China Minsheng Bank and Huawei reach strategic cooperation to build a digital smart bank with technology and finance

[Beijing, China, February 8, 2018] 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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Signing ceremony site

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."

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 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.