Huawei and Global FinTech Partners Explore the Key DNA Towards Business Success

The first Huawei FinTech Elite Club is successfully held during MWC Barcelona 2023. More than 60 high level customers and industry elites from Africa, Middle East, Asia Pacific, and Latin America attend the event.
At FinTech Elite Club, leading operators share their best practices and partnerships with Huawei. Industry organizations, carrier operators, banks and technology vendor exchange opinions and experiences of FinTech industry. Huawei sheds light on suggestions to push forward the FinTech business. Huawei provides open platform, localized service and innovative solution to help customer on further unleashing their combined advantages of user base, data asset and local operation to achieve FinTech business success.

Peng Song, President of Huawei's ICT Strategy & Marketing, elaborates on Huawei has invested in FinTech as strategic business, helping carriers to accelerate FinTech business success by further unleashing their combined advantages of user base, data asset, and local operations & platform through continuous innovation.

Figure 1: Peng Song, President of Huawei's ICT Strategy & Marketing

Chris Skinner, Industry influencer, points out FinTech is changing the world, and connectivity via the mobile carriers is playing crucial roles. FinTech is changing the finance industry through the fusion of finance and technology. The connectivity of carriers brings so many mobile devices together, enabling massively disruptive changes to FinTech services by connecting users and financial services.

Brian Gorman, FinTech Leader of GSMA, shares opportunities and challenges for operators in FinTech. There are 1.2 billion FinTech users worldwide, with a daily transaction amount of US$3 billion. 310 service providers have provided FinTech services in 96 countries. For operators, FinTech is a high-value service that has been developing continuously for more than 10 years. Super APP is a key service for building a digital ecosystem in the future. Digital payment is an important driving force for economic development. As an important partner, Huawei can provide high capacity, reliable, and flexible FinTech solutions.

Boniface Gitonga Mungania, Chief Digital Financial Service Officer of M-PESA talks about New Business Innovation of M-PESA. The success of M-PESA goes through 3 phases. The first phase is remittance digitalization which involved building customer trust, investment in technology and E-Value distribution. It’s about getting customer to trust that they can move money on a digital platform instead of cash. The second phase is payment digitalization.We have partnerships with banks to offer micro credit which serves as an enabler to payments, part of this is world-first mobile money-based overdraft (Fuliza) which has an embedded credit and has grown velocity to over 41 loans /second. Payment digitization focuses on simple use case like payments collection to complex use cases like API and developer community. The third phase is Ecosystem play. Connecting to all and delivering real impact like growing customer savings and wealth. Now, M-PESA has about 3 million businesses onboard, and 61,000 developers to join in innovations on the development platform.

Aamir Ibrahim, Jazz CEO says that Jazz is devoted to banking the unbanked. Through that they want to lead the country forward in financial inclusion. JazzCash focuses on pushing forward financial inclusion at early stage of its FinTech businesses. Today it has 16 million monthly active users and over USD 15 billion monthly transaction volume. JazzCash believes that the real boost to the economy would be giving working capital to SMEs, gradually impact user behavior habits, and leading digital transformation in finance in Pakistan. That's the ambition of JazzCash. That's the overarching vision at Jazz. Huawei provides leading FinTech solution and operation team to quickly response to our needs, helping us build up ecosystem.

Jacky Zhou，from Huawei’s Service & Software Solution & Marketing, expresses that promote the FinTech as strategic business, include more diverse services beyond e-wallet and further unleash the value of converged data are the three key DNA of FinTech business success. Huawei provides open platform, localized service and innovative solution like FinCare to boost FinTech business development and achieve success.

As per GSMA report, up to 2022, there are over 1.3 billion registered users in globally emerging market, with 1 trillion USD transaction value, a 30% CAGR in the past 5 years. It presents huge social value on people’s livelihood, finance, public sector.As a key contributor in FinTech, Huawei is serving 32 global customers, bearing 50% of transaction value in emerging market.

MWC Barcelona 2023 runs from February 27 to March 2 in Barcelona, Spain. Huawei showcases its products and solutions at stand 1H50 in Fira Gran Via Hall 1. Together with global operators, industry professionals, and opinion leaders, we dive into topics such as 5G business success, 5.5G opportunities, green development, digital transformation, and our vision of using the GUIDE business blueprint to lay the foundation for 5.5G and build on the success of 5G for even greater prosperity. For more information, please visit: https://carrier.huawei.com/en/events/mwc2023

This content is sponsored by Huawei.