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5G edge computing collaboration explores banking use cases

Ericsson, Australian service provider Telstra, and Commonwealth Bank of Australia are teaming up to explore 5G edge computing use cases and network capabilities for the financial sector by testing end-to-end banking solutions over 5G.

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The collaboration marks an Australian first in bringing technology providers and the financial services sector together to explore 5G edge computing use cases and network capabilities.

5G edge computing is expected to simplify the network operations and complexity required at individual bank branches. The collaboration will explore optimal 5G coverage solutions to provide more flexibility for bank operations and locations.

Trials are expected to showcase what the bank branch of the future might look like, and how 5G edge compute could help to reduce the network infrastructure currently required at individual bank branches. 

Speaking prior to the start of Mobile World Congress (MWC) 2019 in Barcelona, Nikos Katinakis, Telstra’s Group Executive, Networks & IT, said the use case will be tested by the partnership in the coming months. 

“These real-world trials will provide valuable lessons and insights for Telstra, our customers, and vendor partners as we continue to deploy 5G,” he said. “They will also help us understand which use cases will best serve our customers and have the greatest monetization potential. The learnings on 5G and edge computing will be used across a broad range of industries.

“5G has the potential to transform the financial services sector and deliver innovation in a faster and more efficient manner. 5G edge computing is all about bringing the network closer to the user or application. For financial institutions like Commonwealth Bank, it will help to enhance existing banking applications as well as deliver new use cases such as artificial intelligence, all supported by a range of software defined networking solutions.”

Pete Steel, Commonwealth Bank Executive General Manager, Digital and Retail Operations and Technology, said: “We’re excited to be working with Telstra and Ericsson to test and learn on 5G and edge computing. These technologies have significant potential to enhance the availability, stability and performance of our network infrastructure and we hope they can help us provide quicker and better digital experiences for our customers.”

Emilio Romeo, Head of Ericsson Australia and New Zealand, said, “We are working with Telstra, and leading Australian financial institution, Commonwealth Bank to push the boundaries of technology and create new and agile wireless network services across Telstra’s network. Through this collaboration we will see first-hand the benefit that 5G will bring to a range of industries, and we’re delighted to be collaborating with these two leading businesses, to drive 5G innovation in Australia.”

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