• Kevin Hu, President at Huawei's Data Communication Product Line


• 22.08.2022 07:00 am
#cloud

Nowadays, digital technology is increasingly integrated into the full process of financial services, and we have become accustomed to the "cashless" convenience brought by mobile payments. As pointed out in the FinTech Development Plan (2022-2025) issued by the People's Bank of China, the digitalization of the financial industry has gone beyond multi-point breakthroughs and entered a new stage of ramping up development. Against this backdrop, Huawei proposed three key factors for building up competitiveness in the financial industry at its Intelligent Finance Summit 2022, that is better connectivity, stronger intelligence, and more scenarios.

Financial cloud-network builds new connectivity for smarter and greener finance

Digital finance increasingly becomes cloud-based and constantly evolves towards the future. As seen from financial service requirements, the financial industry is required to ensure quick new service rollout when maintaining its business continuity, financial service security and reliability. In response, Huawei announced the upgraded Financial Cloud-Network Solution at the Huawei Intelligent Finance Summit 2022. By centering on "building clouds, connecting clouds, and going to clouds", this future-proof solution accelerates the cloudification of financial business and builds new connectivity for smarter and greener finance.

Kevin Hu, President of Huawei's Data Communication Product Line, launches Huawei's new Financial Cloud-Network Solution

• Building clouds: Autonomous Driving Network (ADN) capabilities are integrated into the multi-site, multi-data center financial architecture.

Financial innovation inevitably involves infrastructure upgrade, reconstruction, and change. Huawei's solution extends ADN capabilities to multiple data centers, which provides Runbook designer, Multi-Datacenter Controller (MDC), and Agile Open Container (AOC) capabilities, and supports third-party device management and public cloud interconnection. It also automatically connects multiple data centers and public clouds. Using this solution, average service deployment is shortened from days to minutes.

Huawei's solution also enables integrated Operations and Maintenance (O&M) of applications and networks. Specifically, Huawei's iMaster NCE provides open Application Programming Interfaces (APIs) to collaborate with the service performance analysis platform from Huawei partner Netis. This makes it easy to analyze indicators, such as transaction success rate and delay, in real time to implement end-to-end (E2E) business O&M for business continuity assurance. According to a bank deploying the solution, the fault locating time is shortened from 2 hours to 5 minutes and O&M efficiency is improved by 20 times.

In terms of green and low-carbon transformation, Huawei's CloudEngine switches adopt advanced heat dissipation technologies, energy-efficient transmission modules, and high-density port modes. They offer 54% lower power consumption per bit than the industry average. For a data center with 320 servers, that equates to savings of up to 8220 kWh in electricity per year.

• Connecting clouds: WAN traffic compression accelerates the efficient flow of financial business data

When it comes to "connecting clouds", Huawei draws on Wide Area Network (WAN) traffic compression technologies to reduce bandwidth costs while accelerating the efficient flow of financial business data for financial institutions.

Huawei launched the industry's first network-wide multipoint stateless traffic compression solution, which deploys a built-in traffic compression card on WAN devices. In this way, it is possible to compress or decompress traffic at any backbone node, with a traffic compression ratio of 1.6:1. This improves private line bandwidth utilization by over 37%. When WAN traffic increases year by year, capacity can be expanded without adding private lines, slashing private line costs.

With the built-in traffic compression card, all traffic compression and acceleration tasks such as traffic diversion, processing, and forwarding can be completed in a single device. In this way, the traffic processing path is short and efficient, which avoids adding architecture complexity or undermining reliability due to the use of additional devices. This further supports agile innovation in the financial industry.

• Going to clouds: SD-WAN and Wi-Fi 6 accelerate intelligent upgrade of financial branches.

To simplify cloud access for branches, Huawei launched the SD-WAN Solution, which eliminates the need of planning and makes devices plug-and-play. In this way, networks can be provisioned remotely within 10 minutes for superfast access to clouds. A hyper-converged gateway that integrates routing, switching, and firewall functions is deployed for cloud access at branches. This facilitates fast deployment of access policies, flexible selection of multiple links, and easy IPsec configuration to encrypt production services. In addition, Huawei's iMaster NCE-Fabric implements remote management and O&M, as well as network automation and intelligence, ensuring a worry-free network for financial service innovation. In branch office scenarios, Huawei's Fully-Wireless Campus Network Solution enables 20% greater Wi-Fi 6 signal coverage distance than the industry average. It also ensures always-on signals for users and lossless roaming, greatly improving service experience on branch networks.

Financial business development requires many enablers such as fast business deployment and agile service innovation. Huawei's new Financial Cloud-Network Solution meets this by better adapting to digital finance transformation scenarios. Looking ahead, Huawei keeps innovating and continues to work with more financial customers and partners to jointly explore and implement innovative solutions. Such concerted efforts propel the financial industry into a digital future with smarter and greener finance.

Find more about Huawei's financial solutions here.