BBK, Bahrain's pioneer in retail and commercial banking, has announced the launch of BBK Virtual; an immersive three-dimensional banking experience accessed through the metaverse. BBK is the first bank in the Kingdom of Bahrain to harness this growing technology which is being lauded as the 3D version of the internet.
The metaverse allows users to create an avatar and enter a virtual reality from the comfort of their home or elsewhere. The simulated environment provides the impression of a real world but is artificially generated; combining the personal aspects of reality with the convenience of the virtual realm.
BBK has continuously been at the forefront of technological innovation and the Bank wants to provide its customer base with new ways of accessing information about the services provided. Younger customers, increasingly reliant on technology are the target demographic for this innovation and the BBK Virtual experience will provide a banking experience which complements the modern financial landscape.
For many of BBK’s customers, the BBK Virtual experience will be their first venture into the metaverse, nonetheless the experience is designed to be incredibly user-friendly and the virtual client will feel as if he or she is physically visiting the Bank’s branch. BBK Virtual includes an immersive learning experience which will enable users to learn about navigating the bank’s metaverse sphere while helping them to experience the Bank in virtual reality by using their mobile phones, tablets or VR googles. Those entering BBK Virtual will be able to do so through the BBK website or through the Bank’s social media channels and will also be able to view its feed containing information concerning its latest product updates and offers.
Speaking during the launch, BBK’s Group Chief Executive, Dr. AbdulRahman Saif said “This new service comes within the bank's digital transformation initiatives. We are delighted to announce the launch of BBK Virtual and in doing so, we’ve become the first bank in Bahrain and one of the first in the Gulf Region to offer our customers a metaverse experience. BBK aims to be at the forefront of technological innovation; utilizing exciting new technologies such as Virtual Reality and as such. BBK Virtual introduces a new and exciting way to interact with the bank as we believe that this will be especially appealing to the younger generation who are already immersed in the digital and technological world.”
“At BBK, we are continually anticipating the interests and requirements of the younger generation. Young Bahrainis are active users and adopters of technology and the use of smart phones, tablets and other devices is very high throughout the Kingdom. With the introduction of a virtual BBK world, we are solidifying – and preparing for – the customer base of the future with an exciting, gamified, immersive product that will entertain as well as educate.”
Dr. Saif concluded by affirming that BBK's strategy plan prioritizes adapting to future requirements and meeting customer expectations, as well as improving cyber security for all transactions and providing the best digital financial services in the Kingdom of Bahrain.
The metaverse is still a developing concept with evolving technology and, as such, no transactions or regulated activity will take place on BBK Virtual and no customer data is collected or held in the metaverse. BBK Virtual seeks to get customers up to speed ahead of transactional banking becoming a possibility within the metaverse realm.
BBK has confirmed that it is prepared for the future in terms of technology, commercial infrastructure, privacy and manpower. The bank will continue to harness the metaverse and its applications in order to serve its customers and maintain its status as an industry leader when it comes to integrating this technology within the financial and banking industry.