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Bank of America uses virtual reality to help employees absorb training info faster – and 97% of participants said they felt more comfortable performing tasks after using a simulation.  

Creating teachable moments in virtual reality can lead to immersive, focused, and memorable training programs for bank employees, which are ultimately more effective than the status quo of boring instructionals. 

Bank of America has ditched written guidelines and online videos for some of its most crucial employee trainings. 

Instead, the bank uses virtual reality technology to immerse employees in 3D environments where they can practice skills and build knowledge in real-time. A new Bloomberg feature highlights how the trainings are more effective and memorable for workers.  

For example, one of the bank’s training modules mimics a bank robbery, where employees must respond to having a gun pointed at them or being passed a threatening note demanding money. They’re coached and then given the opportunity to act out the scenario in VR.  

“When you’re in VR and you’ve got someone pointing a weapon at you or screaming at you, asking you to do something, it’s somewhat duplicating that feeling that you would have in real life, because of the level of immersion,” Bank of America SVP Mike Wynn previously told Insights Distilled. “I want someone to feel a little anxious or a little nervous in a fake environment, because I don’t want them to feel that way for the first time if it ever happens to them. That’s why VR is so powerful as a modality, because it gets you to feel as if you’re in that moment, so that you can develop some level of muscle memory.” 

Other banks have crafted their own experiments with VR and the metaverse, too: Sociéte Générale and Deutsche Bank host client presentations in virtual reality, while BNP Paribas lets its users check their account activity and transaction records in VR.