Technology is moving forward in leaps and bounds. The advent of fifth generation mobile networks will change the way people interact with each other. We want to be part of this revolution as we become the first bank to use 5G technology in the services we provide.
The impact of the new fifth generation mobile network will change the way we communicate, expand the capacity of the information highways, and enable a wide range of everyday devices, from lights to cars, to connect in real time.
This new technology will streamline and facilitate digital processes in every respect. The speed of connection, transfer and download could be ten times as fast as the current fibre optic rate. This means that we will be able to download files and connect to services in milliseconds.
Response times will be drastically reduced, enabling us to connect with our devices in real time and without delay. What is more, the number of devices that may be interconnected will increase. Our homes, vehicles and mobile devices, as well as industrial robots and even our offices: everything will be connected and will share information in real time.
And 5G networks will not only have an impact on technology but will also foster environmental sustainability. New fifth generation batteries will last 90% longer than current ones, saving a large amount of energy and improving efficiency.
The first 5G Smart Network branch, with the help of Santander
Given the significance of 5G for technology and the environment, at Santander, together with Telefónica, we decided to launch a revolutionary project aimed at applying this innovative technology to our banking services.
This gave rise to the launch of the first 5G Smart Network branch, in Alcobendas, a suburb of Madrid. This is the first 5G-connected bank branch in Europe. At the branch, three use cases have been implemented: 4K videoconferencing, low latency cloud storage and virtual reality.
But Alcobendas will not be the only location with a 5G-connected bank branch. Other Spanish municipalities will be added to the list, such as Talavera de la Reina, Segovia, Barcelona and Málaga.
“New technology will enable us to gain connectivity and response speed in transactions, and offer our customers, whether individuals or companies, the best possible experience and solutions,” according to Rami Aboukhair, CEO of Santander Spain.
The financial sector cannot watch this technological revolution from the sidelines. It must make the most of the opportunities offered by 5G in order to improve, while focusing on maintaining maximum security at all times. Because security and technological innovation must go hand in hand.