Today during a panel at the SIBOS banking event, the range of metaverse definitions became apparent. Some think of the metaverse as gaming, while others consider it a more diverse 3D experience. HSBC sees it as the convergence of the digital and the physical world, including the time we’ve spent online during the pandemic.
Mike Abbott from Accenture explored some of how banks are using the metaverse. In Korea, Kookmin Bank (KB) is launching virtual branches where customers can talk to financial advisers. Accenture recently conducted a survey with tens of thousands of banking customers worldwide about whether they’d want to speak to their bank in a virtual world. More than half said yes. So interfacing with clients is one potential application for banks.
He acknowledged that while JP Morgan and others have started their metaverse presence, “without people, a branch is an empty location. It’s absolutely nothing. So the metaverse needs a population,” said Abbott.
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