Union Bank of India launches MetaVerse Lounge and Open Banking Sandbox environment
Union Bank of India today announced the opening of the Metaverse Virtual Lounge and Open Banking Sandbox environment at an event in Mumbai.
In the beginning, Uni-verse, the Bank’s Metaverse Virtual Lounge, provides product information and videos. Uni-verse will provide customers with a one-of-a-kind banking experience, allowing them to stroll around the Lounge and learn about the bank’s deposits, loans, government welfare schemes, digital initiatives, and so on as if they were in the real world. This programme is in collaboration with M/s Tech Mahindra.
Union Bank of India has also developed an Open Banking Sandbox environment in which it would work with FinTech and Start-Up partners to develop and market new banking solutions. The sandbox environment enables Fin Techs and developers by offering a platform for their ideas to be realised.
Ms. A Manimekhalai, MD&CEO of Union Bank, highlighted the bank’s implementation of cutting-edge technology such as Metaverse, which elevates the banking experience for customers. Furthermore, with the introduction of Sandbox, the bank is ushering in an Open Banking environment that will not only bring Third Party Developers’ unique ideas to life but will also open the way for new paths.
Through the introduction of Metaverse and Sandbox, Union Bank Executive Director Shri Nitesh Ranjan reaffirmed the bank’s commitment to providing innovative banking experiences to its customers.
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