KUALA LUMPUR, April 18 (Bernama) -- 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 serves as a mutual commitment by both parties to jointly develop and implement various cloud-based digital solutions that enable state-of-the-art services and experiences through distributor and reseller business models. The two parties will cooperate to create and develop asset digitisation solutions based on both parties’ technical knowledge and expertise, such as the cloudbased A-Bank Super Wallet App.

AsiaDB’s A-Bank Super Wallet App is cloud native which aims to create an innovative financial system through a comprehensive and integrated application of digital technologies like cloud computing, big data, blockchain and Artificial Intelligence (AI), which supports the development of a cross-border digital financial industry.

Huawei Malaysia and AsiaDB share similar goals of providing digitalised services to the public and connecting the world on a digital level. The collaboration will leverage both companies’ individual strengths and capabilities that complement each other in exploring the generation of advanced 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 prominent digital bank that provides digital finance services to serve institutional and enterprise-level customers, combining digitalised assets and blockchain technology for contemporary solutions. The digital financial institution integrates traditional and digital finance to accommodate clients in the digital and data-driven era. 

About Asia Digital Bank Ltd.
Asia Digital Bank Ltd. (Labuan Investment Bank) (Registration No. LL16434 and License No. 200134BI) (licensed Labuan Investment Bank) (AsiaDB) was launched by Nanjing Zijin Investment Group Co Ltd, a China state-owned enterprise, and established in Labuan, Malaysia. It was officially granted a digital investment banking license by Labuan Financial Services Authority (LFSA) in November 2020 and held its online launching ceremony on May 26, 2021. Asia Digital Bank is one of the first licensed digital investment banks in the world to provide a self-financing service system based on blockchain technology, providing global enterprises and individuals with digital asset management and transaction services that are compliant, secure, convenient and efficient while building a global digital asset ecosystem.

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About Huawei
Founded in 1987, Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. We have more than 197,000 employees, and we operate in more than 170 countries and regions, serving more than three billion people around the world. Our vision and mission is to bring digital to every person, home and organization for a fully connected, intelligent world. To this end, we will drive ubiquitous connectivity and promote equal access to networks; bring cloud and artificial intelligence to all four corners of the earth to provide superior computing power where you need it, when you need it; build digital platforms to help all industries and organizations become more agile, efficient, and dynamic; redefine user experience with AI, making it more personalized for people in all aspects of their life, whether they're at home, in the office, or on the go. For more information, please visit Huawei online at www.huawei.com or follow us on:

http://www.linkedin.com/company/Huawei
http://www.twitter.com/Huawei
http://www.facebook.com/Huawei
http://www.youtube.com/Huawei 

SOURCE: Asia Digital Bank Ltd (AsiaDB)

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Sonia Ramachandran
Public Affairs and Communications, Huawei Malaysia 
Tel: +6012 970 4319
Email: soniaa.ramachandran@huawei.com

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DM Analytics Sdn Bhd
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--BERNAMA