What banks, credit institutions and other financial institutions can expect from the launch of 5G, the fifth generation of mobile communications
B Anka, credit institutions and other financial institutions can not be called fans of technological innovations and innovation. They prefer to take a wait and see attitude when it comes to technology adoption. But experts say financial institutions need to change their strategy when it comes to 5G.
Note that the fifth generation of mobile communications is already available in limited access in several cities in the US and Europe. Bob Legters, head of data processing and analysis at FIS, believes 5G technology will be a key factor in improving the consumer experience. Dan Latimore, head of the research department of the company Celent, said that 5G technology will have a dramatic impact on the financial sector, although previously thought that financial institutions should not hurry with its implementation. Other experts believe that 5G technology will be a much more significant transformation in the field of mobile technology than previous ones.generation of mobile communications. Also, experts warn that the refusal of enterprises to implement 5G technology will lead to negative consequences for them, as well as the emergence of new players.
According to various sources , 5G technology will be fundamentally different from 3G and 4G will increase the connection speed by 10-100 times compared to 4G . Experts say 5G technology will be able to compete with wired broadband systems, including even those that use optical fibers. With 5G technology, you will be able to eliminate delays during downloads, streaming and connections. In addition, the connection speed will not depend on the number of people who use their mobile devices at the same time.
Despite the positive qualities of the fifth generation of mobile communications, protests have already been organized against the launch of 5G. Some people believe that this technology can be harmful to humans, animals and plants. However, 5G technology is already being tested in some cities, and tech giants like Motorola and Samsung have already announced 5G phone models. Experts say the full rollout of 5G is likely to happen by 2025.
In world, the introduction of a new communication standard is still under discussion, so the bankers have enough time to develop cases for the use of the new technology.
Based on materials from: thefinancialbrand.com
B Anka, credit institutions and other financial institutions can not be called fans of technological innovations and innovation. They prefer to take a wait and see attitude when it comes to technology adoption. But experts say financial institutions need to change their strategy when it comes to 5G.
5G: expert opinion
In connection with the launch of 5G technology, the fifth generation mobile communications in the advanced countries of the world, the experts decided to find out whether the big companies are willing to that of Kim innovations. There has been a lot of confusion and confusion among business leaders about 5G technology so far, according to a survey by consulting firm Accenture. They recognize that the introduction of 5G can increase their competitiveness in the market, but will the consequences be that significant?Note that the fifth generation of mobile communications is already available in limited access in several cities in the US and Europe. Bob Legters, head of data processing and analysis at FIS, believes 5G technology will be a key factor in improving the consumer experience. Dan Latimore, head of the research department of the company Celent, said that 5G technology will have a dramatic impact on the financial sector, although previously thought that financial institutions should not hurry with its implementation. Other experts believe that 5G technology will be a much more significant transformation in the field of mobile technology than previous ones.generation of mobile communications. Also, experts warn that the refusal of enterprises to implement 5G technology will lead to negative consequences for them, as well as the emergence of new players.
According to various sources , 5G technology will be fundamentally different from 3G and 4G will increase the connection speed by 10-100 times compared to 4G . Experts say 5G technology will be able to compete with wired broadband systems, including even those that use optical fibers. With 5G technology, you will be able to eliminate delays during downloads, streaming and connections. In addition, the connection speed will not depend on the number of people who use their mobile devices at the same time.
5G in Banks: Uses
- Fast and convenient video communication. 5G technology will help provide a comfortable real-time video chat between the bank and its customers in order to conduct consultations and resolve issues
- ATM network. 5G technology will make ATM placement much more flexible
- Banking capabilities, including payment functions of wearable gadgets will also expand
- The joint work of artificial intelligence, 5G technology and large amounts of data will make it possible to collect information in real time, thereby increasing the personalization of services.
- It is possible that 5G technology will eliminate the need for mobile banking applications, as 5G will allow for a large number of transactions in the cloud
- Also in the possibility of 5G networks will give a huge impetus to the development of the Internet of things.
- With the help of 5G technology, it will be possible to provide a higher level of protection against fraudsters, since the high speed of 5G will instantly analyze geolocation, transactions and other data, which will lead to a decrease in the number of false transactions.
Despite the positive qualities of the fifth generation of mobile communications, protests have already been organized against the launch of 5G. Some people believe that this technology can be harmful to humans, animals and plants. However, 5G technology is already being tested in some cities, and tech giants like Motorola and Samsung have already announced 5G phone models. Experts say the full rollout of 5G is likely to happen by 2025.
In world, the introduction of a new communication standard is still under discussion, so the bankers have enough time to develop cases for the use of the new technology.
Based on materials from: thefinancialbrand.com
