Chinese tech giant Huawei and fintech solutions provider Sunline jointly unveiled their new contactless solution for the financial services industry at the Huawei Connect 2020 virtual summit last week.
The Digital Loan One Box solution will be launched across countries and regions where there is a greater need for financial inclusivity amongst populations, like Southeast Asia, the MIddle East, Latin America, and Africa.
With the addition of remote biometric authentication, FinTech companies using Digital Loan One Box are able to grant greater financial freedom to their customers while providing them with the enhanced security that comes with multi-factor authentication (MFA).
Digital Loan One Box users can open new accounts remotely and securely using biometric MFA, an approach that has become increasingly valuable in recent months due to the outbreak of the COVID-19 virus.
“Amid the ongoing pandemic, the solution comes at the right time for financial institutions [as] it can satisfy the demands of efficient lending and loaning for both financial institutions and customers during such special times,” said Jason Cao, President of Global Financial Services Business Unit, Enterprise Business Group at Huawei. “Together with customers and partners in the industry, we will start with 5G and seize the opportunities across five major tech domains — connectivity, cloud, computing, AI, and industry applications,” he added.
The open and flexible nature of Digital Loan One Box — which is built on the Huawei FusionCube Hyper-Converged Infrastructure, with Sunline’s enterprise-level banking framework EDSP — allows financial institutions to utilize a number of contactless services including online load product campaign tools, risk assessment, and post-loan processing.
“During COVID-19, we realized the urgent need for technological innovation, digital services, and open financial services global wide,” said Hongan Li, Senior Vice President of Sunline. “[Digital Lone One Box] meets the dynamic horizontal scaling requirements of financial institutions of any size as both the business and system demands.”
September 28, 2020 – by Tony Bitzionis