Submitted by admin on Thu, 08/11/2022 - 08:00

High cost of branches against decreasing number of transactions

Sequence Number 3 Industry Banking & Finance Banner High cost of branches against decreasing number of transactions How 5G enabled

Using 5G, it should be possible to reduce the infrastructure and running costs of branches.

Data Flows
Title Devices Icon Devices Description
  • Terminals set up to connect to 5G through a router
  • Collect information on usage of each branch: Data + Sensors
  • Cloud base services accessed through 5G enabled mobile phones 🡪 No need for branch
Title Connectivity Icon Connectivity Description
  • Images transmitted to edge and enterprise storage
Title Edge Compute Icon Edge Compute Description
  • Edge facilities used for time-critical activities/transactions: Focus at customer assistance
  • Other activities to be cloud-based
Title Cloud Compute & Storage Icon Cloud Compute & Storage Description
  • All data stored in enterprise data storage, where data ownership belongs to the company
Title Applications & Services Icon Applications & Services Description
  • Non-critical MV/ ML models: Predicted usage base/branch
  • Critical activities at the edge
Title Inform Decision Makers Icon Inform Decision Makers Description
  • Operations only notified of issues which cannot be solved by AI
Title Support Decision Making Icon Support Decision Making Description
  • End of process
Application Logic
Description
  • Identify time-critical activities required to be done, assign them to the Edge computing facility.
  • Deliver banking services through 5G as the end-to-end communication network, allowing complete mobility (e.g., pop-up at community centres, small setup in shared premises).
  • Network and other applications will connect back to the central bank network and cloud.
Description
  • Determine whether special remote banking terminals are needed to offer integrated services.
  • AI (ML) models can be used to provide guidance and advisory to remote bank personnel: Expected questions and potential answers, NLP (Natural Language Processing) could be of use here as well.
  • Keeping track of activities / branch; Predict (AI) for the future and adjust branch activities as such.
  • Having an ongoing focus at what can be done on mobile devices.
Description
  • AI will be edge and cloud-based.
  • Edge is only needed for time-critical transactions.
  • Review services rendered, consider pop-up bank branches, using mobile phones as an end point or remote video service for complex advisory services.
  • Communication with customers could progress towards an XR experience.
Expected benefits Key value created