Santander has kicked off an experiment with Telefonica to explore potential use cases for superfast 5G networks in banking.
Deployed at two bank branches in Alcobendas, near Madrid, the initiative will showcase the potential of 5G in branch-to-branch video conferencing, low latency cloud storage and virtual reality.
Rami Aboukhair, CEO of Santander Spain, says: “The new technology will allow us to have a better connectivity and faster speed of response in transactions.”
While customers will be able to experience the 5G banking experience first-hand, Aboukhair says Santander has agreed to work with Telefonica on more wide-ranging projects, such as the introduction of fully-equipped mobile offices at big events or for emergencies.
In other instance, "the technology will allow relying on a low-latency cloud to deploy critical services in offices without the need to change existing equipment, or having a global 5G backup system that preserves the same features and services that are available with the fixed network".
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