Category: MENA

SINGAPORE, July 21, 2022 /PRNewswire/ — July 20, the three-day Huawei Intelligent Finance Summit 2022 officially begins at Sands Expo and Convention Centre. Under the theme of “Shaping Smarter, Greener Finance”, the summit is bringing together financial industry leading figures, KOLs, academic experts, and innovative practitioners from more than 30 countries around the world to discuss the future development of the financial industry, exploring how to build smarter and greener finance together.

Huawei proposed three core elements for gaining competitiveness in the financial industry, upon the arrival of the super digitalization era

With the fully connected intelligent world on its way, both the economy and society are transforming towards two major trends of digitalization and sustainable development. In face of changing financial service scenarios and business models in the digital era, the financial industry is met with a growing demand for rapid business innovation and ultimate customer experience, which further speeds up its pace of transformation. To cope with the complex and dynamic nature of digital transformation, it is necessary for the financial industry to rebuild its core competitiveness amidst the digital era in order to realize the vision of intelligent finance.

“Better connections, stronger intelligence, and more scenarios are the key to building competitiveness of digital finance,” Ryan Ding, President of the Huawei Enterprise BG, pointed out, “Following the concept of co-creation, sharing, and win-win, we are working with our customers and partners in finding a way towards Shaping Smarter, Greener Finance, Creating New Value Together.”

Huawei announced three strategic initiatives, advancing the digitalization of the financial industry in the new era.

Jason Cao, CEO of Huawei Global Digital Finance said in his speech, “Technology, especially the connection and intelligence, continues to drive the development of the financial industry. In 2022, we have officially entered into the ZFLOPS era for AI computing power. With the development of AI, we will embrace super-personalization. By 2025, more than 100 billion physical connections will lead to financial services for ‘things’. In the future, smart contract will enable intelligent decision-making possible everywhere. New service and product models will emerge one after another. However, end-to-end user experience, real-time processing of massive data, and O&M and management of more complex networks and multi clouds will all become challenges for the financial industry. We are facing opportunities as well as challenges. ”

To build smarter and greener finance based on better connections, stronger intelligence, and more scenarios, Huawei announced three strategic initiatives for the financial sector during the summit.

1. Smarter: smarter customer engagement solutions to improve digital experience; data and intelligent converged platform to build real-time data capabilities; hybrid multi-cloud architecture to make cross-cloud management easier and services more agile.
2. Greener: autonomous digital infrastructure to help financial institutions achieve high efficiency, availability, and performance and facilitate collaboration of multi-technology, heterogeneous technology, and hybrid multi-cloud.
3. Together: Build a global ecosystem cooperation platform and put forward three upgraded initiatives for the Financial Partner Go Global Program 2.0 (FPGGP): develop more solution partners; expand FPGGP to global consulting and service partners; develop local sales and service partners for providing FPGGP solutions locally.

Working with global clients and partners, shaping smarter and greener finance

During the summit, Huawei and DBS announced the establishment of the Innovation Showcase at DBS Newton Green.

Huawei also signed a Memorandum of Understanding (MOU) with OCBC Bank to bolster the bank’s digital transformation in Southeast Asia and the Greater Bay Area in three key initiatives: Green Branch and Buildings with Smart IoT; Data Science and Artificial Intelligence (AI) Innovation and Cloud Adoption Acceleration.

Meanwhile, Huawei released the Digital Banking 2.0 Solution leveraging Temenos open platform. The solution supports the quick launch of digital banks and helps larger banks accelerate their modernization in the cloud. This greatly improves the rollout efficiency and customer satisfaction.

In the coming days, Huawei will sign a number of cooperation agreements with several financial institutions, and unveil a wide variety of products and solutions jointly created with partners, covering various business scenarios.

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SINGAPORE, July 21, 2022 /PRNewswire/ — During Huawei Intelligent Finance Summit 2022 — Huawei, launched the Digital Banking 2.0 solution leveraging Temenos open platform, and discussed with customers and top partners in the financial industry about how to build a cloud-native architecture to achieve business agility and industry innovation.

Digital banking is a global trend

Facing fierce competition with Internet giants, banks are transforming from providers of traditional financial services to those of new digital financial services based on the industry ecosystem. New technologies — such as cloud-native, open API, and big data — as well as the new economic environment have been driving digital banking to be open, intelligent with seamless integration capability.

Banks have to go digital to meet the various new requirements in new scenarios, and digital banking is an inevitable choice. Indeed, global digital banks have undergone explosive growth in recent years. According to the statistics of Simon-Kucher’s new bank database, 153 digital banks emerged in 2020 and 2021, and this number will continue to rise in the future.

Huawei releases Digital Banking 2.0 Solution leveraging Temenos open platform supporting banks’ architecture transformation and business innovation

During the summit, Huawei released the Digital Banking 2.0 Solution leveraging Temenos open platform. This new Digital Banking solution is an upgraded solution and uses Temenos open platform for composable banking to provide cloud-native, core banking functionality and data capabilities. The solution supports the quick launch of digital banks and helps larger banks accelerate their modernization in the cloud. This greatly improves the rollout efficiency and customer satisfaction.

Digital Banking 2.0 Solution enables fast service integration and rollout based on a cloud-native architecture, providing core banking functions for banks. The solution has the following key capabilities:

1. Pre-integrated: The solution certified with Temenos and other partners in the industry offers a complete and comprehensive function stack of digital banking for customers in different business scenarios, such as retail, corporate and Islamic banking, etc.
2. Agile: The solution provides composable banking services that allow new services to be developed and iterated through simple assembly. At the same time, the cloud-native system is highly scalable and cost-effective, requiring less initial investment.
3. Open: The platform provides open APIs for third-party invoking and integration. It enriches the ecosystem and supports more business scenarios. All of this results in improved system operational efficiency and user satisfaction.

Neo Gong, Senior Solution Director of the Huawei Enterprise BG Digital Finance, introduced, “Digital Banking 2.0 can be delivered in the SaaS or cloud foundation model. This solution helps customers improve their efficiency of business operations and cost management, so that they can focus more on service innovation and ecosystem development. Based on the collaboration with Temenos, a leading open platform for composable banking, this solution provides rich core banking functionality for banks.”

Through building an agile, elastic, secure and reliable cloud foundation, and integration with partners to build scenario-based financial solutions, Huawei is committed to further promote the development and innovation of financial services, shaping smarter, greener finance together.

About Huawei Intelligent Finance Summit 2022

Huawei Intelligent Finance Summit is Huawei’s annual flagship event for the global financial industry. HiFS 2022 runs from July 20 to 22 in Singapore. With the theme of “Shaping Smarter, Greener Finance”, Huawei Intelligent Finance Summit brings together leading figures, KOLs, academic experts, and innovative practitioners in the global financial industry to discuss how to shape green and digital finance in light of the future development trend of the financial industry. For more information, please visit: https://e.huawei.com/en/special_topic/Industry/finance/2022-finance-summit

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— Global initiative brings together researchers and practitioners from across disciplines and around the world to accelerate the achievement of the UNs’ Sustainable Development Goals —

TORONTO, July 20, 2022 /PRNewswire/ — The Reach Alliance announces partnerships with four leading universities, including the University of Cape Town (South Africa), Ashesi University (Ghana), Singapore Management University (Singapore) and the University of Melbourne (Australia). This scale up sees the Alliance grow from four to eight major global universities, with original partners including the University of Toronto (Canada), Tecnológico de Monterrey (Mexico), University College London (UK), and the University of Oxford (UK).

Founded at the University of Toronto’s Munk School of Global Affairs & Public Policy, in partnership with the Mastercard Center for Inclusive Growth, the Reach Alliance is a global research and leadership initiative investigating how critical interventions reach those who are hardest to reach. The Alliance then partners with cross-sectoral organisations to translate actionable research insights for impact.

“The work of the Reach Alliance can only be done by strengthening international partnerships to achieve global reach,” says Marin MacLeod, Executive Director at the Reach Alliance.

Professor Mamokgethi Phakeng, Vice-Chancellor, University of Cape Town, comments “the Reach Alliance is a brilliant concept that aligns closely with the mission of the University: to ensure that our research meets the needs of even the most marginalized communities in Africa, that it has real impact, and that we produce the leaders of tomorrow who are committed to social justice.”

Sentiments shared by Ashesi University’s Provost, Professor Angela Owusu-Ansah, “engaging students in research of the lived experiences of marginalized groups is likely to amplify students’ ethical, entrepreneurial, and critical thinking; their concern for others and the courage to act for change.”

Scaling to universities in Africa, Asia and Australia will expand the scope and depth of Reach research, enhance the student researcher and faculty experience and accelerate production of actionable insights about some of the world’s most complex development issues.

“The Reach Alliance enables a global network of partner universities to collaborate on research and develop interdisciplinary solutions”, says Professor Elvin Lim, Dean, College of Integrative Studies, Singapore Management University. “Through student research and faculty mentorship drawn from the Alliance, we aim to deepen our engagement with the city and to create meaningful impact for communities around the world.”

Professor Adrian Little, Pro Vice Chancellor (International), University of Melbourne highlights the university’s social mission as a key reason for joining the Alliance, “by engaging with the Reach Alliance, we can tackle problems within Australia and in the wider Asia-Pacific region in collaboration with an outstanding group of university partners.”

To date, the Reach Alliance has published 30 case studies spanning 20 countries. Actionable research insights have informed practitioners and policymakers – accelerating achievement of the Sustainable Development Goals and establishing the next generation of global leaders. Reach findings have been published in leading outlets, such as The Lancet, Stanford Social Innovation Review and WHO Bulletin.

“We’re thrilled to welcome these leading universities to the Alliance and to learn from their unique and diverse perspectives. Their faculty and students will make a tremendous contribution to our global network of experts on how to reach the hardest to reach,” says MacLeod.

Reach recruits students across global universities – equipping the next generation of leaders to conduct research, produce actionable insights – and catalyzes impact through institutional partners. Learn more at www.reachalliance.org.

Media contact: Fadumo Faarah, Communications & Events Officer at the Reach Alliance, University of Toronto, Phone: 1-226-606-7895, Email: fadumo.faarah@utoronto.ca