Huawei Hosts FSI Forum to Accelerate Digital Banking Transformation

Huawei Asia-Pacific FSI Forum 2016 explores innovative ICT approaches to help financial services firms win in the digital era

Huawei hosted its Asia-Pacific Financial Services Industry (FSI) Forum 2016 together with industry association The Asian Banker. Over 160 industry executives from across Asia-Pacific attended the Forum, themed “Reshaping IT to Fuel Digital Banking Transformation“, which focused on advancing digital technology in the FSI sector. Industry and thought leaders discussed how digital technology is impacting customer behavior, product and service innovation, and business operation, and the future opportunities for financial services firms.

During an opening speech at the Forum, Yan Lida, President of Enterprise Business Group, Huawei said: “As technology continues to reshape the way financial services are structured, delivered and consumed, banks need to ensure their offerings meet consumer expectations for ‘anytime and anywhere’ services. To support business innovation in this new era, banks are gradually migrating their business systems from closed architectures to open platforms, with some already adopting cloud-based architecture that provide the flexibility and agility to meet evolving consumer needs. Under the guiding principle of being open, cooperative and innovative, Huawei works closely with FSI customers and partners to fuel this digital transformation through leading new ICT. We have already made significant progress and look forward to achieving more to help our customers thrive in the digital world.

Foo Boon Ping, Managing Editor at The Asian Banker said: “Banks are increasingly moving towards digital transformation. The financial sector is continuing to be more mobile, social, and diversified. Banks will need four key capabilities to thrive under this wave of digital transformation: refined customer management, product and service innovation, omni-channel optimization and transformation, and extensive ecosystem-wide collaboration.”

Yvonne Cheong, Head of Online & Mobile Banking, E-business, Global Consumer Financial Services at OCBC Bank said, “This is the best and worst of times; OCBC has been embracing these changes, and redesigning banking services from end to end, facilitating transformation from products and services innovation to platform remodeling, to establish a comprehensive digital development strategy.”

Tang Bin, Head of IT, Industrial and Commercial Bank of China (Asia) Limited said: “To compete in the digital world, we have restructured our IT infrastructure to enable a more mobile, platform-centric and intelligent infrastructure, making it possible to digitalize our service delivery. For example, e-conferencing technology has enabled the smart deployment of our branches, big data technology has helped us gain valuable insights from our banking data, and private cloud technology provides agility, flexibility and cost-efficiency to meet increasing customer expectations. ICBC Asia will continue to invest in new ICT, and is open to working with Huawei and other industry partners to develop financial IoT.”

As banks’ best partner in digital transformation, Huawei provides one-stop ICT open platforms for developers and conducts joint innovation with industry customers to build a sustainable, win-win ecosystem to drive technological and economic progress.

Huawei conducts joint innovation with leading financial institutions and independent software vendors (ISVs) around the world. Through cloud, big data, and next-generation IT architecture, Huawei and its partners help financial institutions address new challenges in the digital era. Financial cloud and big data solutions have been implemented in more than 10 large- and mid-sized banks, such as ICBC and CMB. Huawei’s Omni-Channel Banking Solution is used by more than 300 financial institutions, including six of the world’s top ten banks.

Author: Dylan Jones

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