Bank of China Launches 5G-driven Smart Branch in Beijing

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One of China’s big six state-owned lenders has used 5G-technology to create a “smart branch” in the nation’s capital that employs a swathe of the latest fintech applications to further enhance and automate its services.

Bank of China (BOC) launched its first “smart branch” (智能网点) in Beijing on 31 May.

The branch features a broad range of fintech features, including automated smart services, biometric identification, visual identification, voice analysis, procedural automation, augmented reality and virtual reality.

According to BOC customers can access bank services simply by submitting to a facial recognition scan, with no need to present bank cards or ID, interact with staff, or even make tactile contact with electronic devices.

BOC customers can use augmented reality devices at the bank to examine products such as jewellery before making actual purchases.

BOC says the branch also provides bespoke services to clients which matches products to them based on their individual needs.

Wu Fulin (吴富林), Bank of China vice-president, said at the opening ceremony for the branch that the core concept behind its new 5G-driven branch was enabling “finance to meld into life.”

The design concept behind the smart branch was the creation of a “digitised smart space” that provides a “touch-free experience” to banking clients.

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