Transforming Financial Services
An obvious advantage of 5G in the finance industry is its ability to speed up services, which, to customers, can mean instantaneous online transactions. In addition to this, it can also encourage more users to utilize mobile finance applications. This can allow financial institutions to collect more data and create more personalized services. Add machine learning and AI to the mix, a whole range of benefits appear.
For instance, AI, when paired with 5G, can read faster through financial documents. This can tremendously help banks with lending and credit risk assessment, and assist insurance appraisers in approving claims faster. AI-powered chatbots can also help financial institutions in customer management by enabling live assistants focus on more urgent transactions. 5G and AI together can prevent fraud by quickly tracking, identifying, and flagging potential threats.
As customers evolve in this fast-paced world, they are more likely to lean toward services that offer immediate results through the most convenient and safest channels. There is an increase in demand for real-time online services, especially in the finance industry. With more consumers becoming mobile, banks and insurance companies should start being on their toes.
Bringing People to the Future
5G's economic advantage to early adopters cannot be denied. A Qualcomm report expects the full economic benefit of 5G to be realized across the world by 2035. By then, 5G mobile technology may be directly responsible for the global production of goods and services worth up to $12.3 trillion.
For Filipino users, the 5G-empowered IoT is closer than you think. Globe Telecom is steadily rolling out 5G services in Metro Manila—starting with Filipino homes through Globe At Home Air Fiber 5G and eventually expanding to businesses.
At Globe Business, not only do we aim to help enterprises pursue their digital journey. We also strive to empower them to create the unbelievable with next-level connectivity solutions, which will eventually include 5G. Its mainstream adoption will enable companies to do more and be more—to improve the way they do business and the way they interact with customers. Together with IoT, 5G can bring people to a better future. And that future starts now.
Interested to learn more about our products and solutions? Arrange a consultation with a Globe Business Advisor today.
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