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Redefining banking : tracing the journey of Union Bank of India metaverse adoption / Divya Mishra, Nidhi Maheshwari, Sanjeev Malhotra.
- Format:
- Book
- Author/Creator:
- Mishra, Divya, author.
- Maheshwari, Nidhi, author.
- Malhotra, Sanjeev, author.
- Series:
- SAGE business cases.
- SAGE business cases
- Language:
- English
- Subjects (All):
- Banks and banking--Technological innovations--Case studies.
- Banks and banking.
- Metaverse--Case studies.
- Metaverse.
- Physical Description:
- 1 online resource : illustrations.
- Place of Publication:
- London : SAGE Publications: SAGE Business Cases Originals, 2026.
- Summary:
- Union Bank of India (UBI), a leading public sector bank established in 1919, embarked on a digital transformation journey in 2022 to address critical organizational challenges, including outdated processes, high levels of non-performing assets, and a lag in adopting modern banking technologies. Partnering with Tech Mahindra, UBI became the first public sector bank in India to launch a Metaverse platform, "Uni-Verse," offering immersive virtual banking experiences. Led by Chief Technology Officer Anil Kuril, the initiative aimed to revolutionize customer engagement, streamline operations, and create a flexible work culture by integrating cutting-edge technologies such as augmented reality (AR), virtual reality (VR), AR/VR, blockchain, artificial intelligence (AI), and Web3. This case study highlights UBI's strategic approach to implementing the Metaverse, emphasizing the planning, infrastructure, and security measures required for successful deployment. Despite its successes, UBI faced challenges, including balancing innovation with security and resource allocation between traditional and digital banking services. The case provides valuable insights into navigating the complexities of digital transformation in legacy organizations and the potential of Metaverse technology to reshape the future of banking.
- Notes:
- Description based on XML content.
- ISBN:
- 979-83-488-3344-2
- OCLC:
- 1569208606
- Publisher Number:
- T299218
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