01 Mar 2023

Myth-busting the metaverse: Why financial services should be pioneers of metaverse technology; Recording

In this session, techUK looked at some real-life applications of the metaverse in the financial services sector beyond the immersive VR glasses we often see in imagery accompanying the word. We’ll consider a plurality of applications, including how digital twins (virtual models designed to replicate an object or entity) can be used to test product launches, operational resilience and financial modelling – all in the metaverse

Watch the recording here:

The aim of the session included:

  • Understand what is meant by the metaverse – in terms of both consumer and enterprise applications
  • Explore what banking and finance may look like in metaverse worlds, and the transition banks may need to make
  • Learn some of the benefits that the financial services can achieve by using this technology;
  • Have a better idea about the speed of roll-out;
  • Be conversant in what is digital twinning and how it can help financial services firms.
  • Differentiate between the metaverse, DLT and blockchain technologies, digital twinning, and the use cases that converge these together

Andy Thornley

Andy Thornley

Head of Financial Services, techUK

Laura Foster

Laura Foster

Head of Technology and Innovation, techUK

Jago Corry

Programme Assistant, Markets and International Trade, techUK