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April 26, 2019, 4:36 p.m. EDT

China : Huawei Enables Smart Finance with "AI+DATA"

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Apr 26, 2019 (Euclid Infotech Ltd via COMTEX) -- The Huawei Global FSI Summit 2019 held in Shanghai today, under the theme Holistic Digital Transformation, Taking the Pulse of Smart Finance". The summit has attracted more than 2,000 financial customers, partners and industry experts from global organizations, such as Deloitte, Industrial and Commercial Bank of China, China Life Insurance, Sberbank, Erste Bank, Shenzhen Stock Exchange, Bradesco, Guotai Junan Securities, and Zhejiang Rural Credit. Centering on the new challenges facing the financial services industry in the digital economy era, Huawei and all the attendees shared their digital transformation initiatives and successful practices with the aim to help more financial institutions navigate the road of digital transformation to smart finance.

Financial Services Here: "AI+DATA" for Smart Finance

Ma Yue, Vice President of Huawei Enterprise BG and President of EBG Global Sales, said in his opening speech: The financial services industry has entered the 4.0 era. Financial services are becoming everywhere, driving the financial institutions to build platforms and ecosystems to allow the creation of new business and service models. AI and data have become core driving forces that enable financial business innovation. Huaweis AI+ Data Solution helps customer reshape their closed ICT systems into open cloud platforms. This allows data to evolve to big data and fast data. We are helping customers build AI platforms and achieve Smart Finance."

Ma Yue, Vice President of Huawei Enterprise BG and President of EBG Global Sales

Tim Pagett, Asia FSI Leader of Deloitte, commented in a keynote speech:" Change steps have shifted from linear to rapid pickup. Structured and unstructured data is expanding rapidly. It is crucial to obtain, visualize, and integrate big data to make major business decisions. At the same time, demographic changes and digital enterprises have reshaped the market environment. The trend is to provide customers with smooth digital experience. Therefore, technology, talent, and business culture will all become flexible and agile."

Smart Banking: FinTech Delivers an Ultimate Experience

Smart banking is becoming the commanding heights of global banking in the digital economy era. Zhang Yan, Deputy General Manager of Technology Dept, ICBC, said that ICBC focuses on promoting in-depth integration of banks and ecosystems, reshapes the new business architecture of "all-customers, omni-channels, and all-products" with a new ecosystem, and then promotes the transformation of the "host + open platform" dual-core IT architecture. This is to accelerate the smart, inclusive, and open transformation of financial services, and to build an open smart banking ecosystem that integrates finance with technology.

Innovation is deeply embedded in Erste's DNA and is one of the core business drivers within Erste Bank. Erste has proven already in the area of trade financing and in retail banking that it is capable to build technology-enabled FinTech like solutions from scratch." said Clemens Mller, Executive Assistant of the BOD, Erste Bank.

Smart finance is quietly changing people's lives. Yang Gang, Deputy General Manager of Science and Technology Management Dept, Zhejiang Rural Credit, stated that Zhejiang Rural Credit integrates new digital resources into every link and life scenario of the rural financial service value chain to support the "last mile" of financial services.

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