Sunday, June 9, 2024

Four key strategies to empower financial industry in navigating change unveiled

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Nelson Oko
Nelson Oko
Based in Nigeria, Nelson Oko is a features editor at Real Simple where he manages the publication’s personal finance, career, product testing and pets coverage. His work has also been seen in Travel + Leisure, Better Homes and Gardens, Southern Living and more.

SHANGHAI — The highly anticipated Huawei Intelligent Finance Summit 2023 commenced in Shanghai, bringing together over 2,000 industry leaders, experts, and innovators from more than 300 financial institutions worldwide. Under the theme of “Navigate Change, Shaping Smarter Finance Together”, attendees discussed how to accelerate digital transformation through innovative technologies to boost digital productivity.

Jason Cao, CEO of Huawei Global Digital Finance, said, “The world is rapidly approaching a milestone of 100 billion connections, with an explosion of data at the ZB level. We have officially entered the era of ZFLOPS, where the power of AI has surpassed the inflection point and is now driving transformation across various industries and services. To thrive in the intelligent era, we must re-evaluate our approach to connections, data, applications, and infrastructure, and fully embrace digital technologies to build future-oriented core competitiveness.”

Huawei is committed to making strategic investments in foundational technologies to deepen its involvement in the financial industry. In line with this commitment, Huawei has announced four strategic directions for the financial industry: building resilient infrastructure, accelerating application modernization, enhancing data-driven decisions, and enabling scenario innovation.

Focusing on ICT products and portfolios to strengthen the resilience of digital infrastructure

Helping customers accelerate application modernization and enable service agility

Diving into data intelligence to enhance customers’ data usage and data-driven decisions

Collaborating cloud, pipe, edge, and device technologies to enable customers’ scenario innovation

Looking to the future, Huawei will continue exploring business scenarios and developing systematic solutions that align with the strategic directions. Our goal is to help customers build full connectivity featuring agility, experience, and collaboration, and to achieve full intelligence that is real-time, converged, and shared, enabling ubiquitous all-scenario financial services.

Collaborating with global customers and partners to shape smarter finance together

Those delivering keynote speeches included Niu Xinzhuang, CIO of Postal Savings Bank of China; Zhou Yanti, General Manager of the Financial Technology Department of Bank of Communications; Brett King, a world-renowned opinion leader and the author of Bank 4.0; Zhou Tianhong, General Manager of Information Technology Department of China Merchants Bank; Mao Yuxing, Vice General Manager of Haitong Securities; and Kou Guan, General Manager of IT Management Department and Technology Operations Center of China CITIC Bank. In their speeches, they shared the latest and most innovative practices in financial digital transformation and provided valuable insights into the future of digital finance.

During the Summit, Huawei signed cooperation agreements with multiple financial institutions to release new solutions and upgrade the innovative technical capabilities of multiple ICT products and portfolio solutions. Huawei is committed to promoting the comprehensive development of digital talent and works closely with the industry to achieve this goal. In the next three years, Huawei will establish deep collaborations with customers, industry associations, and partners to develop 50,000 digital professionals for the industry, laying a solid foundation for financial transformation.

Huawei has dedicated 13 years to the financial industry. To date, Huawei has served over 3,300 financial customers in more than 60 countries and regions, including 50 of the world’s top 100 banks. Moving forward, Huawei remains committed to advancing cutting-edge technologies and exploring new scenarios, while at the same time collaborating with customers and partners to build fully-connected, fully-intelligent, and all-scenario digital finance. By navigating changes with agility and innovation, Huawei aim to enhance digital productivity and create a brighter future together.

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