Making banks and asset managers more user-friendly in a digital age

The financial industry is undergoing a profound transformation, propelled by technological advancements. Amongst these innovations are extended reality (XR) technologies including virtual reality (VR) and augmented reality (AR); these immersive technologies have the potential to revolutionize customer engagement within the banking and asset management industry by creating captivating experiences in the metaverse. However, despite this potential, significant challenges persist ranging from ethical considerations to regulatory hurdles and technological complexities. Nonetheless, XR presents a promising pathway for banks and fund managers to re-imagine customer interaction and pave the way for a digitally immersive future in finance.

Extended reality transforms banking and managing money by offering immersive experiences that deeply engage customers. Citi Research forecasts the XR market to reach $2.16trillion by 2035, with AR adoption also growing rapidly. Furthermore, Gartner predicts t…