Connecting Credit Unions and Their Members to the Changing World
What will fifth generation 5G mobile networks deliver for your members of the future?
By Jeff Muglia, Sales Director, Tetto 5G
October 5, 2023
The next generation of cellular mobile communications technology has arrived. 5G wireless technology offers an exponential improvement over 4G by providing mobile networks with far higher capacity and reliability, much lower latency, reduced energy usage, and massive connectivity for devices.
Upgraded wireless networks will allow consumers to experience seamless video streaming and lag-free video games while enabling next-generation tools and platforms that draw on artificial intelligence, the Internet of Things (IoT), edge computing and automation, all of which promise to transform how we live and work. A challenge for businesses in 2023 is to develop a “Digital Transformation Strategy” that captures future 5G opportunities while recognizing the current reality that wireless carriers are still building out their 5G networks and many of the 5G applications to support consumer demand have yet to be developed.
Credit unions will need to consider a mix of business-to-business (B2B) and business-to-consumer (B2C) strategies that begin to envision the new world of “edge” computing, smart devices connected to mobile devices, applications based on augmented virtual reality, and a host of IoT devices. As evidence of what is to come, Verizon just recently launched Verizon 5G Edge services, which allows their customers to deploy 5G enabled Mobile Edge Computing (MEC) applications. Intel® Smart Edge is another example of technology that yields new transformative services. Many of these new applications will require faster wireless connectivity, which is what 5G promises to deliver. Envisioning this new world is just starting for many businesses, a first step may be thinking about how to interact with members as they enter your parking area – the new “Edge.”
Examples of Edge Applications
Wireless Communications ▪ Security ▪ Smart Parking ▪ Data Storage
Smart Lighting ▪ Targeted Digital Advertising ▪ Environmental Monitoring
Key questions to consider as you begin your 5G digital transformation journey include: What new or enhanced applications would your members seek? How can you best drive engagement in new smart edge computing world, and What infrastructure will be required? The speed of innovation over the next five to ten years will be amazing.
Connexion Central’s planned national network of SmartHubs will enable property owners to facilitate the deployment of 5G networks, which will enhance their customer’s digital experience.
Connect with Tetto 5G to find out how your credit union can serve the future connectivity needs of members and generate non-interest income.
About Tetto 5G
Tetto 5G was formed by a multidisciplinary team of experienced real estate, telecom, legal, and business professionals who came together to help property owners capitalize on the 5G build-out. To deliver on the promise of revolutionary performance and the expansive coverage of 5G, wireless carriers are investing tens of billions in infrastructure. Tetto 5G connects the carriers with credit union locations enabling the connected society by bringing critical infrastructure to where people live, work, eat, shop, play, refuel, stay, bank and worship.