Huawei calls for a ‘non-stop’ digital banking in Africa

Huawei announced its ‘Non-Stop Banking’ initiative and unveiled it at the Huawei Intelligent Finance Summit for Africa 2023.

The initiative calls for hand-in-hand collaboration between the ICT and banking industries and facilitate a digital future of ‘non-stop’ services, ‘non-stop’ development, and ‘non-stop’ innovation.

Leo Chen, president of Huawei Sub-Saharan Africa Region spoke about why going digital has become such a major imperative for the banking industry. Not only does it make it easier for banks to broaden their customer base, he said.

In Africa, he added, there’s an even greater imperative for banks to embrace digitization, as it allows for greater financial inclusion.

Huawei has already served more than 2500 financial customers in over 60 countries and regions, including 50 of the world’s top 100 banks. Numerous Huawei technologies, Chen said, are helpful on this front.

Over the years, it has provided the foundation and backbone for the digitalization of the banking industry in Africa by supporting the construction of the continent’s ICT infrastructure and digital connectivity in rural areas.

From a technical perspective, he pointed to Huawei’s strength in storage, fibre optic networks, IP networks and data communication, which enable ‘multi-domain collaboration’ solutions for banks.

For example, its ‘storage and optical connection coordination (SOCC)’ solutions can reduce system switchover time from two minutes to two seconds after a network breakdown, ensuring zero transaction interruptions.

The multilayer ransom ware protection (MRP) technology, meanwhile, can provide 6-layer protections, from storage, to network, to applications and other layers.

Beyond technology, Huawei issued a call for all parties in the industry to come together and build more robust ICT infrastructure, facilitate more measures and policies to encourage digital finance innovation, cultivate a sound innovative ecosystem, and train more digital talent for the industry.

The Huawei Intelligent Finance Summit for Africa 2023 brought together more than 200 attendees, including key industry opinion leaders, as well as executives from major banks across Africa.

By ethionegari@gmail.com

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