Potential of AR and VR Showcased at the NORA and Westpac Digital Safari

Potential of AR and VR Showcased at the NORA and Westpac Digital Safari

Posted on April 8, 2017

In our world's ongoing digital transformation, is virtual and augmented reality tech the next big thing in providing top-notch customer service?

That’s exactly what guests learned during Devika’s presentation at the NORA and Westpac Digital Safari. Showcasing some of the best in “retail sales and service trends”, the safari featured speakers from ASOS Australia, Airbnb Australia and Local Measure. So, you could say the Devika team were in good company.

Rather than stick to typical conference format, Devika got guests up and using an HTC Vive headset straightaway, using a more informal question and answer, workshop-style format to get the crowd motivated about all things VR and AR. Because it’s not until you’ve tried this tech that you realise the ever-growing potential that VR and AR have as customer-centric retail tools.

Photos of Devika presenting at the Westpac Digital Safari, and the Westpac logo

The potential for VR in business is only limited by our imaginations. Photograph: supplied.

Over the last 30 years banking (as well as retail in general) has experienced a massive shift in how customers access services. First it was the introduction of telephone banking. Then home-banking on your PC (believe it or not, banks would actually mail you a floppy disk of information to do this). Next came the arrival on online banking via your computer. Most recently has been the rise of mobile online banking apps, which are safely and conveniently accessed wherever and whenever you need them. When you look at the timeline of innovation like this, it’s not difficult to see how VR and AR tech will be the next step in the digital transformation.

Augmented reality in particular has enormous potential in expanding and improving current customer services in the banking sector. The process of customers getting home loans for example could be completely overhauled. Using an AR app on their smartphone, customers could examine a property they wish to purchase and receive financial information on their ability to make that purchase possible. Another opportunity AR could facilitate would be virtual bank tellers. Rather than have to physically go into a bank (which is not always convenient), customers could receive top-quality service though a virtual teller by simply strapping on a headset.

Though it’s still a fairly new innovation, within 18 months this sort of customer-centric VR and AR tech could become a reality for the retail sector. Given the excitement the Digital Safari audience had at experiencing VR (as well as their great questions), it might not be long until we can say goodbye to bank queues and hello to virtual transactions.