• Tech Mahindra has synergised with Union Bank of India for launch of India’s first PSU Metaverse Lounge which is known as “Uni-Verse”
• Customers will have a one-of-a-kind banking experience led by bank’s Metaverse Virtual Lounge.
• Metaverse will define the future for digital ecosystems, transforming the way we will work, connect, and interact

Tech Mahindra has announced a collaboration with Union Bank of India (UBI) to enable Union Bank of India to be present on Metaverse. Under the terms of collaboration, Tech Mahindra has synergised with Union Bank of India for launch of India’s first PSU Metaverse Lounge which is known as “Uni-Verse”.

Customers will have a one-of-a-kind banking experience led by bank’s Metaverse Virtual Lounge. Customers will be able to move around the lounge and obtain information about deposits, loans, government welfare programmes, digital initiatives, and so on.

Makers Lab, Tech Mahindra’s R&D arm, has created a Metaverse ‘Virtual lounge’ for the bank to provide an interactive and immersive customer experience. The lounge will assist Union Bank of India in projecting a digital and tech-savvy image to its GenZ customers, allowing them to explore the bank’s products and services in the Metaverse ecosystem.

Metaverse is going to define the future for digital ecosystems, transforming the way we will work, connect, and interact, said  Anuj Bhalla, Digital and Cloud Transformation Leader President & SBU Head, APJI Enterprise, Tech Mahindra. While digital banking is self-contained, inclusive, and immersive in and of itself, the addition of Metaverse will deepen customer relationships and provide personalised experiences.

Tech Mahindra will transform customer experiences and deliver real business outcomes by leveraging its world-leading network and infrastructure capabilities, as well as its foundational technological capabilities such as pervasive Artificial Intelligence (AI), Blockchain, 5G, Augmented Reality (AR), and Virtual Reality (VR). This collaboration aligns with Tech Mahindra’s NXT.NOWTM framework, which aims to improve ‘Human Centric Experience’ by investing in emerging technologies and solutions that enable digital transformation and meet the evolving needs of the customer.

Earlier in July, Union Bank of India announced the launch of Metaverse Virtual Lounge and Open Banking Sandbox environment to provide customers with a unique banking experience.

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