WeBank resolves to become a digitalization enabler at SFF x SWITCH 2020

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SINGAPORE, Dec. 9, 2020 /PRNewswire/ -- Dec 7 to 11, 2020. WeBank, the world's leading digital bank, virtually participated in the Singapore Fintech Festival (SFF) and the Singapore Week of Innovation and Technology (SWITCH) 2020, the world's first week-long round-the-clock, hybrid digital and physical event. It allowed audience access to over 650 speakers from the global innovation and tech community, 150 content partners, 200 sessions to engage participants and more than 900 exhibitors on the digital platform.

WeBank has engaged in the SFF for the third year in a row. At SFF 2019, Prime Minister of the Republic of Singapore visited WeBank's booth. This year, WeBank brought its latest fintech achievements and explained its commitment to be a digitalization enabler in the era of digital economy.

 Henry Ma, Executive Vice President and Chief Information Officer of WeBank, shared his insights of open consortium chain at the From 1 to 100 - The Future of Blockchain Consortium Building session. "The concept of Open Consortium Chain initiates an approach which allows for rapid development and deployment of blockchain applications and also leaves enough room for organic growth down the road," said Henry.

He also revealed the mutual recognition system of Macao blockchain health code and Guangdong health code. It is a typical digitalization case that adopted leading-edge technologies (or the new digital infrastructure) to build cross-border trusted collaborations in the digital economy era.

New digital infrastructure will catalyze the evolution of trust mechanism among businesses, which leads to deeper and wider trusted collaborations. Since its foundation, WeBank has researched and applied various digital infrastructure solutions, such as Federated AI Technology Enabler FATE, Open Consortium Chain platform FISCO BCOS, and one-stop open-source suitcase for big data platforms WeDataSphere. These open-source projects are gradually adopted by more communities of partners on their paths to digitalization.

As a technology innovator in the world's leading digital bank league, WeBank stressed the theme "New Infrastructure for Digital Economy" with specific fintech capabilities and solutions on its virtual booths at the SFF x SWITCH 2020. For the first time, WeBank moved the real space of its central core of IT management - Enterprise Command Center online via a virtual tour program. It deployed an immersive experience of a fully-online digital bank's daily operation. It also showcased latest researches and innovations in areas of AI, Blockchain, Cloud Computing and Big Data:

• In terms of AI, WeBank displayed a series of leading innovations in Federated AI Collaborative Ecosystem, New-generation Human-computer Interaction, AI Marketing, and AI Asset Management.
• WeBank illuminated the SG Blockchain Village with comprehensive Open Consortium Chain solutions including the infrastructure platform FISCO BCOS, middleware kits WeBase, applications such as identity authentication, data cooperation, cross-chain and privacy protection, as well as practical cases.
• Cloud computing enables WeBank to provide plug-and-play solutions via a unique open banking infrastructure built on distributed architecture. With the IT management tool WeCube and the virtual fintech lab Open Zone, WeBank innovates internet+ finance while boosting time-to-value, scale-for-effectiveness, and cost efficiency-for-return.
• WeDataSphere, an open-source financial-grade big data platform, allows enterprise to develop, deploy, operate, and manage the big data infrastructures supporting more than 250 million of customers online.

SOURCE WeBank Co Ltd