M-PESA is a good example of the power of the SuperApps concept and Huawei sees large opportunities for similar concepts.
Through the creation of a mobile SuperApp, financial service businesses can “plug in” offerings from other businesses and allow users of their respective mobile applications to seamlessly integrate with the other companies.
“By building SuperApp ecosystems, banks can improve their relationship with existing customers, attract new customers, and increase their profits through simplified operation and new revenue streams,” Ronald added.
Digital IT Solutions
Huawei and Murong Technology, a leading provider globally in digital IT solutions, are providing a wealth of software products and solutions for customers within the financial sector, including banking, insurance funds, and securities, among others.
Under this partnership, Murong and Huawei jointly released the digital core banking system, which is a one-stop solution for end-to-end digital banking services.
The partnership has also seen the two organizations jointly work on the project implementation and capably development and enhancement within NCBA’s platforms.
Murong Technology seeks to expand business across the African market.
Ronald Raffensperger, Huawei’s CTO Digital Transformation, noted that based on Huawei’s global experience, banks in Kenya and Southern Africa should begin to move from offering products to becoming platforms.
Jovan Liao reiterated that Huawei has been engaged in the financial services industry for a decade, serving over 4,000 financial institutions in over 60 countries and regions, including 47 of the world’s top 100 banks.