Proposed Model of Applying the Metaverse in the Banking Industry

Mohammadesmaeil, Sedigheh; Zaghari, Leila

Proposed Model of Applying the Metaverse in the Banking Industry

Document Type : Original Article

Authors

Sedigheh Mohammadesmaeil ¹

Leila Zaghari ²

¹ Department of Knowledge and Information Science, Islamic Azad University, Science and Research Branch, Tehran, Iran

² Author / Department of Information Technology Management, Faculty of Management and Economics, Islamic Azad University, Science and Research Branch, Tehran, Iran

Abstract

This study develops a framework for integrating the Metaverse into the banking industry to enhance customer experience, improve efficiency, and support digital transformation. With the growth of the Fourth Industrial Revolution and the advancement of digital technologies, banks must adopt innovative tools to remain competitive and deliver superior services.
A mixed-method design was applied, combining qualitative meta-synthesis and quantitative analysis. From 200 studies on Metaverse in banking, 35 were selected for detailed review. In the qualitative stage, MAXQDA 2020 enabled initial, axial, and pattern coding to identify major themes. The Fuzzy Delphi Method was then conducted with 15 experts in banking technology and information systems across two rounds to refine and validate indicators. In the final stage, a structured questionnaire was administered to 300 banking professionals, and the data were analyzed using descriptive statistics and structural equation modeling (SEM).
Findings validated 98 indicators organized into nine categories: customer experience, digital services, security and privacy, infrastructure and technology, marketing and branding, human resource development, data analytics, applied technologies, and operational features. Together, these categories form a structured roadmap for applying Metaverse solutions in banking, balancing customer-centered innovation with internal process optimization. The study concludes that successful Metaverse adoption in banking depends on strategic alignment, governance, and active institutional participation in digital ecosystems. The proposed framework offers practical guidance for leveraging Metaverse opportunities to improve efficiency, strengthen customer engagement, and accelerate digital transformation in banking.

Keywords

Metaverse

Digital Transformation

Virtual Reality (VR)

Augmented Reality (AR)

Virtual Banking

Subjects

Digital Transformation

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