Huawei presented the Laboratory for Innovation in Digital Finance and Security – Fin²Sec

Today, the Laboratory for Innovation in Digital Finance and Security (Fin²Sec) was launched, a center where common challenges in personal finance can be solved through cooperation and product development. An ambitious initiative launched by Huawei will support the financial services sector in developing technology to improve the financial stability of customers, improve their experience and encourage loyalty.

Huawei and its R&D center in Finland will cooperate with researchers from Aalto University and the University of Helsinki, as well as with 15 participants 1 – banks and fintech companies across Europe. At the launch ceremony of the Fin²Sec Center, financial service providers such as the Austrian Raiffeisen Digital , the leading mobile payment system in Poland – BLIK , and a pioneer of open banking services from Norway, provided a unique insight into the challenges with which have faced in delivering digital solutions to customers.

“Huawei’s goal is to provide customers with a seamless AI life in all scenarios, and this includes easy and convenient access to financial services,” he said. Derek Yu, President of Huawei Consumer Business Group for Central and Eastern Europe, the Nordic Region and Canada. “The Digital Finance and Security Innovation Lab is stepping up our commitment to enabling new ideas that deliver solutions to today’s consumer needs. We are excited to open the door to bu duty technology and encourage innovation. ”

Factors behind digital transformation

The goals of the new Fin²Sec laboratory are focused on three key areas that drive digital transformation: mobile technology; competition in terms of innovation and partnership.

Huawei notes that in the last decade there has been a revolutionary development of the user experience when it comes to banking and financial services, and this change is supported by mobile technologies. However, the company also believes that it is possible to further improve digital financial services and the payment process, so that it is accessible through multiple devices, in order to meet the location, circumstances and scenario in which the user finds himself.

Siri Børsum, Vice President of Finance, Vertical Eco-Development and Partnerships at Huawei Consumer Business Group, said: “Partnership for Huawei does not only mean cooperation in terms of application availability on the AppGallery, but providing funding for innovation and growth. Huawei has made rapid progress in developing AppGallery as the third largest app store in the world. With 550 million active users worldwide per month and an annual growth of 46% outside of China, we are in a position to support financial service providers to make their services accessible to anyone and everywhere. “

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