July 20, the three-day Huawei Intelligent Finance Summit 2022 officially begins at Sands Expo and Convention Centre. Under the theme of “Shaping Smarter, Greener Finance”, the summit is bringing together financial industry leading figures, KOLs, academic experts, and innovative practitioners from more than 30 countries around the world to discuss the future development of the financial industry, exploring how to build smarter and greener finance together.
Huawei proposed three core elements for gaining competitiveness in the financial industry, upon the arrival of the super digitalization era
With the fully connected intelligent world on its way, both the economy and society are transforming towards two major trends of digitalization and sustainable development. In face of changing financial service scenarios and business models in the digital era, the financial industry is met with a growing demand for rapid business innovation and ultimate customer experience, which further speeds up its pace of transformation. To cope with the complex and dynamic nature of digital transformation, it is necessary for the financial industry to rebuild its core competitiveness amidst the digital era in order to realize the vision of intelligent finance.
“Better connections, stronger intelligence, and more scenarios are the key to building competitiveness of digital finance,” Ryan Ding, President of the Huawei Enterprise BG, pointed out, “Following the concept of co-creation, sharing, and win-win, we are working with our customers and partners in finding a way towards Shaping Smarter, Greener Finance, Creating New Value Together.”
Huawei announced three strategic initiatives, advancing the digitalization of the financial industry in the new era.
Jason Cao, CEO of Huawei Global Digital Finance said in his speech, “Technology, especially the connection and intelligence, continues to drive the development of the financial industry. In 2022, we have officially entered into the ZFLOPS era for AI computing power. With the development of AI, we will embrace super-personalization. By 2025, more than 100 billion physical connections will lead to financial services for ‘things’. In the future, smart contract will enable intelligent decision-making possible everywhere. New service and product models will emerge one after another. However, end-to-end user experience, real-time processing of massive data, and O&M and management of more complex networks and multi clouds will all become challenges for the financial industry. We are facing opportunities as well as challenges. ”
To build smarter and greener finance based on better connections, stronger intelligence, and more scenarios, Huawei announced three strategic initiatives for the financial sector during the summit.
1.Smarter: smarter customer engagement solutions to improve digital experience; data and intelligent converged platform to build real-time data capabilities; hybrid multi-cloud architecture to make cross-cloud management easier and services more agile.
2.Greener: autonomous digital infrastructure to help financial institutions achieve high efficiency, availability, and performance and facilitate collaboration of multi-technology, heterogeneous technology, and hybrid multi-cloud.
3.Together: Build a global ecosystem cooperation platform and put forward three upgraded initiatives for the Financial Partner Go Global Program 2.0 (FPGGP): develop more solution partners; expand FPGGP to global consulting and service partners; develop local sales and service partners for providing FPGGP solutions locally.
Working with global clients and partners, shaping smarter and greener finance
During the summit, Huawei and DBS announced the establishment of the Innovation Showcase at DBS Newton Green.
Huawei also signed a Memorandum of Understanding (MOU) with OCBC Bank to bolster the bank’s digital transformation in Southeast Asia and the Greater Bay Area in three key initiatives: Green Branch and Buildings with Smart IoT; Data Science and Artificial Intelligence (AI) Innovation and Cloud Adoption Acceleration.
Meanwhile, Huawei released the Digital Banking 2.0 Solution leveraging Temenos open platform. The solution supports the quick launch of digital banks and helps larger banks accelerate their modernization in the cloud. This greatly improves the rollout efficiency and customer satisfaction.
In the coming days, Huawei will sign a number of cooperation agreements with several financial institutions, and unveil a wide variety of products and solutions jointly created with partners, covering various business scenarios.