Home5GAthonet targets financial services sector with private 5G lab in London’s Square Mile

Athonet targets financial services sector with private 5G lab in London’s Square Mile

Private cellular network specialist Athonet has opened a 5G lab in the heart of London’s financial district dedicated to the financial-tech (fintech) scene. The initiative signals the Italy-based firm’s decision to move in earnest into the finance sector, by offering private 5G as a secure SIM-based connectivity solution for better banking.

The new lab is a joint effort with Cellnex, Clarus Networks Group, COLT, Freshwave, Tata Communications Transformation Services, and Wireless Infrastructure Group, as well. A press note says the new private 5G lab will help sundry financial institutions and financial technology providers to “discover, develop and integrate highly secure 5G technology into their business, operations and products”.

Athonet envisions a scenario where “trading floors and teams” run AR/VR collaboration and experiential tools on 5G. It said software-defined (SD-WAN) and subscription-based (SASE) private 5G networks will help financial institutions, starting in the Square Mile in London, to enable and secure digital workflows, remote working, and wireless point-of-sale (POS) transactions.

Athonet has devised a 5G kit for fintech companies called SecuriCell (see image) that includes the core network and radio network, plus SIM cards, smartphones, and customer premise equipment (CPE). It also comes with VoNR support, a 36-month license, professional services, plus service maintenance and software upgrades. Athonet is shipping the product in a rugged case, via sales partners. It is available for banking types to test the security and performance of its private 5G solution.

Nanda Menon, chief executive for Athonet in the UK, said: “Financial institutions want to transition and evolve the way they do business to incorporate wireless technology but are facing increased security threats. As the world moves from wireless first to wireless only, private 5G with its SIM-based security can provide better security than traditional wireless LAN solutions while also embracing new opportunities. In the Athonet 5G lab, we can show financial institutions how to enjoy wireless freedom with the security and performance they expect.”

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