5G Use Case Lab for Banking and Financial Services

Background

The Department of Telecommunications, Government of India, has awarded the Institute a major research project on 5G Use Case Lab for Banking and Financial Services, in June 2020. It is in this background that the Institute has set up the 5G Use Case Lab for Banking and Financial Services.

Vision

Enable Banking and Financial Services to Excel in 5G Adoption.

Mission

  • Build, demonstrate and perform 5G Use Cases for Banking and Financial services.
  • Set up 5G experience lab to demonstrate the use cases
  • Identify security gaps and propose a secure 5G environment for Banking and Financial Services.
  • Nurture start-ups, enable banking and financial services to implement use cases.
  • Leverage existing 5G resources and test beds from industry, research and academic institutions.
  • Create 5G knowledge repository and conduct programmes for Banking and Financial Services sector.

Objective

The key objective of the lab is to explore and develop Use Cases of 5G for Banking and Financial Services.

Initial Steps

During the first year, the primary focus would be to develop and prototype, however, there would be outcomes in the form of case studies, applied research and others. The broad areas for research focus would be:

  • QoS-Net-Slicing: Network slicing could guarantee QoS such as availability, reliability and other parameters for digital channels including ATM, Internet and Mobile banking.
  • QoS-Security: Security should not be an afterthought but built into the design so that digital banking becomes ubiquitous.
  • Algorithms and Models that are related to 5G Use Cases.

Initial Banking Use Cases

  • ATM-NR-VRAR: High bandwidth and low latency will enhance ATMs and make them more usable like bank branches with VR and AR capability. There could be a need for building cheaper and usable gadgets and software development kits
  • ATM-NG-BTS: The high-density requirement of BTS can be extend to ATM centres. This could be disruptive and bring banks closer to network providers
  • ATM-NG-Reduce-Fraud: Digital adoption leading to high Volume, Veracity and Velocity of data improves fraud detection ability
  • MicroPayments-IoT-Gateway: Multiple devices connectivity feature will enhance growth of IoT. IoT devices-initiated payments will become new normal
  • FI-Frugal5G: Frugal 5G is expected to improve connectivity in rural areas and thereby increasing opportunities for Financial Inclusion
  • Alt-Authentication: Sub milli second latency and higher bandwidth can provide voice and other biometric authentications as an alternate to SMS
  • Mobile-IoT-Gateway – IoTs initiate payments, gets authenticated by Mobile and then forwards the transaction to UPI.

Collaboration with the Lab:

5G Use Case Lab is open to working with all interested entities (right from students/academia to large enterprises) to discover and demonstrate disruptive use cases. Please mail to 5gUCL@idrbt.ac.in to engage further.