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Mixed Reality: A New Era in Banking

 

Ilakkiaselvan Subbiah

User Experience Consultant, Banking, Financial Services, and Insurance, TCS

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Elevating customer experience with a tinge of mixed reality

Soaring expectations around customer experience in the financial services industry have created difficulties for incumbents. While banks are adopting analytics and artificial intelligence to catch up with new entrants who are exploiting digital technologies to deliver superior experience, the next most significant technology that will prove to be a game-changer is mixed reality. A combination of virtual and augmented reality, mixed reality has the potential to reimagine customer experience by enabling immersive, natural interactions.

Given that mixed reality has the potential to transform consumer banking as we know it, banks must proactively take steps to adopt this technology. Establishing the right technology and IT infrastructure will be key and this will require banks to focus on the following aspects:

  • Build an intelligent personalization engine powered by big data technologies to cull out smart, actionable customer insights
  • Adopt the right design methodology with focus on the physical (real world) space, user inputs, the 3D model, and sound to craft customer-centric offerings

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