Brief

Credit Union Technology Watch: 5G Networks

Emerging 5G technology is expected to become commonplace. Uncover opportunities to leverage 5G to benefit your organization and your members.

Download The Brief

By Financial Health Network

Category:

Payments

Monday, September 21, 2020

Credit Union Technology Watch: 5G Networks

As emerging 5G technology becomes commonplace, the ways that credit union members connect to their data will completely change. Credit unions on the forefront of this revolution have the potential to realize significant return on investment. Our research uncovers opportunities for leaders to leverage 5G to benefit their organizations and their members.

Top Takeaways

Our research shows that this major evolutionary step for wireless service will unlock key opportunities for innovation in credit unions.

5G is a fifth-generation wireless service that has tremendous bandwidth advantages over previous generations, expected to be widely available by 2022.

Companies like Verizon, AT&T, and Qualcomm have invested billions of dollars in 5G infrastructure, recognizing the benefits to entire economies, sectors, and societies.

Credit unions can leverage 5G networks to improve member experiences with tech tools for automation, augmented reality, and AI chat, while also enhancing cybersecurity and powering mobile performance.

Data Spotlight

Compared with current network capabilities, 5G can transmit complex data up to 10 times faster.

SEE MORE DATA >>

Our Supporters

This report is made possible through the financial support of Members Development Company and National Credit Union Foundation.