Virtual reality and the banking experience

Abstract

As online banking has become today’s ubiquitous standard, banks are making predictions about the future of in-person customer interaction. In an effort to reimagine the way banks use digital vehicles to enhance and improve customer experience, the authors' organisation embarked on a study to research and develop ideas for employing virtual and augmented reality to drive branch innovation. This paper discusses how virtual reality offers an effective and cost-efficient way to see, experience and test novel retail bank environments before a single brick is laid. Coupling cutting-edge tools like virtual reality with service design methodologies enables banks to realise new ideas for virtual and in-person interactions that will speak to tomorrow's bank customer.