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Is Virtual Reality the Next Big Thing in Banking?

Banks could expand their use of virtual reality technology by next year, according to Deloitte Consulting Chief Technology Officer Bill Briggs. He says banks could offer virtual reality branches, which would allow customers to visit the branch without leaving their homes. They also could use the technology to train financial advisors, among other things. "It's early prototyping, early experimentation [at this point in time]," says Briggs, as banks consider the potential uses of the technology. Wells Fargo has tested both Google Glass and Oculus Rift, with spokesman Josh Dunn noting that "we're looking to re-imagine customer interactions with money within and across channels, including how a customer might use (virtual reality) to manage finances." Ultimately, consumers will drive the adoption of virtual and augmented reality by banks, says Briggs. "Does this become a new mode of interaction that allows a different level of connection and collaboration? If that's the case, then I think any industry that has high customer touch, certainly banks, they're going to be where the customers want to be," he remarks.

From "Is Virtual Reality the Next Big Thing in Banking?"
Charlotte Observer (NC) (04/04/16) Roberts, Deon