Monday, 25 February 2019 08:46

Telstra, CBA to trial 5G for banking Featured

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Telstra, the Commonwealth Bank and Ericsson plan to explore the use of 5G communications technology to move processing in the financial services sector closer to the edge.

The three companies hope to come up with a vision for the bank branch of the future, and to show how 5G edge computing can reduce the network infrastructure needed at individual branches.

"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," said Telstra group executive for networks and IT, Nikos Katinakis.

"Together with Ericsson, we are pleased to be working closely with Commonwealth Bank, an industry leader, to help them design and deliver the next generation of banking services, powered by Telstra's 5G technology and using edge computing."

Commonwealth Bank executive general manager, digital and retail operations and technology, Pete Steel, 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."

And Ericsson ANZ head Emilio Romeo 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."

Telstra recently announced that it would be the first to sell the Samsung Galaxy S10 5G in Australia, that it will be Australia's exclusive supplier of the LG V10 ThinQ 5G handset, and that it will be selling Oppo's first 5G handset when it is released in Australia.

Late last year Telstra demonstrated the HTC 5G Hub device. The telco expects to be the exclusive supplier when the Hub goes on sale in the coming months.

And during the last six months Telstra has activated 5G technology in "selected areas" of Adelaide, Brisbane, Canberra, the Gold Coast, Hobart, Launceston, Melbourne, Perth, Sydney and Toowoomba, so customers in these areas will get the benefit of 5G as soon as they buy suitable devices.

"Throughout 2019, we will be extending our 5G footprint even further to cover more cities, selected regional areas and traffic hotspots, ensuring even more Australians can access Telstra's leading 5G technology," said Telstra chief executive Andrew Penn.

Image: Alpha (CC BY-SA 2.0) via Flickr.

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Stephen Withers

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Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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