Meta Bank | Tech Mahindra

Meta Bank

Overview

Tier 1 Indian PSU Bank - Journey to the Metaverse 
The Indian PSU Bank is more than 100years old, with 120+ million customers and a total business of US$106 billion. The biggest challenge for the bank is to remain and assert its existence as a forward-looking modern bank, which has changed with times.

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Key Challenges faced by the PSU Bank were
  • The younger generation was getting attracted to the large private banks and considered this bank as an age-old bank.
  • Getting information of the products and services of the bank was becoming complex on the website for another sector of people who are not as tech savvy.
  • Expansion of the any type of service would involve investments in expensive real estate.

Approach & Solutions

Tech Mahindra Makers Lab team understood the problem statement of the bank and suggested Metaverse to be an excellent platform for them to reinvent themselves.

TechM team provided a proposal with MVP and five phase plan to enable the Bank to launch and grow its services in the Metaverse.

Any client can enter the Metaverse, which is enabled in a web based interface.

The user can choose an avatar and walk into the Meta bank lounge.

S/he can view different products of the bank.

They can also add their details and submit a form which serves as lead generation channel for the bank.

Impact

  • Uni-verse propels UBI to be India's first bank to be in the metaverse and amongst a handful globally!
  • The launch of Uni-verse has generated significant interest from millennials and others who have been keen to experience the metaverse.
  • Uni-verse delivers realistic look and feel with various touch points in a pleasant environment.
  • This has been made available on the web with a very good quality.
  • Lead generation
  • Faster product/business service launches.