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Virtual reality and the banking experience

Author

Listed:
  • Weise, Sarah
  • Mshar, Andrew

Abstract

As online banking has become today’s ubiquitous standard, banks are making predictions about the future of in-person customer interaction. In an effort to reimagine the way banks use digital vehicles to enhance and improve customer experience, the authors' organisation embarked on a study to research and develop ideas for employing virtual and augmented reality to drive branch innovation. This paper discusses how virtual reality offers an effective and cost-efficient way to see, experience and test novel retail bank environments before a single brick is laid. Coupling cutting-edge tools like virtual reality with service design methodologies enables banks to realise new ideas for virtual and in-person interactions that will speak to tomorrow's bank customer.

Suggested Citation

  • Weise, Sarah & Mshar, Andrew, 2016. "Virtual reality and the banking experience," Journal of Digital Banking, Henry Stewart Publications, vol. 1(2), pages 146-152, September.
    • Handle: RePEc:aza:jdb000:y:2016:v:1:i:2:p:146-152
    as

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    More about this item

    Keywords

    virtual reality; design thinking; user experience; customer experience; service design;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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