Swipal Technology and Huawei Cloud Will Promote the Financial Technology Innovation and Digital Transformation of Traditional Banks

During the Huawei Intelligent Finance Summit 2021, Swipal Technology and Huawei Cloud will promote the financial technology innovation and digital transformation of traditional banks. The main forum of the summit will be attended by prominent figures. Mr. Peng Zhongyang, Member of the Board and President of Enterprise BG, Huawei; Jason Cao, President of Global Financial Services Business Unit, Enterprise BG, Huawei; Zhang Yuxin, CTO, Cloud BU, Huawei; Jia Yongli, President of AI Domain, Cloud BU, Huawei, etc. delivered keynote speeches and invited many financial industries customers and partners discussed the hot topics in the financial industry such as financial digital transformation, cloud native, financial technology innovation, inclusive finance, stories about the digital transformation of the financial industry in China and the world.

In recent years, China's technology finance has developed rapidly, from the 1.0 stage of ‘from payment to financial management of Fin-tech’, to the 2.0 stage of ‘technological consumer finance’, and to the 3.0 stage of new technologies such as big data, cloud computing, artificial intelligence, Blockchain, and Dcep. The in-depth integration of finance and technology has promoted a wave of technological and commercial updates, and has brought a broader market development opportunity. Swipal Technology is one of Huawei's cloud ecosystem partners. As a pioneer of China's technology and finance going overseas, it seeks new development opportunities in the scope of globalization.

At the same time, more and more technology financial companies choose to go overseas, mostly in emerging markets such as Southeast Asia, the Middle East, Africa and Latin America.

These emerging markets have rapid economic growth, strong consumer demands, rapid growth in the credit market and large scale (the scale of the digital economy in Southeast Asia will reach 150 billion US dollars in 2025, with a compound annual growth rate of 15-20%), global quantitative easing and consumption stimulation provide the soil for the growth of consumer finance.

Edward, President of Swipal Technology, said that China's financial technology industry has made obvious progress. Swipal Technology combines its own technology and financial capabilities with successful domestic and foreign credit operations experience to provide to banks with innovative business departments and financial micro-finance institutions. A set of innovative "business-success-oriented" SaaS solutions, of credit loan business, rapid deployment of innovative services (without affecting the existing system business). Solve the pain points of customers in the process of innovation such as high trial and error costs, slow decision-making process, lack of sufficient business operation experience and innovative talents. Swipal Technology uses the full-process business system and business operation empowerment to truly help customers quickly realize the business success of online credit transformation.

In the Philippines, Swipal Technology has empowered Inclusive Credit, a licensed credit institution, to help it develop online credit business. Within one month, the business was launched, and the whole-process business system of risk control, core system, post-loan, and operation management realized the rapid deployment of SaaS, and the customer on-boarding (SaaS tenant account opening). And through follow-up business consulting operation services, it has achieved an exponential user growth of 5 million users within half a year, became a leading local online credit institution, overcame the impact of the epidemic, and achieved steady and successful business returns.

In the strategic direction of "SaaS-ization of products and digitalization of enterprise transformation", Swipal Technology adopts the "product + service" business model of "digital financial technology + digital financial operation services", and cooperates with Huawei Cloud as a partner to help customers quickly realize the cloud-based deployment of innovative services, promote the financial technology innovation and digital transformation of traditional banks.

The HUAWEI CLOUD INTERNATIONAL resources used by Swipal Technology not only realize the rapid deployment of applications on the cloud, but also solve the problems of data localization and local policy compliance for business going overseas. Developers can also use the HUAWEI CLOUD INTERNATIONAL’s environmental infrastructure services such as testing services and security, providing the products with full life cycle services and empowerment to ensure product compliance, stable and safe operation. The Huawei cloud ecosystem provides a good technical environment for partners, and at the same time brings more opportunities.