Santander tries out banking's 5G future

Santander has kicked off an experiment with Telefonica to explore potential use cases for superfast 5G networks in banking.

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Santander tries out banking's 5G future

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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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