5G will become a general-purpose technology for financial services firms as it provides super-fast mobile broadband, massive machine-type communications, and ultra-reliable and low-latency communications. 5G will provide new possibilities to create, store, and protect value, to move money, and to access credit.
- 5G will be a lubricant for future financial services offerings. The future of banking will be decided by the services and experiences that a financial services firm can deliver to its customers — not just its products or channel offerings.
- 5G will intensify the competition in the financial services sector. 5G will accelerate data-driven models in finance. The collision of 5G technology and finance will set the tone for the transformation of the financial services sector and the further rise of fintech.
- 5G is not an earthquake in the financial services sector but an ongoing tremor. The financial services sector is rocked by many forces. Technology is certainly changing the nature of financial services, but the full impact of 5G will only be felt in the years to come.
“The CIO’s Guide To 5G In Financial Services” looks at emerging 5G opportunities and helps technology and business leaders at financial services firms prepare their 5G strategies. We believe that in the coming years, leading financial services firms will embrace 5G to deliver real-time value propositions and better employee experiences.