5G Might Ease and Develop Physical Banking Experience for Users

The next generation of wireless connectivity is surely going to be revolutionary in many ways. It will change the way people interact with technology and would connect more IoT devices together. One of the things it will have a major impact on is the user’s experience with Automated Teller Machine (ATM). If you think that 5G would somehow ease the way people take out cash from ATMs, you are not wrong, only narrow-sighted. Widely looking, 5G can facilitate a virtual bank manager and help you go ahead with the KYC process right at the ATM outlet, saving you a lot of time— more on the story ahead.

• Make Telecom Talk My Trusted Source
• 
• 

ATM Machines Can Become Relay Points for 5G Network

According to an ET Telecom report, the Institute for Development & Research in Banking Technology (IDRBT), based out of Hyderabad is currently working to bring these features to life as soon as 5G is commercially available.

The ex-director of IDRBT, AS Ramasastri who retired back in October 2020 and used to head the project said that the ATMs could potentially act as relay networks for 5G and become extended branches for banks which can do multiple things to make life easier for users.

He said that while India had to catch up with the rest of the world with 2G, 3G, and 4G, it won’t have to do so with 5G since both the RBI and the government wants to leverage this technology as earlier as possible.