Metaverse and Green Banking

A recent technological advancement called the “metaverse” is having a profound effect on day-to-day living since it is enhancing and changing social relationships and communication. As a result, every industry in the world is becoming ready to comprehend the implications of the developing metaverse. Banking sector is not an exception. The banking sector is poised for a significant transformation as a result of the metaverse’s unparalleled ability to improve operations. The term “metaverse” describes a virtual world that combines digital and physical settings, allowing users to engage in a variety of activities, socialise, and communicate with one another using avatars and immersive technologies. Customers may be able to handle their money in a novel and engaging way with metaverse banking. Nonetheless, there is a paucity of comprehensive information available from expert and academic viewpoints regarding the advantages and disadvantages of a metaverse in the context of the banking industry. Thus, this paper begins by introducing the idea of the metaverse and outlining its history. Next, the development of the Metaverse is examined from a number of angles, including its potential and drawbacks for the banking industry. Then, it has been investigated whether metaverse can lead to sustainability and can help banks in increasing their green practice. Ultimately, the conclusion is that Metaverse represents a new opportunity for banks in the future and that its development will be proven beneficial for the sustainable development of a country.