Huawei fintech offers to revolutionize mobile money in Africa

Huawei has announced the launch of an innovative fintech offering, which will revolutionize mobile money in Africa, with the aim of increasing financial inclusion and greatly improving the consumer’s digital user experience.

Called Fintech 2.0, the product was announced at AfricaCom, Africa’s largest technology gathering, last week.

The solution will enable micro, small and medium-sized enterprises (MSMEs) to digitally transform and provide service providers with greater business agility. By doing so, Huawei believes it will accelerate industrial innovation and digital financial inclusion in emerging markets.

Fintech 2.0 brings value to mobile fintech operators through a digital experience, accelerated innovation and faster time to market. In terms of digital experience, the solution’s digital architecture allows operators to ensure that the overall experience is tailored to all aspects of a customer’s life, combining simple and fast payment and lending.

In addition, it allows accelerated innovation by simplifying application development for MSMEs. Developers can reuse available industry resources, including custom templates and components to quickly build service applications using best-in-class visual tools with minimal coding.

Fintech 2.0’s open ecosystem, meanwhile, allows operators to bring apps to market faster. By bringing together API, H5 and mini-apps technologies, it ensures that partners can launch the service on a super app within one week and take marketing campaigns from idea to launch within three weeks. With a cloud-based platform, the solution supports containers/microservices, auto-scaling and gray release, enabling software updates in days.

Investment

“We were delighted to announce the launch of Fintech 2.0 at AfricaCom,” said Bryan You, Huawei South Africa Director of Software Solutions and Marketing. “Huawei continues to invest heavily in fintech research and innovation, creating solutions to help meet global challenges and support anticipated future developments.

“Huawei’s fintech solution uniquely combines the strengths of agile business development, a rapidly scalable platform, financial-grade regulatory and security compliance, and ultimately accurate real-time risk control, to confidently accelerate digital financial inclusion, providing access to the growing digital economies for each person and organization, he adds.

Huawei’s fintech solution serves more than 400 million users in more than 20 countries. Through contactless online payment, the solution has helped to reduce the economic impact of the pandemic, and in many countries governments are helping to provide subsidies to tens of millions of citizens and education supplements for millions of students. It has also helped create hundreds of thousands of jobs for women and provided financial services such as microcredit to those who need it most.

Fintech 2.0 aims to build on this legacy and help provide secure, stable and reliable platforms to ensure the safety and security of mobile financial businesses. Through its use of advanced connectivity and platforms, Huawei hopes to help financial institutions build digital business processes, implement digital services for financial inclusion, and achieve sustainable economic development.

About Huawei
Huawei is a leading global provider of ICT infrastructure and smart devices. With integrated solutions across four key domains – telecommunications networks, IT, smart devices and cloud services – we are committed to bringing digital to every person, home and organization for a fully connected, intelligent world.

Huawei’s end-to-end portfolio of products, solutions and services are both competitive and secure. Through open collaboration with ecosystem partners, we create lasting value for our customers, work to strengthen people, enrich home life and inspire innovation in organizations of all shapes and sizes.

At Huawei, innovation focuses on customer needs. We invest heavily in basic research, and concentrate on technological breakthroughs that drive the world forward. We have more than 180,000 employees and we operate in more than 170 countries and regions. Founded in 1987, Huawei is a private company wholly owned by its employees.

For more information, visit Huawei online at www.huawei.com or find us at www.huawei.com/za, or follow us at TwitterFacebook, LinkedIn and YouTube.

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