FINTECH
Huawei ©
5G TECHNOLOGY
34
Convergence of digital industry business models and emerging technologies
5G is not occurring in a vacuum . On the contrary , it is part of a convergence of cross industry business models and other technologies – with fintech at the centre , driving mobile disruption in the areas of three core needs we have as humans to “ consume ” financial services :
1 . Payments : we need to pay for goods , services , and to thrive and survive ; we need to pay our bills – anytime , anyplace and from any device .
2 . Credit and Lending : if we don ’ t have enough money to pay for things , we need to borrow – ideally , on the spot , with very quick rapid credit approval , and in some locations where there are no standard credit bureaus or data available .
3 . Deposits , investments and insurance : when we have excess money beyond our core savings , we invest or buy asset protection and insurance products . All of these new expectations are growing to meet our needs 24 / 7 anywhere will require mobile and the convergence of AI , Blockchain , IoT , and Advanced Cybersecurity , which will need 5G for the best performance , especially in times of local , regional , and international impactful crises .
MAY 2020