Building Resilient Networks with Huawei Financial Cloud Network Solutionby Rebecca Oi June 21, 2023
The wave of digital transformation has propelled the global financial industry to the brink of a transformative overhaul. As traditional banking systems transition to tech-centric frameworks, enhancing performance, security, and customer experience has become the primary objective.
Against this backdrop, Huawei, an ICT technology company has established itself as a trusted partner, serving over 1000 finance customers across 110 countries and regions.
At the Huawei Intelligent Finance Summit, Jason Cao, CEO of Huawei Global Digital Finance, set forth the strategic direction for the industry. Central to his vision is “Building Resilient Infrastructure,” reflecting the growing significance of a robust, agile, and scalable digital infrastructure in the financial sector.
From over-the-counter transactions to digital transactions, from manual operations to AI decision-making, the evolution of infrastructure is accelerating. Its transformation towards a containerised architecture becomes increasingly critical for in-service realisation. However, this also introduces a host of challenges.
Huawei’s Financial Cloud-Network Solution
Today’s financial industry faces an array of complex challenges. How to improve high-speed and lossless data forwarding? How to select the best Software Defined Networking (SDN) technology?
How to ensure the service experience of high-priority service experience and VIP customer experience? How to build branch networks effectively? Answering these questions necessitates a solution that understands the financial industry’s unique needs and can adapt to changing dynamics.
Enter Huawei’s Financial Cloud-Network solution – a comprehensive package that includes a range of Datacom products and sub-solutions. It’s not just a product; it represents Huawei’s Intelligent Cloud-Network strategy tailored for the financial industry.
The newly incorporated features include the industry’s first digital network map, the only multi-computing hyper-converged Ethernet switch, and a network-storage linkage ransomware protection solution, among other breakthrough innovations.
These components tackle the significant challenges financial institutions operating in the current Multi-Cloud, Multi-Data Center (DC) environment face.
Navigating the Multi-Cloud, Multi-DC Era
A staggering 92 per cent of enterprises, according to a Flexera survey, prefer a multi-cloud architecture for their data centres. As financial institutions adopt a multi-cloud and multi-DC approach, dealing with multiple vendors becomes unavoidable.
Each vendor may have different network configurations and management software, resulting in higher Operations & Maintenance (O&M) and operating costs. Minimising these costs calls for accelerating the digital and cloud transformation journey. The key lies in unified network management and control across different clouds and vendors.
In response to this challenge, Huawei developed the smart banking Data Center Network (DCN) solution. This groundbreaking solution enables the swift rollout of cross-cloud services in a matter of minutes, thereby improving the agile innovation efficiency of banks. This approach not only speeds up the cloud transition of financial institutions but also aids in cost minimisation.
This reality brings forth complex challenges, such as different network configurations, doubled O&M burden, and operating costs due to diverse management software systems.
The smart banking DCN solution by Huawei solves these challenges by harmonising network management and control across multiple clouds and vendors. This unification streamlines and accelerates digital transformation and significantly reduces operational costs.
Enhancing network security and service reliability
In the fast-paced financial services landscape, organisations often encounter frequent changes, which, if not appropriately managed, can lead to errors and compromise network security.
Financial services are dynamic and subject to frequent changes. In a single year, they can undergo more than 3000 modifications. These manual modifications can potentially lead to errors, thus threatening network security.
Huawei’s smart financial DCN solution is designed to tackle these challenges head-on. With its error-free network changes and rapid service exception locating capabilities, financial institutions can achieve zero-risk operations and maintenance while ensuring the 24/7 availability of online financial services.
By leveraging Huawei’s intelligent technology, financial institutions can mitigate risks, increase service reliability, and provide seamless and secure customer experiences.
Transforming branch networks
Rapid and secure cloud connections become crucial as banking branches shift toward smart marketing and convergent services. Huawei’s smart financial SD-WAN solution offers a one-network connection to multi-cloud, reducing network construction costs, providing rapid branch rollout in a single day, and lowering private line costs by 40 percent.
Moreover, the solution ensures a smooth video experience for VIP customers, meeting the growing demands of modern financial services.
As digital transformation grows in the finance industry, banking branches shift from service-oriented to smart marketing. Accordingly, branch services are changing from simple transactions to more sophisticated and convergent services.
Emerging services such as smart teller machines, robots, VR, and HD 4K CCTV are adding strain to leased line costs and device capacity.
This transition poses significant challenges for network connectivity and management. Huawei’s smart SD-WAN solution addresses these challenges by enabling financial institutions to establish secure and rapid cloud connections for their branch networks.
Huawei’s smart financial SD-WAN solution provides a cost-effective alternative by leveraging SDN and intelligent traffic routing. It enables financial institutions to establish a secure, agile, and scalable network that connects branches to the cloud, minimising network construction costs and improving operational efficiency.
Thriving in the digital era
As financial institutions continue to innovate, the need to ensure rapid, secure cloud connections for their services is increasingly pressing. With the evolution of banking branches from service-oriented to smart marketing, the nature of branch services is also transforming, leading to a shift from traditional transactional services to convergent services.
Huawei’s Financial Cloud-Network solution seeks to transform the financial industry by addressing its unique network requirements.
With a focus on building resilient infrastructure, ensuring service reliability and security, and enabling efficient operations, Huawei empowers financial institutions to thrive in the digital era.
As the finance industry continues its digital transformation journey, Huawei’s Financial Cloud-Network solution stands ready to support financial institutions in pursuing innovation, efficiency, and superior customer service.
For more information about Huawei’s Financial Cloud-Network solutions, click here.