Telefonica announces 5G banking services

Telefonica has partnered with ZTE and Bank of Santander, a global leader in banking services, to announce Europe’s first 5G banking services in Spain.

To implement this project, Telefonica and ZTE have deployed the most advanced 5G pilot network in Alcobendas, a neighborhood of Madrid. Thus, the madrilenian municipality becomes a part of the 5G Technology Cities that previously included Talavera de la Reina, Segovia, Barcelona and Malaga.

The 5G network provided by ZTE includes the radio nodes, the core network and the user equipment. This network is based in the SA (standalone) mode, thus creating an E2E standard compliant 5G architecture, without the need of LTE support. The 5G base stations connect to the 5G core network through the Telefonica transmission network.

This project involves three major application cases, including 4K Video conference between two bank branches. By virtue of the 5G network, it offers an ultra-high resolution (4096×2160) with smooth movement and 30 frames per second with zero latency.

Meanwhile, the project can provide 5G storage, a kind of low latency cloud storage, located in the edge computing infrastructure of Telefonica. Moreover, the project also enables virtual visiting to co-working spaces, such as the Santander Work Cafe of the Velazquez street in Madrid, by means of virtual reality technologies, 360 video and edge computing.

“The initiative with Santander Spain is the result of the collaboration with our corporate customers to ensure that 5G technology is deployed in a way that fully meets their needs, prioritizing the development of the most demanded capacities,” said Emilio Gayo, CEO, Telefonica Spain.

“With initiatives like this, we also ensure the early adoption of 5G and the positive impact on the Spanish industrial network,” added Gayo.

Rami Aboukhair, CEO, Santander Spain said, ”The new technology will allow us to have a better connectivity and faster speed of response in transactions and to offer all our customers the best experiences and the best possible solutions.”



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