IDC Recognizes CMB and HUAWEI CLOUD for Innovation in Financial Infrastructure
[Beijing, China, September 17, 2021] Today, IDC held the 2021 IDC China Digital Finance Forum and announced the winners of the 2021 IDC Future Enterprise Awards. The Cloud Data Warehouse Construction and Joint Innovation project by China Merchants Bank (CMB) and HUAWEI CLOUD took home the "Innovation Best Practice in Technical FSI Applications".
The Cloud Data Warehouse Construction and Joint Innovation fits the bill. Based on HUAWEI CLOUD, the project adopted HUAWEI CLOUD GaussDB(DWS) to build China's first ultra-large financial core data warehouse. By July 2021, all of CMB's retail data applications had been brought online. The project resulted in much faster data loading and batch processing while reducing the running duration of data applications on all links by over 15%.
To achieve this, CMB and Huawei set up a joint innovation lab in June, 2020, exploring the application of data analysis in FSI. Together, they designed new solutions for backup and recovery, precise disaster recovery, high-speed cross-cluster interconnection, and fast warm backup. This has allowed CMB to centralize virtual access to multiple clusters, making processes more efficient.
HUAWEI CLOUD GaussDB(DWS) is a one-stop all-scenario cloud data warehouse, which analyzes GBs and even PBs of data, offering multi-mode analysis and real-time processing capabilities. It also delivers ultra-large data computing and ultra-large concurrent query capabilities for traditional governments and enterprises (such as pan-finance). Its cloud data warehouses are deployed on the public cloud, helping Internet users adapt to frequent service changes. At the same time, smart IoT and industrial IoT devices can access data in real time along with ongoing computing of sequential and stream data.
Through ongoing innovation, CMB was able to build a distributed cloud database warehouse platform that features leading technologies, high availability, and high performance, getting closer to their vision of "big data for everyone". CMB focuses on user experience, developing new business models to tailor financial services to individual needs, and accelerates the digital transformation and upgrade of finance.
In the future, CMB will deepen its partnership with HUAWEI CLOUD to continue exploring financial technology innovation and digital transformation, looking to develop global best practices.