BANKING & TECHNOLOGY
Building an Intelligent Data Foundation for the Financial Industry Du Yumin, Finance IT Solution Architect, Enterprise Business Group, Huawei explains why financial institutions increasingly need a simple, resilient, and agile unified storage solution to build a modern data foundation.
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he biggest challenge the banking industry faces today is the growth of Internet finance, as intermediate traders and Internet financial services providers have taken many retail customers from traditional banks, and are also working to attract enterprise customers. In 2020, this process has been accelerated by the global outbreak
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of COVID-19, which has directly led to the exponential growth of contactless transactions, boosting the development of Internet finance in the Middle East and beyond. To tackle the challenges Internet finance brings and improve their ability to first retain and then gain customers, banks must make the most of their reputations for relative trustworthiness and reliability, and greatly improve the
Banking and Finance news in the MEA market
flexibility and convenience of their service rollouts at the same time. To capitalize on the use of data, banks have a growing need to deploy data storage architecture that best suits their size and their service development expectations. As the data foundation that supports the modernization of the banking industry, storage technology needs to be clean, tough, and agile. But with a plethora of options on the market today, it can be difficult to evaluate the right solutions. Two factors are coming to the forefront of that decision making: service stability, and tailored service modules.
The Starting Point As a starting point, all banks have the same requirements for service stability, which is to have always-online services.
