Huawei has partnered with Chinasoft International (CSI) to release an 
Intelligent Financial Data Solution based on a converged data lake at HUAWEI 
CONNECT 2019. The solution is designed to help financial institutions in 
Southeast Asia and other markets make boundless intelligent financial services 
accessible to the general public, while improving business efficiency and 
driving innovation.

In the future, boundless financial services will move beyond the physical 
boundaries of banks and reach people everywhere. For example, mobile payments 
in China have multiplied 36 times from 1.674 billion in 2013 to 60.531 billion 
in 2018, with convenient financial services now becoming mainstream. 
Intelligent services will replace experience-driven finance to become 
data-driven intelligent finance, providing customer-friendly services while 
also helping banks with operational efficiency, risk control, and 
decision-making. China's banking industry has achieved 1-minute loan approvals 
by integrating Big Data analysis with traditional credit investigation. 

Cao Chong, President of Financial Services Industry at Huawei Enterprise, 
commented, "The transformation and development of the financial industry are 
driven by leading technologies, such as Big Data, AI and blockchain. Creating 
boundless intelligent finance, and adopting a data-driven, AI-enabled, open and 
distributed architecture will be crucial to the success of financial 
institutions moving forward."

As banks try to realize the value of data, they typically face a range of 
challenges including multiple types of data coming from multiple channels, 
difficulties around converged data analysis, and poor use of data. Huawei's 
Intelligent Financial Data Solution offers a complete solution to address these 
challenges by providing three layers – intelligent data infrastructure, a 
converged data lake, and a data and business enablement. This ensures efficient 
data access, converged data analysis, and upper-layer applications are enabled 
by data services, helping banks achieve precision marketing, real-time risk 
control, and agile operations. 

Huawei's Intelligent Financial Data Solution has already enabled a number of 
financial institutions in China to create innovative scenario-specific 
applications. For example, it has helped a top-level retail bank implement 
real-time intelligent risk control and intercept suspicious transactions worth 
more than CNY1 billion annually. It has also helped an insurance company 
intelligently identify suspicious fraud cases, reducing them by over 50%.

Vincent Zhu, Vice General Manager of Southeast Business Unit at Chinasoft 
International (CSI), unveiled the joint solution and revealed that CSI had 
worked with a leading bank in Southeast Asia to implement joint innovation and 
testing for multiple scenarios such as delivering intelligent services and 
achieving real-time risk control. The project is expected to go live for 
commercial use in 2019 and is an important milestone for Huawei-CSI 
collaboration in the Southeast Asia finance industry. 

Zhu said: "The commercial use case in Malaysia will be a valuable reference for 
other financial institutions in Southeast Asia. Over the next 3 to 5 years, 
Huawei and CSI will help financial enterprises in Southeast Asia implement 
boundless intelligent financial services to enhance customer experience and 
business efficiency, accelerate growth opportunities and reduce costs. In the 
future, banks will increasingly focus on intelligent financial scenarios with 
the support of data service providers and the converged data lake. The age of 
AI finance is coming."

The three differentiating advantages of this joint solution are that it is 
converged, intelligent, and efficient. It helps banks redefine converged data 
lakes for finance and achieve more intelligent and real-time data analysis, 
accelerating the conversion from data to value and digital transformation.





Source: Huawei