Huawei and Ecosystem Partners Hold the Global FSI Summit in Beijing
- 26.04.2018 04:57 am
The concept of digital banking is being implemented globally. Leaders of the global banking industry are thinking about how to implement digital transformation in essence. Today, Huawei held the Global Financial Services Industry (FSI)
Summit, with the theme "Leading New ICT, Accelerating New Digital Finance Transformation" at the Shangri-La Hotel in Beijing. This summit attracted more than 800 financial customers and industry experts from financial institutions and consultancies worldwide. These included Industrial and Commercial Bank of China (ICBC), DBS Bank of Singapore, China Life Insurance Group, China Minsheng Bank (CMBC), the Agricultural Bank of China (ABC), China Merchants Bank (CMB), and China Pacific Insurance Group (CPIC).
Financial institutions will become a platform that connects everything and drives financial innovation
The Leading with Digital in Banking white paper recently released by the International Data Corporation (IDC), a global consulting firm, identified that digital banks around the world are shifting from digital services to digital transformation. The next wave of banking transformation will start with fully-connected banks. Banks are becoming more open regarding technologies and business models. The bilateral relationship between traditional banks and FinTech companies will evolve into an organic ecosystem. Transformed and strengthened core systems will lay the foundation for new growth in the banking industry. Ma Yue, Vice President of Huawei Enterprise BG, President of EBG Global Sales said that“With the digital transformation trend in the financial industry, financial institutions across the globe need to continuously deepen their digital strategies and transformation initiatives to achieve platform-based strategic transformation. Banks are the platform that connects everything and provides digital financial services in a fully-connected era. Huawei follows the platform + ecosystem; strategy, helps global financial customers develop scenario-based products and services and implement intelligent customer management.”
Ma Yue, Vice President of Huawei Enterprise BG, President of EBG Global Sales
The foundation for implementing the financial platform strategy is that the ICT infrastructure is platform-based and has a prosperous financial ecosystem. Kong Bing, Deputy General Manager, HQ Information Technology Department, ICBC, said that, under the background of the rapid development of information Bank, ICBC has started the Smart Banking Information System project, which will be around the whole line of business transformation work requirements, further strengthen the deep integration of finance and technology, and continuously strengthen the foundation for the innovation of science and technology, for the better Smart Banking transformation.
Kong Bing, Deputy General Manager, HQ Information Technology Department, ICBC
Focusing on integrating financial value, Huawei brings full connection
With the development of technologies such as cloud computing, 5G, Big Data, AI, and blockchain, facial recognition applications for payment authentication, unattended bank branches, and cross-border settlement are becoming a reality. In the future, financial institutions will become a comprehensive platform for financial information bearing and transactions, and connect all people and things. Huawei focuses on integrating financial values, ensuring better connections, and cooperating with industry partners to accelerate digital transformation.
Looking to the future of the banking industry, Brett King, the author of Bank 3.0 pointed out that “5G will push the bank to be real-time. By 2025, more people will transact and interact with their money on a computer, smartphone, voice and augmented reality every day, than those that visit the world’s collective network of branches on an annual basis.”
Brett King, the author of Bank 3.0
During the afternoon, bank customers and system integrators from home and abroad gave excellent speeches and interactive discussions at the two tracks, Finance–New Platform and Finance–Full Connection. The afternoon also saw the establishment of Huawei-CMBC joint innovation lab. In addition, Huawei FusionInsight LibrA, a new-generation converged data warehouse, made its debut in China. This data warehouse aims to provide a unified, scalable, and high-performance data analysis platform to enhance the real-time data processing capability of financial institutions.
The full-stack ICT financial solution drives new digital financial transformation
At the summit, Huawei demonstrated 16 major financial solutions, in a scenario-based manner, in a 6002 exhibition area that contained four sub-exhibition areas: Finance Cloud, Financial Big Data, High-Performance Open Platform, and Smart Branch.
Financial Cloud Exhibition Area: Financial cloudification has become an industry trend. Abundant cloud infrastructure solutions, such as the intelligent financial O&M platform, financial private cloud, SDN network, and cloud disaster recovery solution, are starting to be noticed. This exhibition area also revealed the bancassurance business SaaS cloud solution, developed by Huawei and Sinosoft based on Huawei's public cloud. This solution can help small-and medium-sized commercial banks quickly implement bancassurance businesses.
Financial Big Data Exhibition Area: The next-generation converged data warehouse solution, based on the x86 platform and distributed technology, has industry-leading performance and supports online fast capacity expansion. This solution has been applied to numerous large commercial banks such as ICBC.
High-Performance Open Platform Exhibition Area: FusionCube, based on x86 hyper-converged architecture, supports fast construction of unified management and standardized resource pools, helping banks quickly integrate branches' resources. The memory computing platform of GridGain Systems, based on Huawei's hyper-converged architecture, helps banks improve customers' real-time experience and has been used by Sberbank, the largest commercial bank in Russia.
Smart Branch Exhibition Area: Multiple solutions, such as mobile office desktop cloud and All-in-one equipment room for bank branches, are displayed in real service mode. The Mobile Money solution has served over 150 million people in 19 underdeveloped regions, with more than 35 million transactions per day.
The financial industry is a high-value industry that Huawei has invested in for many years. Huawei's digital banking solution has been put into commercial use in more than 300 financial institutions, including 6 of the world's top 10 banks. In Europe, the Asia Pacific, Russia, and other regions, Huawei has entered the local mainstream systems of financial customers. This has helped many Fortune Global 500 financial institutions, such as BPCE. In the Chinese market, Huawei has become a mainstream IT equipment supplier of the four major state-owned banks, as well as China Development Bank, and Bank of Communications.
Huawei Global FSI Summit, hosted by Huawei, is a global ICT event that focuses on the financial industry. The first summit was held in 2013, and all participants of this summit are elite members of the financial industry. For more information about Huawei Global FSI Summit, please visit: http://e.huawei.com/topic/finance2018-cn/index.html