Chinese equipment manufacturer, Huawei has partnered Sunline, a FinTech solution provider to launch what it tagged Digital Loan One Box Solution, a global contactless solution for financial services in Africa.
The solution, which was launched at the HUAWEI CONNECT 2020 and will be rolled out in other regions of Southeast Asia, the Middle East and Latin America, where financial inclusiveness is urgently necessary allows financial institutions to launch a wide range of contactless services.
Some of such contactless services include online loan product campaigns, customer E-KYC, risk assessment, fund disbursement and post-loan processing.
Commenting on the solution, Jason Cao, President of Global Financial Services Business Unit, Enterprise Business Group at Huawei, noted that the Digital Loan One Box Solution readily comes to terms as the cornerstones of national economies, financial institutions need contactless, digital, and online financial services, especially in the current situation solely rest on technology.
“Amid the ongoing pandemic, the solution comes at the right time for financial institutions. It can satisfy the demands of efficient lending and loan for both financial institutions and customers during such special times. Within this industry, we will continue to develop a global ecosystem and scenario-based solutions from 2C to 2B with global partners,” Jason said.
He argued that global banks face similar challenges in the course of digital transformation: huge costs and risks to replace legacy systems, limited budget and uncertain return on investment for transformation, lack of open business and technology experience, increasingly fierce competitions, and more demand of contactless service driven by the pandemic.
Contactless finance refers to services where customers and banks do not need to interact face-to-face. Via Omni-channels, it supports plug-in-based services, built-in businesses, and out-of-the-box features.
The Digital Loan One Box Solution is built on Huawei FusionCube Hyper-Converged Infrastructure, adopting the enterprise-level microservices banking framework EDSP released by Sunline in 2020. The solution supports rapid, dynamic horizontal scaling on both the business and system demands. It also provides DevOps continuous delivery assembly lines to meet the increasingly agile development requirements of financial institutions.
Contactless banking services make banking much more convenient while remaining user-friendly, timely, and professional, leading to better customer satisfaction, retention, and loyalty. The interconnection of the financial ecosystem serves boosts market share and reputation of financial institutions. The solution also offers a cost-effective TCO that meets their investment expectations.
