Kiya.ai introduces India's first banking metaverse Kiyaverse

Kiya.ai, a digital solutions provider serving financial institutions and governments globally, on Thursday announced the launch of India’s first-ever banking metaverse - Kiyaverse.

Through Kiyaverse, Kiya.ai wants to enable consumers to transact, access banking information and avail various banking products virtually from the comfort of their homes.

In the first phase, banks will be allowed to roll-out their own metaverse for clients, partners and employees through service offerings that include relationship manager, peer avatars and robo-advisors. Kiyaverse plans to have tokens as NFTs and support CBDC to enable open finance in a Web3.0 environment.

“Kiyaverse will interface its open API connectors with Aggregators, and Gateways to enable a Super-App and Marketplace on the metaverse. With the introduction of Haptics enabled Headsets, Kiyaverse will provide a near real-world interaction using the internet of senses," the company said in its statement.

“While digital banking is functionally interdependent and inclusive, it is all too often seen as being emotionally detached. Metaverse allows banks to use cutting-edge technology with a human touch which will significantly deepen and personalise customer interaction. Kiyaverse offers meaningful applications in the Metaverse that apply to relevant business use cases in the real world. It will enable banks to harness the potential of enhanced UX to bring out the best outcomes for data visualisation and gamification of processes and procedures. Kiyaverse provides cross-functional multi-experience using personalised avatars across real world, mixed reality & virtual reality environments," said Rajesh Mirjankar, MD and CEO, Kiya.ai.

Customers will also be enabled to use their personalised avatars on digital banking units, mobiles, laptops, VR headsets and mixed reality environments. The platform will bring together banking services of the real and the virtual world, interacting with a relationship manager’s avatar creation and customisation, AI-based digital customer interaction, portfolio analysis, wealth management, co-lending, and corporate banking. “Kiyaverse provides 3-dimensional analysis of data for banks including CMO insights, product performance, risk analysis and channel analytics," Kiya.ai said in its statement.

“Our product roadmap includes integration with CBDC and interoperability with other metaverses to enable open finance in the Metaverse," said Mirjankar.