KUALA LUMPUR: Asia Digital Bank Ltd (AsiaDB) and Huawei Technologies (Malaysia) Sdn Bhd (Huawei Malaysia) signed a memorandum of collaboration (MoC) to develop cloud-based digital solutions for franchises using Huawei Cloud technology.
The MoC is a mutual commitment by both parties to jointly develop and implement various cloud-based digital solutions that enable services and experiences through distributor and reseller business models.
The two parties will cooperate to create and develop asset digitisation solutions based on both parties' technical knowledge and expertise, such as the cloud-based A-Bank Super Wallet App.
AsiaDB's A-Bank Super Wallet App is cloud-native and aims to create an innovative financial system through a comprehensive application of digital technologies like cloud computing, big data, blockchain and artificial intelligence (AI), which supports the development of a cross-border digital financial industry.
The collaboration will leverage both companies strengths and capabilities in exploring advanced project pipelines in the near future.
The MoC will also see both parties work coherently to produce advanced digital solutions and projects that merge blockchain and cloud technologies.
AsiaDB chairman Liu Xuming said AsiaDB aspires to be the preferred choice for digital finance services locally and internationally.
"The cooperation with tech giant Huawei will support us in achieving this goal, but it will also produce new and enhanced digital solutions unseen anywhere else that will better serve various industries worldwide.
"It will also help strengthen and develop even higher standards of digital services provisions," he said today.
The MoC was signed by Liu Huawei Malaysia Cloud and AI Business Group vice president Lim Chee Siong.
Lim highlighted that the combination of both parties' expertise and resources would allow an opportunity to expand and establish a new, efficient, safe, and secure user experience that will lead and influence the entire digital financial industry.
"As a technology partner and digital advisor, Huawei Malaysia has the expertise to equip franchises to respond to today's challenges and lead them into tomorrow's digital economy.
"We will be the core driver in fulfilling these ambitions by driving digital innovation using Huawei Cloud to assist the financial industry in creating their innovative financial system," he said.
Lim said Malaysia is moving aggressively into the cloud, and Huawei Malaysia hopes to escalate digital adoption in the financial industry to boost productivity growth and business expansion.