BBVA’s Metaverse Move: Future of Banking?

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In a progressive movement, BBVA has entered into a partnership with Legendary Metaverse, exploring how immersive digital environments can reshape the dynamics of remote relationships internally and with their customers. This collaboration has led to BBVA opening a remote meeting room within Legendaryum. The main goal here is to understand the implications of these environments and how they are redefining user interactions, then informing the creation of specialized banking services.

The metaverse’s potential for reshaping business-customer interactions is enormous, surrounded by curiosity and anticipation. Before rolling out new interaction models or designing specific products tailored to these channels, BBVA’s approach is one of experimentation. As Iván Moreno of BBVA’s Strategy and Digital Assets division clarifies, “We need to understand the capabilities of these technologies, their potential technical limitations, risks and opportunities, and how we can improve user security and protection.”

Source BBVA

The immersive meeting room

BBVA’s experimental phase is highlighted by an immersive conference room trial. This platform has a hyper-realistic design and is aimed at social gatherings, commercial hubs and training and leisure spaces. Moreno explains the venture, emphasizing: “We have to test it first hand, and we have already held the first meetings and organized some remote training calls. This pilot room in a hyper-realistic scenario allows us to open innovative ideas to applications or needs that, without an environment to test them, would be difficult to anticipate.” He believes such living labs enable business sectors to come up with tools and functionalities that differentiate these spaces.

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To reinforce the authenticity of this experiment, Legendaryum has created a virtual counterpart to La Vela, BBVA’s monumental headquarters in Madrid.

The bigger vision

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

In addition to technological exploration, BBVA also seeks to understand the evolving perceptions and interaction modalities of these spaces. Moreno notes, “Users have long interacted digitally through screens, buttons, drop-down lists, etc. By seeing how our own way of working is turning into a metaverse, we can design products and services for the customer that take new perceptions into account. .”

New virtual presence formulas

BBVA’s partnership with Legendaryum underscores its strategy to integrate breakthrough technologies that can herald innovative banking activities and metaverse models. This ensures that the virtual experience closely matches reality. In addition, the groundbreaking multi-device integration enables interaction regardless of the connected device, be it a PC, smartphone, tablet or VR goggles. An added benefit is web accessibility, which removes a significant technological barrier to corporate landscapes by bypassing the need for third-party software downloads.

The collaboration between BBVA and Legendaryum Metaverse demonstrates the growing importance of the metaverse in shaping the future of business and customer engagement. With companies like BBVA pioneering immersive environments for enhanced communications and service delivery, the metaverse could become an integral part of how companies connect with and serve their customers.

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