Wednesday, 04 August 2021

Huawei and Sunline jointly introduced the Digital Loan One Box contactless digital solution for financial services

At HUAWEI CONNECT 2020, Sunline and Huawei jointly unveiled the Digital Loan One Box Solution, a global contactless platform for financial services. This solution is designed primarily for countries and regions with strong demand for online financial services, such as Southeast Asia, the Middle East, Latin America or Africa.

The open Digital Loan One Box solution enables financial institutions to offer a range of contactless services, such as online lending and borrowing, risk assessment, video customer identification via E-KYC, borrowing and other services. This platform comes in response to the ever-growing demand from customers and financial institutions for digital financial services. The ability to provide financial services online is especially important at a time of pandemic, which many countries around the world are now struggling with.

Financial institutions are a pillar of national economies and need to be able to provide contactless, digital and online financial services, especially in the current situation. However, all global banks face the following challenges in the digital transformation: high costs, risks associated with replacing proven systems, limited budgets, uncertain returns on investment in transformation, lack of experience with this technology, growing competition and ever-increasing demand for contactless services. which is driven by a pandemic, etc.

Contactless financial services are services that do not require a physical visit to the customer at the bank. These services can be offered through many different channels, including online environments.

The Digital Loan One Box solution is based on the Huawei FusionCube infrastructure and the EDSP banking application, published by Sunline in 2020. This solution enables the rapid implementation of new services and system requirements. It also includes the DevOps application, which automatically compiles the most common products and services according to the requirements of financial institutions. This makes the deployment and preparation of new services and products even faster. Contactless banking services are more convenient for customers and, in addition, retain their professional character. As a result, they increase customer satisfaction and loyalty. In addition, the digitization of financial services enhances the prestige of financial institutions and helps them gain significant market share. This solution also includes low total cost of ownership (TCO), which meets investors' expectations.

For example, the Digital Loan One Box platform allows you to:

  • Real-time bank account creation and biometric identification, via various technologies (MFA)
  • Quick application for a loan, loan approval and drawing. Everything takes place online, while it takes three minutes to complete the application, the loan is approved in one second and no manual intervention is required
  • Preparation of promotional and marketing campaigns in real time
  • Fast processing of documentation after the loan is provided, immediate evaluation of the possibility of extending the loan maturity
  • Real-time customer information updates and non-stop services
  • Quick access for partners in this ecosystem, via an open API
  • Quick preparation of a standardized product offer, in which customers can easily and quickly find their way around and know each other
  • Fast implementation, the entire solution can be put into operation within two months

"In the midst of an ongoing pandemic, this solution is just in time for financial institutions. In these difficult times, it helps meet clients' demand for credit and loans and enables banks to offer these services economically and efficiently. In collaboration with our partners, we want to gradually offer the financial sector a global ecosystem and scenario-based solutions for both commercial (2C) and corporate ( 2B ) banking, "said Jason Cao, president of Huawei's global corporate customer service division. "Together with our customers and partners, we will start with 5G networks and gradually take advantage of opportunities in five key technology areas, such as connectivity, cloud solutions, computer technology, artificial intelligence (AI) and industrial applications. Ultimately, we will offer smart solutions and technologies based on different application scenarios that will facilitate digital transformation for financial customers. "

Chung-an Li, Sunline's vice president, added: "Sunline is a global banking information technology company. We constantly strive to introduce new innovations and stay at the forefront of financial technologies, and we help enrich communication between customers and companies. During the COVID-19 pandemic, we saw an urgent global demand for technological innovation, digital and open financial services. That's why Sunline and Huawei are now launching the Digital Loan One Box solution. This solution is intended for financial institutions and their customers, especially for those who lack technological possibilities. This solution is built on Sunline's banking platform, which excels in speed, flexibility, high performance, security and ease of installation. Meets business and system requirements and requirements of financial institutions, regardless of their size. In these extraordinary times, our goal is to provide a practical and helpful solution. "


Re-disseminated by The Asian Banker