Huawei Cloud, in collaboration with Fintech Saudi, successfully hosted the Huawei Cloud Fintech Day Saudi Arabia 2024, showcasing innovative cloud solutions for the rapidly evolving fintech industry in the Kingdom. The event brought together industry leaders, government officials, and fintech pioneers to explore the latest trends and technologies shaping the future of financial services.
The Huawei Cloud Fintech Day Saudi Arabia 2024 marks a significant milestone in the ongoing collaboration between Huawei Cloud and Saudi's fintech ecosystem. With strong support from Fintech Saudi, the event underscored the shared commitment to fostering innovation and digital transformation in the country's fast-growing fintech sector.
As a highlight of the event, Huawei Cloud introduced the Fintech Pioneer Program, offering exclusive discounts to fintech companies in Saudi Arabia. This initiative underscores Huawei Cloud's commitment to supporting the fintech sector and accelerating digital transformation in the Kingdom.
Nezar Alhaidar, CEO of Fintech Saudi, delivered an insightful opening speech at the event, highlighting the emerging trends in Saudi Arabia's fintech landscape. Alhaidar emphasized Fintech Saudi's commitment to empowering fintech companies and fostering growth in the sector. He stated, "The fintech industry in Saudi Arabia is at a pivotal moment, poised for unprecedented growth. Our collaboration with Huawei Cloud demonstrates our commitment to providing fintech companies the necessary tools and infrastructure to thrive in this dynamic ecosystem."
Alan Qi, President of Huawei Cloud Middle East & Central Asia, reaffirmed Huawei Cloud's dedication to accelerating intelligence in the fintech industry. Alan remarked, "At Huawei Cloud, we recognize the transformative power of fintech in shaping the future of financial services. Our advanced cloud solutions are designed to empower fintech companies in Saudi Arabia, enabling them to innovate rapidly, scale efficiently, and maintain the highest security and compliance standards."
Abdulaziz Alotaibi, VP of Cloud Business in Huawei Cloud Saudi Arabia mentioned “With the continuous efforts Fintech Saudi has been doing for the fintech industry, Huawei Cloud has been working on understanding how can we support the industry to elevate their digital transformation and innovation with our quality standards. We are committed to helping fintech enterprises to provide more secure, efficient, and fast financial services through agile innovation, intelligent risk control, and security compliance to provide flexibility, efficiency, and security to the fintech companies.”
Innovative Solutions for Fintech Challenges
The event showcased Huawei Cloud's comprehensive suite of solutions designed to address the unique challenges faced by fintech companies. Huawei Cloud KooVerse, with its extensive global coverage of 33 regions, 93 availability zones, and over 2800 CDN nodes worldwide, ensures consistent low latency for smoother payment experiences. This robust infrastructure is crucial for fintech companies aiming to provide their customers with seamless, real-time financial services. Huawei Cloud Riyadh Region has 3 availability zones, with ultra-low latency providing optimal experience in Saudi Arabia.
Security compliance remains a top priority in the financial sector, and Huawei Cloud emphasized its commitment to meeting the industry's stringent requirements. This includes obtaining local security compliance certifications and implementing robust measures to ensure transaction and migration security.
The event also highlighted Huawei Cloud's cloud-native database, which provides unparalleled performance and elasticity while preventing vendor lock-in and reducing hidden costs. Its cloud-native database solution is a game-changer for fintech companies, offering the flexibility and scalability that fast-growing fintech enterprises need without compromising performance or data integrity.
Build Strong Fintech Ecosystem Community
In an effort to attract more and better financial partners, Huawei Cloud has consistently adhered with many policies. KooGallery wants to be the go-to platform for customers to distribute enterprise applications and for developers and partners to monetize their businesses. As of right now, KooGallery has attracted 6 million developers and over 45,000 partners. With over 12,000 SKUs launched, most finance scenarios are covered.
New technologies and business cases have come to light in recent years, showcasing Huawei Cloud's achievements and efforts in building ecosystems. In order to offer customers more comprehensive and professional one-stop solutions from the financial technology core system to the periphery system, Huawei plans to collaborate with additional ecosystem partners in the future, both upstream and downstream of the financial technology industry, and jointly build a prosperous financial technology ecosystem in Saudi Arabia.
Huawei Cloud, with the support of Fintech Saudi, is dedicated to helping fintech enterprises provide more secure, efficient, and faster financial services through agile innovation, intelligent risk control, and robust security compliance. The innovative Fintech Pioneer Program provides these innovative companies the boost they need to reach new heights in their digital transformation journey.
Source: Press Release