Huawei releases White Paper titled ‘Banking Industry Rises Up to New Normal’

International Data Corporation (IDC), the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications and consumer technology markets, along with Huawei (www.Huawei.com), have released a major White Paper titled “Banking Industry Rises up to the New Normal” at Huawei Connect 2020.

During the conference, Huawei and its partners showed wide range of FSI solutions including, including Financial Cloud, smart branches, digital CORE and intelligent data platforms. According to Press Release issued by the company, these solutions allow banks to reduce costs, increase agility to the rapidly changing FSI environment, attract and retain customers and position themselves against emerging competitors.

“The recent disruptions to everyday life have moved the focus of financial services to Mobile and Huawei has been a leader in supporting the move to mobile interactions globally, based on the early experiences in China. The insights we are sharing are allowing financial customers globally to respond and support customers in these trying times,” mentions the press release.

The release writes that towards the future IDC finds that efforts has to concentrate on Channel Upgrades, that is moving to a completely digital customer journey, changing how services are delivered to customers, building on hybrid cloud and microservices and building robust data lake and AI capabilities, moving beyond paper and PCs to mobile workflows, and Platform Transformation  that is incorporating emerging technologies such as 5G, AI and IoT, etc.

“Taken together, the Banking Resilience Index and the focus areas, provide guidance for banks as they deal with the continuing challenges of “The New Normal” ,” the statement added  “Huawei will continue to expand its engagement with the world’s leading financial organizations and the insights provided by this report will provide a solid foundation for that work.”