The International Data Corporation (IDC), the global provider of market intelligence, advisory services, and events for the information technology, telecommunications and consumer technology markets, along with Huawei have released a major White Paper titled: “Banking Industry Rises up to the New Normal.” In the paper, the IDC and Huawei surveyed the impact that Covid-19 has had on the banking industry and outlines steps that should be taken by banks to ensure their future success. As part of this report, IDC and Huawei developed a Banking Resilience Index, which quantifies the current status of banking by region in terms of six key measures. The index showed major regional differences and can be used by banks to assess their own Resilience and provides guidance for where to focus for future success.
“Huawei and its partners are showing the wide range of FSI solutions, including Financial Cloud, smart branches, digital CORE and intelligent data platforms.
“These solutions allow banks to reduce costs, increase agility to the rapidly changing FSI environment, attract and retain customers and position themselves against emerging competitors. The recent disruptions to everyday life have moved the focus of financial services to Mobile and Huawei has been a leader in supporting the move to mobile interactions globally, based on the early experiences in China. “The insights we are sharing are allowing financial customers globally to respond and support customers in these trying times,” the organisations explained in a statement.
It pointed out that the experiences led Huawei to work with the IDC on the report, adding that some of its major findings were centered around the financial impact of the pandemic on bank’s balance sheets, the exponential increase in digital payments from mobile devices and the dramatic shift in the role of branches in banking services.
