2 months ago 1 min read

Woori Bank's 3D Metaverse Banking Service will be Available to Small Businesses

woori bank-metaverse-south korea

Announcing the launch of metaverse banking services for small businesses, Woori Bank, one of South Korea's four major banks, followed in the footsteps of financial giants like HSBC and Fidelity Bank.

According to reports, Woori intends to offer 3D virtual training services in the metaverse to its employees.

Thanks to the metaverse, businesses may offer rich 3D experiences including gaming, trade, education, and virtual events. However, a growing number of businesses offering widespread services, including banking, are entering the digital economy.

The bank will provide two services one for communication with small business owners and the other for the education and training of its staff through the metaverse platform "Moim," a local startup Grid Inc. The Korean word "moim" refers to a gathering of individuals for a certain reason.

The service will be accessible from 9:00 am to 4:00 pm via PC and mobile devices. "Woori Metabranch" has been improved for use in "metaverse banking." A representative of Woori Bank said:

“We plan to officially launch the metaverse service in the first half of this year by reflecting user feedback. We will provide various services so that customers can experience through various mediums such as XR (extended reality) devices.”

The bank claimed that in order to make up for the drawbacks of both in-person and contactless education, staff might obtain training and lectures from invited specialists online.

The company is boosting the digital skills of its staff as part of the training program by using a cyber training center.

Early in 2022, Woori became the first commercial bank in South Korea to begin officially authenticating driver's licenses using blockchain technology.

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