Metaverse Opportunities in the Financial Services Industry

  • 11 Mei 2023
  • Lintas Sektor
  • Online


Metaverse is a virtual world encompassing a three-dimensional space where humans interact as avatars with each other and with software agents, using real-world metaphors but without their physical boundaries [1]. Basically, the function of the metaverse is almost the same as in the real world. Users in this case must first enter the virtual world, using supporting technology such as Augmented Reality (AR) and Virtual Reality (VR). Recently, the development of metaverse technology is also supported by the existence of artificial intelligence (AI) technology.
Some of the benefits obtained by the Financial Services Industry (IJK), include increasing closeness between customers and IJK, IJK can take advantage of AR and VR technology to enrich the customer experience of their products, gain a competitive advantage over competitors who do not utilize this technology, and improve marketing and product/service branding.
Some of the factors driving the trend of using the metaverse platform are the increase in the number of internet users in the world which is predicted to reach 6.0 billion in 2025 and grow by 56% to around 7.5 billion in 2030. Augmented/virtual/mixed reality technology ( AR/VR/MR) is expected to grow by more than 800% until 2030 or USD 150 billion. In addition, the utilization of Web 3.0 / crypto assets is expected to increase by more than 700% or USD 9.2 trillion by 2030 [2]. Taking this into account, it is not surprising that the metaverse technology has become one of the technologies that has influenced the trend of digital transformation in the Financial Services Industry (IJK) recently.

The development of the metaverse technology is also increasingly being felt during the Covid-19 pandemic, where there are constraints limiting physical/face-to-face interaction between customers and financial service providers. Through metaverse technology, this problem can also be overcome while providing new experiences to customers. Some of the metaverse technology applications that have been implemented at IJK, among others, are in the banking sector through virtual office representation with services and interactions to customers that feel like they are in a physical office. This service supports priority banking or private banking services. The Capital Markets sector is also not left behind in implementing metaverse technology through online gaming platforms and the cryptocurrency market.
There are several challenges faced in implementing metaverse technology, including the high cost of the tools needed to create the fundamentals of the metaverse, such as VR and AR, as well as the challenge of making adoption of the metaverse world more equitable and accessible to the public. In addition, data privacy security is also a challenge at this time, marked by several cases of leakage of public personal data.
Based on the above background, there is a need for further understanding and discussion with competent informants regarding basic concepts, supporting tools, and the implementation and utilization of metaverse technology in FSI in the midst of the current digital transformation era.


[1] Sumber :,Alanah%20Davis%20et%20al. Diakses pada tanggal 21 Maret 2023. 

[2] Sumber : Diakses tanggal 21 Maret 2023.


Provide an understanding of the basic concepts, working principles, and supporting tools  metaverse technology at IJK;
Provide an understanding of information security aspects in the use of technology metaverse at IJK; And
Provides an understanding of the use cases of the use of technology metaverse in various business models in the Financial Services Industry.

Pimpinan dan Pegawai OJK, Perwakilan Industri Jasa Keuangan, Akademisi dan Masyarakat Umum
  • Stephen Ng (Chief Metaverse Officer WIR Group)
  • Andika Rachman (Assistant Vice President Digital Banking Development and Operation Division PT Bank Rakyat Indonesia (Persero) Tbk)
  • Ir. Budi Rahardjo, MSc., PhD (Technopreneur Bidang Keamanan Informasi)
  • Ida Bagus Mahaputra Arta (Deputy EVP Digital Business Builder - DBT - Direktorat Digital Business PT Telkom Indonesia (Persero) Tbk )