Huawei Vows To Enable Digital Ecosystem-Based Finance in APAC

Huawei held its first virtual Asia-Pacific Intelligent Finance Summit 2021 with the theme “Accelerate Digital Transformation in Banking, New Value Together” on 29 July 2021.

As economies across the Asia-Pacific region continue to recover and rebound, leading banks and financial institutions are accelerating digital transformation, seizing new digitalisation opportunities to reinvent themselves for what the future holds.

This event attracted more than 1,300 financial industry customers, partners, industry experts and media across Asia-Pacific regions.

Huawei invited its core customers and partners from the financial industry which includes the likes of BDO Unibank, KASIKORN Business – Technology Group (KBTG), PwC and IDC to participate in the panel discussion and share their experiences on how they utilised technology to upgrade the industry and range of services on offer by constructing an ecosystem that is agile and intelligent, and ultimately transform themselves into eco-enterprises that are digitally capable.

During the panel discussion, most of the panelists mentioned that they had prioritised investing in their technological capabilities in the past two years and it proved to be a wise move that brought in good returns.

Nicholas Ma

Nicholas Ma, the President of Huawei Asia Pacific Enterprise Business Group mentioned in his opening speech that across the APAC region, Huawei has worked with over 300 leading digital ecosystem partners, to provide ICT services to over 100 financial customers.

“With Huawei 6 scenario-specific solutions, include Financial Cloud, Smart Branch, Financial Ecosystem, Digital Core Banking, Smart Data Center, and Smart Data Storage, aiming to help our customers make smart banking a reality and bringing intelligence to finance.”

added Nicholas Ma.

Huawei’s Response to Digital Transformation

“Huawei has been working with the global financial industry for 10 years and has become an important partner in digital transformation for the industry. Huawei will continue to work with this industry to drive cloud-native computing to ensure financial institutions benefit from a modern and dynamic digital ecosystem that can be continually updated and developed, making use of the latest innovations. Huawei’s ethos is to help financial institutions grow into better digital ecosystem-based enterprises and develop fully connected, intelligent, and ecosystem-based finance together,”

said Jason Cao, President of the Global Finance Business Unit of Huawei Enterprise Business Group.

During Eric Lin, CTO of Huawei Enterprise Asia Pacific Finance Account Department’s presentation, he summarised that there are six important aspects for bank to focus on while designing a strategic plan of the digital transformation journey.

Bank should focus on their customers and partners, by enabling the digital to the core and enhancing data analytics capability to achieve business agility and productivity.

Eric introduced the six solutions Huawei has developed to facilitate the digital transformation from different perspective; the Smart Branch Solution to create stunning customer experience for traditional customers who prefer interpersonal connection as well as the Financial Ecosystem solution to create new business value for customers especially the underbanked or unbanked segments.

Additionally, the Digital Core Banking System is an essential capability for banks to transform while maintaining the stability of the existing system, as well as create new banking services at “fintech speed”.

Next is the Financial Cloud Service which offers banks a secure, fast and scalable cloud environment with minimum upfront investment.

The Smart Data Center includes both SDN and DCI solution as well as modular Data Center, which allows customer to build their data center anywhere with lower cost.

Lastly, the intelligent Data Storage Solution with AI-enabled data management services is capable of managing the entire life cycle of data management to assure the banking critical services are running on the highly available and reliable platform.

For more information about Huawei Intelligent Finance Summit 2021, please visit their website.