Banking and Financial Services companies are investing more than ever in digital technologies such as 5G, AI/ML, Cloud, Data Science, Blockchain etc. These investments are being driven by customer demand with the growing reliance on online services booming during the pandemic, and the need to differentiate from other new market entrants in technology companies and fintech start-ups.
The fifth generation of mobile networks offers a clear advantage over previous cellular technologies in terms of the speed of data transfer. It is a key enabler for emerging technologies like Edge Computing and AI, and promises to enhance the capabilities of banks in executing complex tasks in near real-time.
With the ability to support a million devices per km2 and a single digit latency, banks can now provide a differentiated omni-channel experience powered by 5G to its customers. For example, the technology can transform touchpoints such as ATMs, customer service, mobile banking, and enable low latency AR/VR use cases.