Huawei has launched an innovative FinTech offering which is aimed at increasing financial inclusion, improve the consumer’s digital user experience, and revolutionize mobile money in Africa.
Mr Bryan You, Director of Huawei Southern Africa Software Solution and Marketing, explained that the solution would empower micro, small, and medium-sized enterprises (MSMEs) to digitally transform and provide service providers with greater business agility.
Mr You noted that Huawei believed the new product would speed up industry innovation and digital financial inclusion in emerging markets. He added that the FinTech 2.0 will bring value to mobile FinTech operators through an extremely digital experience, accelerated innovation, and expedited time to market.
The statement said In terms of digital experience, the solution’s digital architecture allowed operators to ensure that the overall experience was tailored to every aspect of a customer’s life and combined simple and fast payment and lending. Additionally, it allowed for accelerated innovation by simplifying application development for MSMEs.
The Director of Huawei Southern Africa Software Solution indicated that developers are able to reuse available industry assets, including custom templates and components to rapidly build service applications using the best visual tools with minimal coding. He added that the FinTech 2.0’s open ecosystem will allow operators to bring apps to market faster.
Launching the Service on Super Apps
Mr You indicated that by bringing together API, H5, and mini apps technologies, it ensures that partners could launch the service on a super app within one week and take marketing campaign ideas to launch within three weeks.
“With a cloud-native platform, the solution supports container/micro-service, auto- scaling, and gray release and enables software updates in days. Huawei continues to invest heavily in FinTech research and innovation, creating solutions to help address global challenges and support anticipated future developments.
“Huawei’s FinTech solution uniquely combines the strengths of agile business development, rapidly scalable platform, finance grade regulatory and security compliance and finally, accurate real-time risk control, to safely accelerate digital financial inclusion, enabling access to the growing digital economies for every person and organisation.”
Presently, Huawei’s FinTech solution serves more than 400 million users in more than 20 countries. Through contactless online payment, the solution has helped reduce the economic impact of the pandemic, and in many countries, aids governments in providing subsidies to tens of millions of citizens and education allowances for millions of students.
It has also helped create hundreds of thousands of jobs for women and provided financial services such as micro-credit to those who most need it. FinTech 2.0 aims to build on this legacy and help provide secure, stable, and trusted platforms to ensure the safety and security of mobile financial businesses.
Through its use of advanced connectivity and platforms, Huawei expressed the hope to assist financial institutions in building digital business processes, implementing digital financial inclusion services, and achieving sustainable financial development.
The product called FinTech 2.0 was launched at AfricaCom, Africa’s largest technology gathering.
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