Data-Driven Intelligent Banking Boosts Inclusive Finance in Southeast Asia

[Shanghai, China, September 18, 2019] Huawei has partnered with Chinasoft International (CSI) to release an Intelligent Financial Data Solution based on a converged data lake at HUAWEI CONNECT 2019. The solution is designed to help financial institutions in Southeast Asia and other markets make boundless intelligent financial services accessible to the general public, while improving business efficiency and driving innovation.

In the future, boundless financial services will move beyond the physical boundaries of banks and reach people everywhere. For example, mobile payments in China have multiplied 36 times from 1.674 billion in 2013 to 60.531 billion in 2018, with convenient financial services now becoming mainstream. Intelligent services will replace experience-driven finance to become data-driven intelligent finance, providing customer-friendly services while also helping banks with operational efficiency, risk control, and decision-making. China's banking industry has achieved 1-minute loan approvals by integrating Big Data analysis with traditional credit investigation.

Cao Chong, President of Financial Services Industry at Huawei Enterprise, commented, "The transformation and development of the financial industry are driven by leading technologies, such as Big Data, AI and blockchain. Creating boundless intelligent finance, and adopting a data-driven, AI-enabled, open and distributed architecture will be crucial to the success of financial institutions moving forward."

Mr. Cao Chong, President, Huawei EBG Financial Services Business

As banks try to realize the value of data, they typically face a range of challenges including multiple types of data coming from multiple channels, difficulties around converged data analysis, and poor use of data. Huawei