Advantages of using Virtual Reality as a financial instrument
Abstract: In recent years, the phenomenon of Virtual Reality has been highlighted by most technology-interested persons around the world. The technology allows visualization and interaction with environments, which in real life would be too costly to recreate. At the same time, the banking sector’s ways of presenting financial information are relatively old fashioned and still consist of lists and 2D graphs. This study will examine whether VR can be used by financial actors as an instruments and what the technology can contribute to in economics. The present work will lay the foundation for a VR test environment that will be tested and evaluated by potential users. The design process of the environment will include 1) Investigation phase – flaws in current systems will be identified, meetings with bank representatives and end user identification will be conducted. 2) Idea-generating - through brainstorming, ideas on the design of the environment will be developed. 3) Prototypes - In this phase, prototypes from sketches will be forwarded into 3D simulation which will be developed and evaluated. The prototypes will form the development of the final creation of the environment. 4) Final phase - The final part of the process will include testing on the developed environment and present conclusions as to whether VR has a future in the banking system. The testing will be conducted in two different groups, one with people with financial experience and one with people without economics knowledge. The test embraces a scenario-based model with physical and analytical tasks ending with a feedback survey.
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