Indian IT & BFSI Bet On Metaverse, Here Is The Latest

India ranks 5th in the list of countries driving Metaverse. IT companies, banks, gaming companies, healthcare, and everyone else are running behind Metaverse. Indian tech giants like Infosys and Tech Mahindra have joined the bandwagon by coming up with dedicated centre and teams. They also have templatized solutions for the retail, telecom, and banking sectors.

Infosys had done a Metaverse project with The Open French. It is one of the most prestigious tennis tournaments in the world. Recently, they have extended their contract with Open French to focus on digital innovation of the game in the Metaverse.

Tech Mahindra has launched a TechMVerse which will help its customers transact in the Metaverse. They plan to create a car dealership centre in the Metaverse, a gaming centre, and a virtual bank. They have also made a dedicated team of 100, which will soon increase to 1,000 in a year.

Accenture began bringing on 150,000 new employees in the metaverse. It plans to have deep applications for specific industries on the client side. For example, it is working on ways for surgical teams to learn new procedures without having to simultaneously be in the same operating room.

Other service providers, like TCS, have made their first investments in the metaverse through their Extended Reality (XR) Lab, where a research and development (R&D) team is piloting and running several proofs of concept and use cases.

In the same way, HCL thinks that XR will grow in the next few years as companies obsessed with redefining the customer experience make services that work with XR a big part of their business.

Union Bank of India, a government owned public sector bank, has partnered with Tech Mahindra to open a virtual lounge and open a banking sandbox environment in the metaverse world. The virtual lounge is named ‘Uni-verse’ and it will provide customers all sorts of banking information like deposit rates, loan rates, government welfare scheme details and others.

As an extension of HDFC’s ‘BounceBack’ campaign, ‘Wobb’, the AI-driven influencer marketing platform, took the initiative to celebrate the resilience of students who dealt with several challenges during the pandemic. The brand hosted a virtual convocation ceremony for all students, teachers and parents to commemorate the batch in the metaverse.

Several sources claim that the country’s largest lender, the State Bank of India (SBI), is also in the final stages of launching its Metaverse store.