Opentrends presents the latest solutions in the Metaverse for the financial sector

April 20 2022

Opentrends, the technology consultancy firm specialized in digital transformation solutions, is holding an online event on April 21 dedicated to the main trends of the Metaverse in the banking sector. Under the title “Metaverse in the financial sector: challenges and opportunities”, the event is organized jointly with the Institut d’Estudis Financers (“Institute of Financial Studies” or IEF).

The session, presented by the Executive Director of the IEF, Ferran Teixes, will be attended by Xavier Buscallà, founder, managing partner, Service Manager for the Financial Sector and General Manager of Opentrends Inc, and Carles Roca, Opentrends’ Senior Account Manager for Spain and the US, and specialist in this sector. They both will offer the firm's view on the opportunities that the Metaverse opens up for the banking business and will share data on the current market, the latest available technologies and some of the most relevant use cases at present.

Opentrends presenta lo último en soluciones en el metaverso para el sector financiero

“We want to show attendees the types of metaverse that currently exist, the technologies available to enter this new world, what has changed and why it is interesting just right now", explains Xavier Buscallà. “We will also share specific use cases in areas such as customer relations, PR, training, Augmented Reality, onboarding, simulation, etc.”.

The webinar will begin with an analysis of the taxonomy of the Metaverse and its modalities (metaverse, multiverse and Omniverse), and a presentation of its different "layers": experience, discovery, creation and design, spatial computing, decentralization, human interfaces and infrastructures. The diverse types of realities (simulation in real environments, simulation in virtual environments and Mixed Reality) will also be addressed.

“From the point of view of technology, there are clear trends such as AI, Blockchain, Cloud, graphic process, Oculus, VR and AR, among others”, explains Carles Roca. "The environment, meanwhile, is also favorable, with users increasingly used to video conferences, the 'gamer' culture and the use of devices, as well as a growing trend towards delocalized and global work models". 

Finally, Opentrends experts highlight the investment of the big players (Meta, Microsoft, Nvidia, etc.) and the increasingly clear trend towards a 3D Internet (WEB3).

Roadmap of the banking metaverse

As the second major block within the presentation, Opentrends experts will talk about how traditional banking is incorporating electronic banking in order to replace individual interactions in the physical space, in a gradual but unstoppable process towards digitization.

Roadmap del metaverso en banca

“We still have not finished incorporating Open banking and we are already beyond it”, says Buscallà. “We have seen the birth of exclusively digital banks, neo banks and new markets. Now, we have entered the era of 'Banking as a Service', and more specifically of 'Metaverse Banking'”.

During their presentation, Opentrends experts will discuss the need for a reliable economic system for the exchange of assets, and will also bring up topics such as the digitization of processes, generation of new customer journeys, decentralization of finances with Blockchain and Web 3.0, NFT, tokenization of assets, wallets and other digital assets. To show all these opportunities, the speakers will share many current examples such as those of Bank of America, Citibank, JP Morgan or the New York Stock Exchange.

Lastly, in the meeting there will be shown some practical examples about e-commerce, showrooms and stores in the Metaverse, or the new economy of games, as well as issues of legal security such as digital identity, brand protection or fiscal aspects.

About Opentrends

With more than 18 years in the market, Opentrends joins together talent, technology, creativity and innovation to put companies on the path of digital transformation through disruptive business models and the creation of sustainable competitive advantages. With a team of over 350 professionals in Barcelona, ​​Madrid, India and Silicon Valley, Opentrends has clients of the likes of GB Foods, Generalitat de Catalunya, Madrid Digital, Universitat Oberta de Catalunya or the World Tourism Organization, among others.