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Punjab National Bank launches its first virtual branch in the Metaverse

Indian public sector Punjab National Bank (PNB) today announced the launch of its virtual branch ‘PNB Metaverse’, as it aims to offer a personalized banking experience for both current and potential customers.

According to the bank, Customers can access the platform from their homes or workplaces via mobile or laptop.

The bank further added that the digital branch will showcase a broad range of the bank’s offerings, from traditional services such as bank deposits and loans for retail and MSME sectors to digital products and special provisions for women and senior citizens. It will also feature “Do It Yourself” options and various government-endorsed schemes, it said.

The PNB Metaverse’s innovative structure brings the internet into a more unified 3D setting, akin to moving smoothly between physical spaces, such as an office and a movie theatre. PNB’s Managing Director, Atul Kumar Goel, compares this transformation to the evolution of various isolated websites and applications into a consistent 3D environment.

Goel further added that this technological leap is expected to enhance customer engagement, streamline the customer onboarding process, and deliver a highly personalized customer experience. This forward-thinking approach exemplifies PNB’s commitment to digitization and customer service innovation.

It’s worth mentioning that Union Bank of India was the first public sector bank that entered and adopted Metaverse like other international banks did. Last year, Union Bank of India had partnered with India’s Tech Mahindra to make such services available to its customers. 

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