Banking in Metaverse Opportunities and Challenges

Authors

  • Swapan Sarkar Department of Commerce, University of Calcutta, Kolkata

DOI:

https://doi.org/10.33516/maj.v58i1.63-67p

Keywords:

No Keywords.

Abstract

Digital revolution over the last two decades transformed the banking industry on many fronts. While it provided banks with a better system to offer its services over the internet in a seamless cost-effective mode, it also resulted in an emotional disconnect between banks and the customers. This, at times, can be quite costly for banks attempting to retain their customers. Banking in metaverse can provide an effective solution to this problem. In addition, it may further bring limitless opportunities that can improve banks’ bottom-line significantly. The present article attempts to explore those opportunities of banking in metaverse. It also prescribes strategies for banks to succeed in metaverse along with highlighting the challenges they need to overcome.

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Published

2023-01-01

How to Cite

Sarkar, S. (2023). Banking in Metaverse Opportunities and Challenges. The Management Accountant Journal, 58(1), 63–67. https://doi.org/10.33516/maj.v58i1.63-67p

Issue

Section

Cover Story

References

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Ayushi Abrol. (2022, September 15). 7 Key Technologies That Are Powering The Metaverse. https://www.blockchain-council.org/metaverse/technologies-powering-metaverse/#:~:text=AR%20%26%20VR,dimensional%20environments%20for%20the%20metaverse.

Hal Koss. (2022, October 6). What is the Metaverse,Really? Builtin.

J.P. Morgan. (n.d.). Opportunities in the metaverse.

Kevin Helms. (2022, January 24). Goldman Sachs Sees the Metaverse as $8 Trillion Opportunity. Metaverse.

M. Raffi Hasta Anggara, M. Reihan Davie, Mahanani Margani, Made Ayu Aristyana D, & Mahdiah Aulia. (2022). The Presence Of Commercial Banks In Metaverse’s Financial Ecosystem: Opportunities And Risks. Journal of Central Banking Law and Institutions, 1(3), 405–430.

XR Today. (2022, January 10). Metaverse Meaning – What is this New World Everyone’s Talking About? XR Today

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