The Fact Maker

Tech Mahindra Partners with Union Bank of India to Launch India’s first PSU Metaverse Lounge “Uni-Verse”

To deliver a complete interactive and immersive experience across banking services (retail banking and SME banking)

Mumbai: Tech Mahindra, a leading provider of digital transformation, consulting and business re-engineering services and solutions announced a partnership with Union Bank of India (UBI). As a part of the partnership, for enabling Union Bank of India to be on Metaverse, Tech Mahindra worked with Union Bank of India to launch India’s first PSU Metaverse Lounge, “Uni-Verse”.

In the first phase, Tech Mahindra’s Research & Development (R&D) arm, Makers Lab, has built Metaverse ‘Virtual lounge’ for the bank to deliver an interactive and immersive customer experience. The lounge will help Union Bank of India to illustrate its digital & tech savvy image especially to its GenZ customers and enable them to explore the bank’s products and services in the Metaverse ecosystem.

Anuj Bhalla, Digital and Cloud Transformation Leader President & SBU Head, APJI Enterprise, Tech Mahindra, said, “Metaverse is going to define the future for digital ecosystems, transforming the way we will work, connect and interact. While digital banking is in itself independent, inclusive, and immersive, the introduction of Metaverse will further deepen customer relations and offer personalized experiences. Our partnership with Union Bank of India is yet another milestone in our journey of catalyzing future-readiness and transforming customer experiences. We are proud to collaborate with the Union Bank of India team to launch India’s first-ever PSU metaverse lounge, Uni-Verse.”

Uni-verse, the Metaverse Virtual Lounge of the bank, will deliver a unique experience of banking to the customers. The customers will be able to move around in the lounge, get information about deposits, loans, government welfare schemes, digital initiatives, etc.

Through this collaboration, Tech Mahindra will leverage its world-leading network and infrastructure capabilities along with its foundational technological capabilities including pervasive Artificial Intelligence (AI), Blockchain, 5G, Augmented Reality (AR), Virtual Reality (VR) to transform customer experience and deliver real business outcomes. This partnership is in line with Tech Mahindra’s NXT.NOWTM framework, which aims to enhance ‘Human Centric Experience’, and focuses on investing in emerging technologies and solutions that enables digital transformation and meet the evolving needs of the customer.