Fintech Company Kiya.ai Launches India’s First Banking Metaverse ‘Kiyaverse’

Fintech company Kiya.ai has launched of India’s first banking metaverse Kiyaverse.

Through this new type of metaverse, Kiya.ai seeks to enable consumers to transact, access banking information and avail various banking products.

According to the company, in the first phase, banks will be allowed to roll-out their own metaverses for customers, partners and employees through service offerings that include relationship managers, peer avatars and robo-advisors. The company plans to support CBDCs by holding tokens in the form of NFTs and enabling open finance in a Web3.0 environment.

The Mumbai-based Kiya.ai was established in 1995, providing solutions to banks and NBFCs in financial services, digital payments, governance, risk and compliance. These solutions include omnichannel banking, robotic process automation (RPA) and data analytics.

Kiyaverse will interface its Open API connectors with aggregators and gateways to enable super-apps and marketplaces on the metaverse. With the introduction of Haptics enabled headsets, Kiyaverse will provide closer access to the real world using the Internet of Sense, the company said in its statement.

The company said customers will be able to use their personal avatar on digital banking units, mobiles, laptops, VR headsets and mixed reality environments. This type of platform will bring together AI-based digital customer interaction, portfolio analysis, wealth management, co-lending and corporate banking optimization of real and virtual world banking services, avatar creation and relationship managers.

“While digital banking is functionally interdependent and inclusive, it is all too often seen as being emotionally detached. Metaverse allows banks to use cutting-edge technology with a human touch which will significantly deepen and personalise customer interaction. Kiyaverse offers meaningful applications in the Metaverse that apply to relevant business use cases in the real world. It will enable banks to harness the potential of enhanced UX to bring out the best outcomes for data visualisation and gamification of processes and procedures. Kiyaverse provides cross-functional multi-experience using personalised avatars across real world, mixed reality & virtual reality environments,” said, Rajesh Mirjankar, MD and CEO, Kiya.ai.

“Our product roadmap includes integration with CBDC and interoperability with other metaverses to enable open finance in the Metaverse,” he added.

About Kiya.ai

Kiya.ai is one of the most innovative digital solutions providers serving financial institutions and governments globally. Their deep domain expertise in Financial Services, Digital Payments, Governance, Risk and Compliance solutions along with market-ready processes. With a global workforce, wide partner network and operations in over 50 countries, They help more than 500 clients in their digital transformation journey and create sustainable value for the community. They are assessed at CMMI Level 5 v2.0 and we adopt global best practices in their solutions and services delivery.