The Financial Services Industry has undergone enormous changes with more and more banks focused on developing mobile platforms that aim at providing services online conveniently. This greatly expands the interaction between financial institutions and customers and also creates a more unique business and service model.
Although almost all the banks are talking about digital transformation, it’s clear that different banks operate in different ways. Some focus on the retail business, some on mobile-first, while others center on open banking but basically, the banks want to provide agile and secured banking services to customers as they get to know and serve them better.
Huawei has provided 5 business solutions based on its business model to promote services rendered by financial institutions.
The first is the Mobile banking service which enables banks to build mobile channels and offer secured mobile financial services for customers. The second solution is known as the new core banking which provides instant services like savings and loans for customers in an efficient and cost-effective manner. The third is the smart branch solution which leverages cutting-edge technologies like 5G, Wifi6, and AI to improve customer experience. The fourth solution is the new data lake platform. And the last solution is the new infrastructure architecture which promotes innovative development of businesses using the Huawei Cloud Platform.
Huawei's New Core Banking solution is dedicated to helping banks in the implementation of digital transformation. And based on this practice, the banking industry are equipped to build a bi-modal architecture that migrates the traditional banking software architecture to an innovation one step by step.
Huawei's cloud strategy is a hybrid technology which supports the provision of both on premise and public cloud services making it much easier to connect Huawei’s cloud to the third parties’ cloud to meet the multi cloud strategy of customers.
Cloud, is indeed a very broad topic with many components and products.
Huawei alone has over 4,300 Private cloud customers and more than 1,000 Big Data customers. As the Leading ICT Solutions and Equipment provider Huawei’s equipment are ranked amongst the top 3 products by third parties globally. For example, the Huawei server is ranked No.3 and their storage is ranked No.1 globally.
Huawei’s IT Infrastructure products helps in the sustainable and robust growth of economies.
From 2014 to 2019 the (CAGR) Compound Annual Growth Rate of their IT products has been 48.5%.
Huawei also provides Industry Leading Enterprise Network Products. As ranked 3rd in the report, Huawei’s network Platform for SDN ranked in the position of leadership. The Huawei Data Center switches ranked No. 2; Wi-Fi 6 No. 1; Routers No. 2; Campus Switches No. 2 and Optical Transmission No. 1 which has changed the dynamics making more and more customers opt for Huawei.
In the Financial Services Industry, more than 1600 companies and 45 of the top 100 banks have chosen Huawei as their digital transformation partner.
As a long-term goal, Huawei is committed to helping customers achieve efficient, agile and cost-effective services by reconstructing the ICT architecture and promoting innovation in the mobile financial sector.