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11/6/2022, 8:02 AM (Source: TeleTrader)
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UBS, Julius Baer have concerns after metaverse trial - report

Swiss banks UBS and Julius Baer have tested giving financial advice to billionaire clients in the metaverse using headsets and avatars, but are not likely to roll out such service after noticing security issues, the Financial Times reported on Sunday citing sources close to the matter.

One bank executive said that "a lot of issues with confidential and sensitive data security" were found and added that the technology also still needs to be worked on because "it looks like Atari graphics at the moment and people who have tried it have had feelings of motion sickness."

Meta CEO Mark Zuckerberg has insisted the metaverse should be used for workplace meetings and recently unveiled the company's latest headset "designed for work."

Baha Breaking News (BBN) / NP