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Huawei unveils fintech service to transform mobile money in Africa

Leading global Tech Giant, Huawei has launched an innovative fintech offering set to revolutionize mobile money in Africa, aimed to increase financial inclusion and improve the consumer’s digital user experience.
The product called Fintech 2.0 was announced at AfricaCom, Africa’s largest technology gathering.
Mr Bryan You, Director of Huawei Southern Africa Software Solution and Marketing in a statement said the solution would empower micro, small, and medium-sized enterprises (MSMEs) to digitally transform and provide service providers with greater business agility.
It said in doing so, Huawei believed it would accelerate industry innovation and digital financial inclusion in emerging markets.
The Fintech 2.0 brought value to mobile fintech operators through an extremely digital experience, accelerated innovation, and expedited time to market.
The statement said in terms of digital experience, the solution’s digital architecture allowed operators to ensure that the overall experience was tailored to every aspect of a customer’s life and combined simple and fast payment and lending.
Additionally, it allowed for accelerated innovation by simplifying application development for MSMEs.
It said developers were able to reuse available industry assets including custom templates and components to rapidly build service applications using the best visual tools with minimal coding.
The statement said Fintech 2.0’s open ecosystem, meanwhile, allowed operators to bring apps to market faster.
It said by bringing together API, H5, and mini apps technologies, it ensured that partners could launch the service on a super app within one week and took marketing campaigns from idea to launch within three weeks.
“With a cloud-native platform, the solution supports container/micro-service, auto-scaling, and gray release and enables software updates in days,” it said.
“Huawei continues to invest heavily in Fintech research and innovation, creating solutions to help address global challenges and support anticipated future developments,” Mr You said.
He said, “Huawei’s Fintech solution uniquely combines the strengths of agile business development, rapidly scalable platform, finance grade regulatory and security compliance and finally, accurate real-time risk control, to safely accelerate digital financial inclusion, enabling access to the growing digital economies for every person and organisation.”
At present, Huawei’s Fintech solution serves more than 400 million users in more than 20 countries
Through contactless online payment, the solution has helped reduce the economic impact of the pandemic, and in many countries, aids governments in providing subsidies to tens of millions of citizens and education allowances for millions of students.
It has also helped create hundreds of thousands of jobs for women and provided financial services such as micro-credit to those who most need it.
Fintech 2.0 aims to build on this legacy and help provide secure, stable, and trusted platforms to ensure the safety and security of mobile financial businesses.
Through its use of advanced connectivity and platforms, Huawei expressed the hope to assist financial institutions in building digital business processes, implementing digital financial inclusion services, and achieving sustainable financial development.

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