ZTE Corporation has successfully hosted the "5G+AI Empowering Financial Technology Innovation Forum” in collaboration with the China Academy of Information and Communications Technology (CAICT), the China Association of Communications Enterprises and DAHAN TRICOM during MWC Shanghai 2023.
GSMA, in collaboration with the China Academy of Information and Communications Technology, the China Association of Communications Enterprises, China Telecom, China Mobile, China Unicom, and other prominent organizations and enterprises in the communication and financial sectors, brought together over 300 experts and representatives from domestic and international financial institutions, technology enterprises and communication industry entities. Notable participants included the Asian Financial Cooperation Alliance, China UnionPay Data, China Pacific Insurance, ZENITERA and DAHAN TRICOM. The purpose of this gathering was to explore the profound integration of 5G applications and financial services, focusing on the utilization of 5G Messaging and 5G New Calling as exemplary applications. The ultimate goal was to facilitate the evolution of financial services from digitalization to intelligence, thereby better serving the development of the digital economy and enhancing people's well-being. This conference represents a premier event at the forefront of 5G Messaging and New Calling, with comprehensive coverage within the financial industry, establishing a highly influential platform that bridges the communications and financial sectors.
ZTE plays a crucial role in assisting operators in building advanced commercial 5G messaging and new calling networks. Ms. Cui Li, chief development officer of ZTE, stated, "The financial industry is at the forefront of digital transformation, and the emergence of 5G technology has further fueled innovation in the digitalization of financial services. ZTE is committed to becoming a Driver of Digital Economy, focusing on strengthening core competencies, driving continuous technological innovation and empowering industries and ecosystem partners. We leverage 5G technology to better serve the digital transformation of the financial industry. In terms of 5G messaging, ZTE's 5G Messaging platform currently serves 55% of subscribers nationwide. Through ZTE's openlab, we have established partnerships with over 70 entities and conducted more than 400 5G messaging application verifications. Regarding 5G New Calling, ZTE is the only vendor offering end-to-end solutions encompassing terminals, networks and applications. We have launched the world's first commercial terminal, enabling operators to lead pre-commercial operations. Additionally, we have collaborated with China UnionPay Data, China Pacific Insurance and ZENITERA to develop three exemplary applications in the banking, insurance and securities industries."
Currently, the integration between 5G and the financial industry is accelerating, and the integration of 5G new services and financial innovation based on 5G messaging and new calling is also deeply applied in various scenarios of the financial industry. In the keynote speech, Mr. Fu Guoqiang, an expert from the Technology and Standards Institute of the China Academy of Information and Communications Technology (CAICT) and deputy leader of the 5G message working group, shared the development status and future plans for new telecom services such as 5G Messaging and new calling from a policy perspective.
Mr. Hu Mingtao, general manager of the UnionPay Data Innovation Product Division; Mr. Hu Bing, general manager of the Technology Operation Division at China Pacific Insurance; and Mr. Zhuxing, CTO of ZENITERA, shared their experiences and innovative practices regarding 5G, 5G messaging and new calling in the banking, insurance and securities industries. Hu Bing expressed, "As a next-generation communication technology, 5G achieves profound applications in various technical fields through the convergence of AI, big data and cloud computing technologies. This promotes the comprehensive upgrade of the insurance industry's infrastructure system, shifting from traditional technology support to value creation."
During this forum, spearheaded by ZTE and supported by the Asian Financial Cooperation Alliance and DAHAN TRICOM, a collaborative initiative named the "Jin Ke Road Forum" was launched. This initiative involved ten entities, including the China Association of Communications Enterprises, China Telecom, China Mobile, China Unicom, ZENITERA and Suzhou Bank. The forum's objective is to maintain a sustained focus on financial technology innovation in China and Asia, particularly exploring the integration of 5G and finance. Additionally, the forum aims to foster the development and growth of the Alliance by promoting innovation and collaboration within the financial technology sector.
At the ceremony, Mr. Zhang Wanchun, ZTE's senior vice president, stated, "The integration of new 5G services and financial services will form a new ecological cooperation platform and industry alliance. We hope that industry partners can collaborate, leveraging their respective advantages, to create an open, cooperative and win-win industrial ecosystem. ZTE is committed to playing an active role in building a shared platform, aggregating innovation capabilities and creating benchmark applications."
Ms. Wang Lanfeng, chairman of the Asia Financial Cooperation Association, stated, "This year marks the tenth anniversary of the 'Belt and Road' initiative. After a decade of development, the 'Belt and Road' has emerged as an open and mutually beneficial international cooperation platform. China has taken a leading position globally in terms of 5G and financial digital transformation, serving as a demonstration for other regions. We will continue to promote cooperation among our international members and drive collective progress to accelerate the digital transformation of the finance industry."
Dr. Jordi, the technical director of the Polish Institute of Telecommunications and professor at Warsaw University of Technology, said in the video sent to the forum: "The use of 5G new calling and messaging technologies will bring more profits to the financial field and will promote service operation and contact with customers. We believe that the next-generation new calling and messaging services will probably become killer services in the 5G communication era."
Mr. Gao Bibu, chairman of DAHAN TRICOM, an integrated 5G messaging service provider, shared his insights and thoughts on the empowerment of the financial industry through 5G+AI. He emphasized that with the support of advanced network infrastructures such as 5G and 6G, coupled with advancements in artificial intelligence, blockchain, cloud computing, big data and edge computing, the emergence of a financial meta-universe is imminent. Mr. Gao expressed confidence in the success of financial services in this transformative landscape.
With the issuance of 5G licenses four years ago, China has successfully established the world's largest 5G mobile network. The upcoming phase will be pivotal for 5G applications and business deployment, as well as for the crucial digital financial transformation. The continuous development of 5G, alongside new services leveraging 5G messaging and new calling, will consistently serve as catalysts for the advancement and transformation of digital finance.