The opportunities of Augmented Reality in the financial sector

For a long time now, Augmented Reality has become part of people’s daily lives, which is based on the omnipresence of the smartphone. AR is making its appearance in consumer-oriented applications, including marketing, entertainment and even finance.

 

In the business world, efforts are being made to incorporate many of these technologies into services. Although it will take some time for Augmented Reality to gain a foothold in this sector, technology has begun to impact it through its various applications, including:

  • Data visualization: as the amount of data available is constantly increasing, as well as the need to rapidly gather the most complex trends, AR is working to bridge the gap between machine data analysis and human understanding. This technology can thus help analysts understand complex data flows and make decisions quickly.
  • Virtual Trading: some companies are making trading a virtual experience by creating virtual reality workstations for trading. This is achieved by introducing Virtual Reality into asset management software to give users better access to trading algorithms and tools.

 

 

  • Virtual reality payments: some companies are even making payments a virtual experience. For example, MasterCard has worked with AR to create a world where consumers can shop without leaving the virtual world.
  • Security: in order to create a more secure customer experience, biometric security could be introduced into an AR system that could then connect to a VR world. These could be used to access VR banking services, make ATM transactions or make payments.
  • Financial education: for both employees and customers of financial institutions, education is important to understand the constant changes in the financial world.
  • Customer service: many financial institutions also use AR and VR to improve their customers’ experience. Many banks have AR apps that help customers find the nearest banks and ATMs. In addition, some real estate companies have apps that allow customers to pass and scan homes with their phones or tablets to get more detailed information about the property.
  • Virtual Branches: digital-only banks and mobile banks already exist. But one day, soon, you will be able to go to a virtual bank. If customers cannot visit a physical branch for any reason, there will soon be a chance to go to a virtual branch. This experience is not only useful for customers, but also reduces costs for banks as they no longer need to invest in physical locations.
  • Recruitment and training: in order to provide high quality services to clients, financial institutions need to make sure they recruit the best talent and train all employees. Some banks are using VR expertise to show new hires in the technology sector how innovative and technologically advanced the bank is.
  • Customer acquisition: Millennials are a generation that has grown up with technology and need systems that evolve with them. In fact, according to the Millennial Disruption Index data, 73% of Millennials look to Google, PayPal and Apple for financial products, unlike local banks. So banks and other institutions trying to attract this generation are incorporating more technology, including AR and VR, into their systems to attract and retain customers.

 

Realtà Aumentata nel settore finanziario

A glance at education

Among the opportunities of introducing HR in the banking field one could also identify an engaging learning experience to educate children and young people about money.

As far as money management and personal finance are concerned, the education systems currently in place leave something to be desired. Teaching children how to save, invest and manage money and how to make various other smart financial decisions is much more effective with Virtual and Augmented Reality. It seeks to make money management engaging, interactive and fun, so as to provide students with the skills and confidence to make smart financial decisions.

Realtà Aumentata nel settore finanziario

The future of banking


The future of the banking sector has been inaugurated with the help of emerging technologies that have made the entire digital banking experience less tiring. The days of brick and mortar banks where you had to stand in line are over, as more and more banks are leveraging online and digital channels to reach the next generation of customers. Augmented Reality is leading the way to the future of banking technology. AR uniquely adapts to the needs of financial technology and, for this reason, combining research and analysis of consumer data with advanced technology can be the lifeline to keep traditional banks alive and relevant in an increasingly mobile and digital marketplace.

Do you want to learn more about high-tech? Read:

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Negli ultimi dieci anni l’applicazione della realtà aumentata ha esteso il suo raggio d’azione anche nel campo della psicologia e della psicoterapia.
Questa tecnologia è stata impiegata nel trattamento di diversi disturbi, come ad esempio le fobie, i disturbi correlati allo stress, la depressione, i disturbi alimentari e il dolore cronico.
L’importanza della Realtà Aumentata nel campo della salute mentale è ancorato a tre concetti principali:

  • L’AR è una tecnologia immaginativa: le persone possono sentirsi “come se” in una realtà che non esiste nel mondo esterno.
  • L’AR è una tecnologia incarnata: si vive l’esperienza di sentire il proprio corpo all’interno di un ambiente virtuale.
  • L’AR è una tecnologia di connettività, la fine dei confini.

Stiamo per esplorare le opportunità fornite dalla Realtà Aumentata come una tecnologia volta a migliorare la qualità della vita delle persone.

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