Bank trading is getting a tech twist. UBS is giving its London traders an opportunity to test out trading rooms by employing VR goggles from Microsoft.

Since the pandemic started, it goes without saying that corporations were not prepared, which in turn reduced the number of people reporting for work, and coming to banks. While the lockdowns have been lifted and some businesses are slowly opening, the risk of the COVID-19 cases spiking is not a threat to be taken likely, which is why banks like UBS have been looking into other ways to simulate a regular day in the bank.

Beatriz Martin, the chief executive of the UBS UK branch was the first to consider this idea and has suggested starting working groups to work on reimagining the trading floor and also set up screens on the trader’s desks alongside their coworkers to encourage collaboration. 

Some banks such as JPMorgan have attempted to bring their workers back to the office but have had to send some workers home after one of them tested positive for the coronavirus disease. 

Meanwhile, other banks such as Deutsche Bank have made returning to the office as voluntary to avoid the risk of spreading the virus around and that most workers can return to the office in the middle of 2021 when the virus has been contained. 

BlackRock’s chief executive Larry Fink does not expect 100% of the workers to return to the office with the current situation, which is why virtual reality tools would be helpful to aid productivity from the safety of their homes. 

How VR changes the system:

With COVID-19 as a threat, it’s only natural that people are warier about coming back to work in an office, which is why it’s convenient to incorporate virtual reality so that you can simulate a normal workday without risking your health, and the health of others. 

The good thing is that there are multiple companies that specialize in virtual reality, which means you have options to choose from, which works for you. Microsoft launched HoloLens in 2015, and while it was initially perceived to be a gaming device, with their headphones at a price of $3000 upwards, it has since been considered by companies to be a tool for communication.

The first bank to consider using HoloLens for their trading business was Citigroup, in 2016, they developed the Citi system which combined financial data with 3D holograms. While they were looking into making the graphics in a way where clients could interact with the data, Citigroup decided against using the headphones because they felt it was too limited in terms of battery life, display size, and processing function.

Banks are an essential business, and staying afloat is one of the most important things they should focus on when it comes to the pandemic, which is why implementing virtual reality is a good move to replicate trading rooms for bank traders and their current investor clients. 

Most 12-year old kids are busy studying for school, playing videogames, or running around a basketball field. For 12-year old Ojas Batra from Agra, however, he is busy building an empire. At a young age of 12-years old, Batra decided to develop his own company.

Getting to Know Ojas Batra

His business idea stemmed back in January 2020 when he noticed that there are a lot of young children who cannot afford quality education. His concept involves drop shipping or a streamlined retail business where sellers accept orders from clients but do not keep the sold goods in their stock. He developed his entrepreneurial mindset when he noticed that formal types of education, usually in a classroom setting, do not provide for the needed skills and toolsets that pupils need.

He decided to formally drop out of school to pursue his passion for business. He also chose to understand and learn new skills relevant to his company, such as content writing, game development, graphic design, marketing, and the like. With all of these new skills under his tool belt, he can make an impact not just on the business world, but also to the community. 

The Hive: E-Commerce Business Foundation

Batra served as an intern for several tech companies and business industries that served well for his financial acumen and entrepreneurial skills. He Founded the Hive Group, which is comprised of three successful companies:

• Teen Hive is a company whose main objective is to increase a typical teenager’s wellness. Since adolescence is a delicate period brought about by many changes (physically and emotionally), Batra being a teenager himself, decided to provide much-needed support for teenagers. This support includes finding appropriate sources of education, support for mental health, career, and skill development.
• Skill Hive offers low-cost short-term classes offered to anyone – from young kids to senior citizens! It provides a wide array of short-term courses that people can specialize in, in the future.
• The third company, called the Talent Hive, is still a work in progress! Knowing how the first 2 companies boomed, we do not doubt that the Talent Hive will follow suit in becoming a huge success.

What’s Next?

With the success of the Hive Group, what’s next for our teen entrepreneur? Right now, Batra is currently publishing a book entitled “Teenage AF.” The book is a semi-anecdotal of Batra’s life. It also tackles critical societal issues, such as the erroneous parts of the current educational system. It also includes how to live a teenager’s life in a changing world, including having more profound thoughts about acquiring specific skillsets to help individuals find their passion and meaning for their lives. 

Indeed, Batra is an inspiration to many people – young and old alike. His work through the Hive Group of Companies is a testament that age is just a number. With passion, grit, and a purpose to help others, anything is possible.

In the entrepreneurial world, men would often dominate the field. With times changing, more and more females are conquering the business world to make a mark and let their voices be heard. One example is Heather Sanders, the CEO of the fashion label, Sorella Boutique.

Her fashion line started with humble beginnings of having only ten products in her line that, with her determination, boomed into a full product line with a shop at Melrose Avenue to boot! Indeed, Sanders is an inspiration to many aspiring female entrepreneurs who want to make it in the cut-throat industry.

When asked what her secret to success is, Sanders mentioned that a big portion of her success is her ability to stay true and authentic. In fact, here are some of Sanders’ words of wisdom to anyone who wants to pursue their dreams of launching a business.

Sanders’ Food for Thought:

1. “Only compete with yourself.”

In any field, whether it’s dancing, school, or even a yoga session – you should only compete with yourself. Yes, there may be tough competition out there, but you will never go anywhere if you are too busy checking out the competition instead of focusing on yourself and your growth potential.

While it is good to check what are the edge of other companies that you have to watch out for, invest your time, energy, and resources on building the good things of your brand, and you can never go wrong in growing your business.

2. “Support each other!”

In a heavily male-dominated sector, there are only a few brave females who would even attempt to try it out in business. Instead of being catty and pulling each other down, do what females do best, and that is to support each other. Create a social group and maybe share best practices.

Have a session solely dedicated to talk about everything and anything under the sun EXCEPT work. Get to know each other on a personal level, and it gets easier to have each other’s back.

3. “Use fear as a motivating factor.”

Being a newbie in any industry can be quite scary. Use this fear as a motivating factor to reach even greater heights! Do not be afraid to ask questions or speak out your ideas in board meetings or conferences. After all, this is your chance to be heard.

Engage in mentoring sessions with other leaders and experts in the field. The main objective is for you to learn as much as you can and apply it to let your business grow.

4. “Practice determination.”

Some people say that determination comes naturally, but determination requires discipline and lots of it! Choose a goal and make sure that you contribute every single day towards achieving that goal. For example, if you want to promote your brand, there are plenty of ways to do so!

You can host meetings to gather feedback from your colleagues, share best practices with your female group, take online lessons on digital marketing, and up your marketing strategy in your social media accounts. 

5. “Stay true to yourself.”

Some leaders, once they have achieved their perspective of what success is, often divert from the path they once called their true selves. However, many successful leaders remain true to their authentic and genuine selves. In fact, they thrive because of it!

Hopefully, the tips above can help budding female entrepreneurs to launch their new businesses.