China Minsheng Bank and Huawei reach strategic cooperation to jointly build a digital smart bank

[51CTO.com original article] On February 8, China Minsheng Bank and Huawei Technologies Co., Ltd. signed a strategic cooperation agreement in Beijing. The two parties will work together to build a new digital intelligent banking ecosystem of "technology + finance", give full play to their respective advantages, improve R&D innovation efficiency, improve customer service quality, and enhance business management capabilities. The two parties will focus on developing intelligent financial products and service innovations in the fields of cloud computing, big data, artificial intelligence, and the Internet of Things, promote the transformation and upgrading of the traditional financial industry, and better benefit the people's livelihood and serve the public. China Minsheng Bank Chairman Hong Qi, President Zheng Wanchun, Huawei Executive Director and President of Strategic Marketing Xu Wenwei, Huawei EBG China President Cai Yinghua and other leaders attended the signing ceremony.

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According to the strategic cooperation agreement signed by both parties, China Minsheng Bank's technology finance strategy and digital smart bank construction will receive more comprehensive and powerful support from Huawei. Based on the principle of mutual benefit and win-win, China Minsheng Bank and Huawei will jointly build a joint innovation laboratory in the fields of financial cloud, big data, artificial intelligence, Internet of Things and other new technologies, jointly explore intelligent financial cloud service models for peers, especially small and medium-sized financial institutions, incubate new big data technology products, and improve the management efficiency and user experience of supply chain finance through new technologies such as the Internet of Things, improve the intelligence level of financial operation services, help the development of inclusive finance, and serve the real economy. Huawei will provide better products and services for China Minsheng Bank to build a new generation of green and environmentally friendly smart data centers. At the same time, the two sides will strengthen information sharing and training exchanges in the fields of future technology trend research, corporate management and corporate culture, and provide planning suggestions for high-level decision-making.

Hong Qi, Chairman of China Minsheng Bank, said: "Innovation and win-win cooperation are the general trend of future economic development. China Minsheng Bank and Huawei will follow this trend and work together to build a digital smart bank that combines 'technology + finance' and provide more valuable high-tech services to our customers."

It is understood that in recent years, Minsheng Bank has taken the implementation of the "Phoenix Plan" as the main line and "being a bank for private enterprises, a bank for science and technology finance, and a bank for comprehensive integrated services" as the strategic direction to create a benchmark bank with distinctive characteristics, value growth, and continuous innovation. Strive to become a five-good bank with good customer service, good operating efficiency, good asset quality, good talent quality, and good brand image. Focusing on the science and technology finance strategy, Minsheng Bank actively uses new technologies such as big data, cloud computing, the Internet of Things, artificial intelligence, and blockchain to create a one-stop intelligent financial service platform, improve the digitalization and intelligence level of financial services, promote the development of inclusive finance, and enhance the well-being of the people.

Hong Qi said that he believed that the cooperation between Minsheng Bank and Huawei would surely produce a 1+1 greater than 2 aggregation effect. Through the signing of this cooperation agreement, Minsheng Bank's technology finance strategy and the construction of digital intelligent banking will receive more comprehensive and powerful support from Huawei. The two parties will achieve complementary advantages in multiple core business capabilities such as R&D innovation, customer service, and business management, and jointly promote the digitalization and intelligent transformation of the traditional financial industry to accelerate upgrading and develop new financial formats. The two parties will give full play to their respective advantages in financial technology and technology research and development, jointly build joint innovation laboratories and joint project teams, and carry out in-depth cooperation in new technology fields such as financial cloud, big data, artificial intelligence, and the Internet of Things. Innovatively develop intelligent financial platforms and technology financial products to provide customers with one-stop intelligent and personal services.

“A single flower does not make spring; a hundred flowers in full bloom make the garden full of spring.” Hong Qi concluded with this sentence. He pointed out that China Minsheng Bank and Huawei will take this strategic cooperation as an opportunity to work together with their partners to jointly create a "technology + finance" ecosystem and build a larger cooperation platform for both parties' customers and partners.

Xu Wenwei, Executive Director and President of Strategic Marketing at Huawei, said: "At present, the financial industry is facing important changes such as deepening institutional reform, promoting inclusive finance, improving service levels, and improving the financial regulatory system. It is imperative to promote the digital transformation of the financial industry through information technology. Minsheng Bank has always attached great importance to information construction and continuously implemented innovative practices in the industry's ICT architecture. Huawei hopes to use its own technology and R&D advantages in communications, cloud computing, big data, the Internet of Things, and other fields, as well as its successful experience in ICT innovation in the financial industry, to help Minsheng Bank build an ICT architecture for future business models and jointly build a digital smart bank."

The reporter learned that Huawei's enterprise business financial industry has a compound annual growth rate of more than 90% in the Chinese market. Huawei's financial solutions are very competitive in this industry and can quickly match the demands of banks. Xu Wenwei believes that the main reason is that on the one hand, Huawei focuses on R&D investment to ensure technological leadership. In 2017, Huawei was selected as the top 10 of the EU's "2017 Global Corporate R&D Investment Ranking", ranking 6th, which is a manifestation of Huawei's emphasis on R&D. On the other hand, Huawei's culture is customer-centric, and Huawei and its customers have established a relatively large number of R&D and innovation centers. He emphasized, "Today we signed a contract with Minsheng Bank, and it is also through customer needs that we are driving our R&D and the direction of our products and solutions. So we hope that through the signing of today's strategic cooperation agreement, and with the help of Minsheng Bank, Huawei will continue to move forward."

The signing of this strategic cooperation agreement has achieved the cross-border integration and coordinated development of the financial and technology industries. It is of great significance for leveraging the industry resources and technological advantages of both parties, providing users with more convenient, efficient and diversified high-quality technology financial services, providing partners with a broader "technology + finance" new ecosystem, and enhancing core competitiveness.

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