Kathy Gibson reports – A digital world, with everything connected, will usher in new financial service scenarios and business needs.

Jason Cao, president: global financial services business unit at Huawei Enterprise Business Group, points out that we have already moved beyond the era of industrial internet and are close to a world where everything is connected intelligently.

“The bank will not just serve people, but things as well – the bank of things will create new scenarios that we don’t see today.”

Today, we are already seeing distributed communication, with multi-party participation emerging.

“The financial industry is transforming and upgrading at a faster pace than ever,” Cao point out.

Already, banks are live streaming; soon smart business practices that we see in other industries will start moving in the financial space.

Indeed, agility will be a critical capability, he says.

Banks can position themselves for this future include by upgrading their agility, their industrial financing, and the ecosystems to provide unbounded services.

To help the industry, Huawei will continue to innovate on the technology front; it will immerse itself into industry scenarios and engage in sector interconnection; and will aggregate software as a service to build an open ecosystem.

At the Intelligent Finance Summit today, Huawei announced 15 new solutions for the financial industry. We are working with our partners to build a number of solutions to satisfy end user requirements,” Cao says.

“Our strategy is to build a strong ecosystem, to provide a fully connected intelligent ecosystem-based finance solutions.”

Huawei, having grown from the telecommunications to the enterprise IT market, started its financial services business group just 10 years ago.

Since that time, it has grown into 60 countries, with 2 000 global financial customers – including 47 of the world’s top banks.

This includes services in the cloud, the provision of data centre infrastructure and the use of Huawei’s distributed database.