Huawei Cloud Leads China's Financial Cloud Market, Accelerating Digital Transformation for Financial Institutions

Huawei Cloud Leads China's Financial Cloud Market, Accelerating Digital Transformation for Financial InstitutionsAccording to the "China Financial Cloud Market (H2 2023) Tracker" report published by IDC, a leading IT market research and consulting firm, Huawei has secured the top position in China's financial cloud infrastructure market, demonstrating strong growth momentum and consistently expanding its market leadership. In addition, Huawei Cloud Stack has also maintained its position as the top choice for financial institutions' self-built, dedicated cloud infrastructure in China

Huawei Cloud Leads China's Financial Cloud Market, Accelerating Digital Transformation for Financial Institutions

According to the "China Financial Cloud Market (H2 2023) Tracker" report published by IDC, a leading IT market research and consulting firm, Huawei has secured the top position in China's financial cloud infrastructure market, demonstrating strong growth momentum and consistently expanding its market leadership. In addition, Huawei Cloud Stack has also maintained its position as the top choice for financial institutions' self-built, dedicated cloud infrastructure in China.

The report highlights that as cloud infrastructure development becomes increasingly sophisticated among leading and mid-tier financial institutions, the comprehensive capabilities of cloud foundations and platforms are undergoing rigorous practical testing. The advantages of cloud computing are becoming increasingly apparent, serving as a powerful driving force for application innovation among financial users. In the field of artificial intelligence, large models are shifting from the theoretical exploration phase to the implementation phase, progressively integrating into financial institutions' AI development strategies. Concurrently, the distributed transformation of core systems is continuously underway in banks, leading insurance and securities firms, and other financial institutions, emerging as a major trend that provides numerous benefits, including: enhancing the proportion of technology-driven independent innovation, mitigating pressure on IT core nodes, and streamlining and reshaping business logic.

Huawei Cloud is deeply rooted in the financial sector, continuously integrating business scenarios with technological innovation. By capitalizing on its technical advantages in cloud-hardware synergy, it has launched a suite of solutions aimed at accelerating business innovation for financial institutions, including Mainframe-to-Cloud, Large Model Hybrid Cloud, and Financial Multi-Active Disaster Recovery.

Mainframe-to-Cloud Solution: Accelerating Core System Modernization

With the acceleration of industry digital transformation, the migration of mainframe systems to a development-oriented architecture has become inevitable. To achieve this, Huawei has leveraged its end-to-end, full-stack, soft-hardware synergy innovation technology and collaborated with partners to develop the Mainframe-to-Cloud solution. This solution, encompassing a new cloud-hardware synergy foundation, new scenario solution baseline, and new implementation process standards, provides banks, securities firms, and insurance customers with a comprehensive core system cloudification upgrade and transformation solution, accelerating the modernization of core systems.

Huawei's Mainframe-to-Cloud solution has been successfully implemented in multiple leading banks. For example, China CITIC Bank has built a full-stack cloud with cloud-native as its core using Huawei Cloud Stack, enabling critical business operations to migrate to the cloud and employing GaussDB (DWS) to support the cloudification of its data analysis core system. This move has reduced the average data supply time for China CITIC Bank's data marts by 4 hours, fostering a more mature digital ecosystem and enhancing its ability to deliver more personalized wealth management services to customers.

Huawei's Mainframe-to-Cloud solution will be showcased as a technological innovation achievement in the financial technology sector at the 2024 China International Finance Expo, which opens on July 19th.

Large Model Hybrid Cloud: Empowering Financial Institutions to Build Custom Large Models

In 2023, Huawei Cloud launched the industry's first Large Model Hybrid Cloud Huawei Cloud Stack pioneering the deployment of large models on local cloud infrastructure. It provides the industry's most comprehensive AI production chain, encompassing computing platforms, cloud services, development kits, and professional services. This initiative simplifies the construction, development, and operation of AI, enabling every financial institution to have its own custom large model.

Huawei Cloud has collaborated with leading financial institutions to explore the application scenarios of large models in areas like research and development, customer service, and credit granting, achieving initial success. Leveraging Huawei Cloud Stack's Large Model Hybrid Cloud, a major state-owned bank has built an AI computing cloud, creating an AI computing cluster capable of supporting the training of hundreds of billions of parameters in large models. By integrating a high-quality, multi-dimensional financial dataset, the bank has built a large financial model with leading cognitive capabilities based on Huawei Cloud's PanGu large model, laying a solid foundation for internal large model applications. Simultaneously, the Ascend Cloud services provided by Huawei Cloud offer instant-access, powerful AI computing capabilities for building enterprise large models for customers in sectors such as securities and insurance, effectively supporting continuous innovation within the financial industry.

Financial Multi-Active Disaster Recovery Solution: Ensuring High Reliability for Financial Systems

The financial industry's demands for system reliability are constantly increasing. Huawei Cloud's Financial Zone offers a variety of disaster recovery solutions, including cross-cloud primary-backup disaster recovery, in-city dual-active, geo-redundant disaster recovery, and two-location three-center solutions, achieving an availability of RPO=0 and RTO=15 minutes, meeting the stringent requirements of financial institutions for business continuity and data security.

Huawei Cloud Continues to Deeply Cultivate the Financial Industry, Supporting Digital Transformation for Financial Institutions

Huawei Cloud is deeply rooted in the financial industry, continuously integrating business scenarios with technological innovation and continuously optimizing its solutions based on the characteristics and needs of the financial sector, driving the digital transformation of the industry. Huawei Cloud will continue to work hand-in-hand with financial institutions to jointly build a more secure, reliable, and efficient financial service system, contributing to the innovative development of the financial industry.

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