Skip to content
Tiatra, LLCTiatra, LLC
Tiatra, LLC
Information Technology Solutions for Washington, DC Government Agencies
  • Home
  • About Us
  • Services
    • IT Engineering and Support
    • Software Development
    • Information Assurance and Testing
    • Project and Program Management
  • Clients & Partners
  • Careers
  • News
  • Contact
 
  • Home
  • About Us
  • Services
    • IT Engineering and Support
    • Software Development
    • Information Assurance and Testing
    • Project and Program Management
  • Clients & Partners
  • Careers
  • News
  • Contact

Huawei: Transition to cloud native and democratisation of AI among changes needed for smarter, greener finance

The financial services industry (FSI) today is poised for disruption. According to IDC, changes in consumer behaviour arising from the global pandemic, consumer perceptions, technological innovation and an inclination towards ‘everything digital’ are expected to drive rapidly accelerating transformation in the sector. There is also a fast-growing push towards green solutions and sustainable finance, from legislative and regulatory requirements as well as investor and consumer sentiments.

In response to these changes, significant new trends are gaining ground within the industry. Organisations are increasing their use of cloud, digital technologies, and artificial intelligence (AI) to develop innovative new solutions for customer experience and personalisation, analytics, and payments, among others. Adoption of these technologies is, in turn, evolving financial services’ customer experience (CX), enabling it to move from physical interactions to digital yet personalised experiences, while customer relationships shift from transactional to engagement-focused relationships that benefit from end-to-end, consistent cross-channel customer services.   

As the FSI sector approaches a tipping point in digital transformation, organisations will need to undertake key changes to stay relevant and competitive in this fast-moving landscape.

Six changes to make finance smarter and greener

Speaking at MWC 2023, Jason Cao, CEO, Global Digital Finance, Huawei, described six changes that have the greatest potential to “accelerate changes and drive innovation” within the FSI sector.

Accelerating the Shift from Transactions to Digital Engagements

Business models must shift from a mindset of serving on-demand transactional needs through ‘financial’-centric applications, toward digital engagement via ‘lifestyle’-centric, daily apps.

Take one of the largest commercial banks in Thailand as an example. It deployed a lifestyle super-app alongside its existing financial super-app in a ‘platform + ecosystem’ model, which resulted in growing the 16 million transaction-focused users to 200 million customers across the region. Many are new-to-bank, enjoying a high degree of engagement as they use the super-apps on a daily basis. We see a similar success in Myanmar, where one of the country’s largest banks launched its mobile payment super app in 2018. By 2021, there were nine million app users, with 310,000 merchants and 45,000 agents benefitting from the app’s mobile payment system.

Accelerating the Transition of Core Banking Functions to Cloud Native

The successes among the Southeast Asian banks conversely highlight a challenge for digital infrastructure: rapid growth of customer base and transaction volumes demand rapid scalability. Applications need to be modernised, and core systems and data migrated to cloud native to be ready for these requirements.

In 2022, Postal Savings Bank of China (PSBC), a bank with 650 million retail customers, transitioned from a monolithic core banking system to a cloud-native architecture using Huawei’s cloud and GaussDB. The new system easily handles over two billion daily transactions, with up to 55,000 transactions per second at peak. An Indonesian bank also built its cloud-native digital banking system to achieve scalability for ten times its existing customer base. As Cao noted, the bank’s customers “grew by 1,000 times in three years” on their cloud-native infrastructure.

Accelerating infrastructure evolution to “MEGA”

As infrastructure evolves, the respective advantages of cloud, storage, computing, network and optical systems can be integrated and optimised as a system. Huawei approaches this through the MEGA framework, combining multi-domain (cloud-network) collaboration, user experience, Green ICT infrastructure and an intelligent autonomous driving network. This infrastructure framework offers rapid cross-vendor configuration, low-latency and end-to-end automation capabilities, while reducing energy consumption by up to 80% per TB.

Huawei

Technology is transforming finance in many ways, presenting more opportunities for both financial institutions and consumers

Huawei

Accelerating democratisation of data analytics and AI

Organisations in FSI are increasingly applying data analytics and AI in marketing, fraud detection, credit scoring, and operations. Data and AI have enabled institutions such as China Merchants Bank (CMB) to protect 3.2 billion transactions since 2016, while another major commercial bank in Shanghai is able to detect abnormalities in financial events with 99.99% accuracy. AI is also driving higher conversion rates through improved interactions and reducing mean time-to-resolution for customer queries.

Accelerating real-time data analysis to unleash data value

China Merchant Bank (CMB), a leading retail bank with assets under management of over 10 trillion yuan, practices a ‘data for everyone’ strategy. The transition from T+1 to T+0 real-time data import, multi-tenant data warehouses, and elastic scalability are the basis of the strategy. Over 40% of the company’s employees are active users on the bank’s analysis platform. As a result of this quick and convenient access to data and analytics, real-time decision making, and real-time risk control within 20ms can be realised.

Accelerating toward a cutting-edge AI brain

“ChatGPT has shown the feasibility of generative AI applications,” highlighted Cao, “and everyone can use it,” further raising the bar for in-depth, accessible AI applications. One of China’s largest banks has, since 2017, been steadily building up their AI capability. Today the bank’s AI brain can serve over 1,000 scenarios and provide over 10 million intelligent services.

Powering digitalisation through innovation

A deeply embedded culture of Research and Development (R&D) is the key to innovation. According to Cao, “innovation is in Huawei’s DNA,” with over half of the company’s employees being R&D employees, and more than 10% of revenue is spent on R&D. In 2021 alone, US$22.4 billion was deployed for R&D, representing 22% of annual revenue. David Wang, President of the Enterprise BG, Huawei, stated the company will “continue to lead innovation in digital infrastructure, and adapt technologies to different scenarios.”

Huawei

Huawei Intelligent Finance Solution Framework provides green and autonomous infrastructure, intelligent business engine, and super App platform for digital interaction and scenario innovation.

Huawei

This consistent investment in innovation has made Huawei a key technology partner for global FSI institutions. The company counts more than 2,500 financial institutions from more than 60 countries as customers, including 50 of the world’s top 100 banks. Huawei also works with over 150 global partners to develop solutions and provide comprehensive services to their customers.

By working closely with partners and customers across the world, the company aspires to Shape Smarter, Greener Finance Together. Huawei will be hosting its 11th Huawei Intelligent Finance Summit in early June to unveil and showcase more innovations.

Learn more about Huawei’s approach to Intelligent Finance here.

Cloud Native
Read More from This Article: Huawei: Transition to cloud native and democratisation of AI among changes needed for smarter, greener finance
Source: News

Category: NewsMarch 14, 2023
Tags: art

Post navigation

PreviousPrevious post:Mitigating cloud sprawl: Controlling XaaS resources, costs, and securityNextNext post:How an immigrant back story builds up tech leaders

Related posts

휴먼컨설팅그룹, HR 솔루션 ‘휴넬’ 업그레이드 발표
May 9, 2025
Epicor expands AI offerings, launches new green initiative
May 9, 2025
MS도 합류··· 구글의 A2A 프로토콜, AI 에이전트 분야의 공용어 될까?
May 9, 2025
오픈AI, 아시아 4국에 데이터 레지던시 도입··· 한국 기업 데이터는 한국 서버에 저장
May 9, 2025
SAS supercharges Viya platform with AI agents, copilots, and synthetic data tools
May 8, 2025
IBM aims to set industry standard for enterprise AI with ITBench SaaS launch
May 8, 2025
Recent Posts
  • 휴먼컨설팅그룹, HR 솔루션 ‘휴넬’ 업그레이드 발표
  • Epicor expands AI offerings, launches new green initiative
  • MS도 합류··· 구글의 A2A 프로토콜, AI 에이전트 분야의 공용어 될까?
  • 오픈AI, 아시아 4국에 데이터 레지던시 도입··· 한국 기업 데이터는 한국 서버에 저장
  • SAS supercharges Viya platform with AI agents, copilots, and synthetic data tools
Recent Comments
    Archives
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • August 2023
    • July 2023
    • June 2023
    • May 2023
    • April 2023
    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • January 2020
    • December 2019
    • November 2019
    • October 2019
    • September 2019
    • August 2019
    • July 2019
    • June 2019
    • May 2019
    • April 2019
    • March 2019
    • February 2019
    • January 2019
    • December 2018
    • November 2018
    • October 2018
    • September 2018
    • August 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • March 2018
    • February 2018
    • January 2018
    • December 2017
    • November 2017
    • October 2017
    • September 2017
    • August 2017
    • July 2017
    • June 2017
    • May 2017
    • April 2017
    • March 2017
    • February 2017
    • January 2017
    Categories
    • News
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Tiatra LLC.

    Tiatra, LLC, based in the Washington, DC metropolitan area, proudly serves federal government agencies, organizations that work with the government and other commercial businesses and organizations. Tiatra specializes in a broad range of information technology (IT) development and management services incorporating solid engineering, attention to client needs, and meeting or exceeding any security parameters required. Our small yet innovative company is structured with a full complement of the necessary technical experts, working with hands-on management, to provide a high level of service and competitive pricing for your systems and engineering requirements.

    Find us on:

    FacebookTwitterLinkedin

    Submitclear

    Tiatra, LLC
    Copyright 2016. All rights reserved.