Asia Digital Bank Ltd (AsiaDB), a licensed Labuan Investment Bank, and Huawei Technologies (Malaysia) Sdn Bhd (Huawei Malaysia) signed a Memorandum of Collaboration (MoC) to establish cooperation in the development of future-oriented cloud-based digital solutions for franchises using Huawei Cloud technology.
The MoC represents both parties' mutual commitment to collaboratively developing and deploying various cloud-based digital solutions that enable cutting-edge services and experiences through distributor and reseller business models. The two companies will collaborate to establish and develop asset digitisation solutions, such as the cloud-based A-Bank Super Wallet App, based on both parties' technical knowledge and expertise.
AsiaDB's A-Bank Super Wallet App is cloud-native, with the goal of creating an innovative financial system through a comprehensive and integrated application of digital technologies such as cloud computing, big data, blockchain, and Artificial Intelligence (AI), all of which support the development of a cross-border digital financial industry.
Huawei Malaysia and AsiaDB have similar goals of offering digitalised services to the general population and digitally connecting the world. The partnership will take advantage of both firms' unique strengths and skills to investigate the production of enhanced project pipelines in the near future.
The MoC will also see both parties work coherently to produce more advanced digital solutions and projects that merge blockchain and cloud technologies to create extraordinary user experiences and services.
The signing ceremony took place recently at Huawei’s Customer Solution Innovation Center (CSIC) in Kuala Lumpur. The MoC was signed by Mr Liu Xuming, Chairman of AsiaDB and Mr Lim Chee Siong, Vice President of Huawei Malaysia’s Cloud and AI Business Group.
Commenting on the collaboration, Mr Liu Xuming said, “AsiaDB aspires to be the preferred choice for digital finance services locally and internationally. The cooperation with tech giant Huawei will not only 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 to strengthen and develop even higher standards of digital services provisions.”
Huawei Malaysia’s Vice President of Cloud and AI Business Group, Mr Lim Chee Siong highlighted that the combination of both parties’ highly innovative expertise and resources will provide a great opportunity to expand and establish a dominant new, efficient, safe, and secure user experience that will not only lead but also influence the entire digital financial industry.
“As technology partner and digital advisor, Huawei Malaysia has the expertise to equip franchises to respond to challenges of today and to lead them into the digital economy of tomorrow. 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 own innovative financial system,” he added.
Mr Lim added, “Malaysia is moving aggressively into Cloud and Huawei Malaysia hopes to escalate digital adoption in the financial industry to boost productivity growth and business expansion.”
Huawei, the leading global provider of information and communications technology (ICT) infrastructure and smart devices, has more than 30 years of technical experience and currently has more than 220 types of cloud services.
AsiaDB, on the other hand, is a well-known digital bank that offers institutional and enterprise-level customers digital finance services that combine digitalised assets and blockchain technology for cutting-edge solutions. The digital financial institution combines traditional and digital finance to accommodate clients in the digital and data-driven era.
