A Major Investment Bank Brought Its Financial Advice To The Metaverse

We knew that there would be business meetings, concerts, and public meetings. Today, the Metaverse has become a meeting place for individual customers. “Face to face” to talk about important things, such as how to invest your money in the stock market.

The pioneers were the Swiss banks UBS and Julius Baer. They provide financial advice to clients with assets worth a few billion, directly in the Metaverse, using viewers and avatars.

The executives of both banks said that, although it was an experiment, the results were encouraging and the quality of the advice was very good.

This initiative opens up new opportunities for the financial sector, but also for many others: any company or professional could make personalized consultancy available to its customers within the Metaverse.

THE ADVANTAGES OF CONSULTING IN THE METAVERSE COMPARED TO A VIDEO CALL

– It is as if we were in the same room. Augmented reality and virtual reality allow us to simulate a tangible presence, even if in reality we are physically distant.

– We don’t have to worry about technology. Put on the headset and the avatar will do the rest.

– It is a controlled environment. We can create the environment we want, without distractions or elements that do not interest us.

– We can record our consultation. This can be useful for both us and our clients, who can review the interview whenever they want.

In short, consultations in the Metaverse offer many advantages over classic video calls or live meetings. It will be interesting to follow the evolution of this new mode of interaction between professionals and customers.

ATTENTION TO SECURITY

According to the Financial Times, the main problem would be security.

– The two banks have actually noticed problems relating to this in the test they carried out.

It remains unlikely that the service will be implemented in a few weeks.

But it is clear that if the banks manage to solve this problem, other sectors can also benefit greatly from consulting in the Metaverse.

What are the security concerns?

– The first concern is the falsification of identity: if we have no way of verifying who is hiding behind an avatar, people with not very honest intentions could take advantage of it.

– Then there is the problem of data protection. Consultations in the Metaverse could also involve sensitive financial data. If that gets into the wrong hands, there could be a safety risk for customers.

– Finally, there is a lack of rules. At the moment there is no regulatory framework that regulates these consultations, so it is difficult to establish who has responsibility in the case of a problem.

Despite these problems, the potential of consultancy in the Metaverse could soon become a consolidated reality.

WHICH FUTURE?

The future of consultancy in the Metaverse is still to be written.

For the moment it is a very interesting mode of interaction, which offers numerous advantages over classic video calls or live meetings.

There are many who are investing in the virtual world, beyond who is creating these three-dimensional digital spaces.

In recent years, the same asset management companies have also begun to invest heavily in this technology. Just to give new services to customers, more efficient and effective services.

– For two years, UBS CEO Ralph Hamers has prioritized investments in digital technology to reduce costs and differentiate the offer.

For PwC, on the other hand, in 2035 10% of GDP will be generated by the virtual world.

There has been a lot of talk over the past few months about how work will change due to the pandemic, but what is actually changing is the way people interact with each other.

The consultations in the Metaverse are a concrete example of this change: a modality of interaction that until recently seemed pure fantasy, but which today has become reality.

THOSE THAT HAVE TESTED WORK INTERVIEWS IN THE METAVERSE

In Italy, an experience of this kind was recently tested by the start-up Jobandtalent.

The service connects companies and candidates, allowing them to overcome the traditional difficulties in the recruiting process.

Companies can be present with their own brand within the virtual space and candidates can choose to interact directly with the company or with professionals in the sector.

The interviews take place in real virtual rooms, where it is possible to see the interlocutor in 3D and interact with him as if it were a live meeting.

The experience is very interesting for both companies and candidates, as it offers numerous advantages over traditional recruiting processes.

US companies such as KPMG and EY have also begun testing this mode of interaction, both for job interviews and financial advice.

The two companies recently announced a partnership with the American company AltspaceVR, which specializes in the creation of 3D virtual spaces.

The partnership will allow the two companies to offer their customers new services in the virtual world, such as financial advice.

In addition, the partnership will allow companies to test new ways of interacting with their customers, such as job interviews.

AltspaceVR is one of the most advanced platforms for creating 3D virtual spaces and offers numerous advantages over other platforms available on the market.

AltspaceVR allows users to interact with each other in a very natural way, as if it were a live meeting.

In addition, the platform offers numerous advanced features, such as the ability to create real virtual rooms in which users can interact with each other.

AltspaceVR is a very interesting platform for companies that want to test new ways of interacting with their customers.

DESPITE THE DECREASE IN RECENT NEWS, THE METAVERSE IS THE NEW FRONTIER TO BET ON

Despite the negative impact on the economy worldwide, the virtual world continues to grow and evolve. Although few are attending it.

Asset management companies are investing more and more in this technology and services in the virtual world are becoming increasingly widespread.

It will happen, as it happened to the Zoom platform, which became well-known and grew in a very short time. The lockdowns have made it clear how comfortable it is to have meetings on Zoom and such tools.

Everything will happen when people understand that using services in there gives more opportunities and takes nothing away from real life.

The metaverse is not a parallel world, but a world that joins the physical one and completes it.

The fact is that recent changes have happened. It is as if the masses are moving all together thanks to the means of communication that tell what is happening around the world in real time.

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