SINGAPORE, Oct. 27, 2014 /PRNewswire/ — In recognition of its innovative UC solutions and services in the banking sector, Huawei was the recipient of the 2014 Frost & Sullivan Asia Pacific Banking Industry Unified Communication Solutions Product Innovation Leadership Award. The company was honoured at the 2014 Frost & Sullivan Asia Pacific Best Practices Awards held on the 16th of October at the Marina Bay Sands Expo and Convention Centre, Singapore.

This Frost & Sullivan Product Innovation Leadership Award is presented each year to the company that has successfully assessed and met the needs of the market to deliver the most innovative products, services and solutions in the video collaboration market.

To develop and enhance the banking experience, it was vital to introduce technology such as the Virtual Teller Machine (VTM) and infrastructure products such as Virtual Teller Center (VTC) and Virtual Teller Agent (VTA). These provided customers with real-time, face-to-face video access to live tellers to fulfill transactions, creating a familiar experience.

"Huawei is one of the pioneer vendors in developing and implementing the VTM (Virtual Teller Machine) solution in China. The innovation pushes the limits of technology and design to create an effective and efficient way of engaging with customers for bank branches. The solution has been successfully adopted by a few large state-owned and commercial banks in China. It is expected to expand the customer reach of banks in other countries in the near future," said Jessie Yu, Industry Manager, Unified Communication and Collaboration, ICT, Frost & Sullivan Asia Pacific.

In a highly competitive market and together with its strategic expansion into enterprise business, Huawei has also initiated key partnerships with industry-specific system integrators such as GRGbanking, resulting in the development of remote banking solutions – VTM, which have gained popularity.

Since their introduction in 2012, Huawei’s VTM solutions have been deployed in over 15 state-owned and commercial banks such as Agriculture Bank, Bank of China, Construction Bank, Ping An Bank, Bank of Kunlun and Bank of Lanzhou.

One of the key differentiator of Huawei’s VTM solution is its software-based video endpoint. In addition to its competitive pricing reducing the overall cost of the machines, it also offers operational cost savings as the bandwidth requirement is lower as compared to hardware solutions. Furthermore, the hardware video endpoint can be included in Huawei VTM solution.

As part of its commitment to providing the complete customer solution, Huawei has also developed and introduced a host of software applications to monitor the operation of its VTMs including bandwidth allocation and control, energy consumption and so on which further assists the customer in managing the VTM machine more efficiently.

The 2014 Frost & Sullivan Asia Pacific Best Practices Awards recognize companies across industries commending their diligence, commitment, and innovative business strategies required to advance in the global marketplace.

Frost & Sullivan identifies the outstanding industry achievements in the past year by companies in the local and regional markets through its in-depth analysis and coverage of these industries. In keeping with Frost & Sullivan’s time-honoured commitment in pursuit of excellence and innovation, the awards offered are carefully reviewed and evaluated to reflect the current market landscape and include new emerging sectors.

For more details on the 2014 Frost & Sullivan Asia Pacific Best Practices Awards, please visit  http://www.apacbp-awards.com/.

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