82% of Financial Sector Businesses to Adopt XR in the Next 5 Years, HTC VIVE Report Finds

In its independent "XR Applications in the Financial Industry" report, HTC VIVE questioned sector professionals about XR integrations

82% of Finical Sector Businesses to Adopt XR in the Next 5 Years, HTC VIVE Report Finds
Mixed RealityLatest News

Published: June 19, 2024


Rory Greener

This week, in line with AWE 2024, HTC VIVE released a report highlighting how leading firms in the financial service industry are increasingly adopting XR and experiencing positive ROI returns over a two-year period thanks to XR technology. 

The independently run “XR Applications in the Financial Industry” survey questioned around 400 financial services professionals. HTC VIVE reports that roughly 92 per cent of financial professionals invest in a positive ROI. Moreover, the report noted that of the individuals questioned, 82 per cent believe that their firm will adopt XR technology in the coming five years.  

Daniel O’Brien, GM of Americas at HTC VIVE, said: 

We’re seeing a significant uptick in investments in XR in the financial service industry, and our report demonstrates a clear reason why: XR positively impacts employee education and skill retention, improves the customer experience, and returns a positive ROI. These companies are focused on improving the bottom line, and they’re discovering that XR technology has a direct impact on the health of their businesses. They realize that now is the time to invest in XR so they don’t lose ground to their competitors.

Additional findings from the report show that 84 per cent of financial professionals believe that XR integration into training programmes has positively affected their workforce’s skill development; 80 per cent of those questioned also believe that immersive technology increases general operational efficiency.  

On the customer experience side, 77 per cent believe that XR is improving the buyer’s journey. Marketing firms are increasingly adopting XR as an engaging and fruitful opportunity to reach users. At AWE, Draw & Code and 302 Interactive are introducing a new immersive solution known as FanPort, an MR brand engagement platform, highlighting the increasing investment in market-facing XR solutions. 

Another 59 per cent believe that XR technology’s ability to visualise data as 3D renders can help professionals advance comprehension, decision-making processes, and client interactions. 59 per cent of financial professionals leveraging XR in this manner also state that the interaction increases engagement and interaction during financial education programs. 

Concerning Security Measures

However, with new technology integration comes new hurdles to jump. The report notes that the finance sector expected over 20,000 cyberattacks since 2004, leading to roughly $12 billion in losses.

So naturally, when introducing a new technology like XR, which records a large amount of user and locational data, security should be at the top of a company’s mind.

HTC VIVE highlights how financial companies wishing to leverage the positive outcomes of XR must first undergo a series of checks to ensure the technology is implemented safely.

The report notes how XR-adopting firms can undergo security measures to ensure safety and ROI, including prioritization security, regular audits, employee protocol training, encryption techniques, and penetration testing.

Security is a core concern regardless of the enterprise sector. Every business deals with sensitive internal and external data, and integrating new communication and computing technology of any kind can create emerging security concerns.  

However, for the financial sector, these hurdles appear to be worth overcoming, and it is worth spending time integrating XR properly in the workplace.  

XR commonly provides an excellent opportunity for firms looking to save money on large-scale investments. However, XR is not at a point where the investment is worth it for companies saving a lot of money due to the time and money needed to integrate the technology properly. 

However, in the financial sector, where time is money, XR technology is proving fruitful—at least according to the “XR Applications in the Financial Industry” report.  

In the report, 53 per cent of respondents noted that XR improves a company’s customer satisfaction, helping to promote a firm as “modern” and “cutting-edge.” The positive customer optics of XR and increases in ROI may indicate that the financial sector will become an increasing influence in enterprise XR. 


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