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2025-04-05 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > Database >
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"Finance is currently the most important section of ZTE besides the telecommunications industry." Cui Liangjun, vice president of ZTE, called a spade a spade at the 2019 China International Finance Exhibition.
At the same time, ZTE, which made its debut at the financial exhibition, comprehensively demonstrated a full range of end-to-end products and solutions in the financial sector. ZTE has sent a very strong signal: make full efforts in the financial market!
The financial market is a big cake that is attractive enough for ZTE. On the one hand, technology is the life of finance, and financial institutions attach great importance to science and technology in the digital age. For example, a joint-stock bank directly writes "3.5% of its annual revenue into financial technology innovation" into the articles of association. On the other hand, with the rise of new services such as digital finance, distributed architecture and cloud natives have become popular in the financial field. The traditional infrastructure system built by IBM, Oracle, EMC and so on in the past 40 years is still of high value in the financial field, but it is unable to cope with the development of new business and new applications.
All these provide a huge market opportunity for ZTE. However, competition in the financial market is by no means easy, especially in infrastructure, databases and other areas, there are a large number of market competitors. There are established companies like IBM and Oralce, which have worked hard in the financial field for many years and already have relatively perfect products, solutions and after-sales service departments, as well as Internet upstarts such as Aliyun, Tencent Cloud and Jinshanyun who have rich practical experience in cloud native, distributed and other technology fields.
For ZTE, the financial market is undoubtedly a big test of market judgment, strategic determination and action execution. So, where is ZTE's breakthrough in the financial market? What kind of strategy will ZTE focus on in the financial market?
Take the "new financial engine" as a breakthrough
Unlike other manufacturers, ZTE's biggest advantage is that its wide range of products and solutions have been honed in the telecommunications industry. "ZTE is a technology company that has always invested heavily in research and development, which is ZTE's biggest advantage in expanding the financial market." Cui Liangjun said bluntly.
For this reason, ZTE chose the distributed database with extremely high threshold as a major breakthrough in the financial market, hoping to thoroughly open the financial market through GoldenDB, the core product of the distributed database.
For a long time, the database market of domestic financial institutions has been basically monopolized by a few companies such as Oracle and IBM. With the accumulation of technology, market and services for many years, these companies have built a high threshold for market access and competition. It is even more difficult for new market competitors to make a major breakthrough in the database field.
At the same time, with the acceleration of the digitization process in the financial field, the status of the database, which carries the core work of data processing, storage and query, is rising rapidly, which can be called a new engine in the financial field. Especially with the acceleration of applications such as 5G, big data, Internet of things and artificial intelligence, financial institutions need to support future development through distributed architecture, in which distributed database will play a vital role.
The central bank's latest Financial Technology (FinTech) Development Plan (2019-2021) has clearly put forward distributed pilot projects, which shows a clear signal that distributed databases have really entered the stage that needs to be done. " Cui Liangjun, vice president of ZTE Corporation, said.
In fact, ZTE has many years of R & D experience and profound industry practice in the field of distributed database in the telecommunications industry. ZTE began to develop a database of financial institutions in 2014. It took ZTE five years to build a distributed database GoldenDB suitable for financial transactions and strong consistency, which has been applied or tested in a number of banks. Take a large domestic commercial bank as an example, the bank has just replaced the international database brand with ZTE's GoldenDB in its core credit card business, and has recently completed a complete business switch, and each business system is running stably at present.
Cui Liangjun said: "this is a landmark event of a milestone." GoldenDB has become the first domestic database in the core business system of large domestic banks. All this needs to be attributed to ZTE's continuous investment in the database field for nearly 20 years. At present, ZTE has a database research and development team of more than 500 people. Cui Liangjun revealed that the R & D team will be further expanded in the next few years to continue to enhance the core competitiveness of GoldenDB.
In ZTE's view, building a new financial engine in line with future business development does not mean starting all over again. As we all know, after years of information construction, many domestic financial institutions have accumulated a large number of business systems and data. the new financial engine should not only play the role of profit from the old, so that the past investment of financial institutions can be protected and continued. it can also provide good support for all kinds of digital innovation in the future.
"the first consideration of the financial industry is security and stability. I have always been opposed to blindly emphasizing the advantages of the Internet architecture. We should know that the development logic of many businesses of banks over the past 30 years is different from that of the Internet business. If we all follow the Internet architecture at once, the cost of this migration is unacceptable to the industry." Cui Liangjun said bluntly, "for newly created banks, we can actually use a distributed architecture to build them from the very beginning. However, many domestic banks still need to maintain the core data that they have accumulated for many years, which is precisely the original intention of ZTE to do financial database."
End-to-end solutions build comprehensive capabilities
In addition to the core product database, another major advantage of ZTE in the financial sector lies in its full range of end-to-end product and solution capabilities.
ZTE can provide comprehensive products and solutions for financial customers from multiple dimensions, including infrastructure products and solutions such as financial cloud, server, storage, Datacom and modular data center supporting the construction of financial IT system, as well as core database products, operating systems, and omni-directional manageable secure office solutions. ZTE even exhibited applications such as intelligent real-time anti-fraud systems that are very close to the new needs of financial business at this financial exhibition.
Take modular data center as an example, ZTE has always been a low-key and powerful market competitor with rich practical experience in modular data center. For example, ZTE and China Unicom have built the largest micro-modular data center in Asia for Tencent.
For example, unlike other industries, customer service business is a cost center, customer service contact business is an important production system of the financial industry, but also an important source of profits, which plays a vital role in the development of financial business. ZTE also has rich experience in the construction of the bank's customer service contact center. For example, the new generation contact center built by ZTE for China Construction Bank has 100% independent intellectual property rights, 270 + patents, is the first "new generation" contact center of the four major banks, realizes 100% cloud deployment of modules, integrates 5G video into VR/AR customer service applications, and can accommodate 18000 + IVR,9000+ seats.
In addition, ZTE's new generation of secure office solutions, including uSmartView cloud computers and ultra-high-definition video, are based on cloud computing technology and built around the trinity of system security, data security and application security, which are very suitable for production office, call center, business hall and other business scenarios in the financial sector.
In fact, the financial industry is very dependent on the strength of science and technology, and it is also one of the industries with the fastest process of digital construction. As 5G enters the commercial stage, as well as the acceleration of applications such as big data and artificial intelligence. The integration of IT, CT and even OT technology will be more obvious in the financial field, some emerging financial business may integrate cloud computing, artificial intelligence, 5G and even the Internet of things related technologies. Therefore, companies like ZTE, which have rich experience and deep technology in the fields of IT, CT and even OT, are actually more conducive to creating end-to-end products and solutions in line with the future development of finance.
"on the one hand, ZTE will increase investment around distributed and other core technologies to lay a good foundation for future financial development; on the other hand, ZTE also hopes to provide more useful help to financial institutions at the business level from big data, artificial intelligence, 5G and other areas." Cui Liangjun said, "in fact, in addition to chips, hardware and other products, ZTE is also a company that pays special attention to software. For example, in the application of ultra-clear video, in addition to hardware, there are hundreds of millions of lines of code behind, and strong software capabilities are also the key core competitiveness of ZTE."
Build a large ecology and output new kinetic energy
Compared with other industries, finance is actually an industry that relies very much on ecological power. In the past few decades, the success of foreign manufacturers in the financial market, in addition to advanced products, the construction of products and technologies around the application developers, partners, service system and other ecosystem can be said to play an important role.
As a matter of fact, ZTE also knows very well that if we want to work hard in the financial market for a long time, we must rely on the strength of ecology. To this end, ZTE is working on building an ecological alliance around its core database, which will adhere to the concept of open cooperation and conduct in-depth cooperation with a number of enterprises, including CPU, operating systems and middleware application systems, to join hands with more partners to create better financial solutions.
Cui Liangjun said: "the financial market must not fight alone, ecological partners are very important in the financial field." take the database as an example, to connect with a variety of financial applications, the lower needs to support a variety of underlying hardware, no matter how good products can not be developed without the support of ecological partners. "
According to the introduction, ZTE has two main ideas for the construction of ecological alliance. on the one hand, it is to comprehensively expand the existing products in the financial field, such as databases, through the continuous enhancement of database research and development capabilities, continuous innovation and improvement of database products, and promote complete online and offline technical support service capabilities and all-round personnel training guarantee, further consolidate the competitiveness of products On the other hand, we will join hands with biosphere partners to create a benign biosphere.
"ZTE hopes to work with partners to seize the market opportunity of structural transformation of the financial industry and work with partners to output new momentum for the financial industry and contribute to the future development of the financial industry." Cui Liangjun finally said.
Generally speaking, it is most accurate to use the term "do not fight an unprepared war" to sum up ZTE's all-round financial market. After years of accumulation in the financial field, ZTE has become increasingly clear about the market positioning, strategic layout and core competitiveness of the financial market, and is indeed capable of making a difference in the vast financial market. Let's wait and see what ZTE will do in the future!
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