The first-of-its-kind banking metaverse was made by Kiya.ai, a digital solutions company that works with banks and governments all over the world. Kiya.ai works with governments from all over the world.
With Kiyaverse by Kiya.ai, customers can do business and find out about their finances without having to leave the comfort of their own homes.
During the first phase of the initiative’s implementation, financial institutions may start making their metaverses for their clients, business partners, and staff to use. With the help of metaverses, people will be able to get services like relationship managers, peer avatars, and Robo-advisors. Kiyaverse will give users NFT coins as a way to promote open finance in a Web 3.0 setting.
Because Kiyaverse has an open application programming interface (API), it will be possible to connect aggregators and gateways to a metaverse Super-App and Market. According to a press release from Kiyaverse, the company’s Haptics-enabled Headsets will offer “near real-world interaction by using the internet of senses.”
“Even though digital banking is linked and inclusive in terms of how it works, it is often seen as emotionally detached,” the author writes. “This is how most people think about it because it is all over the place.” Metaverse could help financial institutions improve and personalize how they interact with their customers by using cutting-edge technology while keeping a human touch. To help people who use the Metaverse, Kiyaverse has made several useful applications that can be used with a variety of real-world business problems or on their own to solve those problems. As a result, financial institutions will be able to use improved UX to get the most out of data visualization and gamification. Rajesh Mirjankar, the Managing Director and Chief Executive Officer of Kiya, thinks that the “Kiyaverse” gives customers a multidimensional and cross-functional experience that lets them move easily between reality and virtuality while using their avatars.
Shortly, customers will be able to use their customized avatars on virtual reality headsets, digital banking machines, mobile devices, PCs, and mixed reality settings. Users would be able to use both traditional banking services and digital banking services through this platform. The client interaction, portfolio analysis, wealth management, and corporate banking will all be done with the help of artificial intelligence. AI will be used by a relationship manager to create an avatar for a client, and AI will also be used in these other parts of client service. Kiya.ai said in a statement when the information came out that Kiyaverse gives financial institutions “CMO insights, product performance, risk assessment, and channel analytics.”
Mirjankar says, “Our product roadmap includes interoperability with other metaverses and interaction with CBDC,” so that the Metaverse can have open financial markets.