Latest Financial Cloud Report from Frost & Sullivan: Huawei Cloud Was Ranked First in Eight Categories
May 15, 2023 GMT+08:00
On May 15, 2023, Frost & Sullivan (an authoritative international market analysis firm) released China's Financial Cloud Solution Market Research (2022). According to the report, Huawei Cloud was No. 1 in terms of the overall assessment of three types of innovation solutions: financial distributed core system upgrade solutions, financial intelligent data lake solutions, and financial cloud native infrastructure solutions. Huawei Cloud was also ranked No. 1 by market share in five markets, including the financial cloud platform, financial dedicated cloud platform, financial cloud big data, financial cloud native database, and banking cloud markets.
According to Frost & Sullivan, in recent years, the financial sector has been facing great challenges, but has also seen opportunities in digital transformation. The key to successful digital and intelligent transformation is to think cloud native and act cloud native. As the environment has been changing both in and outside of the sector, financial distributed core system upgrades, financial intelligent data lakes, and cloud native financial infrastructure have become the new trends for financial cloud upgrade.
Based on the assessment from Frost & Sullivan, Huawei Cloud was ranked No. 1 in terms of product technologies, applications, and ecosystems and was leading the financial cloud solution market in China.
Huawei Cloud aims to become the cloud foundation and industry enabler with Everything as a Service. To respond to multi-faceted needs, Huawei Cloud provides comprehensive solutions including Huawei Public Cloud, Financial Zone, Huawei Cloud Stack, and Edge Cloud.
Huawei is a pioneer in empowering enterprises to dive into cloud and a fellow traveler in cloud transformation in the financial sector. Huawei Cloud Stack focuses on scenarios such as new distributed core systems, intelligent data lakes, and full-stack financial clouds to enable financial service innovation with technology.
· New distributed core systems
Huawei Cloud is fully dedicated to application modernization and provides high-performance, high-reliability, agile, and full-stack distributed core solutions for core financial systems. The integrated deployment of IaaS and PaaS improves end-to-end performance by more than 40%. In addition, more than 20,000 cloud nodes have been deployed for the financial sector in China. The unit-based architecture design and multi-region and multi-center deployment meet regulatory requirements of the financial sector.
· Intelligent data lakes
Huawei Cloud Stack proposed a data lakehouse solution, which is a new concept that combines the best elements of both data lakes and data warehouses. Based on the lakehouse solution, Huawei Cloud Stack uses FusionInsight to build a real-time financial data lake to allow for collaborative data analysis across different data sources, domains, and warehouses. There is no need to move data around, and data analysis efficiency is improved by 50 times. This approach also enables real-time data lakes to meet the growing demand for full-link, real-time processing and T+0 import of massive data. Finance customers can now quickly valorize data.
· Full-stack financial cloud platforms
Huawei is always working hard on technological breakthroughs, working hard to build secure, trusted, and innovative financial cloud platforms, to expand scenarios horizontally, and to add gPaaS & AI DaaS services vertically. Huawei enables financial service innovation.
Huawei Cloud Financial Zone is becoming a popular choice for many financial institutions due to its security compliance and flexible expansion capabilities. It complies with financial group cloud architecture, security, and disaster recovery technical standards and has earned financial compliance certifications such as financial DJCP (China's MLPS) Level 4, Payment Card Industry Data Security Standard (PCI DSS), and cloud computing service security assessment, so meeting compliance and reliability requirements for financial services is not an issue. An independent modular design is used for equipment rooms of the Financial Zone to strictly isolate physical resources through metal enclosures and two-factor authentication, and also isolate resources of each tenant to help the tenants obtain security certifications, so they can meet the service requirements of financial customers in different scenarios. The Financial Zone can provide a cloud service experience consistent with Huawei Cloud while also meeting the security compliance requirements of the financial sector. Numerous insurance and Internet financial customers, such as China Life Insurance, Yong An Insurance, and YeePay, have been running stably using the Financial Zone.
So far, Huawei Cloud has served more than 300 financial customers worldwide, including six major banks in China, 12 joint-stock commercial banks, top 5 insurance institutions, and seven of top 10 securities institutions. Looking ahead, Huawei Cloud looks forward to deeper involvement in the financial sector, to deeper integration of various technologies into specific scenarios, and to developing more scenario-based industry solutions to help financial institutions dive into cloud and accelerate the release of digital value.