The concepts of Virtual and Augmented Realities are being increasingly discussed, in recent years. This includes the introduction of the Oculus VR headset, the popularity of Pokémon Go and the hype around Snapchat filters.

The idea of presenting a simulation in a different environment has actually been around since 1836 with the introduction of Charles Wheatstone’s invention-a simple stereoscope allowing the perception of depth from two identical photographs. Although the first ‘headset’ was introduced decades ago, the technological advancements in this field have been rather sluggish compared to other consumer-facing devices/technologies. Companies are now slowly starting to utilize headsets and mobile-based applications to hold meetings, place virtual furniture in living rooms and host concerts from artists who have passed away, such as Whitney Houston.

We at Synechron also see an opportunity for banks, financial services firms and insurers to seize on this exciting, evolutionary and immersive technology. By embracing this technology for a variety of engaging customer experiences, the bond between the financial enterprise and their clients can strengthen.

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