This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Read our privacy policy>Search

Search

Cloud Ranks First in China's Financial Cloud Market

May 13, 2022

[Shenzhen, China, May 13, 2022] The Financial Cloud Semiannual Tracker (2021 H2) report by the International Data Corporation (IDC) ranked Huawei Cloud first on China's financial cloud infrastructure market. At the same time, Huawei Cloud Stack has ranked first on China's self-built financial cloud infrastructure market for four consecutive years.

A banner with a city skyline graphic stating that Huawei Cloud ranks first in China's financial cloud infrastructure market

Huawei Cloud has supported the intelligent transformation of China's Big 6 banks and 12 joint-stock commercial banks as well as the top 5 insurance companies. So far, Huawei has deployed solutions for over 300 financial institutions around the world.

IDC predicts that financial institutions will continue adopting multi-cloud architectures to comply with a range of policies and requirements. Due to strict policy, regulation, and data requirements, many financial industry customers first turn to hybrid cloud solutions during their transformation from Internet Data Center to Cloud Data Center.

To respond to this multi-faceted needs, Huawei Cloud provides comprehensive solutions including Huawei Public Cloud, Financial Zone, Huawei Cloud Stack, and Edge Cloud.

For one, Huawei Cloud Stack is a full-stack cloud solution designed for governments and enterprises that are looking to build their own cloud infrastructure. The strategy behind Huawei Cloud Stack is "Dive into Digital, Everything as a Service". As such, it focuses on the converged data lake, distributed core banking, and financial full stack cloud, enabling financial service innovation.

Intelligent and Efficient Converged Data Lake

More and more financial services are online, mobile, and scenario-based. This exponentially increases the volume and types of data these produce. As a result, regular warehouses that process one type of structured data can no longer cope.

Huawei Cloud offers a data lakehouse to solve this challenge. It builds a logical data lake through FusionInsight, so data can collaborate across sources, domains, and warehouses, without the need for data migration. This leads to 50 times more efficient data analysis.

The approach also enables real-time data lakes to meet the growing demand for full-link, real-time processing and T+0 import of massive data. Finance customers can now quickly valorize data.

For example, our logical data lake solution for ICBC supports key activities such as risk control, marketing, and business analysis. It does so through efficient data analysis across lakes and warehouses, providing a timely BI experience for 13,000 data engineers.

Agile and Reliable Distributed Core Banking

Financial institutions are turning to distributed core banking to cope with a growing volume of transactions and high single-account costs. To this end, Huawei Cloud Stack works with partners to provide a cloud-native, secure, and trusted full-stack digital core solution.

GaussDB — the industry's first software-only, full-encrypted distributed database — replaces traditional databases, providing high availability and scalability for the finance sector. It can expand the capacity of 1000 nodes and provide a single warehouse with PB-level storage capacity. With GaussDB, high-concurrency queries are 54% faster and delays for complex queries are 82% lower.

Huawei helped the Postal Savings Bank of China deploy and launch a next-generation distributed core system for personal services using Kunpeng hardware and a GaussDB database. This is the first time that a large-sized commercial bank has adopted both enterprise-level business modeling and distributed microservice architecture.

Financial Full Stack Cloud

Huawei is always working hard on technological breakthroughs to build full-stack autonomous cloud platforms, expand scenarios horizontally, and add high-level services vertically. This enables financial service innovation.

China CITIC Bank has built a cloud-native technology platform through its locally deployed cloud stack, which is the cornerstone of the bank's digital transformation.

Huawei Public Cloud

The finance industry is becoming more digital alongside the rapid development of Internet finance. This generates increasing demand for public cloud services. Huawei Cloud helps businesses migrate to the cloud, resolve core business issues, integrate intelligence in core processes, and accelerate service innovation.

For example, Guangfa Securities adopted a cloud-native technology architecture for its E-Taojin app. It can now roll out services in hours instead of weeks, releasing 28 new services per month on average. Also, Huawei Cloud Pangu Model helps Guangfa Securities identify enterprises with financial anomalies with an industry-leading accuracy of nearly 90%.

Financial Zone

Huawei Cloud financial zone is a dedicated cloud service to ensure secure, compliant, and reliable operations for financial institutions. It features an independent modular design for equipment rooms and strict isolation of physical resources.

The zone complies with the People's Bank of China's community cloud architecture, security, and disaster recovery standards. It has also obtained level-4 certification according to the Multi-Level Protection Scheme (MLPS), and passed the cloud computing security service assessment.

Currently, the financial zone provides abundant cloud services. Many insurance and Internet financial customers, such as China Life Insurance and YeePay, have been running using the Huawei Cloud financial zone.

Huawei Cloud will continue to explore distributed core banking, converged data lakes, and financial full stack clouds. We provide consulting services on cloud architecture, application migration, data enablement, and digital transformation planning. We also help financial institutions develop top-level designs and establish clear cloudification strategies.

During the digital transformation of finance, Huawei has served more than 2,000 financial customers in over 60 countries and regions, including 48 of the world's top 100 banks. We will continue to dive deep into financial innovation, and use leading ICT technologies, products, and solutions to shape smarter, greener finance, creating new value together.

TOP