Data is the new gold in the rapidly changing financial services industry

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SPONSORED | Huawei's awarding-winning OceanStor Dorado all-flash storage meets all the requirements of evolving financial institutions, handling real-time transactions, e-banking, clearing and transfers. HuaweiEntSAR

11 March 2021 - 12:17For more information about Huawei’s OceanStor Dorado All-Flash Storage, join the Huawei Tech Summit on March 18 2021. Picture: SUPPLIED/HUAWEI ENTERPRISE

According to the 2020 McKinsey Global Payments Report, the Covid-19 pandemic accelerated a series of existing trends in consumer and business behaviours, significantly boosting the shift towards e-banking, digital and instant payments, and bringing about half a decade's worth of changes in just a few months.

Mobile phone payments have become one of the defining features of the new era, marking a major shift away from traditional payment methods. And though each transaction is small, the high transaction frequency and need for 24/7 availability places a more than tenfold increase in pressure on bank IT systems.

Huawei’s OceanStor with NoF+ solution runs over an intelligent lossless network while the all-flash storage enables an automatic system for fault detection in real-time. As a result, faults can be proactively rectified and the link failures are detected in less than a second. This improves system reliability and provides a seamless core service.

 

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