"Boosting Resilience and Smarter Finance Together" - Powered by Huawei

Jason Cao, CEO of Huawei Digital Finance, discusses Huawei’s role and innovations in the finance sector.

Key highlights

Observations and Challenges:

• Jason discusses the current landscape, highlighting innovation and legacy system challenges faced by bankers.
• He emphasises the impact of legacy systems on innovation and customer experience.

Payment Evolution:

• The discussion covers the shift from card payments to mobile and next-generation payment methods.
• Jason uses China as a case study, illustrating the country’s transition to a cashless society with more than 86% mobile payment penetration.

Digital Transformation:

• He shares examples from China, where digital engagement and AI integration have significantly transformed banking services.
• Case studies include ICBC’s cloud transformation and China Merchants Bank’s move from a legacy system to becoming a "software-defined" bank.

Future Trends:

• AI is identified as the key driver for the next decade in banking.
• Jason mentions that moving from digital to AI is the trend among banks, improving efficiency and providing value-added services.

Huawei’s Role and Solutions:

• Huawei proposes a four-layer architecture framework for financial resilience, focusing on ubiquitous financial services, digital engagement, intelligent business engines, and resilient infrastructure.

Practical Applications:

• Real-world examples of Huawei’s work with banks, including Postal Savings Bank of China’s shift to cloud-native architecture and Union Bank of the Philippines' fast-track digital core banking implementation.
• Highlighting the benefits of these transitions in terms of scalability, efficiency, and customer experience.

Conclusion:

Jason concludes by reiterating Huawei’s commitment to the finance industry and their focus on technology and customer-centric solutions. He welcomes collaboration with the finance sector to rebuild resilience and promote smarter finance.

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