三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Technology, innovation boost financial inclusion in China

By Jiang Xueqing | China Daily | Updated: 2019-08-06 09:13
Share
Share - WeChat
An online store owner applies for a loan through a MYBank mobile phone app in Jingdezhen, Jiangxi province. [Photo provided to China Daily]

An industrywide consensus to develop financial inclusion in China with a greater reliance on available technologies has been reached, financial service professionals and experts said.

Zeng Gang, deputy director of the National Institution for Finance and Development, said digital driven innovation will become the most important way of developing financial inclusion, which means making financial services accessible and affordable to all individuals and businesses, regardless of net worth and size.

"China will continue to deepen digital financial inclusion, which will restructure traditional financial models and become a direction of business transition for financial institutions. Digital financial inclusion will bring changes to financial concepts and the organizational structure of financial institutions, restructure their business procedures, and improve their data integration capability and technical skills," said Zeng in delivering a report at the second China financial inclusion innovation and development summit recently held by People's Daily.

To improve financial inclusion, commercial banks must rely on technologies and data to lower management costs and increase operational efficiency.

As a result, banks must enhance their capability in big data integration, said Liu Guiping, president of China Construction Bank Corp.

"We should make an overall plan for enterprise data collection, storage, analysis and application, build a data-driven procedure covering the front, middle and back offices of banks, manage and control the collection, identification, processing and desensitization of data throughout the entire process, and promote the standardization and visualization of data," said Liu.

He highlighted the importance of extracting key data on the development of financial inclusion for banks to maximize product design, enhance customer acquisition capability, improve financial services, and cultivate competitive advantages.

Compared with banks, financial institutions which have a shorter history and less resources will dig deeper into the nonfinancial data of potential customers, such as those collected legally by telecom operators and travel information provided by other business partners so they can explore modeling based on this kind of data, said Chen Haitang, chief business officer of Merchants Union Consumer Finance Co Ltd.

"Nonfinancial data are not directly related to financial services, so we need multidimensional data to produce a representation or simulation for these customers, and we must constantly upgrade the model we created. As we keep expanding our customer network to smaller cities and rural areas, the further we go, the more nonfinancial data we explore to have a clear view of our customers," said Chen.

He stressed the necessity for companies to operate with a data-driven mindset and reiterated the industrywide reliance on financial technologies such as artificial intelligence, big data, cloud computing and blockchain.

By constructing their skills in machine learning and risks, companies are able to attempt to minimize fraud. Merchants Union Consumer Finance, a licensed consumer finance company headquartered in Shenzhen, Guangdong province, has tried to do so.

Company data showed that out of 1 million loan applications it has received, only one case of fraud has occurred.

The company is also using technologies to reduce labor costs. More than 95 percent of its customer service is now delivered by robots. It is estimated that with artificial intelligence, the company will save more than 40 million yuan ($5.8 million) a year by using robots for debt collection, in a scenario where it collected debts of 100,000 individuals and businesses per day on average.

With the adoption of technologies, Ping An Puhui lowered its operating costs by 58 percent compared with the level of five years ago. The company is a unit of Ping An Insurance Group which specializes in small business financing and consumer finance.

"Using technical means including facial recognition, micro-expression recognition and voiceprint recognition, we have not only improved risk analysis but also lowered costs and enhanced customer experience," said Ni Rongqing, vice-president of Ping An Puhui.

Before these biometric recognition instruments were introduced, a customer had to submit many documents to apply for a loan during a face-to-face interview at the counter of a financial institution. Now, the once complicated procedure of loan application and approval can be done remotely, Ni said.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 国产免费破外女真实出血视频 | 一级一级毛片 | 亚洲国产成人精品激情 | 欧美日韩亚洲一区二区精品 | 国产亚洲视频在线观看 | 免费一级黄色录像 | 国产精品拍拍拍福利在线观看 | 免费三级黄色片 | 国产羞羞事1000部在线观看 | 嫩草免费视频 | 极品欧美人体xxxx图片 | 韩国特黄色免费 | 爱色视频 | 韩国尤物主播性视频在线播放 | 网址在线观看 | 国产成人a大片大片在线播放 | 欧美日韩大片在线观看 | 精品哟哟哟国产在线观看不卡 | 国产久视频观看 | 午夜国产福利视频 | 亚洲欧美视频一区二区三区 | 久久久精品成人免费看 | 亚洲一区免费在线观看 | 日韩亚洲欧美视频 | 亚洲日日| 国产91色拍 | 伊人久久青草青青综合 | 男人黄女人色视频在线观看 | 亚洲国产成人精品激情 | 亚洲精品一区二区三区四区 | 成人特黄午夜性a一级毛片 成人爱av18丰满 | 日本免费人成黄页网观看视频 | 日本乱人伦毛片 | 精品国产电影网久久久久婷婷 | 黄色在线观看网址 | 成人免费高清视频网址 | 国产一级久久免费特黄 | 男人都懂的www网站免费观看 | 中文字幕无线码欧美成人 | 免费视频爱爱太爽了 | 青草视频在线观看视频 |