Corporate trio unveil Europe’s first 5G banking services
In a joint initiative launched in Spain, ZTE, Telefonica and Bank of Santander are offering advanced services and connectivity to the country's financial sector.
ZTE (0763.HK / 000063.SZ), a leading provider of telecommunications, enterprise and consumer technology solutions for the mobile Internet, today announced that it has partnered with Telefonica, one of the world’s largest operators, and Bank of Santander, a global leader in banking services, to announce Europe’s first banking services in Spain.
To implement this project, Telefonica and ZTE have deployed the most advanced 5G pilot network in Alcobendas, a neighbourhood of Madrid. Thus, the Madrilenian municipality becomes part of the 5G "technology cities" (cities with 5G coverage) that previously included Talavera de la Reina, Segovia, Barcelona and Malaga.
The 5G network provided by ZTE includes the radio nodes, the core network and the user equipment. This network is based in the Standalone mode, thus creating an Exchange to Exchange (E2E) standard compliant 5G architecture, without the need for LTE support. The 5G base stations connect to the 5G core network through the Telefonica transmission network.
This project involves three major application cases, including 4K video conference between two bank branches. By virtue of the 5G network, it offers an ultra-high resolution (4096 x 2160) with smooth movement and 30 frames per second with zero latency.
Meanwhile, the project can provide 5G storage, a kind of low-latency cloud storage, located in the edge computing infrastructure of Telefonica.
The project also enables virtual visiting to co-working spaces, such as the Santander Work Café of Velazquez Street in Madrid, by means of virtual reality technologies, 360 video and edge computing.
"The initiative with Santander Spain is the result of the collaboration with our corporate customers to ensure that 5G technology is deployed in a way that fully meets their needs, prioritising the development of the most demanded capacities,” said Emilio Gayo, CEO of Telefónica Spain. “With initiatives like this, we also ensure the early adoption of 5G and the positive impact on the Spanish industrial network."
"This agreement with Telefónica responds to Santander's commitment to innovation and to accompanying our customers in the transformation process towards the new generation of 5G communications,” said Rami Aboukhair, CEO of Santander Spain. ”The new technology will allow us to have a better connectivity, faster speed of response in transactions and to offer all our customers the best experiences and the best possible solutions."
With new solutions like the ones developed for this pilot, 5G will bring new services to the financial segment, such as the banking office in mobility, allowing mobile and temporary offices to support large events.
ZTE is a provider of advanced telecommunications systems, mobile devices, and enterprise technology solutions to consumers, carriers, companies and public sector customers. As part of ZTE’s M-ICT strategy, the company is committed to provide customers with integrated end-to-end innovations to deliver excellence and value as the telecommunications and information technology sectors converge. Listed in the stock exchanges of Hong Kong and Shenzhen (H share stock code: 0763.HK / A share stock code: 000063.SZ), ZTE’s products and services are sold to over 500 operators in more than 160 countries. ZTE commits 10 per cent of its annual revenue to research and development and has leadership roles in international standard-setting organizations. ZTE is committed to corporate social responsibility and is a member of the UN Global Compact. For more information, please visit www.zte.com.cn.