5G and Next-Gen Consumer Banking Services

By: PhD Krunoslav Ris

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eText | 22 December 2021 | Edition Number 1

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The future has already begin. The banking industry needs to adjust, or it will disappear in the next decade. With the help of 5G, next-generation intelligent ATM-like devices will have highly integrated functions and use technologies such as artificial intelligences-assisted self-service contactless interfaces with facial recognition and digital signatures. This book focuses on new experiences that clients can expect when connected to a 5G network with a 5G device. By 2022 we hope that 5G will:

Drive accelerated mBanking growth
Power augmented reality /virtual reality
Make Video shopping experiences more widespread and compelling
Enable banks to deploy highly personalized customer service experiences
Support time-sensitive banking applications, like online stock trading where milliseconds can determine a gain or loss
Improve security and fraud prevention bycomputing and exchanging more data traveling between parties in real-time
Enhance mPOS transactions and utilization. 5G holds the potential to accelerate mobile point of sale (MPOS) transaction processing time and improve connectivity

In order to explore these topics, this book covers:

• Decentralization of the banks

• Banking without banks

• 5G will change the modern banking industry

• Blockchain adoption by the banking industry