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 global financial customers, partners and experts from global institutions, 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, all the attendees shared their digital transformation initiatives and successful practices to help more financial institutions navigate the road of digital transformation to smart finance.
Financial Services Everywhere: "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. Huawei's 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."
Tim Pagett, Asia FSI Leader of Deloitte, commented: "Change steps have shifted from linear to rapid pickup. Structured and unstructured data is expanding rapidly. It's 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, 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's capable to build technology-enabled FinTech like solutions from scratch," said Clemens Mueller, Executive Assistant of the BOD, Erste Bank.
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 scenario of the rural financial service value chain to support the "last mile" of financial services.
Smart Insurance: Intelligent Insights and Upgraded Services
Lin Zhipeng, Deputy General Manager of Data Dept, China Life Insurance said: "China Life built a first-class digital platform by leveraging cloud IT architecture and artificial intelligence technology. Based on this, we can build a digital business platform that integrates healthcare, elderly care, and financial services with the insurance core. It offers smart insurance services to support social and economic development and improve people's lives."
Smart Securities: Innovative Smart Architecture Accelerates Transformation
Yu Huali, Chief Engineer, Shenzhen Stock Exchange, said they have accelerated the transformation of the technical architecture by taking networking, digitalization, and intelligence as the core, in the open financial environment. Data and AI optimize risk control, improve service capabilities of trading platforms, and promote the healthy development of the securities trading market.
Yu Feng, IT Director, Guotai Junan Securities, stated that they adopted the digital Guotai Junan strategy to promote data governance, improve customer experience, redesign operational processes, and upgrade business models. They have actively promoted the development of data ecosystems to help the securities industry achieve digital transformation.
Smart Exhibition Hall: Scenario-specific Service Experience
Huawei and partners have a smart exhibition hall of over 800 square meters. The Smart Experience, Smart Decision-making, Smart Architecture, and Fundamental Research areas demonstrate full-stack, intelligent financial solutions by offering scenario-specific service experience.
Smart Experience: Unattended counters, intelligent customer service, and VR banking show Huawei's innovative applications in the IoT and intelligent security domains. It shows how Huawei helps financial institutions contact with customers and deliver an ultimate services experience.
Smart Decision-making: Huawei's smart, high-performance data analysis products and solutions, such as smart risk control, converged data warehouse, and AI Fabric, support efficient operations and decision-making of financial institutions.
Smart Architecture: The innovative architecture of "one cloud + three networks" demonstrates Huawei's ability to help financial customers build open and scalable smart ICT architectures, and quickly launch services. Virtual banking, insurance cloudificaton, and blockchain-based credit investigation solutions show how HUAWEI CLOUD fulfills security, compliance, and trustworthiness requirements.
Fundamental Research: Demonstrates Huawei's R&D strength in the AI, chip, IoT, and 5G fields, and allows visitors to experience 5G applications.
Adhering to the "Platform + AI + Ecosystem" strategy, Huawei Enterprise Business teams up with partners to provide ubiquitous connectivity and pervasive intelligence, and integrate new ICT through the digital platform to help government and enterprise customers achieve digital transformation. More than 700 cities around the world, and 211 of the Fortune Global 500 companies, including 48 of the top 100, have selected Huawei as their partner in digital transformation.
Huawei has continued to work with top financial institutions, research institutes, and independent software developers worldwide to accelerate the transformation of financial institutions. Huawei has served more than 1000 financial institutions, including 20 of the world's top 50 banks.
Huawei Global FSI Summit 2019 is held in Shanghai from April 24 to 25. For more information, please visit: https://e.huawei.com/topic/finance2019/en/index.html
Great way to learn about "AI+DATA" for Smart Finance
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