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Extended Reality (Sarah 174430Q) (Key Technologies Needed (how it works),…

- - - - Delivers and received relevant data and information across multiple servers of the ecosystem players which are then connected to the banks' host systems
    - - Improves success rate and dramatically enhances innovation by applying design principles to services offered in banks. It solves complex problems and finds desirable solutions. This can cater to users on banking apps who are logged in and authenticated, and to new users who are just browsing and exploring
  - - - Captures real view image to display on a screen of a smartphone or tablet to then be able to perform relevant functions
    - - Allows the AR service to locate the user to perform relevant functions
    - - Required to gather information on the users' interest to allow banks to better target customers with cross-selling of banking products and services
  - - - Used to detect three dimensional movement
    - - Used to detect angular movement
    - - Positioning relative to the Earth, similar to correspondence with the gravity
    - - To provide audio, enhancing VR experience
    - - The whole concept of what the VR service provides
- - - - Extended use and absorption of virtual information can cause exhaustion
    - - The actual experience rarely lives up to what it is supposed to be
- - - - Informative
        
        Allows customers to better visualise data and grasp complex concepts of new tools before actually purchasing or subscribing for a service or product
      - Tangibility
        
        Allows users to have a sense of tangibility towards intangible, perishable, variable and inseparable banking products and services
    - - Channel Diversification
        
        New channel to reach millenials
  - - - Immersion
        
        Allows 3D images to surround the user using any AR service provided by the bank will impress & captivate customers and improve satisfaction
      - Mobility & Accessibility
        
        With AR being a service offered on mobile, which customers carry around with them all the time, it allows access anywhere and it works all around in different locations
      - Integration
        
        seamlessly integrates banking into day to day interactions such as using one’s mobile phone to make customers' experience smooth and services straightforward
    - - Competitive Advantage
        
        Allows the bank to be ahead of other traditional financial institutions that are not as exposed to FinTech (XR)
- - - - Augmented Reality Mobile Application
        
        Mobile mortgages
    - - Virtual Reality
        
        Tests empathy among investment associates handling customer calls
  - - - Minimize distance between employees and customers
      - Establish immersive and engaging experiences
      - Makes banking less of a chore
- - - - VR Banking APP
        
        Allows retail banking users to access their account activity and transaction records in a VR environment
      - Separate VR APP
        
        Gives a guided tour of steps involved with buying a home
      - the POD (a VR experience capsule)
        *Still under construction
        
        Aims to help real estate investors visualise their projects by offering virtual tours of the properties
    - - Marketing tools that generates PR Buzz
      - Creates and shows tools that will be potentially available to people to help manage their finances
      - Showcases digital banking solutions in artificial 3D environments
    - - Virtual 3D Service & Educational Center
        
        Allows users to explore ten different GTE services and products such as auto and home loans, investments, insurance and financial literacy information, all within a virtual Community Financial Center. They can also apply for membership, open an account and apply for loans.
        
        The GTE 3D auditorium offers live events, seminars, webinars and other content as well as on an on-demand basis
  - - - Holographic Workstation for Financial Trading
        
        Increases trader efficiency using a 2D-3D holographic workflow combining voice, gaze, and gesture input with visual design using depth space and Z-axis
        
        The station complements existing Citibank devices and workflows, including traditional news terminals, email, chat, and core components of Citibank’s proprietary trading application
  - - - AR Banking App
        
        Enables the viewing of credit/debit card balances, spending history & details, alerts when payments are due, location of the closest Westpac NZ branch and ATM
- - - - Augmented reality is all about the experience
    - - With AR sellers can make things a bit easier for their purchasers, such as having trials
    - - The inherently immersive nature of the tech enables banks to get user’s attention instantly and keep them hooked on the app