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Watch AT&T CEO Randall Stephenson discuss banking in a 5G world at the FinTech Ideas Festival

Key Points
  • AT&T CEO Randall Stephenson discussed what banking will look like in a world with 5G technology at the FinTech Ideas Festival Wednesday.
  • Telecom companies have been racing to ready their services for 5G, which will offer faster data speeds compared to today's 4G LTE service.
  • AT&T has been accused of jumping the gun in advertising the "5G Evolution," according to a lawsuit filed by Sprint last month.

AT&T CEO Randall Stephenson discussed what banking will look like in a world with 5G technology at the FinTech Ideas Festival Wednesday.

Telecom companies have been racing to ready their services for 5G, which will offer faster data speeds compared to today's 4G LTE service. AT&T has been accused of jumping the gun in advertising the "5G Evolution," according to a lawsuit filed by Sprint last month. The complaint sought to prevent AT&T from using any variation on 5G like "5G E" in promoting its current wireless network offerings. At the time, Stephenson told CNBC's "Squawk Box," "We feel very comfortable with how we've characterized the new service that we're launching."

Wednesday's talk focused specifically on how 5G will change the world of banking and financial technology. Several reports suggest 5G will help financial institutions speed up transaction times, among other benefits.

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