Nabil Bank signed Strategic Cooperation MOU with Huawei

Nabil Bank recently signed a strategic cooperation Memorandum of Understanding (MoU) with Huawei. This contract is signed to make Nabil bank a pure tech-eccentric bank. After 37 years of operation,  Nabil joined hands with Huawei to re-define and elevate the standards of customer-centric banking. Also, to an entirely new level by leveraging on top-notch state-of-art digital technologies.

By signing this contract both the companies agreed to create a fruitful partnership for strategic cooperation between each other. According to this contract, Huawei will now,  assist Nabil bank on digital transformation for different aspects. This digital aspect comprises of new digital banking, intelligent security system, intelligent banking flow, intelligent internal management, etc.

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The mutually beneficial contract:

With this mutually beneficial contract, Nabil bank will be able to lead the role in Nepal Modern Technology Bank. It will build an ecosystem that fulfills “Everywhere is Bank, Banking at anywhere”. So, for initiating this process, Huawei will utilize cutting-edge technologies to provide a smart and reliable service. Huawei expresses its commitment to providing Nabil Bank with the latest technology as well. It also stated to enable the innovative financial digital service and experience in Nepal.

This  MOU contract which discusses the cloud digitization services for Nabil Bank was signed by Mr Anil Shah, CEO of Nabil Bank and Mr. Deng Shuigen, CEO of Huawei Technologies Nepal. While signing this contract Mr. Cao Chong, President of Finance Service Business Section, Huawei Enterprise BG, and other representatives also participated as witnesses.  

“Huawei, on the other hand, has also expressed their full support and excitement to assist Nabil bank on digital transformation. As Cao Chong, President of Finance Service Business Section, Huawei Enterprise BG said: “This signing of MoU with Nabil Bank marks a further step towards our aim to provide digital solutions all over Nepal,”. 

Read: Huawei ranks 6th among the world’s most innovative companies.

Nabil and Huawei Partnership:

This grand partnership is strategically significant to unlock a wide range of collaborative opportunities to adding value to the Bank and its customers. Mr. Anil K. Shah, CEO of the Bank, stated that the extensive experience of Huawei in the digital transformation of various industries around the world would enable the bank to become a truly digital bank.

He further added saying that Nabil Bank has embarked on the digital transformation process with a mission to becoming the leading digital bank. So, it will be focusing on creating tremendous value for Nepalese citizens. They will also set up unprecedented benchmarks focused on superior customer experiences. He firmly believes that the strategic partnership would be an opportunity to learn and leverage the most advanced digital technologies. Moreover, it will deliver unparalleled customer service and experiences.

Huawei recently signed a similar kind of strategic agreement with Himalaya Airlines. We can assume Huawei to carry out such agreement with Nepalese Local firms for their digital transformation and cloudification.

Digitalizing through Cloud:

Moreover,  Huawei Nepal has established Cloud & AI local team from January 2020 in order to fulfill the company’s continuous effort to support local organizations on further developing their digital cloud capabilities. This will provide related services dedicatedly only for local government, enterprises, and carriers.

Cloud services have become a very integral part of businesses and companies in today’s era. Where, the recent studies of Nepal’s Enterprise IT Services, 74% of 11 industries (media, entertainment, airlines, general retail, e-commerce, and etc.) have chosen cloud service as the tool to digitalize their IT service. Choosing the Cloud reduced high equipment investment, avoided complicated maintenance, and ensured service reliability to their companies.