Huawei says it is powering economic growth through mobile technology and financial inclusion
At the Mobile Technology for Development (MD4T) Conference, organized by the Ghana Chamber of Telecommunications and Financial Inclusion Forum Africa, Huawei as a key member of the Chamber participated in the open presentations and shared its solutions, experience and industry-best-practices in the areas of Digital Core Banking and financial inclusion platform architecture in Ghana and Africa as a whole.
Huawei’s participation comes against the backdrop of the company’s avid innovations and technological advancement in the areas of Core Banking and Mobile Money services platform to help deliver basic banking transactions with focus on developing economies.
In his presentation, the Executive Director for Channel Business at Huawei Ghana, Randy Oppong said “Mobile technologies have transformed the way we live, work, learn, bank, shop, and stay connected. Nearly all fundamental human pursuits have been touched, if not revolutionized by mobile including financial services.”
He added that Huawei’s Digital Banking Solutions and Mobile Money infrastructure provides an all-online, safe, reliable, flexible and sustainable mobile financial platform for telecoms and banks to provide high efficiency and low cost financial services for users. This allows for more convenience with transfers, payments, shopping, deposits, loans and insurance.
He also said that Huawei is enabling Financial Services organizations to build new Digital Core Banking and Data Lakes Analytics platforms that enable them to deliver secure and delightful banking experiences to consumers on any device from anywhere.
Mr. Oppong noted that, with many cases within and outside China, Huawei have enabled banks such as KCB in Kenya, ICBC and CMB in China, NCBA in Kenya, Bangladesh Bank to provide digital platforms and financial inclusions to their customers.
He cited the robust Vodafone Cash and the recently launched GCB G-Money as platforms demonstrating Huawei’s footprint in Ghana’s Mobile Money and digital banking ecosystem.
The Director for Enterprise at Huawei Ghana, Geoffrey Li said, “Huawei hopes to fully integrate and develop its core technologies and capacities in the financial sector, provide high efficiency and low cost financial services for people in the poor and low-income bracket, make financial services more accessible and convenient, and promote the development of the financial inclusion industry.
“In light of these Huawei’s innovative technology in the ecosystem is not restricted, and because it works on both smartphones and featured phones, it has been particularly successful in developing markets.”
Mr. Li added that “there are about two billion unbanked people all over the world. Poverty, high cost, distance and account restrictions are the main reasons why they cannot use the banking business.
The rapid development of mobile communications and digital payment systems has created opportunities for these people to obtain economic and reliable financial instruments through mobile phones and other digital interfaces.
Huawei therefore aims to put the development promotion of financial inclusiveness as a strategic goal and will work together with its global industry partners to provide better services to the two billion unbanked people in the world.”
Huawei Mobile Money focuses on transforming the financial lives of the two billion unbanked or underserved people in Emerging Markets by enabling customers to manage their money and financial transactions: simply, efficiently and safely.
Huawei Mobile Money has been commercially deployed in 19 countries, serving over 152 million users which represents 22% of registered Emerging markets’ Mobile Money accounts.