A digital solutions supplier to financial institutions and governments, Kiya.ai has announced the launch of Kiyaverse, which is India’s first banking metaverse, in Mumbai as through avatar-based interactions, it intends to connect real-world and metaverse banking application cases.
Mumbai-based Kiya.ai seeks to make it possible for consumers to transact, access banking information, and obtain various banking products virtually from the comfort of their own homes through Kiyaverse.
As reported, according to Rajesh Mirjankar, MD and CEO, Kiya.ai, metaverse enables banks to combine cutting-edge technology with a human touch, significantly deepening and personalising customer interactions.
He said that Kiyaverse provides meaningful Metaverse applications that apply to relevant business use cases in the real world. It is believed that the banking metaverse will enable banks to maximise the potential of enhanced UX to achieve the best results for data visualisation and process and procedure gamification.
“Kiyaverse provides cross-functional multi-experience using personalised avatars across real world, mixed reality & virtual reality environments,” he noted according to reports.
How Kiyaverse Will Work
Kiyaverse will allow banks to extend their own metaverse for clients, partners, and employees in the first phase, with services such as Relationship Manager, Peer Avatars, and Robo-advisors.
According to the company, the Kiyaverse intends to use tokens as NFTs and to support CBDC to enable open finance in a Web3.0 environment.
It was also said that Kiyaverse will connect its Open API connectors to Aggregators and Gateways to enable a metaverse Super-App and Marketplace. it will provide near-real-world interaction using the internet of senses with the introduction of Haptics enabled Headsets.
Additionally, the customers will be able to use their personalised avatars on digital banking units, mobile devices, laptops, VR headsets, and mixed reality environments because of Kiyaverse.
The platform will connect banking services from the physical to the virtual worlds, interacting with a relationship manager’s avatar creation and customisation, AI-based digital customer interaction, portfolio analysis, wealth management, co-lending, and corporate banking.
The banking metaverse will provide data analysis in three dimensions for banks, including CMO insights, product performance, risk analysis and channel analytics.
The majority of businesses want to be a part of the Metaverse development gold rush. Through Metaverse development services, companies want to bring advanced AI-powered data analytics and simulation to their services and products.
This next-generation technology, which incorporates AR and VR, can assist businesses in staying ahead of the competition.
However, many development companies in India’s cities such as Delhi, Pune, Bangalore, Ahmedabad, Mumbai, and many others provide Metaverse development services to their global clients.
Here are some of them:
Tech Mahindra: This IT service major has launched TechMVerse launch to offer interactive and immersive experiences to customers. The company said that Tech Mahindra will leverage its world-leading network and infrastructure capabilities and foundational technological capabilities such as pervasive AI, blockchain, 5G, AR, VR, and quantum computing to build B2B (business-to-business) use cases across sectors.
Wipro: This Indian giant has been assisting its customers in realising the tremendous development potential in the digital realm by assisting them in developing and designing their own Metaverse platform that may add value to their business. Wipro offers Metaverse development services across a variety of concepts for every industry, allowing clients to fulfil their business objectives.
Accenture: It offers Metaverse development services to help people connect with one another in the digital world. Accenture offers Metaverse technology for meetings, learning, and team gatherings, which can help them alter the experience of new hires. Accenture offers Metaverse Development Services for a variety of projects.
Infosys: Its metaverse foundry was launched by Infosys to traverse the unprecedented convergence of technologies such as XR, DLT, 5G, AI, IoT, and many others. Enterprises can use this platform’s on-demand flexibility to establish their own metaverse environment to react to changing priorities and develop market trends in a secure and efficient manner.