DigitalCFO Newsroom | 25 July 2022
Huawei proposed a financial digital infrastructure that will empower digital transformation of the financial industry.
During the Huawei Intelligent Finance Summit 2022, Huawei proposed the Multi-domain collaborative, Efficient, Green, and Autonomous (MEGA) financial digital infrastructure, and unveiled solutions empowering digital transformation of financial industry.
MEGA Infrastructure Is A Global Trend For Finance
Riding on the megatrends of fully connected, fully intelligent, and all scenarios finance, digital innovation is the key competitiveness for business growth, operational resilience, and sustainability, which has also become the crucial engine of the global digital economy. The ultimate user digital experience and business innovations are accelerating digital transformation of the financial industry.
Dr. Margaret Hu, President of Marketing and Solution Sales, Global Digital Finance, Huawei, said: “For digital and intelligent transformation of finance, Huawei will work with partners to embrace challenges ahead, and help the financial sector build MEGA digital infrastructure.”
MEGA represents multi-domain collaborative, efficient, green, and autonomous. Huawei believes these directions of MEGA is important for financial digital infrastructure evolution in the new era. To build MEGA digital infrastructure, the computing power, storage, and connectivity will be reshaped to empower financial institutions achieve high-efficiency, high-availability, and high-performance services through in-depth Cloudification Collaboration, Cross domain Collaboration and Heterogeneous Collaboration.
Nicholas Ma, President of the Enterprise Business Group, Huawei Asia Pacific Region, Huawei, said: “To build the green, digital and intelligent finance, we can move faster together only with healthy and sustainable ecosystem collaboration. We plan to enhance the ecosystem collaboration with global partners to match the digital demands from financial industry based on our fundamental research capability, innovative solutions, technology platform and Huawei Cloud.”
Driving Digital Transformation With Innovation
Based on Huawei’s leading innovative technologies and capabilities, Huawei works with partners to develop innovative digital infrastructure solutions.
- Industry’s first Storage-Optical Connection Coordination (SOCC): The combination of millisecond-level optical transmission link fault detection and fast storage switchover algorithm reduces the I/O link switchover from 120 seconds to 2 seconds when a transmission line is faulty, ensuring zero transaction failures and 24/7 online service for financial customers.
- Multi-Domain Controller (MDC): Financial customers’ public clouds, private clouds, and traditional data centers are isolated from each other, which makes it difficult for multiple departments to collaborate on network O&M. The MDC solution implements network-wide simulation verification and one-click configuration delivery, reducing the network change efficiency from days to minutes.
- Converged Storage Pool: To meet customers’ multi-environment requirements, all data from physical machines, VMs, containers, or public clouds, can be stored in one data resource pool and centrally managed using Huawei Data management engine (DME). This solution consolidates the data resources, improving the overall resource utilization from 40% to 70%, and lowering the TCO by 30%.
- Guaranteed Data Protection: In antivirus and anti-ransomware scenarios, the firewall, all-flash production, and all-flash backup are combined to achieve integrated protection ranging from virus detection, prevention, and isolation to data recovery. The virus detection rate is increased from 99.5% to 99.9%, and the backup and recovery time is shortened by five times. This solution effectively prevents virus attacks such as ransomware and ensures financial service security.
- Huawei works with Netis to jointly develop a service-level intelligent O&M solution for the financial industry, to address a series of IT O&M challenges.by this solution O&M of services, applications, clouds, data centers, networks, and devices can be visualized from end to end, covering all links.
- Huawei & Tongdun jointly developed Intelligent Risk Decision: Combining Tongdun’s industry-leading decision-making engine, model management capabilities, and with Huawei Cloud, leading data & AI technologies, such as Hetu, DGC, Lakehouse, and GES. This solution helps financial customers improve decision-making efficiency by over 70% in scenarios such as anti-fraud and credit rating. The average response time in large-scale concurrency scenarios can reach less than 50 ms. In addition, hundreds of typical rules and models are built in, facilitating quick deployment and meeting service challenges.
To date, Huawei has served over 2,000 financial customers in more than 60 countries and regions, including 49 of the world’s top 100 banks.