Huawei to launch the Innovation Lab for Digital Finance and Security

By Joy Dumasia

In September, Huawei and its regional Ecosystem Development business and its R&D centre in Finland will lead to the Digital Finance and Security Innovation Lab launch. Designed to address the increasingly urgent requirement for banking, finance and payment services in Europe to become digital-first, Huawei is looking to collaborate with multiple industry stakeholders to accelerate progress and satisfy customer demands.

Establishing the Helsinki-based Lab as an incubator in which ideas and programs can be discussed and developed, Huawei aims to create a base for technology, shape improved industry standards, and develop products and services that fit today’s needs. The Lab will also facilitate and support the financial services sector through innovative technology solutions that improve customer experience and loyalty.

In preparation for launching the Digital Finance and Security Innovation Lab, the Huawei team, as a donor of Helsinki-Aalto Institute for Cybersecurity, is working closely with Aalto University and has also invited pan-European banks, FinTechs, and industry associations to get involved.

Adam Rybusiewicz, Director of Financial Vertical Eco-Development and Partnerships for CEE, Nordics and Turkey at Huawei Consumer Business Group, said: “Unless we work together to strengthen the financial ecosystem, we will continue to struggle to bring secure digital services and products to people in a way that they can easily access, in particular for those that are unfamiliar or feel uncomfortable with the digital transformation. The purpose of the Lab is to generate not just new concepts, but to share experiences and challenges, and foster successful initiatives or business models that can be emulated across the finance, banking and payments sector.”