On June 3, 2021, Huawei announced the official launch of the Financial Partner Go Global Program (FPGGP) at the 2021 Huawei Smart Finance Summit.

Yusys Technologies (300674) is one of the first batch of partners of Huawei's FPGGP. It is reported that the first batch consists of 25 companies. FPGGP will establish partnership in five main areas, including policies and regulations, application scenarios, technical architecture, operation support, cooperation and promotion.

Ma Yue, President of the Huawei Enterprise Business Group Alliances & Partner Department and Global Sales Department, said, "Consumer finance is developing towards all encompassing, which requires an eco-system that crosses-industry, covers all scenarios and is three-dimensional. Huawei launched FPGGP at this time to join hands with capable partners who are willing to expand into the global market. To build a close interdependent relationship, gather all efforts to expand overseas, respond to challenges together, serve international financial customers, and create new value in the industry."

In recent years, Yusys Technologies has been exporting advanced domestic financial technology capabilities to overseas markets. It is widely distributed in Indonesia, Singapore and other Southeast Asian markets, ranking among the top 100 global financial technology enterprises.

Group photo of representatives from the first batch of FPGGP members

Gu Wenqi, Chief Consultant of Yusys Technologies, represented the company at this meeting

Working Together, "Exporting" Smart Financial Capability

At present, China leads the world in level of financial technology and practical experience. China's highly developed Internet network and digital technologies have provided solid foundation for the development of financial technology. According to relevant data from the China Banking and Insurance Regulatory Commission, the adoption rate of financial technology in China has increased from 29% in 2015 to 87% in 2019, ranking first among the world’s major economies.

Yusys Technologies, as the leading financial technology enterprise in China, has 22 years of experience in the finance industry. It is one of the largest IT solutions provider for banks in China. The company ranks first in the IT solution market of China's banking industry, with overwhelming superiority in the field of cloud solutions, credit, regulation and data.

In the Go Global Programme, Yusys Technologies will integrate over 20 years of real world experience in domestic financial technology industry with Huawei's advanced big data information technology, in order to provide the most advanced integrated solutions for overseas financial institutions, and accelerate the progress of China's smart finance overseas.

Yusys Technologies is no stranger with Huawei. As early as 2013, both companies have partnered to carry out a number of "first" projects by Huawei in the domestic financial industry. Yusys Technologies is part of the first group of strategic partners identified after Huawei’s transition from telecom to financial technology. Both companies have also worked together to create a number of joint solutions such as financial cloud data center, Omni-channel banking and financial big data.

During the recent 2021 Huawei China Ecological Conference, Yusys Technologies and Huawei released the "Joint Solution for Financial Data Center Platform". This product is a combined effort to create more standardized data center platform solutions for end customers, help customers establish and improve data capabilities. It also introduced an innovative “Open Standards Data Center Model” to provide companies with standardized requirements for building data centers. At this stage, the business in data technology, products, and technical solutions of Yusys Technologies have been fully integrated with Huawei.

In the field of domestic financial technology, Yusys Technologies has rich real world experience and leading strength in research and technology. At present, Yusys Technologies has provided professional services to more than 1,000 financial institutions, covering 13 types of licensed financial institutions, a wide and balanced customer base, especially in the banking industry where it holds the most market share. The company is not only a participant in financial business operation, but also one of the manufacturers with the widest coverage and the highest professionalism in finance industry.

In-depth Layout, Yusys Technologies Helps in Go Global Program

Since 2019, Yusys Technologies has continued to expand to overseas markets. Although the COVID-19 epidemic has affected expansion plans of many domestic companies, Yusys Technologies has not changed its strategy to actively expand in overseas markets.

After the outbreak, Yusys Technologies actively communicate and coordinate with customers and partners through online communication, and actively pushing for progress of overseas projects.

At present, Yusys Technologies has set up business entities in emerging markets such as Indonesia and Singapore. In the Indonesian market, Yusys Technologies Indonesia has signed cooperation agreements with a multinational bank and an Indonesian Group to provide digital banking platforms and cooperate in digital banking business operations. At present, the joint project between Yusys Technologies Indonesia and an Indonesian multinational bank has officially launched, and is operating smoothly. The joint project with a group in Indonesia is also progressing smoothly. At the same time, Yusys Technologies Singapore cooperated with a Chinese-funded state bank to provide a supervisory report reporting platform system. The project is currently undergoing trial operation.

Yusys Technologies stated that the company will continue to deepen strategic cooperation with partners such as Huawei, NTTDATA, and OCBC Bank Singapore, export the advanced products and services accumulated in the domestic market to the Southeast Asian market. In the next five years, the expansion of overseas markets will be an important part of the overall development strategy of Yusys Technologies.

Joining Huawei FPGGP will be undoubtedly boost to the overseas expansion strategy of Yusys Technologies.

According to public data, Huawei provides financial institutions with infrastructure upgrades, agile innovation upgrades, data intelligence upgrades, inclusive service upgrades and industrial finance upgrades in the field of smart finance, so as to accelerate digital transformation and realize intelligent upgrading. By the end of 2020, Huawei has served more than 2,000 financial customers in over 60 countries and regions around the world, including 47 of the world's Top100 banks.