BBVA’s Metaverse Move: Future of Banking?

In a forward-thinking move, BBVA has initiated a collaboration with Legendaryum Metaverse, looking into how immersive digital environments might reshape remote relationship dynamics internally and with their clients. This partnership has led to BBVA inaugurating a remote meeting room within Legendaryum. The core aim here is to understand the implications of these environments and how they redefine user interactions, subsequently informing the creation of specialized banking services.

The potential the metaverse holds for reshaping interactions between businesses and customers is vast, surrounded by curiosity and anticipation. Before rolling out new interaction models or designing specific products tailored for these channels, BBVA’s approach marks experimentation. As Iván Moreno from BBVA’s Strategy and Digital Assets division clarifies, “We need to understand the capabilities of these technologies, their possible technical limitations, risks and opportunities, and how to enhance the security and protection of users.”

The Immersive Meeting Room

BBVA’s experimental phase is highlighted by an immersive meeting room trial. This platform boasts a hyper-realistic design, targeting social gatherings, commercial hubs, and training and leisure spaces. Moreno sheds light on the venture, emphasizing, “We need to test it firsthand, and we have already held the first meetings and organized some remote training talks. Having this pilot space in a hyper-realistic scenario allows us to open up innovative ideas for applications or needs that, without having an environment in which to test them, would be difficult to anticipate.” He believes such testing grounds empower business sectors to conceive tools and functionalities that set these spaces apart.

Enhancing this experiment’s authenticity, Legendaryum has crafted a virtual counterpart of La Vela, BBVA’s landmark headquarters situated in Madrid.

The Greater Vision 

A testament to the aligned objectives of both entities, Ariel Burd, the CEO and co-founder of Metaverse Legendaryum, elaborates, “We are aligned with BBVA in the vision and strategy for building a great technological future, where the metaverse is not a simple marketing action, but an important utility tool, which evolves our day-to-day both internally and for global customers.”

Beyond technological exploration, BBVA also seeks to comprehend these spaces’ evolving perceptions and interaction modalities. Moreno observes, “Users have been interacting digitally for a long time through screens, buttons, drop-down lists, etc. By seeing how our own way of working changes in a metaverse, we could design products and services for the customer that take these new perceptions into account.”

New Formulas for Virtual Attendance

BBVA’s partnership with Legendaryum underscores its strategy of integrating pioneering technologies that might herald innovative banking business and metaverse models. This ensures that the virtual experience closely mirrors reality. Furthermore, its pioneering multi-device integration facilitates interaction irrespective of the connecting device, be it a PC, smartphone, tablet, or VR glasses. An added advantage is its web accessibility, removing a significant technological barrier for corporate landscapes by sidestepping the need for third-party software downloads.

The collaboration between BBVA and Legendaryum Metaverse shows the growing significance of the metaverse in shaping the future of business operations and customer engagement. As companies like BBVA pioneer immersive environments for enhanced communication and service delivery, the metaverse could become an integral part of how businesses connect with and serve their clientele.