One of China’s leading commercial lenders has entered an agreement with telecommunications giant Huawei for the launch of a joint R&D initiative.
On 14 November Huawei Bank executed a co-operative agreement with Huawei in Shenzhen for the joint creation of an “innovation laboratory,” to undertake joint research into the application of information technology and communications technology in the financial sector, as well as upcoming technological trends.
The focus of the laboratory will be “innovation cooperation” in the areas of the financial cloud, big data and artificial intelligence.
“Faced with a new round of technical revolution and industry transformation, Huaxia Bank is vigorously promoting a fintech development strategy with its foundations in big data, cloud platforms, mobile, the internet and artificial intelligence, in order to create an online finance value centre” said Huaxia Bank vice-president Guan Wenjie (关文杰) in a press release from Huawei.
“Huawei is a first class global IT enterprise, and its powerful technological innovation capability, customisation capability, as well as support capability that rapidly adapts to the customer suits our development needs.
“We have already engaged in in-depth cooperation with Huawei in the areas of IT infrastructure and the financial cloud, and in future will continue to deepen and expand research cooperation with regard to cloud platforms and artificial intelligence.”
Huaxia and Huawei first entered a co-operative relationship in 2015, with the creation of pioneering IT financial cloud.