29.07.2023 – 23:35
Huawei
Shenzhen, China (ots/PRNewswire)
SHENZHEN, China, July 29, 2023 /PRNewswire/ — At Future of Finance China 2023, the renowned international finance magazine The Asian Banker announced the winners of this year’s Financial Technology Awards. Industrial Digital Financial Services Co.,Ltd. (CIB FinTech for short) and Huawei Technologies Co., Ltd. (Huawei for short) jointly won the award for Best Data Infrastructure Implementation in China in this category.
The financial industry is currently experiencing a huge inflation in the amount of data it produces, and with it, its value is increasing. Financial institutions today need to access and consume data in real-time, which places greater demands on data usage, management and security.
Based on the Huawei Financial Data Intelligence Solution, which includes software and hardware products such as Kunpeng, Kylin, HUAWEI CLOUD and Data Lakehouse, CIB FinTech has developed an enterprise-level, all-scenario integrated analytics platform. As the technical basis for self-service, real-time and intelligent data services, the platform consists of sub-platforms for data, planning, administration and services. It replaces the original data warehouse system and acts as the new heart of the group’s data services, improving data services in four ways.
Strengthening the fundamental data capacities The new analytics platform is based on a large-scale distributed computing architecture and integrates the batch data warehouse, the real-time data warehouse and the IoT data warehouse to achieve high scalability and availability. It increases the number of nodes by 12x and increases the high-availability space by 20x. Better enabling data applications By building a low-code development platform, the group has created a fully visualized data relationship diagram. This greatly shortens the learning curve, simplifies application development, and accelerates research and development. Refines data management and control A concise data map is created to accurately track data sources and assess the value of the data. Through multi-dimensional data management, the group can create future-oriented data management solutions. Expands data capacity sharing The group can grant its tenants access to data storage and computing capacities, creating a flexible offering that gives its business departments an optimal experience in the procurement and use of data allows.
With the new platform, Industrial Bank has created a solid technical basis to better serve the various business areas.
Risk Control: The platform improves the efficiency of data delivery for the most important reports by 51%, allowing tens of billions of transactions to be analyzed in seconds. This helps headquarters to accurately analyze risks and prevent fraud. Marketing: The bank has an optimized, accurate distribution model that covers several million customers. By building a closed digital marketing process, its marketing campaigns have billions of interactions with people every year.Technology: The reuse rate of public interfaces is improved by 10 times, which significantly reduces R&D costs. More than 300 systems currently have access to the data services.
CIB FinTech and Huawei have jointly rebuilt the enterprise-level data platform. The platform relies on a digital infrastructure with self-service control, convergent functions and intelligent O&M. It increases the value of data assets, optimizes the experience of data services, and transforms banks’ operating and profit models, improving both customer experience and operational efficiencies.
Plunging into the data domain, Huawei remains committed to exploring new scenarios while collaborating with customers and partners to help financial institutions improve their data and intelligence capabilities. With its fully converged cloud data AI computing solution for financial data intelligence, Huawei accelerates the unleashing of data value and helps financial institutions innovate their business.
For more information on the Huawei Financial Data Intelligence solution, go to https://e.huawei.com/en/industries/finance/data-intelligence
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