The financial sector must adapt and accelerate the pace of transformation
Peng Zhongyang, Board Member, Chairman of Enterprise Business Group, Huawei, in his opening remarks, pointed out that as industries modernize and converge, the financial services industry will transform to be cloud-based operations through a more connected device ecosystem designed for all scenarios. He added that Huawei is currently working with its customers and partners to enable them to become more sustainable and resilient digital ecosystem-based businesses, through the co-creation of technologies, scenarios and sustainability.
In the opening speech on “Global Economic Recovery: Certainty and Uncertainty”, Dr. Fan gang, professor of economics, Peking University; Vice President, Chinese company of economic reform, said: “The global pandemic is far from over. As a new engine of economic recovery, the most important component of the digital economy is not the production of digital equipment and digital technology itself, but the application of new information technologies. to transform various industries. Digital finance is the driving force behind the development of the digital economy. It is therefore necessary to accelerate innovation in financial technologies, because FinTech will play a leading role in the modernization of the digital transformation of thousands of industries.
Cao Tong, Chairman of HDFH and First Chairman of WeBank; Hou Weirong, Managing Director, Banking Transactions Department, China Merchants Bank; Chen Kunté Chief Digital Transformation Officer of Global Financial Services Business Unit, Enterprise BG, Huawei and Ye Tan, Well-Known Financial Critic have joined the Panel: Intelligent Finance Transformation.
“The world is going through a digital revolution, which is closely linked to finance and concerns us all. Traditional banks are pushing their limits. I look forward to the day when bankers and tech geeks can customize asset packages for users based on their age, wealth, and family structure. Said by Ye Tan.
Huawei announces three strategic initiatives to transform financial institutions into Better businesses built on the digital ecosystem
Huawei has announced three strategic initiatives it will develop in the financial sector to help financial institutions become better businesses based on the digital ecosystem. These included:
(1) Encourage institutions to fully embrace innovative cloud native technologies that provide optimal infrastructure to accelerate digital and smart convergence and create an agile platform.
(2) Deepen digitization in all industry scenarios to enhance safe and secure data transfer, unleash the potential value of big data, and enhance financial inclusion.
(3) Aggregate different SaaS products to create an open ecosystem for all scenarios and enable scenario-based financial services.
Jason cao, Chairman of Global Financial Services Business Enterprise BG, Huawei, said in his speech, “Huawei has been working with the global financial industry for 10 years and has become an important partner in the digital transformation of the industry. Huawei will continue to work with this industry to boost cloud native computing to ensure that financial institutions benefit from a modern and dynamic digital ecosystem that can be continually updated and developed, using the latest innovations. Huawei is to help financial institutions become better businesses based on the digital ecosystem. and together develop fully connected, intelligent and ecosystem-based finance “.
Shi Jilin, vice president of HUAWEI CLOUD BU and President of Global Marketing and Sales Service, said in her opening speech that the financial sector has always been at the forefront of digital transformation, and is at the stage of digital finance development, of a stage unique to a multi-scenario.
She said, “Huawei and the financial industry are growing together to create versatile and intelligent FinTech solutions. We put forward four proposals: first, fully embrace cloudification, solve the fundamental issues of enterprise cloud access, and guide digital transformation on the right path. ; second, full-scenario intelligent connection, create “finance + X” to serve all kinds of industries; third, to carry intelligence to the end, AI will enter the core production system of finance and the main business processes; fourth, create an ecosystem around scenarios and create a green financial industry. ”
Creating new value in the financial sector with the clients of the World Bank to jointly build a new financial future
At today’s meeting, various banking executives shared their stories and achievements in the digital transformation of Chinese financial companies.
Huawei has worked closely with DBS Bank to enable their digital transformation to meet their evolving needs. In 2020, Huawei received from DBS the 2020 Most Valuable Technology Partner award among a selection of 64 other global technology providers.
Tan Choon Boon, Head of Engineering and Cloud Services at DBS Singapore, said: “DBS has developed a strategy focused on five key elements for digital transformation: Driving Comprehensive Organizational Change, Including Success-Driven Organizations business ; pass from “projects at platforms; integrate a modern system design; build excellent agile teams; and move towards full automation. In the future, the two sides will continue to strengthen their cooperation in the fields of cloud, artificial intelligence and IoT. We have worked closely with Huawei to meet the evolving demands of the bank and drive digital transformation. ”
The financial sector varies considerably from region to region of the world, there are still many people as well as small and medium enterprises who cannot access basic financial services. Financial institutions in many countries have taken swift action to build digital platforms like mobile wallets and mobile payments with partners like Huawei. These platforms are used to create an ecosystem of super apps, like the Kenya NCBA, to help these financial institutions make significant strides in improving their service offerings. Keynote1 added to customer speech.
During the summit, Sitoyo Lopokoiyit, CEO of M-PESA Africa, said: “We have seen the power of M-PESA and mobile money in Africa by transforming the way we can make an impact in terms of society. Today, we have over 350,000 businesses and over 5 million micro-SMEs using our services. On the other side, we have 58 million customers who use our different products and services. At the heart of it all is our technology and our partners such as Huawei play a key role in ensuring that our technology architecture meets the needs of our business and our customers. “
Huawei Launches Go Global Financial Partnership Program (FPGGP)
During the summit, Huawei announced the official launch of the Go Global Financial Partnership Program (FPGGP). The company will work with partners in the financial services industry to leverage Huawei’s deep experience and technological innovation capabilities in financial digital transformation.
The initial FPGGP has 25 members, including seven board members from Huawei, Sunline, Tongdun Technology, Netis, Wallyt, Sinosoft and Chinasoft International.
Huawei’s vision is to create a versatile open ecosystem and enable global financial institutions to serve users across various industries. During the summit, Huawei is exploring additional cooperation agreements with financial institutions such as Temenos and plans to release 15 joint solutions covering a diverse set of use cases.
For more information, please visit: https://e.huawei.com/topic/2021-event-fsi-summit/en/index.html
Photo – https://mma.prnewswire.com/media/1525302/1.jpg
Photo – https://mma.prnewswire.com/media/1525305/2.jpg