5G: How could it shape the future of banking? | NTT DATA

Mon, 29 June 2020

5G: How could it shape the future of banking?

The first phone call was made over a century ago. Since then we have become a hyperconnected society with a highly-developed technology that has achieved unimaginable milestones.

The development of telecommunications has affected the banking field, leading to new ways of communicating with clients. Calls to managers have been left behind and have been replaced by apps, an essential channel for financial transactions. The relationship with banking has evolved in such a way that even verbal communication has joined this trend. Here is a clear example: the sentence "I have no change" is already less frequent than the expression "I make you a Bizum".

Therefore, we are clearly facing a paradigm shift with new experiences and communication channels for users that are driven by 5G development and IoT technology.  Thus, improvements in speed, latency and connectivity are coming. Within this context, this raises the following question: how will banking technology shake up this technology?


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