Overview

We proposed this solution as part of IDFC FAME Challenge hosted for all the prominent B-schools in the country. We emerged among the top 32 teams among 2000 team registrations and received full time interview opportunity with IDFC First Bank. 
 

Problem Statement

Businesses are resorting to Metaverse applications to stay ahead of the curve as more and more people use Web 3.0. Reports suggest that the Metaverse market will grow from 2022 to 2030 at a CAGR of 39.1%, reaching USD 824.53 billion in 2030. Typical use cases today are for ARVR gaming and designing training simulations. Broadly speaking, Metaverse can be characterized by persistent virtual worlds that continue to exist even while you’re not participating in them. Banking as an industry is conventional and generally late in adopting the latest technological trends.
 

​Objective

Find areas of banking where Metaverse can be implemented (Ex. An interactive Metaverse environment to keep customers engaged while they are seeking Customer service). At the end of your research, you are to present your ideas in front of the leadership.

Key Deliverable

1. List of banking functions that have scope for implementing Metaverse.

2. Existing market trends.

3. Deep dive into one specific function explaining the Metaverse application along with a simple cost/ benefit analysis.

4. A brief project plan for executing your idea.

5. Key stakeholders/departments (could be generic) you must consult with to move forward with your execution.
    

Design Principles
Market Research, Roadmap, Competitive Landscape, Feature List