Punjab National Bank Launches its Virtual Branch ‘PNB Metaverse’

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Punjab National Bank (PNB), a government-owned bank, has introduced a virtual branch called PNB Metaverse. This innovative branch aims to offer a distinct banking experience to both existing and new customers. Through PNB Metaverse, customers can explore various products and services provided by the bank, including bank deposits, retail and MSME loans, digital offerings, special services for women and senior citizens, ‘Do It Yourself’ options, and government flagship schemes.

PNB has developed a virtual environment known as the Bank’s Metaverse Branch, granting exclusive access to esteemed customers. They can conveniently engage with the virtual branch through their mobile phones and laptops, right from the comfort of their homes or offices.

Customers will also enjoy an immersive 3D experience as they carry out traditional banking activities using their digital avatars. PNB Managing Director Atul Kumar Goel stated that this technology marks a new era of the internet, where a unified 3D environment replaces separate websites and apps. He further mentioned that PNB aims to enhance customer engagement, streamline the customer acquisition process, and deliver a highly personalized customer experience through this advanced technology.

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What is metaverse?

In science fiction, the “metaverse” is a hypothetical iteration of the Internet as a single, universal, and immersive virtual world that is facilitated by the use of virtual reality and augmented reality headsets.

Metaverse in the banking sector

In the last one-two years, the metaverse has gained massive traction among a range of industries, with banking being one of them. With virtual banking experience taking center stage, the industry is set for another massive revolution.

Morgan Stanley and Goldman Sachs found that the metaverse domain is set to be as big as $8 trillion in the coming time. In this market valuation, banks have a critical role to play. Using technologies like AR/VR and cryptocurrencies, banks will be able to reimagine how they interact with their customers and with what offerings.

  • JP Morgan –They have opened an Onyx lounge in Decentraland metaverse where they facilitate cross-border payments, financial assets creation, safekeeping, and trading.
  • HSBC– They have invested in a plot at The Sandbox metaverse, which will be developed for engaging with the gaming and esports fans.
  • Standard Chartered– The bank has also acquired land in The Sandbox, which it plans to use for experimenting and creating new experiences for clients on the metaverse.
  • Siam Commercial Bank– They are the first banking group to have built headquarters in The Sandbox. The space comes with three zones: a)A virtual hub: A space for events and knowledge sharing. b)Virtual land: A space for partnered businesses to connect over project development activities. c)Hub:It helps promote local artists via the NFT gallery, NFT marketplace, and virtual concerts.


  • Metaverse banking: Offer customers the ability to view their balance, pay the bills, and make transfers through AR/VR platforms.
  • Employee experiences: Deliver an immersive learning experience through simulated customer scenarios and onboarding remote workers with a feeling of community.
  • Personalized connect:In the metaverse, banks can give high-touch service to the customers by giving them a virtual look into the portfolio and expense revenue, having virtual financial planning sessions, and making well-strategized product recommendations.
  • Brand extension:Banks can extend their physical experience in the virtual world by mimicking events like ATMs cash withdrawals, branch placement and layout, and more. This would help customers feel connected with the bank.
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