- Huawei Cloud has launched its all-scenario smart finance solution to Africa.
- The solution was unpacked at the company’s recent Intelligent Finance Summit for Africa 2023.
- Huawei hopes the solution will drive digitisation and leapfrog development of Africa’s financial and banking sectors.
Huawei recently held its Intelligent Finance Summit for Africa 2023 in Cape Town, South Africa, where the company detailed some of its upcoming plans for the local and African financial sector, as well as unpacked some new solutions to aid organisations via Huawei Cloud.
Regarding the latter, the company spoke about its all-scenario smart finance solution, which it views as being capable of driving digitisation and leapfrogging the development of the African finance and banking sectors.
During his keynote, Harrison Li (pictured below), CTO of Huawei Cloud Southern Africa Region, explained how the new solution will help African banks act as pioneers in the financial sector. Here he pointed out that with the deepening of digital transformation in the financial and banking sectors worldwide, the “all-round cloudification” of financial services has become a trend.
Li goes on to note that this embracing of cloud technologies could help African banks address one of their biggest pain-points – system stability.
“During daily operations, accidents such as core system breakdowns and system unavailability can cause difficulties when it comes to things like fund transfers and payments. That isn’t just inconvenient for customers, it can negatively affect the enterprises’ reputation. Cloud systems, with their various failsafes can dramatically reduce the occurrence of those breakdowns, bringing stability to the system,” explained Huawei in a press release sent to Hypertext.
“Many [banks] are moving from peripheral systems to core systems, while the technical architecture of cloud services is transiting from standardized mainframes to distributed, cloud native architecture,” added Li.
Looking closer at Huawei Cloud, the CTO also pointed out that it has assisted more than 300 financial service providers around the world, including banks, insurance companies, security firms and fintech startups.
“It has helped each of those clients build rich experiences that foster digital transformation in the financial domain. Off the back of this experience. Huawei Cloud is able to commit to supporting financial customers quickly implement cloud migration and adapt to new scenarios, providing a one-stop solution for Africa’s financial and banking innovation,” Li continued.
With Huawei Cloud now featuring 78 availability zones in more than 170 countries and regions, the company believes its all-scenario smart finance solution will prove a boon for the African financial and banking sectors.
