The fifth generation of mobile communication, 5G is expected to produce unmatched customer experiences when it comes to digital banking and making electronic payments. You might have already seen the little 5G indicator appear on your phone screen, as 80% of the US population now has 5G coverage.
5G paves the way for digital banking in terms of cost, network infrastructure, innovation and service agility. Newer contactless transaction forms were adopted across the globe with pandemic era restrictions. As a result, fintech startups and ecommerce took the mainstage as traditional banks struggled to see growth.
Related stories: 5G: A New Digital Era for Banking and Finance (Dataquest)
5 banking innovations that 5G will unlock (FintechNews)