #bankingindustry #bankingandfinance #metaversebanking #digitalintegration #technologysolutions #techcompany #softwaredevelopmentservices #customsoftwaredevelopmentcompany #arvr #metaversegeneration #bankingsector #futureofwork2023 #blockchaintechnology #bankingadoption #bankingsoftwaredevelopmentservices #softwaresolutions #bankinginnovation #bankingtechnology #operationalexcellence #blogpost #immersivelearning #immersivetechnology #technologypartnership #globalreach #usa #uk #india #riyadh #indonesia #globalbusiness #financiallandscape #softwareengineering #metaverserevolution

🚀Disruptive Technologies for Digital Finance Today , I had great opportunity to conduct this #Deeptech session for bankers from #India and #Nepal at Program by the National Institute of Bank Management, Pune In My view , Disruptive Deeptech technologies are reshaping the landscape of the Banking, Financial Services, and Insurance. Deeptech are changing how financial institutions interact with customers, market their services, and deliver personalized experiences. 🎤 Let's Learn from my Banking experiences and build the future of Finance Let's Join https://lnkd.in/gj3JRE4 💡 #InternetofThings Smart Home Insurance: Insurance companies can offer IoT-enabled smart home insurance. Customers who install IoT devices like smart security cameras, water leak detectors, and fire alarms can receive discounted premiums, as these devices mitigate risks and enable early detection of potential incidents. 🎯 #JPMorgan Chase partnered with wearables manufacturer Fitbit to offer customers special discounts on credit card rewards based on their fitness activity levels tracked by Fitbit devices. 💡 #ArtificialIntelligence Robo-Advisors: Financial institutions can provide AI-powered robo-advisors that analyze customers' financial goals, risk tolerance, and market trends to recommend investment strategies and portfolios aligned with individual preferences. 🎯 #HSBC utilizes AI algorithms to analyze customer data and offer tailored investment advice. 💡 #BigData Credit Scoring: Lenders can use big data analytics to assess creditworthiness more accurately. They analyze a range of data, including traditional credit history and alternative data sources, to make more informed lending decisions. 🎯 #Santander uses big data analytics to detect potential credit card fraud. 💡 #Blockchain Supply Chain Finance: Blockchain can enhance supply chain finance by creating an immutable record of transactions and movements within the supply chain. 🎯 #BancoSantander launched a blockchain-based international money transfer service called "Santander One Pay FX." 💡 #Metaverse Virtual Financial Education: Financial institutions can host virtual financial literacy workshops and seminars within the metaverse. 🎯 #BBVA utilized the metaverse to offer virtual property tours for customers interested in home loans 💡 #5G Augmented Reality Banking: 5G-powered augmented reality (AR) can transform banking experiences 🎯 #Barclays introduced "Video Banker," a service that leverages 5G technology to provide high-quality video calls between customers and financial advisors 🏆 Bottomline - Let's Adopt disruptive technologies for financial institutions Let's Revolutionize their digital finance strategies Let's Enhance customer engagement Let's stay ahead in a rapidly evolving industry 🔥 Consider Cybersecurity and Data Privacy measures and data privacy practices is crucial for building trust with customers who are concerned about their financial information

Find out how the metaverse can revolutionize the financial industry! By 2024, this growing frontier will provide banks with a $800 billion market opportunity. Discover how cutting-edge services, virtual banking, and immersive customer experiences are changing the market. Explore actual instances of banks using the metaverse, including BNP Paribas, Citi, and Bank of America. Discover the 3D future of banking and how it can spur creativity, promote diversity, and enhance data insights.  The financial industry is prepared to take advantage of the metaverse's enormous possibilities.🌐💰 Now read more! https://lnkd.in/gajmDWUU What aspects of virtual banking and immersive financial experiences do you find most exciting or intriguing? Share your thoughts and join the conversation! #MetaverseBanking #FinancialInclusion #Metaverse

📈 The Rise of Contactless Handheld Devices: Revolutionizing Payments in India 🇮🇳 India's financial landscape is undergoing a significant transformation due to the remarkable rise of contactless handheld devices. The transformative power of this technology is supported by compelling statistics. In 2020, contactless payments in India witnessed explosive growth of 88%. This reflects the rapid acceptance of contactless payment methods among Indian consumers. The convenience of swift, secure transactions through tap-and-go cards or mobile wallets has found favour with the masses. The COVID-19 pandemic accelerated the adoption of contactless payments, with a 72% increase in usage in India. The touch-free nature of these transactions became particularly attractive during these trying times. One of the most exciting aspects of this surge in contactless payments is its impact on small and micro businesses. The adoption of contactless handheld devices has allowed these enterprises to embrace digital payments more readily, driving the retail revolution. In 2021, there was a remarkable 56% increase in the usage of such devices among small businesses in India. Biometric authentication, including fingerprint recognition, has been a game-changer in contactless payments. The adoption of biometric technology on contactless devices increased by 65%, adding an extra layer of security and simplifying the payment process. Furthermore, contactless payments have bridged the urban-rural divide in India. The adoption of these payment methods in rural areas is on the rise, with 37% of rural Indians using contactless payments in 2021. This statistic is a testament to the financial inclusion potential of contactless technology, empowering individuals in remote areas. The government's initiatives, such as 'Digital India,' play a pivotal role in promoting contactless payments. These programs actively encourage digital payment adoption, pushing India closer to becoming a cashless society. In this era of digital transformation, contactless handheld devices are more than just a convenient way to pay; they're facilitating financial inclusion, making transactions safer, and ushering in a new era of digital finance in India. The rise of contactless handheld devices is revolutionizing the way we pay and shaping the future of finance in India. Have you experienced the impact of this revolution on your daily life? Share your insights and experiences! #ContactlessPayments #DigitalIndia #FinTechRevolution #SecurePayments #CashlessIndia #DigitalTransformation

Visa: Tokenization for a trillion-dollar India’s digital economy 📍 The digital payments landscape is undergoing a seismic shift, driven by technological advancements that range from mobile wallets and wearables to biometrics according to Visa report. 🔃 As consumers adapt to these emerging payment methods, the onus is on banks, fintechs, and merchants to innovate and meet these evolving needs. 🔖 Global metrics on tokenization 🔸 7 billion-plus tokens issued 🔸 8500+ issuers enabled for tokenization 🔸 3% card authorization rate uplift 🔸 28% fraud reduction 🔖 India metrics on tokenization 💠 300 million plus tokens issued 💠 4.5% card authorization rate uplift 📍 A trillion-dollar aspiration India’s ambitious target of a $1 trillion digital economy by 2030 brings with it the challenge of ensuring consumer #protection and #awareness. The #sevenfold increase in #cyberattacks from 2018 to 2022 underscores the urgent need for technologies like #tokenisation to secure India’s digital future. 📍 Regulatory foresight The Reserve Bank of India (#RBI) has been a visionary regulator in India’s tokenisation journey. Since 2019, the RBI has permitted the storage of tokenised card #data on various electronic #devices, with adequate prescribed safeguards being in place, extending this to include laptops, wearables, and IoT devices in 2021. 📍 Collaborative adoption The success of tokenisation in #India is also a testament to the collaborative spirit of the country’s payment ecosystem. A diverse range of stakeholders, including financial institutions, payment service providers, tech providers, and merchants, have come together to implement this technology at scale. 📍 The convergence of speed and security  One of the most compelling trends driving modern #commerce experiences is the convergence of #speed and #security. For instance, in the realm of mass transit and contactless #payments, tokenization synergises with #NFC technology to enable quick tap-to-ride payments across various transit options. This eliminates the cumbersome wait times associated with #traditional transaction methods while ensuring top-notch security. Credit: Visa Visa Commercial Solutions #india #visa #tokenization #securepayments #dataprotection #digitaleconomy