Union Bank of India (UBI) has got a partner in Tech Mahindra to launch “Uni-Verse”, India’s first PSU Metaverse Lounge. It will enable Union Bank of India to be on Metaverse. Makers Lab (R&D arm of Tech Mahindra), has built Metaverse ‘Virtual lounge’ for the bank to provide a unique and immersive customer experience. Illustrating a digital & tech savvy image would allure the GenZ customers of the bank and enable them to explore the range of products and services in the Metaverse ecosystem. Uni-Verse will enable customers to move around in the lounge, while also providing them with information related to loans, deposits, digital initiatives and welfare schemes.
Last month in Mumbai, UBI had announced the launch of ‘Uni-verse’ along with Open Banking Sandbox environment. In the initial phase, it hosts the bank’s products information and Videos. According to the press release, “Uni-verse will deliver a unique experience of Banking to the Customers who can roam around the Lounge, get information of Bank’s Deposit, Loan, Govt. Welfare Schemes, Digital initiatives etc. as if they are experiencing real world.” Collaboration and partnership with Fin Techs and Start-Up partners will be facilitated through the Open Banking Sandbox environment, by providing them a platform for developing and launching innovative banking products.
In the words of Anuj Bhalla, Digital and Cloud Transformation Leader President & SBU Head, APJI Enterprise, Tech Mahindra, “Metaverse is going to define the future for digital ecosystems, transforming the way we will work, connect and interact. While digital banking is in itself independent, inclusive, and immersive, the introduction of Metaverse will further deepen customer relations and offer personalized experiences. Our partnership with Union Bank of India is yet another milestone in our journey of catalyzing future-readiness and transforming customer experiences. We are proud to collaborate with the Union Bank of India team to launch India’s first-ever PSU metaverse lounge, Uni-Verse.”
Through this collaboration, Tech Mahindra, which is a leading provider of digital transformation, consulting and business re-engineering solutions and services, will leverage its infrastructure and foundational technological capabilities like Artificial Intelligence (AI), Blockchain, 5G, Augmented Reality (AR), Virtual Reality (VR), thereby transforming customer experience and delivering real business outcomes.
