Huawei and Forms Syntron Release Open Banking Service Solution

Wednesday 22 May 2019
Dubai - MENA Herald:

Huawei and Forms Syntron have jointly released a distributed open platform solution “Fincube” for the global financial industry. Fincube will help banks to better meet the challenges of the "Bank 4.0" era, reduce innovation costs, optimize technologies, and continuously improve service openness capabilities that enhance the experience of bank customers.

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, and in this way the business model of the modern bank is being transformed.

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.

The Forms Syntron solution is built on Huawei's high-density integrated distributed technology solution FusionCube. 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. 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.

Zhou Zhiqun, chairman and general manager of Forms Syntron, said: "We are very honored to form a global partnership with Huawei. 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. 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 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.

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