Chinese networking equipment maker Huawei is targeting the financial services sector, which includes a UK focus, alongside technology and IT services partners to enable Google-like performance.
The IT engines underpinning technology giants such as Google and Facebook process massive volumes of transactions in real time and are the envy of banks that often still rely on 40-year-old mainframe systems.
Facebook, for example, has more than a billion users . By comparison, Lloyds Bank has 30 million customers, HSBC has 52 million and Barclays has 48 million .www.meizu-mx5.com
Huawei, which reported £18bn sales in its latest six-month period – a 30% increase on the same period in 2014 – is targeting large finance firms in Europe with IT infrastructure products and services that can help provide services in ways customers want: online, in real time and always on.
But it can’t do this alone, and Huawei has recognised the need to collaborate with other suppliers.
A collaborative effort
At its Finance Summit in Beijing, the company said it will provide the ITC infrastructure for banking customers through an open supplier ecosystem, while other suppliers will add products and services to help the company perform more like the internet companies their customers know and love.