Creates roadmap to realize technological innovations for progress
As a self-made global leader in technology, Huawei has been championing Asian growth in internet-based technologies such as 5G, the cloud, and artificial intelligence (AI) which have become increasingly vital to business in anticipation of the economic turnaround expected in 2021.
Following the unprecedented events of 2020 which caused a massive slump in economies worldwide, sectors like fintech have risen to prominence as the new anchors that have ushered in, stability, amidst the uncertainty of the pandemic.
In the Philippines, in particular, fintech has helped bring in inclusivity and a sense of empowerment that transcends socio-economic status. Fintech is poised to bring about a digital transformation that can realize the country’s potential through various industries spanning from e-commerce to edutech.
This has been evident particularly in Asia, as a region with the most data centers in the world, and in the Philippines, which is uniquely positioned to take advantage of the opportunities offered by Huawei.
“Huawei has always been keen to assist enterprises as they scale up and evolve to their next stage,” says Neo Teck Guan, Senior Director, Cloud Strategy and Consulting, Huawei Cloud Asia Pacific Region
“With our Cloud services, we have been able to provide some great experiences to different companies in several sectors. We believe, Cloud solutions should be accessible to everyone, and at Huawei, we are working relentlessly for the benefits of our partners with our latest technological innovation.”
This growing partnership between Philippine businesses and Huawei is set to introduce cutting-edge tech trends while showing them a road map that will be beneficial for the empowerment of all Filipinos.
Huawei unveiled this virtual road map last December 11, at the “FinTech 2021 Philippine Outlook: The Key to Unlocking the Economy Post-COVID.” Part of the World Fintech Festival (WFF), an online international gathering.
“Individuals and enterprises alike have become increasingly open to digitization especially in their transactions and their other daily activities. We had seen this surge during the pandemic,” Amor Maclang, Convener of the WFF Philippines and Executive Director of Fintech Philippines Association said.
“Only a year ago, a majority of Filipinos still preferred to do cash on deliveries and do their payments and other banking services in the actual stores or banks. But the lockdowns and work-from-home arrangements have changed all that. One recent study has shown that 87% of its respondents are now gravitating towards cashless transactions and digital payments. Electronic wallets like GCash experienced an increase in the use of their online financial services, about eight times more compared to what it experienced in 2019. Research by Google, TEMASEK, and Bain & Company say that 95 percent of Filipinos who have tried digital services only for the first time will keep on using them long after the pandemic is over,” Maclang adds.
Maclang says that the digitization of the country and its industries will have long-term positive impact on the national economy, businesses, the workforce, and the consumer base.
“We foresee this momentum and collective interest in digitization accelerating in 2020, especially as our economy recovers,” Maclang continues as she explains digitization of the country and its industries will have long-term positive impact on the national economy, businesses, the workforce, and the consumer base.
“That is why we have encouraged our partners in business to explore the leading groundbreaking technologies that can empower and prepare them for a digital future, which the rest of the world is heading to. Huawei can help lead us in this endeavour, especially given its experience in matching and merging appropriate technologies like the cloud and AI with various industry verticals,” Maclang adds.
In partnership with its homeland, the People’s Republic of China, Huawei has been instrumental in the transition of many traditional industries in Asia into the digital arena. They are nurturing and developing the so-called Asia tech generation. If built on a fintech platform, using a whole-of-nation approach, whole-of-government approach, the roadmap Huawei will create will be prove itself successful in the long run.
“The past few years have seen an unprecedented reverse diaspora of the best and brightest technology players choosing to domicile in the Philippines. It is our time to shine,” Maclang concludes.