- Open Ecosystem and ICT Innovation Accelerates Banking in the Cloud
On May 23, 2017, Huawei held its fifth Global Financial Summit themed "Leading New ICT, Fueling Digital Finance Transformation" in Beijing, China. Bringing together over 800 foreign and domestic finance customers and industry experts, including China Construction Bank (CCB), Agricultural Bank of China (ABC), China Merchants Bank (CMB), Asian Banker, Barclays, Intel, and Infosys, the Summit explored the latest ICT innovations and global best practices to accelerate digital transformation of financial institutions.
Accelerating cloudification and digitization of financial institutions
Commenting on the trends of future banks, Liu Limin, President of Financial Services Sector, Huawei Enterprise Business Group, said: "In the future, banks will transform into technology companies with banking licenses. With financial institutions as platforms, assets, personnel, the supply chain will be connected more effectively. In line with Huawei's 'platform + ecosystem' strategy, we are committed to helping financial service providers build ICT infrastructure and platforms featuring flexible architecture, precise analysis, efficient collaboration, channel innovation, and secure management. We believe advanced ICT platforms are critical for financial institutions to deliver enhanced services, customized products, and smart customer management. Additionally, we are dedicated to fostering the development of an open ecosystem to help accelerate banking in the cloud."
During the Summit, guest speakers also shared their perspectives on future banks, and provided insights and best practices for accelerating cloudification and digitization of banks:
- Emmanuel Daniel, Founder and Chairman of Asian Banker, commented: "With mounting competition in the industry, financial services will increasingly be defined by customer choices and platforms, not by banks. Today, financial service providers are embracing artificial intelligence and data analytics to effectively reach target customers. They need to stay on top of emerging technologies, such as machine learning and self-driving cars, which are disrupting the economy and the way people live and work."
- Jin Panshi, General Manager, IT Management Department, China Construction Bank (CCB), shared how the bank leveraged digitalization to launch in-depth transformation within the organization. He said: "CCB's three-in-one digital transformation model comprises an enterprise-level framework that is driving business transformation, technological transformation, and implementation transformation. A 'centralized + distributed' convergent IT architecture now underpins the converged and intelligent development of CCB's diversified and innovative services and applications. This digital transformation initiative has helped us transform from a siloed department-level approach to a unified enterprise-level approach, enabling new financial services and new possibilities for the bank."
- Yao Huiya, Head of Innovation Research, Webank, believes that: "Cloud is the best delivery method for financial technological innovation." Based on an efficient, open and self-managed IT infrastructure platform, Webank joined hands with Tencent Cloud to build a complete "cloud + bank" ecosystem that supports normalized financial technology innovations, provides enhanced financial services to small businesses and consumers, and delivers "SaaS+" (Software-as-a-Service + industry) to enterprises in the finance and other traditional industries.
New partnerships and comprehensive solutions for the financial sector
During the Summit, ABC and Huawei signed a strategic partnership agreement. Under the agreement, Huawei will optimize and integrate architecture within ABC's multiple data centers and service centers to support its growing international operations. In addition, Pactera and Huawei jointly released a distributed digital banking core solution targeting mobile finance, which will meet the diverse customer requirements for mobile banking and internet financial services.
Huawei showcased 12 major solutions for the financial industry through scenarios and interactive demonstrations in three large sub-exhibition areas: "Cloud Finance", "Big Data Finance", and "Omni-channel Finance".
Huawei's solutions for the financial industry have been deployed by more than 300 financial institutions globally, including six of the top ten banks in the world. In Europe, Asia Pacific, Russia and other regions, Huawei's leading solutions have been deployed by local mainstream financial customers; in China, Huawei has become the IT equipment supplier of the four major state-owned banks.
For more information about the Huawei Global Financial Summit 2017 held at the Shangri-La Hotel in Beijing, please visit http://e.huawei.com/topic/finance2017-en/index.html .
Photo - https://photos.prnasia.com/prnh/20170524/1859722-1
Caption - Liu Limin, President of Financial Services Sector, Huawei Enterprise Business Group