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Do We Need Bank Branches in the Metaverse? - Decoding the Metaverse Economy - Part 2

We’re surrounded by information, content and news. Everywhere, all the time. The human mind can only meaningfully absorb a handful of new facts about the world. mymoneykarma filters out the signal from the noise, and gives you just only the bits of information you need to understand the world of crypto. What is mymoneykarma? This channel is dedicated to simplifying the concepts and best practices of Personal Finance through explainers, FAQs, tips, and educational material. We empower viewers to each become a paragon of Intelligent Finance. Founded by a group of Stanford alumni with a strong background in banking and technology, MyMoneyKarma has been revolutionizing the Indian Fintech sector and ushering in the future of personal finance. Committed to a social mission of creating a measurable impact on people’s lives, MyMoneyKarma has empowered millions of people to reclaim control over their finances by addressing the 3 biggest issues and barriers in the sector: Low financial literacy means most people applying for loans, mortgages or credit cards have never checked, nor heard of, their credit scores. By this time, the damage has often been done Low information transparency means it can be difficult to know the best interest rates for each customer’s unique profile, the financial providers that offer the best terms, and how to maximize one’s chances of being approved (where a rejection further worsens the credit score) High effort and hassle means one is too hard-pressed to shop around, try multiple options and find the best fit, instead ending up with sub-optimal decisions and a whole lot of wasted time and sweat MyMoneyKarma’s fully online loan optimization technology helps customers with an extensive range of financial products, delivering the lowest interest rates and comprehensive service at the touch of a button. Apply for a Home Loan @ https://www.mymoneykarma.com/home-loa... Apply for a Personal Loan @ https://www.mymoneykarma.com/personal... Get your Credit Score worth Rs. 4300 for Free @ https://www.mymoneykarma.com/credit-s... ______________________________________________________ Get to know and Follow us: Facebook   / mymoneykarma   Linkedin   / mymoneykarma   Instagram   / mymoneykarma   Twitter   / mymoneykarma   Transcript: Though financial transactions in the Metaverse are growing exponentially, the idea that “digital banks will be in the perfect position to facilitate transactions” in the metaverse is still quite far-fetched. Most of today’s “digital” banks are little more than traditional banks without branches, and offer little more than what a mobile banking app can do. For these reasons, metaverse bank branches may be a wrong path for banks to go down right now. At some point in the future, it is possible that the digital worlds being built today will have aggregated sufficient user attention and engagement that financial services companies will need to invest in the metaverse as an acquisition and customer service channel. But until the metaverse becomes a little less empty, banks do need to resist the temptation to colonize it with branches and billboards. So is there absolutely no space for banks to get involved in the growth of the metaverse? Not quite. Watch the final video in the series to find out how banks can play a vital role in the metaverse boom.