Huawei Cloud unveiled its Cloud Native Core Banking solution at the Huawei Intelligent Finance Summit 2022 today, laying the groundwork for traditional banks and new digital banks to innovate more quickly.
Huawei Cloud presented three trends in the financial industry at the Summit. Starting with peripheral systems, then core systems, all-cloud means that financial organisations migrate to the cloud. There will be a new age of intelligent governance based on the use of data as assets to maximise value from big data and AI convergence. An intelligent connection between the physical and virtual worlds will create an experience-centric, inclusive form of financial services.

'All scenarios intelligent connection'

In his keynote address, Huawei Cloud Marketing President William Dong stated: "Currently, financial institutions around the world are undergoing a major digital transformation. For financial institutions, this is an era of opportunity to take the reins and lead. Eventually, finance will become intelligent, all-encompassing, and inclusive, with a variety of options readily available to everyone. When it comes to smart finance, Huawei Cloud is committed to staying on top of these three trends and developing Everything as a Service with our partners."

               William Dong delivering the speech Huawei Cloud: Everything as a Service for Smart Finance

Fully Embrace the Cloud and Move Core Systems to Distributed Cloud Native
An offloading platform for mainframes, new core systems for traditional banks, and power for digital institutions, Huawei Cloud was unveiled at the summit as its Cloud Native Core Banking solution. As part of Huawei Cloud's distributed cloud-native service, the Ubiquitous Cloud Native Service (UCS) is used in conjunction with a cloud-native database and a cloud-native software development pipeline. The solution has high availability, high concurrency, and rapid application iteration. There is an example of its high availability, RPO = 0, for RTO 2 minutes, in disaster recovery (DR).
In order to support massive transactions, elastic scaling, financial-grade reliability, and high availability, the Postal Savings Bank of China has built a new generation distributed core system on the Huawei Cloud. For its 637 million customers and 40,000 branches, the system processes 2 billion transactions every day. per. day. The Huawei Cloud has been used by the Green Link Digital Bank to build over 20 core and peripheral systems, allowing for a three-day service rollout. The bank was able to complete compliance certification and service rollout in just 11 months thanks to Huawei Cloud and other partners like Temenos.
 
Big Data and AI Convergence
An extremely digital industry, finance has a strong focus on merging data and artificial intelligence (AI). By providing a platform for big data and AI convergence, Huawei Cloud is able to unlock the full value of data by solving governance issues caused by data silos. With Huawei Cloud, a copy of data can be transferred between multiple engines quickly and consistently thanks to features like unified storage and metadata. ICBC began data analysis and exploration on this convergence platform and significantly improved its efficiency, with average data query wait times decreasing from 300 minutes to 1.5 hours.
Huawei Cloud also works with partners to launch smart process robots, integrating AI, RPA, and low-code capabilities. The use of intelligent automation has a significant impact on the speed at which frequently requested financial services are processed.
While Huawei Cloud has also released a graph model that can identify financial exceptions 90% of the time and greatly enhances enterprise risk detection, the Pangu graph model is the latest addition to the company's offerings.
 
Merging the Physical and Virtual Worlds for All-Scenario Intelligent Connection
Fintech Development Plan for 2022-2025 was released by the People's Bank of China (PBOC) earlier this year, which aims to integrate digital technology into the financial sector and create a digital mindset for the entire business link in China. Multiple banks have introduced virtual human employees to improve customer service and boost their public image in light of this.
The MetaStudio digital content pipeline was launched this year by Huawei Cloud, lowering the barriers to the use of virtual human services by businesses. MetaStudio includes services such as virtual human generation, which generates 3D avatars for users in just 5 seconds using an uploaded photo; virtual live streamers, which allow users to drive 3D virtual humans in real-time using a single camera without professional face or motion capture devices, at a latency less than 100 ms; and virtual human video generation, which allows users to produce an AI-driven presentation video, which is suitable for customer service, course pre-production, and other applications.
 
Working with Customers and Partners to Build Smart Finance for Every Scenario