SPDB and Huawei Launch the SPDB Finwarehouse, Incorporating Digital Finance into Warehousing
PR91882
SHENZHEN, China, Sept. 23, 2021 /PRNewswire=KYODO JBN/ --
Shanghai Pudong Development Bank (SPD Bank) and Huawei presented the SPDB
Finwarehouse Solution at HUAWEI CONNECT 2021. The solution is one of the
biggest milestones in joint innovation for financial digitalization. It is also
a step towards consolidating the Bank of Things, as the solution uses IoT to
secure movable property pledges, making every object identifiable, every alarm
traceable, and every item trustworthy.
Last year, SPD Bank and Huawei released the Bank of Things White Paper, which
proposes a new financial services model and system. Following this, SPD Bank
began to apply innovative digital technologies to promote the Bank of Things,
partnering with Huawei to "dive into digital". SPDB Finwarehouse is one of the
important initiatives that has resulted from this partnership and direction.
The solution is designed for industrial supply chains and is an innovative way
to manage pledges for movable warehousing properties. Previously an area of
financial services that wasn't seeing extensive digitalization, movable
properties represent an innovation market space worth billions of yuan.
SPDB Finwarehouse: Secure and Easy Management of Movable Properties
Often, movable properties are subject to several risks. For example, ownership
may not be clear, so property is pledged several times. At the same time,
supervision companies may not always be completely ethical, which is why
adulteration is likely to occur. Even if supervision is precise, it is costly
without digital means. And without a disposal platform, goods are difficult to
monetize.
In response to these issues, SPD Bank has designed a more precise and
trustworthy solution. SPDB Finwarehouse uses RFID, weighing devices, and
blockchain PDA devices to record objective information directly at the
warehouse. Inbound goods are matched with financing and lending, while outbound
goods are linked with repayment. This makes goods supervision a lot easier and
more effective.
The solution also helps accurately determine the value of goods. It integrates
verified trade, perception, and market information, and uses it to determine
ownership, valuation, and efficient disposal. Essentially, logistics,
commercial, capital, and information flows become centralized, providing the
necessary data to properly valuate movable assets. Both upstream and downstream
enterprises can now access accurate financial services, which cover the
entirety of the supply chain.
Illustration: SPDB Finwarehouse: Trustworthy, manageable, and easy-to-dispose
movable properties
Trustworthy Asset Pool Powered by Smart IoT
Logistics and warehouses frequently use digital technologies. As such, Huawei
and SPD Bank are deploying intelligent IoT devices at warehouses along with
introducing AI capabilities and multi-dimensional data verification. This
transforms regular warehouses into financial ones, integrating financial
services into management and business processes.
Based on the HUAWEI CLOUD platform, SPDB Finwarehouse makes every object
identifiable, every alarm traceable, and every item trustworthy. The solution
features the following technologies:
Distributed RFID positions objects within meters, takes stock automatically,
and tracks items in real time.
With Pangu models, most models can be reused, reducing the number of samples
required for training and shortening the project development period.
The Huawei IoT platform implements GUI-assisted modeling, flexibly defines and
builds models, and centrally manages them. It cross-validates data through
digital twin technology, and performs comprehensive risk analysis on the goods,
processes, personnel, and environment of the warehouse.
Monitoring Center Ensures Authenticity of Inbound Goods
In the SPDB Finwarehouse Monitoring Center, operators can easily verify the
authenticity of inbound goods. They can count cargo stacks through Pangu models
and verify them using the scanning code, weight data, and trade background data.
"SPDB Finwarehouse is a pilot digital finance project. We have performed an
in-depth evaluation on the needs of the enterprise service market. Now, we need
to continue looking for ways to transform our business logic and rebuild our
technical capabilities in order to keep up digitalization." — said by Mr. Chen
Haining, GM of the IT Department at SPD Bank. He added, "By integrating digital
technologies into industries, we can use digital capabilities to drill down
into the supply chain scenarios of various real economy industries. SPD Bank
looks forward to working with Huawei to integrate finance with the real
economy."
In a world where everything is connected, new scenarios and business models
will continue to emerge.
"Huawei and SPD Bank will continue to innovate, providing leading technology
products and full-stack cloud infrastructure solutions for digital finance
upgrades. We will use technology innovation for faster financial services
upgrades, working together to further interconnect industries with tailored
financial innovation." — said by Mr. Jason Cao, President of Global Financial
Business Unit, Huawei Enterprise BG, "Huawei has contributed its full-stack
technologies to work on SPDB Finwarehouse with SPD Bank. With our customers, we
are diving into digital and promoting the upgrade of digital finance. We hope
to drive the real economy forward with the power of finance. Huawei is
committed to helping financial institutions as they constantly upgrade their
agility, intelligence, industry services, and ecosystem construction. We are
helping financial institutions along their digital transformation journey and
building a fully connected, intelligent, and ecosystem-based finance industry
together."
SPD Bank and Huawei set up a joint innovation lab in 2018, which has led to
several successful projects. In August 2020, they signed a comprehensive
strategic cooperation agreement, and together published The Bank of Things
White Paper — a major milestone. SPD Bank will focus on user experience, apply
digital technologies, and innovate with industries such as retail,
communications, transportation, and healthcare, to boost the digital economy.
In a world where everything is connected, finance, technology, and industry
will be closely linked. Huawei and SPD Bank are drawing on the power of
cloud-based FinTech to serve the community, enable customers, and create new
industry value.
Huawei hosts HUAWEI CONNECT 2021 online from September 23 to October 31. The
theme of this year's event is Dive into Digital. We're going to dive deep into
the practical application of technologies like cloud, AI, and 5G in all
industries, and how they can make organizations of all shapes and sizes more
efficient, more versatile, and ultimately more resilient as we move towards
economic recovery.
For more information, please contact our local team or check out
https://www.huawei.com/en/events/huaweiconnect
Source: Huawei
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