Charging system architecture must be transformed to fully monetise 5G

5G has significantly changed the mobile network paradigm that was established for 4G by providing faster download/upload speeds, increased reliability and support for very low latency, while enabling the adoption of new technologies such as cloud services and edge computing. However, the increased complexity of 5G networks means that the performance of incumbent charging systems and their ability to monetise 5G services is sub-optimal. Communications service providers (CSPs) therefore need to deploy new convergent charging systems (CCSs) that support the features of 5G standalone networks and emerging use cases. Such systems use new architecture and standards to overcome the limitations of current systems.