The Huawei Intelligent Finance Summit (HIFS) 2021 was held in Shanghai from June 3 to 4. At the summit, Huawei announced its strategy to fully embrace cloudification. Huawei and eight enterprises, including Merchants Union Consumer Finance, Temenos, Quantex, and Shenghekun, jointly released a series of Cloud Native 2.0 financial solutions to develop a financial ecosystem where Huawei and partners share innovation, capabilities, and success. The companies also shared their joint cloud-native solutions and industry practices at the Cloud Native 2.0 sub-forum.
Cloud Native 2.0 Accelerates Innovations for Core Financial Services
Financial services are demanding innovative IT architecture to develop FinTechs. Cloud Native 2.0 features high efficiency, agility, and intelligence, helping enterprises upgrade their IT architecture and quickly develop innovative core financial services. "Based on Cloud Native 2.0, HUAWEI CLOUD built efficient, intelligent cloud-native infrastructure to accelerate application modernization, enable full-stack data intelligence, enhance E2E service security, and perfectly meet the intelligent upgrade requirements from core financial services. Huawei is helping the financial industry develop services with outstanding user experience in any scenario," said Fang Guowei, a HUAWEI CLOUD expert.
HUAWEI CLOUD's FinTech infrastructure complies with more than 10 national and industrial standards. The infrastructure uses independent modules and physical resources, providing a secure, regulation-compliant platform for financial services.
Building a Cloud-native Financial Ecosystem and a New Financial System Applicable to All Scenarios
At HIFS sub-forums, Merchants Union Consumer Finance, Temenos, Quantex, and Shenghekun introduced their solutions developed in collaboration with HUAWEI CLOUD.
Merchants Union Consumer Finance built a consumer finance platform serving hundreds of millions of users and uses cutting-edge cloud-native and AI technologies for post-loan management. The company worked with HUAWEI CLOUD to launch an enterprise-grade intelligent interaction solution, improving service standards and quality for customers in all scenarios. "Our business is growing fast. We use HUAWEI CLOUD containers and AI to comprehensively upgrade our system, making services more flexible, stable, and intelligent. AI robots can handle up to 9000 concurrent calls. Conversational bots can identify more than 500 customer intents, and the accuracy reaches 99%." said Liang Wanshan, Technical Director of Merchants Union Consumer Finance.
In the digital transformation, the banking industry needs to consider how to guarantee business security. Temenos is a world-renowned digital banking solution provider and has been in the leading position for 25 years. Its digital banking products have been serving more than 3000 banks, 1.2 billion individuals, families, and enterprises around the world. "In the comprehensive digital transformation, we built an efficient, secure digital bank based on full-stack Cloud Native 2.0 products and solutions of HUAWEI CLOUD," said Liu Bin, Chief Technical Solution Consultant of Temenos China.
Financial institutions urgently need a powerful, industrialised, quantitative risk-based pricing system for asset management. Such a system requires strong models, compute power, and huge amounts of data. "The risk-based pricing cloud platform solution jointly released by Quantex and Huawei use CCE Turbo and YUANRONG as the cloud-native compute engine. The solution improved compute power utilisation, algorithm efficiency, shortened the dynamic model iteration period, and improved service collaboration. We can efficiently manage asset risks, combining finance and technologies to generate new productivity," said Chen Mingyong, founder and CEO of Quantex.
Market data systems are key to financial services. Such a system provides more than 20 types of services, requires high reliability and real-time response, and is difficult and costly to build. To make a market data system easily accessible for financial customers, Shenghekun worked with HUAWEI CLOUD to build a cloud-native market data cloud solution. Wang Zhangcheng, CTO of Shenghekun, said in his speech, "We worked with HUAWEI CLOUD to build a cloud market platform that features all-scenario applicability, high performance, outstanding experience, and high customisation based on the cloud-native, distributed cloud architecture. This platform can provide customers with one-stop services, such as news, announcements, documentation, and user-selected stocks in a full range of markets and fields.
Zhu Bing, General Manager of the Financial Industry of HUAWEI CLOUD China, said that HUAWEI CLOUD has made rapid progress in the insurance and banking industries in the past two years, and has accumulated many excellent practices and cases. HUAWEI CLOUD has also made progress in the securities and fund industries. HUAWEI CLOUD is collaborating with Shenzhen Stock Exchange, Huatai Securities, Zhongtai Securities, Haitong Securities, and East Money Information in system containerisation, and has made breakthroughs in AI investment consulting for major funds. In the future, HUAWEI CLOUD will incubate more business scenarios for the financial industry based on Huawei's device cloud. Huawei hopes that more customers and partners will choose HUAWEI CLOUD, and grow with the financial industry, embrace Cloud Native 2.0, and build intelligent financial services for all scenarios.