Banks bet on the "metaverse" track fleeting or break the game forward

The metaverse concept has become popular, and it has also attracted the attention of banks and followed suit. Recently, Beijing Zhongke Jincai Technology Co., Ltd. (hereinafter referred to as "Zhongke Jincai") issued an announcement saying that it won the bid for the Yuanverse Bank project of the Bank of Shanghai. Services and other application scenarios, to create a metaverse bank.

Prior to this, many banks such as Agricultural Bank of China, Postal Savings Bank of China, Baixin Bank, Bank of Nanjing, etc. have also made plans for metaverse applications, and the exploration paths mainly cover three categories: digital employees, digital collections, and virtual business halls.

01******The bank "falls in love" with the Metaverse *****

Another local bank ushered in the latest progress in its deployment of metaverse business. Recently, Zhongke Jincai issued an announcement saying that it won the bid for the Metaverse Bank project of the Bank of Shanghai.

It is understood that the Bank of Shanghai Metaverse Bank project will use artificial intelligence, virtual reality and other technologies to create an online metaverse version of mobile banking, and select application scenarios such as wealth management halls, metaverse business halls, and auto financial services to create highly immersive and good users. And interactive experience, a metaverse bank with social attributes. The project aims to use the concept of Metaverse to match the emotional value and aesthetic experience of young people today, and to build the Bank of Shanghai Metaverse bank application on mobile banking.

Following technological innovation, banks have always been at the forefront. As an important direction of the future digital economy, the Metaverse has been laid out by many banks. The most typical ones are the three categories of digital employees, digital collections, and Metaverse business halls. **In December 2021, Baixin Bank officially launched AIYA, a virtual digital employee, for immersive communication and interaction with users; Jiangnan Rural Commercial Bank launched a business-handling digital human "Yanxi VTM digital employee", which can complete business handling , active service, risk control compliance and other full-process services.

Agricultural Bank of China, Postal Savings Bank of China, China Everbright Bank, Huaxia Bank, Bank of Nanjing, Qilu Bank, Bank of Xi'an and other banks explore digital collections, introduce the concept of digital collections into marketing layout, and enhance brand image and ability to acquire and retain customers; Industrial and Commercial Bank of China The "VR Metaverse Virtual Business Hall" was launched, and Bank of Nanjing launched the Metaverse digital space "Hello World", empowering product marketing services and customer services through the Metaverse.

At a time when financial services are becoming increasingly homogeneous, Metaverse undoubtedly provides a new way for banks to explore diversified financial services. Su Xiaorui, a senior consultant in the financial industry at Analysys Analysis, said that in the Metaverse world with an economic system, ** provides users with virtual financial services, expands richer consumption and transaction scenarios, and creates interactive and immersive experiences for users. Experience, etc. are the main contents of the financial metaverse. **However, the metaverse is still in the start-up period, and neither the technical conditions, operating rules nor application scenarios are mature, so it is mainly the strategic layout and planning in advance.

02********************** Opportunities and challenges coexist******************** ***

For banking retail, whoever wins the scene wins the world. In January 2022, the "Financial Technology Development Plan 2022-2025" issued by the People's Bank of China proposes that visual technologies such as augmented reality (AR) and mixed reality (MR) will Integrate deeply with the banking scene, promote the upgrading of physical outlets to multi-modal, immersive, and interactive smart outlets, and open up policy space for the layout of the metaverse of banks.

At present, banks are gradually carrying out technological exploration and innovative applications in the metaverse field, but judging from the actual effect, they are still stuck in providing immersive experience, virtual and real integration and interaction, leading the idea of empowering comprehensive scene finance for the metaverse Not yet clear. **

Yu Baicheng, the chief researcher of Houxue Research, analyzed that the virtual digital people, digital collections, and virtual business halls currently launched by banks are an integral part or primary form of the Metaverse, but they are far from mature. In addition, as a financial institution, banks have certain room for integration with the Metaverse, such as building a Metaverse financial scene platform, becoming a service provider and payment institution for digital asset transactions in the Metaverse, etc.

Metaverse is an important carrier for banks to explore business growth sources, but the core of future financial services still lies in user experience and customer needs. However, during the exploration process, banks also need to predict related risks in advance. **Su Xiaorui suggested, “The input cost related to Metaverse deserves attention. In addition, as a new thing, Metaverse uses a lot of new technologies. How to balance the efficiency and safety of technology needs to be measured. Banks should fully integrate their own resources Endowment, differentiated exploration of the layout of metaverse business, also need to pay attention to relevant copyright, content and other compliance work, and carefully sort out the legal issues that may be involved to avoid disputes.”