Country for PR: China
Contributor: PR Newswire Asia (China)
Wednesday, June 10 2020 - 23:07
AsiaNet
Huawei Empowers Global Financial Customers' Digital Transformation with Mobile-Centric Strategy and Cloud, AI, and 5G Capabilities
SHENZHEN, China, June 10, 2020 /PRNewswire-AsiaNet/ --

-- Huawei Holds Global FSI Summit 2020 online

Today, Huawei held its Global FSI Summit 2020 (online overseas part) with the 
theme of "Thrive Digitally in a Mobile Future." Financial institutions and 
enterprises were invited to share their experience and insights in dealing with 
the "new normal" in the post-pandemic era, involving accelerated mobile first 
implementation and using FinTech to ensure business continuity and reshape 
financial services models. Huawei believes that mobile capabilities are key to 
future banks. Supporting this mobile-centric business will require new IT 
architectures and key capabilities of cloud, AI and 5G. As a leading tech 
player, Huawei provides its global financial customers with competitive 
financial ICT solutions, and works with various world-leading partners on joint 
innovation.

The summit attracted the world's leading financial institutions including 
Shanghai Pudong Development (SPD) Bank, China Construction Bank, Singapore DBS 
Bank, Sberbank, BBVA, Isbank; the world's leading financial solutions provider 
Temenos, and analyst institutions IDC and other global industry participants.

Financial Institutions that Adhere to the Mobile First Strategy and Going 
Digital Will achieve Greater Success

The COVID-19 pandemic has advanced digital operations in the financial industry 
with more confidence and determination in such implementation. Moreover, the 
industry has demonstrated its advantages and value in applying new technologies 
in digital operations.

Peng Zhongyang, Director of the Board, President of the Enterprise Business 
Group, Huawei, stated: "Based on cloud computing, big data, artificial 
intelligence, 5G, and other ICT technologies, innovative FinTech will embrace 
new opportunities and lead the upgrade of financial services. We have combined 
our 30 years of technical experience, capabilities, and industry insights with 
customer needs, to provide competitive financial ICT products and solutions 
that span multiple domains, and collaborate with various partners for joint 
innovation. We believe that financial institutions that are ready to go digital 
will probably see greater success."

Adhering to the "mobile first" principle to achieve smart experience is the 
foundation for financial institutions' customer-centric business strategies, 
said Jason Cao, President of Global Financial Services Business Unit, 
Enterprise BG, Huawei. "We do believe that the mobile capability will be the 
core of the future of the banking industry. It not only is applicable to the 
interface that connects with client, but also to the internal operations and 
collaborations with partners. Supporting this mobile-centric business will 
require new IT architectures and key capabilities of 5G, AI and cloud. As a 
leader of these technologies, Huawei has unique advantages that supports the 
cloud transformation of financial institutions, builds new connecting 
capabilities, and helps financial institutions improve their agility and 
innovation capabilities," he explained.

The Transformation Experience of Banks in China Empowers the Global Financial 
Services Industry

Over the past 10 years, Huawei has accumulated extensive experience globally. 
Particularly in China market, Huawei has gained experience in leading banks' 
transformation and thriving in the mobile App era. Notably, the banking sector 
has taken a series of measures to ensure business continuity in different 
stages of the pandemic. In the post-pandemic era, banks need to proactively 
reflect on their business model and prepare for any uncertainties in order to 
ensure an agile business moving forward.

Shanghai Pudong Development (SPD) Bank has applied technologies such as 5G, 
IoT, artificial intelligence, and cloud computing since 2018. At the beginning 
of this year, our bank established a three-year action plan, aiming to 
strengthen open banking, promote full-stack digitalization, and create new 
development drivers by focusing on customer experience and digital technology. 
From the strategic perspective, we will promote data operations, technology 
upgrade, and cross-industry collaboration. For example, SPD Bank has developed 
an AI-powered virtual employee, Xiaopu. Through professional training, Xiaopu 
is capable of offering risk assessment, financial consulting, investment 
advice, and news broadcast services online. In the 5G environment, she can work 
perfectly on various devices such as mobile phones, smart watches, and cars, 
making high-quality, personalized, and intelligent services more convenient and 
inclusive.

Pan Weidong, President of SPD Bank, expressed in his keynote speech: "Adhering 
to 'customer-centricity', SPD Bank uses 5G and other technologies to 
continuously innovate customer experience, business models, and open 
ecosystems, and expand the breadth, depth, and width of financial services. We 
will strengthen cross-industry cooperation and innovation. We want to create 
infinite possibilities with connections, inspire infinite momentum with 
intelligence, serve the industry ecosystem with FinTech, and jointly promote 
high-quality social and economic development to embrace a better future."

China Construction Bank (CCB) launched the "TOP+" strategy for financial 
digital transformation as early as 2011. It uses technology and data as a 
two-wheel drive to actively embrace new technologies such as AI, blockchain, 
cloud computing, and 5G, and embed financial services into the four essential 
sectors, namely, clothing, food, housing and transportation. During the 
pandemic, the application of new technologies allows CCB to provide customers 
with "no-contact services" correspondingly. An online loans channel, for 
example, is set timely to meet customer's financial needs. In early February, 
the bank launched a comprehensive service of "anti-epidemic zone" through 
mobile banking and WeChat Bank, providing real-time data on the epidemic 
situation, application for late personal loan repayment, charitable donations 
and other services.

Niu Wenchao, Senior Engineer of China Construction Bank, said at the summit: 
"During the epidemic, while the over-the-counter transactions decreased 
significantly, CCB's online transactions increased slightly. Thanks to CCB's 
dual cloud strategy, the private cloud provides stable operations and public 
cloud assists innovation and development. More importantly, we rely on the 
intelligent data center infrastructure and the highly automated and intelligent 
network jointly built by Huawei and CCB. Digital transformation has laid the 
foundation for us to quickly respond to emergencies and maintain continuity of 
customer services."

Huawei's Data Infrastructure Stimulates Digital Transformation in the Financial 
Sector to Address Mobile Challenges

A strong and powerful real-time connectivity is of the essence when the banking 
sector enters the digital world, and 5G, IoT, and a flexible network are key 
technologies.

Accelerated data infrastructure enables future banking. Joy Huang, Chief 
Strategy Officer, Cloud & AI BG, Huawei, thinks some banks have a sustaining 
robust growth because of digital technologies. These growing companies have one 
thing in common, that is their good online services capabilities based on 
cloud, so that they can be very agile in innovation. Huawei learns from 
customers that the most effective way is to practice multi-cloud, with separate 
clouds for different users, and meanwhile pay close attention to customers' 
last-mile experience for mobile services and smart branches.

User experience improvement of financial Apps is an important part of digital 
transformation. Siri Borsum, VP of Finance Vertical, Global Partnerships & 
Eco-Development, Consumer BG, Huawei, commented: "Huawei's large number of 
device users, strong HMS capabilities, rich market resources, offline retail 
resources, and global human resources will help our partners serve users better 
and improve user experience of mobile Apps."

Network connectivity is one of the core components of the financial data 
infrastructure. Daniel Tang, CTO of Data Communications Product Line, Huawei, 
said: "Huawei's comprehensively upgraded CloudFabric 2.0 data center network 
solution, through the high-density 400GE intelligent ultra-wide, zero packet 
loss intelligent connection and Support differentiated capabilities such as 
intelligent operation and maintenance of autonomous driving networks, lead the 
data center network into the intelligent era, help financial institutions build 
full-scale financial services, and enhance mobile user experience."

Huawei helps financial institutions digitally transform in terms of inclusive 
finance, data-driven business innovation, open banking, and providing customers 
with inclusive, stable, secure, and convenient financial services. To date, 
Huawei has served more than 1,600 financial institutions worldwide, including 
45 of the world's top 100 banks. In addition, it has established comprehensive 
strategic collaboration with 20 large-scale banks, insurers, and securities 
companies around the world, and has become a trusted strategic partner for 
customers' digital transformation.

Huawei's Global FSI Summit is a global ICT event hosted by Huawei and focused 
on the financial services industry. The event was first held in 2013 and all 
attendees are industry elites from financial institutions. For more information 
about Huawei Global FSI Summit 2020, please visit: 
https://e.huawei.com/topic/finance2020/en/ 

SOURCE: Huawei
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