BANKS AND BYTES
Business Today India|February 19, 2023
IN THE NEXT 25 YEARS, GROUND-BREAKING TECH LIKE METAVERSE, THE ACCOUNT AGGREGATOR PLATFORM, DIGITAL CURRENCY AND UPI WILL CHANGE THE FACE OF THE INDIAN BANKING INDUSTRY
BY ANAND ADHIKARI
BANKS AND BYTES

DIGITAL PAYMENTS DOMINATE

TOTAL PAYMENTS ₹1,810.51 LAKH CRORE TOTAL DIGITAL PAYMENTS ₹1,744.01 LAKH CRORE

UPI'S TURNOVER IS SMALL BUT GROWING FASTER THAN CARDS AND OTHER DIGITAL MODES

TOTAL RETAIL PAYMENTS ₹523.4 LAKH CRORE NEFT ₹287.25 LAKH CRORE UPI PAYMENTS

SOURCE PAYMENTS AND SETTLEMENT STATISTICS FY22, RBI ₹84.15 LAKH CRORE CARD PAYMENTS ₹17.01 LAKH CRORE

At Union Bank of India’s metaverse banking offering, you have three choices to select your avatar. Universe, as the state-owned bank calls its hi-tech offering, logs you in directly outside the bank’s branch. Do keep in mind that you need to enter the branch via the proper gate. So if you’re doing this for the first time, navigating to the entry point alone will take you a few minutes. Once inside, you come across a massive virtual lobby with LED screens on both sides. There is an avatar of a branch manager sitting at the far corner. On the right, there are counters with screens for banking services and customer service. On the left, there are wealth management and digital lending counters. In case you are interested in understanding the journey of the bank, there is a screen to take you through its history since inception. While Union Bank’s initiative cannot be strictly called the metaverse, it is a scenario closer to reality, which enables customers to experiment and then choose a banking product. This is the first step banks are taking to create a virtual branch.

この記事は Business Today India の February 19, 2023 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は Business Today India の February 19, 2023 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

BUSINESS TODAY INDIAのその他の記事すべて表示
"Moving to cloud helped us grow❞
Business Today India

"Moving to cloud helped us grow❞

What was the problem you were grappling with?

time-read
1 min  |
November 24, 2024
She's Got Time
Business Today India

She's Got Time

MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP

time-read
3 分  |
November 24, 2024
RISING STAR
Business Today India

RISING STAR

PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.

time-read
1 min  |
November 24, 2024
Building on a Legacy
Business Today India

Building on a Legacy

WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.

time-read
1 min  |
November 24, 2024
LEADER IN INNOVATION
Business Today India

LEADER IN INNOVATION

AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.

time-read
1 min  |
November 24, 2024
WAITING IN THE WINGS
Business Today India

WAITING IN THE WINGS

Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025

time-read
1 min  |
November 24, 2024
A DECENT PROPOSAL
Business Today India

A DECENT PROPOSAL

IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?

time-read
5 分  |
November 24, 2024
Women and the STEM Bias
Business Today India

Women and the STEM Bias

EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.

time-read
3 分  |
November 24, 2024
ROCKET WOMEN
Business Today India

ROCKET WOMEN

WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.

time-read
6 分  |
November 24, 2024
ONE STEP FORWARD
Business Today India

ONE STEP FORWARD

THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.

time-read
6 分  |
November 24, 2024