SINGAPORE – Media OutReach – July 21, 2022 – At the Huawei Intelligent Finance Summit 2022, Huawei launched its Digital Banking 2.0 solution, powered by the Temenos open platform. This new initiative fosters discussions among clients and leading partners in the financial sector on developing a cloud-native architecture to enhance business agility and drive industry innovation.

Digital Banking: A Global Imperative
As banks confront intense competition from internet giants, they are transitioning from traditional financial service providers to leaders in digital financial services within an expansive industry ecosystem. Emerging technologies—including cloud-native solutions, open APIs, and big data—are paving the way for digital banking to become more open and intelligent, with seamless integration capabilities.

To adapt to evolving demands across various scenarios, banks must embrace digital transformation as an essential strategy. The growth of digital banks has been remarkable, with data from Simon-Kucher indicating that 153 digital banks were launched in 2020 and 2021 alone, a trend expected to continue.

Introducing Huawei’s Digital Banking 2.0 Solution
During the summit, Huawei presented its Digital Banking 2.0 Solution, which leverages the Temenos open platform to support banks in transforming their architectures and innovating their business models. This advanced solution offers cloud-native core banking functionalities and data capabilities, facilitating the rapid launch of digital banks and expediting modernization efforts for larger institutions. The result is a significant enhancement in operational efficiency and customer satisfaction.

Key features of the Digital Banking 2.0 Solution include:

Pre-Integrated: Certified by Temenos and industry partners, this solution provides a complete function stack for various banking scenarios, including retail, corporate, and Islamic banking.

Agile: The platform enables composable banking services, allowing for the rapid development and iteration of new services through straightforward assembly. The cloud-native architecture ensures scalability and cost-effectiveness, requiring a lower initial investment.

Open: By offering open APIs for third-party integration, the platform enriches the ecosystem and supports a broader range of business scenarios, enhancing system operational efficiency and user satisfaction.

Neo Gong, Senior Solution Director of Huawei Enterprise BG Digital Finance, stated, “Digital Banking 2.0 can be delivered as a SaaS or cloud foundation model. This solution empowers clients to enhance operational efficiency and manage costs, allowing them to concentrate more on service innovation and ecosystem development. Our partnership with Temenos, a leader in composable banking, ensures rich core banking functionalities for financial institutions.”

By building a secure, reliable, and agile cloud foundation and integrating with partners to create scenario-based financial solutions, Huawei is dedicated to fostering the development and innovation of financial services, ultimately shaping a smarter and greener financial landscape.