Huawei plans to expand financial services

Huawei Technologies plans to expand its IT infrastructure and cloud services in the finance industry, which deals with huge volumes of data and requires digital transformation, the tech giant said on Thursday. 

Huawei, with more than 2,000 financial organization clients in over 60 countries and regions, also launched a program to help partners "go global," integrating various IT infrastructure and services. A total of 25 firms became the first batch of partners for its Financial Partner Go Global Program.

Finance firms will upgrade business and infrastructure to "digital ecological enterprises," with devices, cloud and business scenes. Huawei and its partners can fuel the upgrade and digital transformation, said Peng Zhongyang, president of Huawei's Enterprise Business Group.

Huawei, facing strict US sanctions, is seeking new business growth engines besides the traditional wireless and smartphone business.

Huawei's services for the finance industry cover cloud, network communications, storage, security, data analysis and payment. 

In China, Huawei is the No. 1 infrastructure service provider in the finance industry's cloud market. It has over 300 finance clients in China, including all the top 10 banks. A total of 580 million people around the world use Huawei's cloud service. 

Other top cloud infrastructure providers in China include Alibaba and Tencent. Compared with them, Huawei has a strong hardware and telecommunications background, analysts said.