5G is (Almost) Here: What Wealth Managers Should Know Now, and How They Should Prepare
5G is rolling out around the world, COVID-19 notwithstanding. It’s 10 to up to 100 times as fast as its predecessor 4G, has higher capacity, and provides lower latency. It can be thought of as fiber over the air, and the bandwidth that it offers promises to cure many ills.
The power of 5G will offer forward-thinking wealth managers the opportunity to enrich the client experience, develop new revenue opportunities, and reduce operating costs. Use cases are as varied as the places where 5G radio receivers will sit, ranging from improved mobile, video and contact center experiences, to efficiencies gained from pushing out centrally maintained software across devices and channels. Because there will be a transition period from 4G to 5G, wealth managers have a window to develop their 5G strategy on their own terms, if they act now.