Huawei to Launch Innovation Lab in Finland to Solve Key Issues in Digital Finance

Huawei will be launching a Digital Finance and Security Innovation Lab (Fin²Sec) this month. A product of a unique collaboration between Huawei’s regional Ecosystem Development business and its R&D centre in Finland, the lab aims to address the requirement for banking, finance and, payment services in Europe to go digital.

The inauguration ceremony for the lab will be held in Helsinki, Finland on September 28, and delegates will be invited to attend morning presentations. Later in the day, they will also have the opportunity to visit the Innovation Lab.

This will be done by focusing on supporting and facilitating the financial services sector through innovative technology solutions that improve customer experience. Huawei aims to make improvements to payment processes across all mediums – personal, home, and organization – in order to encourage a healthy and accessible financial life.

Huawei is working closely with Aalto University for this and has invited the involvement of pan-European banks, FinTechs, and industry associations.

This isn’t the first time Huawei is making such a move as similar projects previously launched by Huawei have sparkled quite an innovation. A well-known example of this is Huawei’s Digital Car Key feature that is based on an NFC-based app. It allows drivers to lock or unlock their car and start it using their smartphone.

Adam Rybusiewicz, Director of Financial Vertical Eco-Development and Partnerships for CEE, Nordics and Turkey at Huawei Consumer Business Group says that we will continue to struggle at making digital services and products mainstream unless we work together to strengthen the financial ecosystem. “The purpose of the Lab is to generate not just new concepts, but to share experiences and challenges, and foster successful initiatives or business models that can be emulated across the finance, banking and payments sector,” he says.

The new Huawei Innovation Lab for Digital Finance and Security in Helsinki is just another addition to the Chinese company’s existing fourteen R&D centers set up in Germany, Sweden, Russia, India, and China. Huawei’s products and services are available in more than 170 countries and are used by a third of the world’s population.

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