Virtual reality isn’t just for gamers anymore. Goldman Sachs Group predicts that the virtual and augmented reality markets will be worth $80 billion by 2025 and will eventually hit as much as $182 billion. With this enormous potential, banks and financial institutions are taking a great interest in the ways they can benefit from this new technology.
Data visualization: For data you can actually see
Today’s financial data has grown to such an extent that it’s difficult for most humans, including trained professionals, to digest. It’s nearly impossible to view all of the historical data, derivatives and other information on a 2D screen, but through immersive data visualization, a user can zoom in to a virtual 3D environment for a closer look or zoom out for a high-level overview. Traders can then connect and share these 3D views with their clients for better, faster trading.
Virtual branches: Banking without leaving your home
Another way in which virtual reality is changing finance is with enhanced customer service, such as virtual branches that will allow on-demand financial services. Just by strapping on a headset, a user will receive expert advice without waiting in line or even driving to a physical branch. This will provide customers with a better experience, while saving time and capital on the costs of traditional brick-and-mortar buildings.
Plus, the bank itself can save even more time and money on training and meetings for employees. Instead of physical travel, the employees will share reports and insights from almost anywhere with VR.
Appealing to millennials
Today, many people don’t see a difference between their bank and any other bank, and 71% of millennials, who are the largest generation in American history, would rather go to the dentist than listen to their bank. Ouch! So, going forward, virtual reality is a good way for banks to differentiate themselves and tailor themselves to a millennial audience that loves games and apps. But in order for banks to take full advantage of this new technology, they’ll need powerful PC components: High-end graphics cards, a powerful CPU, and lots of RAM and storage.
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Ingram Micro System ArchiTECHS gives you access to over 30 manufacturers who can provide intelligent graphics, awesome processing power, and SSD and HDD storage for huge amounts of data. These components combine to create a seamless VR experience.
If you’re ready to get involved in this growing virtual reality space, visit System ArchiTECHS at http://ingrammicrosystemarchitechs.com/ or call (800) 456-8000 and get started on your own customized solution.