The Use Of VR Technology To Create Virtual Bank Branches Essay

Everyone of us in this world is looking for COMFORT in every situation of life, then why not “Banking with Comfort”. Banking with comfort can be a great boon to this world and can help reduce the hassle that we might face sometimes when we have to visit the branches of banks for our financial works.

This boon can be achieved by VR Technology through which we convert all the Physical Bank Branches to Virtual Bank Branches which creates a memorable and an engaging banking experience to the customers. We don’t have to stand in long queues and wait for our turn to get the work done which saves a lot of time & effort.

It will also be a great boon for the people who are aged or the one who find it difficult to physically visit a bank branch to get their work done.The major banking experiences that we have in a physical space are that when we enter the bank we see a reception at the starting with a receptionist sitting over there to hear your queries and then redirecting you to the concerned person/department to get your work done. Same experience can be made possible in a VR Bank Branch also by creating an AI-powered character that guides customers and answers their questions, therefore removing the human element (and its related costs).

A physical bank branch makes the customer feel very approachable, authentic and systematic with fine processes. The same thing can be also achieved with VR for a Virtual Bank Branch if all the algorithms are set right with proper processes creating the same feeling as the physical bank branch.In a Virtual Bank Space all the different sub-divisions can be merged into one, thus simplifying the whole system rather than having separate division with separate people as in a physical bank space. We can also simplify the Language Communication part played by the bank employees for their customers by embedding all the required languages in one single machine and it automatically judges the customer’s language in which he/she is speaking and then responds to them in the same language with the help of AI. This will be very beneficial for the immigrants from different parts of the world as they don’t have to face the issue of communication.

Virtual space should be realistic to create and project the same experience to the end user as they have in a physical space so that the end user doesn’t feels any difference in the functioning of the bank and gets all the work done as it is done in a physical bank branch.

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