SHENZHEN, China, July 29, 2023 /PRNewswire/ — At the Future of Finance China 2023, the prestigious international finance magazine The Asian Banker unveiled the winners of its Financial Technology Awards this year. Industrial Digital Financial Services Co., Ltd. (CIB FinTech for short) and Huawei Technologies Co., Ltd. (Huawei for short) jointly won Best Data Infrastructure Implementation in China in this category.
The financial industry is currently witnessing tremendous inflation regarding the sheer amount of data it produces, and its value is rising with it. Financial institutions now need to obtain and use data in real time, posing higher requirements on data application, governance, and security.
Based on Huawei Financial Data Intelligence Solution that includes software and hardware products like Kunpeng, Kylin, Huawei Cloud, and data lakehouse, CIB FinTech has built an enterprise-level and all-scenario integrated analysis platform. As a self-service, real-time, and intelligent data service technical foundation, the platform consists of data, scheduling, management, and service sub-platforms. It replaces the original data warehouse system and functions as the new core of the group’s data services, improving data services from four aspects.
- Strengthens basic data capabilities
Based on the large-scale distributed computing architecture, the new analysis platform integrates the batch data warehouse, real-time data warehouse, and IoT data warehouse to achieve high scalability and availability. It increases the number of nodes by 12 times and enlarges the high availability space by 20 times. - Better enables data applications
By building a low-code development platform, the group has created a full-process visualized data relationship graph. This significantly shortens the learning curve and simplifies application construction, speeding up R&D. - Refines data governance and control
A precise data map is drawn to accurately trace data sources and evaluate data value. Through multidimensional data management, the group can create forward-thinking data management solutions. - Widens data capability sharing
The group can give tenants access to data storage and computing capabilities, achieving an elastic supply, which allows its business departments to have an optimal experience in the obtaining and usage of data.
The new platform has laid a solid technical basis for the Industrial Bank to better deal with various businesses.
- Risk control: The platform improves the key report data supply efficiency by 51%, so tens of billions of transactions can be analyzed in seconds. This helps the head office precisely analyze risks and prevent fraud.
- Marketing: The bank boasts an optimized precise retailing model to cover tens of millions of customers. By building a closed-loop digital marketing process, its marketing campaigns have billions of person-times of interactions each year.
- Technology: The reuse rate of public interfaces is improved by 10 times, significantly slashing R&D costs. Currently, more than 300 systems have accessed data services.
CIB FinTech and Huawei jointly reconstructed the enterprise-level data platform. Relying on a digital infrastructure that features self-service control, convergent capabilities, and intelligent O&M, the platform increases data asset value, optimizes data service experience, and transforms operational and profit models of banks, thereby enhancing both the customer experience and operational efficiency.
Huawei dives into the data domain and remains committed to exploring new scenarios, while at the same time collaborating with customers and partners to help financial institutions upgrade data and intelligence capabilities. Leveraging its fully-converged cloud-data-AI-computing Financial Data Intelligence Solution, Huawei accelerates the unleashing of data value and helps financial institutions innovate businesses.
For more information about Huawei Financial Data Intelligence Solution, please refer to https://e.huawei.com/en/industries/finance/data-intelligence
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SOURCE Huawei
