Bank of Communications

Builds a Lakehouse DaaS Platform for High-Quality Development

Background

Founded in 1908, the Bank of Communications is one of the oldest banks in China and one of the only banks in modern China to have the authority to issue banknotes. It reopened after a reorganization on April 1, 1987, and, with its head office in Shanghai, it is the first nationwide state-owned joint-stock commercial bank in China. The bank was listed on the Hong Kong Stock Exchange in June 2005 and on the Shanghai Stock Exchange in May 2007. Its services include commercial banking, financial leasing, investment services, fiduciary and trust services, insurance, offshore securities, debt-for-equity swaps, and offshore financial services. The bank is committed to becoming a first-class international bank with remarkable advantages in international businesses, advanced operations and management level, and delivery of global financial services. To achieve this goal, they are constantly undergoing digital transformation for high-quality development.

Challenges

  • High Requirements

    •Greater computing power needed to cope with big data

    •More real-time needs

  • Complicated Data

    •Unstructured data

    •Many external data sources

  • Poor Data Sharing

    •Data support needed for all businesses

    •Data silos

  • Lack of Data Governance

    •Poor data quality

    •Inability to consolidate data assets

Solutions

Bank of Communications has seen their business grow fast, their services grow more diverse, and their processes more intelligent. However, the rapid growth and better intelligence have come with an unprecedented amount of data and introduced more complicated ways to make use of that data. To maximize the value of their data, Bank of Communications leveraged Huawei Cloud Stack to establish a lakehouse data as a service (DaaS) platform.

The platform has the following highlights:

Huawei Cloud Stack FusionInsight MRS was used to deploy a cloud-native data lake. Its real-time and batch data access enable the data lake to ingest unstructured data. It has become a unified data foundation to aggregate data across our entire group. Using the real-time data lake of FusionInsight MRS, Bank of Communications has developed new tech advances such as real-time collection and computing and integrated batch and stream processing to collect, calculate, analyze, and use data in real time. A wide range of real-time and quasi-real-time business scenarios have been covered.

Using Huawei Cloud GaussDB (DWS), a distributed data warehouse product, Bank of Communications has established a unified view delivering better insights into business of the entire bank and created a comprehensive data analytics system. This system helps them make more informed business decisions, maximize data value, improve efficiency, and cut costs.

Bank of Communications has standardized data security and lifecycle management and established an integrated R&D management and control platform. This enables data development, testing, and maintenance to be performed on a single, unified platform.

Benefits

  • Precision marketing: Customer profiling makes it easier to reach ideal customers. The customer conversion rate has been increased by 164%.

  • Comprehensive risk control: User behavior can be analyzed for suspicious activities in real time, which has reduced the number of risky incidents by 52%.

  • Intelligent operations: Banking data can be searched and analyzed in real time to enable faster decision making.

  • Efficient decision-making: Statistics on the overall business performance, inter-industry comparisons, real-time positions, and real-time changes are at the fingertips of executives to help them make the right decisions.

Bank of Communications chose Huawei Cloud Stack's lakehouse solution, which provides data lakes, model integration, and data marts. The solution has delivered incredible benefits to us. It has helped us deliver agile and accurate data to downstream applications. Its one-stop data analytics, including batch data warehouses, data exploration, and data marts, help us take less time to process massive volumes of data. Its distributed structure of data warehouses and data lakes enables elastic resource management and on-demand scaling. Plus, the fully parallel, multi-level computing engine of DWS provides high-performance computing using multi-core resources, which guarantees data promptness in critical usages. What's more, Huawei Cloud Stack's professional migration tool provides automated logic conversion and performance tuning to help us efficiently migrate data from our original platform powered by Teradata to the Huawei Cloud data warehouse platform.

Tong Huia senior manager of the Software Development Center of Bank of Communications


Tong Hui
a senior manager of the Software Development Center of Bank of Communications

Bank of Communications chose Huawei Cloud Stack's lakehouse solution, which provides data lakes, model integration, and data marts. The solution has delivered incredible benefits to us. It has helped us deliver agile and accurate data to downstream applications. Its one-stop data analytics, including batch data warehouses, data exploration, and data marts, help us take less time to process massive volumes of data. Its distributed structure of data warehouses and data lakes enables elastic resource management and on-demand scaling. Plus, the fully parallel, multi-level computing engine of DWS provides high-performance computing using multi-core resources, which guarantees data promptness in critical usages. What's more, Huawei Cloud Stack's professional migration tool provides automated logic conversion and performance tuning to help us efficiently migrate data from our original platform powered by Teradata to the Huawei Cloud data warehouse platform.