Huawei and Forms Syntron Release Distributed Open Banking Service Solution for Banks

Via Huawei Corporate News

Apr 26, 2019

Apr 25, 2019

[Shanghai, China, April 25, 2019] During Huawei's Global FSI Summit 2019, Huawei and Forms Syntron, a leading Chinese bank solution provider, jointly released the distributed open platform solution “Fincube” for the financial industry. Fincube will help banks at various scales better meet the challenges of the "Bank 4.0" era, reduce innovation costs, optimize technologies, and continuously improve service openness capabilities, to enhance the experience of bank customers.

Huawei and Forms Syntron jointly release the distributed open platform solution “Fincube” for the financial industry

The focus of the "Bank4.0" era is experience-oriented banking services, an open banking model based on distributed architecture. The online digital world and the offline physical world are converging rapidly, in this way, the business model of the bank is being transformed. Bank services are embedded into customers' daily life activities to improve customer experience. The agile innovation and operation governance system greatly accelerates the response of banks to market demands and changes. The advanced new-generation architecture and technologies greatly reduce operating costs.

The Forms Syntron solution is built on Huawei's high-density integrated distributed technology solution FusionCube. It has a smart, simplified, open, secure, and efficient distributed IaaS platform. The Forms Syntron financial distributed PaaS platform [Platform Universe] is built on Huawei’s FusionCube hyper-converged products. Based on the advanced computing, network, and storage capabilities provided by FusionCube, the Forms Syntron Universe Analytics Platform uses FusionCube as the basic unit of the distributed architecture and bears platform management and control capabilities. It also uses the Lego Open Banking Solution built based on the SolApp containerized microservice framework of the Universe Analytics Platform. The BaaS (Banking as a Service) capability library consisting of thousands of microservices enables customers to quickly innovate based on standard versions and continuously integrate and deliver new services.

Huawei FusionCube will provide the following new support capabilities in the Fincube solution:

The CubeCenter API is released to partners for the first time so that the management capabilities of hardware and IaaS technologies can be better integrated into the upper-layer architecture management and control and automatic O&M system to achieve more efficient and accurate management and control and further improve the service continuity of financial services.

The latest FusionStorage technology is upgraded to provide better and reliable storage capabilities. Data reliability and data access performance are the most critical technical features of financial institutions. With the integration of the Universe Analytics Platform with FusionStorage and the integration of mature technologies of Huawei PaaS, Fincube can deliver a brand-new experience to financial institutions.

Zhou Zhiqun, chairman and general manager of Forms Syntron, said: "We are very honored to form a global partnership with Huawei. Huawei is committed to building a smart world of universal connectivity and is willing to provide more financial solutions for financial customers. We are working together with Huawei on a full series of products developed and produced by Huawei featuring new technologies and architectures to create lasting value for customers. These products enable financial institutions to achieve strategic transformation based on the Fincube product system, and fully prepare for the challenges facing banking services in the new era. At the same time, we will work with Huawei to bring the innovative achievements of the Chinese financial industry over the past decade to the global market. "

"The financial industry solution jointly released by Huawei and Forms Syntron is based on the open capabilities of Huawei FusionCube hyper-converged infrastructure and a deep understanding of the financial industry,” said by Mr. Cao Chong, President of Huawei’s EBG Financial Services Business. “It can meet users' diversified requirements for mobile banking services and Internet financial services, eliminate performance bottlenecks, while flexibly expanding capacity to help commercial banks quickly build digital cores and reconstruct core competitiveness in the mobile era.”

Huawei Enterprise’s "Platform + AI + Ecosystem" strategy focuses on cooperation with partners to provide ubiquitous connectivity and pervasive intelligence for government and enterprise customers. In addition, Huawei delivers a digital platform that integrates various new ICT technologies to help customers complete their digital transformation. Currently, more than 700 cities around the world, and 211 of the Fortune Global 500 companies, including 48 of the top 100, have selected Huawei Enterprise as their partner in digital transformation.

Huawei has continued to work with top financial institutions, research institutes, and independent software developers worldwide to accelerate the transformation of financial institutions. Huawei currently serves more than 1000 financial institutions, including 20 of the world’s top 50 banks.

This content extract was originally sourced from an external website (Huawei Corporate News) and is the copyright of the external website owner. TelecomTV is not responsible for the content of external websites. Legal Notices

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