What Does the Metaverse Mean for the Banking and Financial Services Industry?
Banking in the virtual world is not new, but the metaverse has the potential to change Banking and Financial Services (BFS) forever.
What exactly is Metaverse, and how should your organization approach it? Join this video series as Prashant Kelker, ISG’s Chief Strategy Officer, presents you with six stories, detailing the key tech stacks of Web3 and defining the business relevance of Metaverse in your industry.
Web 3.0 and the Metaverse will create new market opportunities. Define your company’s position now using insights from what the market leaders do.
Charting new revenue paths and seizing new opportunities has never been more urgent. Web3 and the Metaverse will unlock new possibilities. Web3 is an ecosystem play. Pioneering ideas today will create the leaders of tomorrow. Whether you are defending your market or seeking to be a disrupter, defining a strategy cannot be done in isolation without knowing the marketplace of established and new native players and platforms.
ISG is privy to the rise of new crypto-native startups and the solutions and offerings of established technology players. Getting to the how of your business plans can be challenging and ISG can help.
Benefiting from and leading the Web3 and metaverse space means starting now.
But how do you achieve clarity on key questions, such as where to pilot Web3, whether metaverse pilots should be internal or external, and which strategic partners can be trusted to help? Our leading-edge partner ecosystem research, deep sourcing experience and actionable strategies allows us to occupy a unique (and independent!) position between blue-sky business strategists and boots-on-the-ground technology providers. We'll work with you to answer:
To get you started, ISG helps you explore the business relevance of the metaverse, crypto economies and blockchain. Then we'll work with you to integrate these emerging technologies into your broader transformation initiatives. From assessing the efficacy of your current programs or developing pilot programs to governing your ecosystem to track success, we know how to derive business value from Web3.
Our metaverse advisory focuses on learning and “reimagining” sessions to help you envision and plan for business opportunities related to the metaverse. The sessions leverage in-depth ISG research to examine next-generation strategies, tools and technologies that will enable you to connect physical worlds with virtual worlds for employees, customers, clients and communities. Whether you need to find the right implementation partners, conduct a strategic re-design of your target operating model or define a metaverse sourcing strategy, ISG can help you separate hype from actionable strategies.
ISG is a leader in proprietary research, advisory consulting and executive event services focused on market trends and disruptive technologies.
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The last 18 months has witnessed one of the largest workforce population movements. This shift in ways of working was the hypersonic acceleration of the future workplace implemented in a matter of weeks. Organizations were categorized into digital categories depending on how they had planned and adapted to the future of work, as well as how their services and industries were consumed by the end customer in 2021.
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A new avatar of the internet has been creeping up on the world. This new internet is the highly decentralized Web3. Web3 is the internet owned by the builders and users, orchestrated with tokens. To fully appreciate the value of Web3 and Metaverse, it is critical to understand how we got here and the journey of web1, web2 and web3. Web1 is the era of READ when it was the time of users and builders; Web2 is the era of WRITE which was ushered in the creation of content en masse; Web3 is the era of OWN, which combines the decentralized, community-governed ethos of Web1 with the advanced, modern functionality of Web2. Contact us to learn more.
The Metaverse presents a new era where we connect, work, and shop are at the convergence of physical and digital worlds. Leading businesses are beginning to explore the metaverse and web3 to create brand new experiences and goods to accrue value back to themselves. However, true value can be created only once one understands how the entire Web3/Metaverse tech stack comes together – and when one appreciates new concepts, like decentralized, autonomous organizations (DAO), NFT, blockchain and DApps. Businesses should go beyond the hype of Web3 and Metaverse to study less known topics like crypto business models and token economies – and start defining relevance for their particular industry. And then approach the Metaverse with a near-term action by understanding these technology stacks and selecting a few lower-risk opportunities available. Contact us to learn more.