At the recent 4th edition of the Zenith Bank Tech Fair, held to illuminate advancements in technology, Huawei made significant announcements regarding its Mobile Money solution aimed at catering to underbanked and unbanked populations, as well as small-to-medium enterprises. The event, a focal point for exploring innovations across artificial intelligence, cybersecurity, risk management, and financial intelligence, served as a platform for Huawei to showcase its commitment to enhancing financial accessibility.
In his presentation, Huawei's Chief Solutions Architect Qiu Yao addressed prevalent challenges in the financial industry. He described the necessity for financial institutions to develop a unified financial platform that not only streamlines transaction management but also drives revenue growth while mitigating competition from emerging FinTech companies. Central to Huawei's approach is the implementation of a Super app within its Mobile Money solution. This app integrates numerous mini-apps and functionalities into a single interface, aiming to significantly improve user experience. Yao highlighted this by stating, "There is also no limit on the number of apps to be hosted on it as it is cloud-hosted, hence, scalable."
Further expanding on industry transformations, Huawei discussed the Bank 4.0 Trend, which reflects the changing landscape of banking. The company introduced its four key features, labelled the “4 Zeros,” which are designed to foster an environment conducive to uninterrupted banking services. These features include Zero-Downtime, aimed at providing high availability; zero wait, enhancing the customer experience; Zero Trust, ensuring comprehensive network security; and Zero Touch, which facilitates improved business operations.
Huawei’s IT offerings are also pivotal in achieving these enhancements. The company presented its Digital Map solution, designed to facilitate network transformation and optimise operations from autonomous to intelligent systems. In pursuit of these goals, Huawei remains committed to bringing digital connectivity to every household, individual, and organisation, thus striving towards a fully integrated and intelligent world.
The importance of these innovations at the Zenith Bank Tech Fair reflects a growing trend in the financial sector, where technology and automation are reshaping business practices, improving access to financial services, and enhancing overall customer experiences in an increasingly digitised environment.
Source: Noah Wire Services