HUAWEI PUSHES FOR FINANCIAL DIGITIZATION

Today was the first day of the Huawei Intelligent Finance Summit 2021, held in Shanghai under the theme “Accelerating financial digitization, creating new value together”.

PR Newswire reported that the two-day event attracted more than 3,000 clients, partners, experts, and media from the global financial industry. Huawei explained how financial institutions can use technology to improve the industry and the range of services offered by building an agile and intelligent ecosystem and ultimately transform into digital eco-businesses.

Huawei showcased three strategic initiatives for its work in the financial industry: fully embracing cloud-native technology, diversifying and improving use cases within the industry, and aggregating different SaaS products to help financial institutions become better digital businesses.

Peng Zhongyang, Board Member, Chairman of Business Group Enterprise, Huawei, pointed out in his opening speech that as industries upgrade and converge, the financial services industry will transform. so that its operations are cloud-based through an ecosystem of more connected devices, 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 businesses, based on a digital ecosystem, through the co-creation of technologies and scenarios, also through sustainability.

In the keynote address on economic recovery, titled "Global Economic Recovery: Certainty and Uncertainty," Dr. Fan Gang, professor of economics at Peking University and vice president of the China Society of Economic Reform, said.

"The global pandemic is far from over. The digital economy plays a fundamental role in economic recovery. The most important component of this industry, however, is not the production of digital equipment or digital technology itself, but the implementation of new information technologies to transform various industries. Digital finance is the driving force behind the development of the digital economy. There is therefore a need to accelerate innovation in FinTech as FinTech will play a leading role in modernizing the digital transformation of thousands of businesses. industries."

Cao Tong, chairman of HDFH and first chairman of WeBank; Hou Weirong, Managing Director, Transactional Banking Department, China Merchants Bank; Chen Kunte, Head of Digital Transformation of the International Financial Services Business Unit, Enterprise BG, Huawei, and Ye Tan, a famous financial industry commentator, joined the panel focusing on the topic of smart financial transformation.

"The world is going through a digital revolution which is closely linked to finance and which affects us all. Traditional banks are establishing new frontiers. I look forward to the day when bankers and tech-savvy can customize asset sets for users based on their age, wealth and family structure,” Ye Tan said.

Huawei announces three strategic initiatives to make financial institutions better companies based 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.

The first of these initiatives is to encourage institutions to fully embrace innovative and cloud-native technologies that provide optimal infrastructure to accelerate digital and smart convergence and create an agile platform.

Next, the company means to strengthen digitization in all industry scenarios to improve safe and secure data transfer, unleash the potential value of big data, and enhance financial inclusion.

Lastly, its aim is to aggregate different SaaS products to build an open ecosystem for all scenarios and enable scenario-based financial services.

Jason Cao, President of the International Financial Services Business Unit at Enterprise BG, Huawei, said in his speech, “Huawei has been working with the global financial sector 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 computing so that financial institutions benefit from a modern and dynamic digital ecosystem, which can be continuously updated and developed, using the latest innovations. Huawei's objective is to help financial institutions to become better companies, based on a digital ecosystem, and to develop with its institutions a fully connected, intelligent, and ecosystem-based finance."

Shi Jilin, Vice President of HUAWEI CLOUD BU and Director of Global Sales and Marketing Operations, said in her keynote address that the financial industry has always been at the forefront of digital transformation and is at the forefront of digital transformation. stage in the development of digital finance, moving from a single-stage mode to a multi-scenario mode.

She said, “Huawei and the financial industry are growing together to build multifunctional and intelligent FinTech solutions. We presented four proposals: first, fully embrace cloudification, solve the fundamental issues of enterprise cloud access, and guide digital transformation on the right track; second, create a full-scenario intelligent connection, create 'finance + X' to serve all kinds of industries; third, for optimal data collection, bring AI into the core production system of finance and key business processes; fourth, build a financial ecosystem around scenarios and create a green financial industry."

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