Opportunities for Financial Leaders: Take action today and build value for tomorrow
Executives in the financial services industry face challenging customer relationship questions, including: How do we deepen and expand digital customer connections? Or balance cybersecurity, trust, and demand enablement? Can we innovate in financial services to get ahead in the digital race and create new models of customer engagement?
Security, privacy, personalization, and digital evolution – these are important, interconnected and challenging questions. Hype or no hype, virtual reality might just hold the key to balancing these sometimes competing components of trust in the digital realm.
Building on Banking’s Trust Cornerstone
Trust is banking’s foundational building block. This trust has been built over time, and off of human relationships, tangible experiences and personalized care. However, to thrive in today’s rapidly evolving digital landscape, banks are being called on to deliver stronger and more collaborative relationships with their customers.
The bank is a trusted space, whether at branch or digitally; trusting our banks is an unspoken rule. Digital technologies enable banks to build on this trust, deepen and build on their customer knowledge, and extract greater value by developing actionable insights, contextualizing and responding to signals relevant to the particular customer’s lifecycle, habits and needs
“OpenDome is a next iteration of Flybits’ unique data and contextual personalization capability. It is the first digital banking platform for creating immersive virtual world experiences.”
OpenDome Overcomes VR’s Data and Security Challenge
Traditionally, a significant barrier to data and technological innovation in regulated industries like banking has been the additional regulatory requirements and compliance costs, in time and money. The promising potential of consumer technology cannot be realized unless stringent regulatory requirements for data utilization are met.
But, having internalized the costs of regulations and compliance requirements means that banks are, in fact, in a position of strength to responsibly innovate in the virtual space, as long as they have the right partner—and that’s where Flybits comes in.
Flybits has developed platforms that allow bank customers to engage with their financial information and relationships, in secure, scalable and easily editable 3D spaces for both personal and commercial financial planning and literacy.
Flybits’ OpenDome is the first-ever platform enabling banks to create 3D and immersive virtual experiences using a combination of proprietary, partner-driven, and open data.
- OpenDome allows financial institutions to create virtual spaces that can gather and integrate data from a multitude of sources (“Open”) beneath a digital shield that provides full data privacy and security, all with the customer’s consent (“Dome”).
- OpenDome is a next iteration of Flybits’ unique data and contextual personalization capability. It is the first digital banking platform for creating immersive virtual world experiences.
Crucially, when financial institutions and their customers use OpenDome, platform security is the ‘dome’ that allows them to safely engage in a new kind of deeply personal and contextual financial planning. This means the power of data and decision-making can be put into the hands of their customers, guided by the financial institution.
“Nestor will also integrate with OpenDome to anticipate and plan for future engagement moments, using reactive AI systems that respond to specific customer prompts.”
OpenDome Meets Nestor – A Generative AI Expansion
As more and more people migrate to virtual reality, Flybits is integrating its OpenDome platform technology with Nestor, Flybits’ new Generative AI integration.
Operating securely, Nestor will act as a concierge to customer experience design teams by working off a user’s contextual information to deliver personalized experiences through an intuitive, prompt-based interface, thereby bringing speed and efficiency to the process of creating, optimizing and delivering immersive customer experiences.
Nestor will also integrate with OpenDome to anticipate and plan for future engagement moments, using reactive AI systems that respond to specific customer prompts. Here are some of the other features that Nestor will offer in OpenDome:
User Modelling:
Regularly generating and updating user models by analysing the end-user’s engagements, activities, and behaviors, with the consent of the individual themselves.
Personalized Recommendations:
Making use of those user models to generate personalized recommendations for relevant information, products and services that are fully aligned with individual customer needs.
Conversational and Participatory Interface:
Offering a conversational tool to end users, providing guidance on common financial inquiries and prompting relevant questions and clarifications.
So, what does this all mean for your customers?
Imagine your customer is embarking on a journey, not to a far-off land, but through the intricacies of their financial present and future – diving into their goals, needs and risks, or facing complex decisions and trade-offs.
Now imagine they have access to an immersive environment designed around their need to better understand and plan, with the perfect combination of intelligent tools, privacy-preserved personalized experiences, and secure advice to help them make the right choice.
If you want to learn more about the future of financial experiences, one personalized virtual experience at a time, check out our guide on Banks and the Metaverse: Opportunities for Today and Tomorrow.
Click ahead to see how OpenDome is creating a wholly immersive finance experience
