Union Bank of India launches MetaVerse Lounge and Open Banking Sandbox environment

Hyderabad, July 09, 2022: Union Bank of India today announced the launch of Metaverse Virtual Lounge & Open Banking Sandbox environment at an event held in Mumbai.

Uni-verse, the Metaverse Virtual Lounge of the Bank, hosts Bank’s products information and Videos in the initial phase. Uni-verse will deliver a unique experience of Banking to the Customers who can roam around the Lounge, and get information on the Bank’s Deposit, Loan, Govt. Welfare Schemes, Digital initiatives, etc. as if they are experiencing the real world. This initiative is in partnership with M/s Tech Mahindra.

Union Bank of India also launched Open Banking Sandbox environment through which it will collaborate with Fin Techs and Start-Up partners for developing and launching innovative Banking products. Sandbox environment empowers Fin Techs and developers by providing a platform that will realize their ideas.

Ms. A Manimekhalai, MD&CEO, Union Bank of India, affirmed the Bank’s adoption of the latest technologies including Metaverse which transforms Customer’s Banking experience to another level. Further, with the launch of Sandbox, Bank is ushering into an Open Banking environment that will not only turn Third Party developers’ innovative ideas into reality but will also pave the path for new avenues.

Shri Nitesh Ranjan, Executive Director, Union Bank of India, reiterated the Bank’s commitment to facilitating innovative Banking experiences to its customers through the launch of Metaverse and Sandbox.