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Virtual Reality and Augmented Reality in Financial Services
Abstract
Virtual and augmented reality systems of modern technology have grasped much attention due to their extraordinary effect on traditional ways of operating business in diverse fields. One of the prone industries to these changes is financial service industry. Thus, this paper pens down the insights about virtual and augmented reality and its role in financial services. The article utilizes library research approach to analyze the information from existing scholarly articles and literature. The study describes the dimensions of virtual and augmented realities and their convincing benefits in financial industry. Some significant practices have been described explaining how AR and VR modernize traditional financial services i.e., analyzing risks, investment portfolios, virtual biddings, and other services. Hence, the research contributes to advancing comprehension of virtual and augmented reality in financial and banking industry. Various financial policymakers, technology providers, bankers, financial experts, and financial firms are the key beneficiaries of the present research paper.
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