Author(s): Debajani Sahoo and Smita Ray
Purpose: Customers can visit a bank virtually through metaverse. This will not only enable remote access to services but also add a human touch.The objective of the present study is to explore the impact of metaversa in different aspect of financial transaction in indian economy. Second to understand how it helps in creating customer technology trust that ultimately develop engagement among customers in banking industry. Design/ methodology: The study used both qualitative and quantitative methods.First focus group interview with bankers and customers explored to understand their perception on metaverse.Survey method used using the judgemental sampling method to collect data from customers those frequently used digital platform for their financial transaction .Structural equation modeling used for data analysis. Findings: The finding of the present study would help the banking industry for further redesigning the banking service that would lead to more delighted experience to customers. The banking industry is having more perceived risk and less trust.So the finding of this study showcased how the metaverse reduced the risk of customers and help in establishing their trust and engagement. Research limitations: Although the implication of metaverse was expected to transform the digital banking system of the country but at the same time it would face some challenges including less awareness among people,increasing frauds in banking industry, and motivation of bank employees towards metaverse. The present study confined only in banking industry with limited sample size, it may extend to other industry with a bigger sample size in future.