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Last week, Huawei announced the release of a ground-breaking fintech product that is expected to change mobile money in Africa, expand financial inclusion, and vastly enhance the digital user experience for consumers. 

The device, known as Fintech 2.0, was unveiled at AfricaCom, the continent’s biggest technology conference. Additionally, the solution will enable micro, small, and medium-sized businesses (MSMEs) to undergo a digital transformation and give service providers more business flexibility. 

Huawei thinks that by doing this, emerging nations would experience an increase in digital financial inclusion and industry innovation. 

Mobile fintech operators benefit from fintech 2.0’s highly digital experience, quicker innovation, and accelerated speed to market.

The solution’s digital architecture enables operators to make sure that the total experience is tailored to every part of a customer’s life and integrates quick and easy loans with payments. Additionally, it speeds up innovation by making it easier for MSMEs to develop applications. Developers can quickly create service applications with the best visual tools and the least amount of coding by reusing existing industry assets, such as custom templates and components. Meanwhile, the open ecosystem of Fintech 2.0 enables operators to release apps to the market more quickly. It guarantees that partners can launch the service on a super app within one week and take marketing campaigns from idea to launch within three weeks by combining API, H5, and mini apps technologies.

The system offers container/microservice, auto-scaling, and gray release on a cloud-native platform, enabling software changes in days.

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

 “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,” he adds. 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 hopes to assist financial institutions in building digital business processes, implementing digital financial inclusion services, and achieving sustainable financial development.-Ends-About Huawei Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. With integrated solutions across four key domains – telecom 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, working to empower people, enrich home life, and inspire innovation in organizations of all shapes and sizes”

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