Following its annual flagship event HUAWEI CONNECT 2020, Huawei and International Data Corporation (IDC) have released a new white paper titled “Banking Industry Rises up to the New Normal” surveying the impact that Covid-19 has had on the banking industry while outlining steps that should be taken by banks to ensure their future success.
As part of this report, IDC and Huawei have developed a Banking Resilience Index, which quantifies the current status of banking by region in terms of six key measures. This Index shows major regional differences and can be used by banks to assess their own resilience and provides guidance for where to focus for future success.
Some of the major findings in the report concern the financial impact of the pandemic on bank’s balance sheets, the exponential increase in digital payments from mobile devices and the dramatic shift in the role of branches in banking services.
Over the last week, Huawei and its partners have been showcasing a wide range of FSI solutions, including Financial Cloud, smart branches, digital CORE and intelligent data platforms to global enterprises. 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.
As one example, Sunline and Huawei jointly released a Digital Loan One Box Solution — a global contactless solution for financial services that will be rolled out across the Middle East, Southeast Asia, Latin America, and Africa, where financial inclusiveness is urgently necessary. Digital Loan One Box adopts an open strategy, allowing financial institutions to launch a wide range of contactless services, such as online loan product campaign, customer E-KYC, risk assessment, fund disbursement, and post-loan processing.
To date, Huawei has cooperated with more than 5,400 solution and service partners worldwide to support over 1,600 financial customers across 60 countries and regions.