AfricaCom 2022: Huawei launches transformative fintech offering to revolutionize mobile money

Huawei last week announced the launch of an innovative fintech offering, which it said is set to revolutionize mobile money in Africa, aiming to increase financial inclusion and greatly improve the consumer’s digital user experience. Bryan You, Director of Huawei Southern Africa Software Solution and Marketing Called Fintech 2.0, the product was announced at AfricaCom, […]

Huawei last week announced the launch of an innovative fintech offering, which it said is set to revolutionize mobile money in Africa, aiming to increase financial inclusion and greatly improve the consumer’s digital user experience.

Bryan You, Director of Huawei Southern Africa Software Solution and Marketing Called Fintech 2.0, the product was announced at AfricaCom, Africa’s largest technology gathering.

The solution will also empower micro, small, and medium-sized enterprises (MSMEs) to digitally transform, and provide service providers with greater business agility. In doing so, Huawei believes it will accelerate industry innovation and digital financial inclusion in emerging markets.

Fintech 2.0 brings value to mobile fintech operators through an extremely digital experience, accelerated innovation, and expedited time to market. In terms of digital experience, the solution’s digital architecture allows operators to ensure that the overall experience is tailored to every aspect of a customer’s life and combines simple and fast payment and lending.

Additionally, it allows for accelerated innovation by simplifying application development for MSMEs. Developers are able to reuse available industry assets including custom templates and components to rapidly build service applications using the best visual tools with minimal coding.

Fintech 2.0’s open ecosystem, meanwhile, allows operators to bring apps to market faster. By bringing together API, H5, and mini apps technologies, it ensures that partners can launch the service on a super app within one week and take marketing campaigns from idea to launch within three weeks. With a cloud-native platform, the solution supports container/micro-service, auto-scaling, and gray release and enables software updates in days.

“We were pleased to announce the launch of Fintech 2.0 at AfricaCom”, said Bryan You, Director of Huawei Southern Africa Software Solution and Marketing. “Huawei continues to invest heavily in Fintech research and innovation, creating solutions to help address global challenges and support anticipated future developments.”

“Huawei’s Fintech solution uniquely combines the strengths of agile business development, rapidly scalable platform, finance grade regulatory and security compliance and finally, accurate real-time risk control, to safely accelerate digital financial inclusion, enabling access to the growing digital economies for every person and organisation,” he adds.

At present, Huawei’s Fintech solution serves more than 400 million users in more than 20 countries. Through contactless online payment, the solution has helped reduce the economic impact of the pandemic, and in many countries, aids governments in providing subsidies to tens of millions of citizens and education allowances for millions of students. It has also helped create hundreds of thousands of jobs for women and provided financial services such as micro-credit to those who most need it.

Fintech 2.0 aims to build on this legacy and help provide secure, stable, and trusted platforms to ensure the safety and security of mobile financial businesses. Through its use of advanced connectivity and platforms, Huawei hopes to assist financial institutions in building digital business processes, implementing digital financial inclusion services, and achieving sustainable financial development.