23 July 2017
download the report now

ABN Amro opens virtual branch in Second Life

01 December 2006  |  16598 views  |  0 biometric eye

Dutch banking group ABN Amro has set up a virtual financial advice centre in Second Life, the Internet-based role playing game that has a real economy.

Second Life has a population of over 380,000 who use virtual currency, known as Linden dollars, to buy and sell virtual goods. Linden dollars can be swapped for real money and it is claimed that many regular players make a significant income from transactions.

According to a Reuters report, ABN Amro has opened a virtual bank in Second Life, which resembles the Dutch bank's real-life outlets and offer online citizens financial advice.

However ABN Amro won't be offering personal finance services at first, although a bank spokeswoman told reporters that such services may be available in the future.

Commenting on the move, Wietze Reehoorn, a member of ABN's executive board, says communicating with customers via the Internet can become more personal and more direct and competition between Dutch banks will be determined by finding the best way to establish personal contact with customers.

A number of firms have set up operations in Second Life, including IBM, Japanese car maker Toyota and Adidas which sells vitural clothes and accessories to gamers.

In October UK news and information group Reuters opened a virtual news desk in Second Life. Second Life citizens can access the latest headlines via a mobile device called The Reuters News Centre.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Reuters opens virtual news desk in online world Second Life

Reuters opens virtual news desk in online world Second Life

16 October 2006  |  9842 views  |  0 comments
Virtual universe Second Life suffers real world security breach

Virtual universe Second Life suffers real world security breach

11 September 2006  |  10652 views  |  0 comments
Pre-paid card launched for gamers' virtual funds

Pre-paid card launched for gamers' virtual funds

25 August 2006  |  8911 views  |  0 comments
Cash card allows gamers to withdraw virtual funds at ATMs

Cash card allows gamers to withdraw virtual funds at ATMs

03 May 2006  |  12243 views  |  0 comments

Related company news

 

Related company information

ABN Amro

Related blogs

Create a blog about this story (membership required)
visit vasco.com/news/PSD2-compliant-solutionsvisit www.finastra.comvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
German fintech factory FinLeap raises EUR39 millionGerman fintech factory FinLeap raises EUR3...
13789 views comments | 19 tweets | 15 linkedin
Mastercard to buy AI outfit BrighterionMastercard to buy AI outfit Brighterion
10000 views comments | 14 tweets | 20 linkedin
Barclays rides payments-as-a-service wave with investment in Form3Barclays rides payments-as-a-service wave...
8950 views comments | 16 tweets | 12 linkedin
hands typing furiouslyThe Digital Trade Chain: the blockchain tr...
8428 views 0 | 8 tweets | 16 linkedin
Mastercard and Scotiabank join Enterprise Ethereum AllianceMastercard and Scotiabank join Enterprise...
7545 views comments | 25 tweets | 16 linkedin

Featured job

£100-120K Basic dependent on experience plus subst...
London

Find your next job