Develop and Introduce Lens Banking(Mixed reality glasses) for Financial Inclusion in India

Develop and Introduce Lens Banking(Mixed reality glasses) for Financial Inclusion in India

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geethy panicker started this petition to prime minister modi, and

Financial Inclusion with 'Lens Banking'.

All of you remember your journey from branch banking to ATMs to Mobile banking. Have you ever thought where will we go next from Mobile Banking and apps?

The future of mobile is not a more advanced mobile but an Augmented / Mixed Reality Glass! I am a futurist who believe that this decade will see 'Lens Banking', reimagining the form of banks!

From our couch, wearing the 'MR lens' (instead of VR Headsets) we will interact and transact with our bank, do shopping, try out clothes or buy furniture based on mixed reality images. We will get financial and wealth advisory from virtual advisors live before our eyes.Your waiting at the call centre will be replaced with on-demand, live avatars of advisors active  via MR lens! Apple's AR lens is in the making and if it is true, then it may hit the market anytime from now to 2023.

In Feb2020, India announced the National Strategy for Financial Inclusion for 2019-2024,  which aims digital financial services in all Tier-II to Tier 3 centres, provide savings a/c, credit, insurance, pension plans and investment products — to every eligible adult.Bharatnet & INR 8000 crores investment in Digital technologies are also in the plan. While bank accounts have increased to 80% of population  in India, utilisation / balances are even low.Only 10% receive formal financial advice.

A few days ago,  I was saddened to read about a family of three who committed suicide in Kerala because they couldn't repay their debt which was just Rs.40000/-. After trying all means, they chose death  but decided to leave their little girl alone in this world because they could not bring themselves to kill her too. If India can reach Moon,  Mars and shortly to other planets,  I am sure we have the right technology, brains and will to achieve anything in this world.

If India can invest to invent its own ' Mango Lens', (affordable MR lens for the Aam admi), we will see financial access with greater success, at affordable costs even at the last mile. Instead of going to branches,  a branch & officials will now come to our drawing room virtually but with the very feel of actually visiting a branch. Setting up branches and maintenance of call centres can be reduced substantially in  Lens banking because a virtual avatar can talk to & serve multiple customers with human touch.  Even illiterate customers can be trained to use it and virtual avatars can take their requests, share advice after authentication using biometrics.Bharatnet will provide the connectivity and infrastructure for the pupose,  besides small rural kiosks with Lens. We have brilliant minds in our tech companies, IITs and IIMs.

My vision is to develop a Mango lens and give it first to that very little girl sitting alone in her home or an orphanage now. She would not be able to see her parents again but we can make her see a better future through our  Lens. If you like this idea, support me in this campaign 

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