Boost Resilience, Reshaping Smarter Finance Together

SHENZHEN, China, June 7, 2024 /PRNewswire/ -- Huawei HiFS Frontier Forum 2024 commenced in Shenzhen. The forum, with the theme of Boost Resilience, Reshaping Smarter Finance Together, has brought together financial institutions and Huawei partners from around the world. They discussed how they can reshape resilience, agility, and intelligence through continuous technological innovation and ecosystem cooperation in the face of future uncertainties, and ultimately accelerate the digital and intelligent transformation of the financial industry.

1  Building Intelligent Infrastructure to Accelerate Financial Intelligence

Leo Chen, Senior Vice President, President of Enterprise Sales, Huawei, delivered opening remarks at the forum. He said, "To realize a sound digital and intelligent transformation of the finance industry, Huawei believes three pillars are essential: building a robust and resilient IT infrastructure; building hybrid multi-cloud infrastructure for higher system scalability and greater business agility; and developing a converged data platform, leveraging the cloud, streaming data, and real-time analytics to maximize data value."

2  Boost Resilience, Reshaping Smarter Finance Together

Jason Cao, Vice President of Huawei and CEO of Huawei Digital Finance BU, delivered a keynote speech at the forum. He pointed out that in the intelligent world, technologies and industries are evolving rapidly, and financial institutions must reshape resilience, agility, and intelligence to stay competitive in the digital economy. "Focusing on the goals of Zero Downtime, Zero Wait, Zero Touch, and Zero Trust, Huawei upgraded a series of infrastructure resilience solutions to help financial institutions reshape resilience; upgraded four key capabilities, including high-performance CCE and distributed database GaussDB, to help financial institutions accelerate application modernization and reshape agility based on a hybrid cloud architecture; upgraded data systems in terms of the architecture, governance, and business scenarios to improve system, user, and business experiences, unleash more value of data and generative AI, and help customers move towards AI Banks," said Cao.

Kunte Chen, Chief Digital Transformation Officer of Huawei Digital Finance BU, proposed suggestions for banks in the cloud and AI era: "With the rapid advancements in cloud technology and AI, coupled with the emergence of new competitors like digital banks and fintech companies, traditional banks must prioritize adapting to this new landscape. While ensuring the stability and reliability of their existing operations, their primary focus should be on investing in data infrastructure, followed by optimizing investment efficiency. The emphasis of data application should shift towards driving business operations and creating value for customers."

Joy Huang, Vice President of Huawei Cloud Computing and President of Huawei Cloud Computing Strategy & Industry Development Dept, said, "HUAWEI CLOUD continuously innovates and uses 9 innovative technologies to build a world-class financial cloud, providing financial customers with a resilient cloud infrastructure that is as reliable as mainframe. Multi-cloud management and cloud-based DR and backup capabilities help government and enterprise customers build one group cloud. Leverage industry-leading products and technologies such as databases, big data, data warehouses, and AI to implement data and intelligence convergence, supporting customers' quick and efficient decision-making. With professional migration service capabilities, Huawei helps financial users migrate to and use the cloud, accelerating financial application modernization.

3  Collaborating with Global Partners to Create New Value

At this forum, Huawei launched the FPGGP (Financial Partner Go Global Program) Acceleration Program. According to Jason Cao, Huawei is committed to building a global ecosystem for the digital finance industry. This involves global leading partners, those who are engaged in the local industry, and those who are innovators in segmented scenarios.

To date, Huawei has served over 3,600 financial customers in more than 60 countries and regions, including 53 of the world's top 100 banks.

source: HUAWEI