Polish banking group PKO Bank Polski has set up its virtual branch on the ‘Decentraland’ to bolster its presence in the Metaverse banking space.  

With the launch, the virtual version of PKO Rotunda, a building owned by PKO Bank Polski in Warsaw, is now available in Metaverse.

The virtual branch will be used as a laboratory to expand experience and test relevant technological solutions.

The Polish bank also aims to use its virtual branch to gain knowledge and experiences, which will be leveraged for the development of its business.

Additionally, PKO Bank Polski is open to exploring the possibilities that are available to the banks in the virtual world.

Initially, the bank’s virtual branch may be used for onboarding new employees and training, which is anticipated to improve the onboarding of new staff in the wake of the new hybrid work culture.

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Concurrently, the bank will test new ways of communicating with clients.

For the future, PKO Bank Polski also wishes to develop solutions to verify clients’ identities in the virtual world and explore the possibility of being able to offer banking products there.

PKO Bank management board vice president Paweł Gruza said: “I would like PKO Bank Polski to be ready to make use of the opportunities related to it, and when Metaverse has matured, to set the rhythm in the technological development of the domestic banking sector and the Polish economy – as it has done before. That is why we have decided to enter the Metaverse world and to launch our first branch there.”