According to a joint statement by Huawei and Sunline, the financial solution christened Digital Loan One Box Solution will be rolled out across regions where financial inclusiveness is urgently necessary.
Some of the regions targeted by the new Huawei, Sunline solution include Southeast Asia, the Middle East, Latin America, and Africa.
Contactless finance which the new Digital Loan One Box refers to services where customers and banks do not need to interact face-to-face, a trend that is increasingly becoming popular during the COVID-19 period.
It makes banking much more convenient, while remaining user-friendly, timely, and professional, leading to better customer satisfaction, retention, and loyalty.
Digital Loan One Box adopts an open strategy, allowing financial institutions to launch a wide range of contactless services, such as online loan product campaign, customer E-KYC, risk assessment, fund disbursement, and post-loan processing.
” The solution is designed for financial institutions and customers, especially for those lacking technology capabilities. The agile platform features high flexibility, loose coupling, high performance, and distributed deployment.”Hongan Li – Senior Vice President of Sunline
Some of the challenges banks face include, huge costs and risks to replace legacy systems, limited budget and uncertain return on investment for transformation.
The solution responds to the urgent need from both financial institutions and their customers for digital financial services particularly at this time when the corona virus pandemic is straining cashflows for families and businesses.
Financial institutions can also carry out quick online loan origination, approval, and fund disbursement.
Other services that the Digital Loan One Box can offer include, real-time formulation of promotions and marketing campaign, flexible post-loan processing, immediate loan extension evaluation, and real-time account information update and non-stop services.
Huawei also says that users can also enjoy; quick access for ecosystem partners via standard open APIs, highly standardized products in which customers can easily understand, and fast deployment which can go live within two months.