Innovate the "technology flow" evaluation system, "don't look at the bricks to see the patents, don't look at the capital to look at the intellectual capital";Through digital yuan shopping, bill payment, subway rides, etc., the application scenarios are constantly enrichedEmbed financial services into various consumer Internet and industrial Internet platforms to build an open and win-win digital financial ecosystemThrough the satellite remote sensing system, the crop planting portrait is established to accurately solve the demand for collection and storage funds for tea enterprisesThis is a digital picture of surging innovation, and it is also a ubiquitous and inclusive digital financial service in the new era.
The first financial work conference held a few days ago proposed to do a good job in science and technology finance, green finance, inclusive finance, pension finance, and digital finance. The interviewed experts generally believe that the steady development of financial technology and the acceleration of the digital transformation of financial institutions have become a new engine for China's high-quality development. To this end, banks, insurance and other financial institutions have devoted themselves to the construction of "Digital China", deeply cultivated the field of digital finance, and built digital scenarios through artificial intelligence, blockchain, cloud computing and other technologies, so as to make financial services more accurate and warm, and inject new financial momentum into the promotion of Chinese-style modernization through digitalization.
Promote the high-quality development of the digital economy
From industrial production lines to people's food, entertainment, housing and transportation, digitalization is infiltrating every bit of life like water and electricity, changing all aspects of production, injecting new momentum into the development of all walks of life, and becoming a new engine for high-quality economic and social development. In the digital age, digital transformation is not a choice question for the financial industry, but a must for all financial institutions.
According to the latest annual reports of commercial banks, the Industrial and Commercial Bank of China, China Construction Bank, and Agricultural Bank of China have invested more than 20 billion yuan in financial technology, and some joint-stock banks have increased their investment significantly, and small and medium-sized banks are also embracing digital finance in various ways.
Du Yang, a researcher at the Bank of China, said that the first financial work conference put forward five major financial articles to point out the direction for financial support for the development of the real economy. Among them, digital finance mainly refers to the application of financial technology means such as big data, blockchain, and artificial intelligence to financial products and financial services.
In accordance with the "14th Five-Year Plan" deployment of the People's Bank of China, the "Fintech Development Plan (2022-2025)" clearly proposes to "grasp the new trend of digital economy development, give full play to the multiplication role of data elements, inject digital elements into the whole process of financial services, run digital thinking through the whole chain of business operations, strengthen the scientific and technological armament and data support of financial innovation, accelerate the pace of financial digital transformation, and comprehensively enhance the comprehensive strength and competitiveness of China's financial industry".
Du Yang believes that the importance of digital finance is reflected in the following five aspects: First, digital finance can effectively improve the user experience. Through the Internet and mobile technology, users can use a variety of financial services anytime, anywhere, without having to go to offline outlets;Second, digital finance reduces financial transaction costs through automation and modernization, so that financial institutions can have more space to benefit the real economyThird, digital finance has promoted the innovation and development of the financial industry. Through blockchain, artificial intelligence, big data analysis and other financial technology means, we continue to promote the innovation of financial products and services, which will help improve efficiency and reduce financial risksFourth, digital finance can help improve the inclusiveness and people's nature of financial services. Digital financial services enable long-tail customers such as small and micro enterprises to obtain financial support more conveniently and meet their financing needs, which is crucial for the development of inclusive finance in ChinaFifth, digital financial technology can improve the ability of risk management. Through real-time monitoring and big data analytics, financial institutions are better able to identify and manage risks.
Explore new models and new ecosystems of digital services
Digital technology is the cornerstone of the development of the digital economy. How to adapt and integrate digital technology with new business formats such as scenario-based, inclusive, fragmented, and long-tail is the main content of the current development of digital finance.
In recent years, China has achieved remarkable results in the development of digital finance, and mobile payment, digital credit, convenience services and other fields have been improved to varying degrees.
Now claims are online, which is fast and convenient. Mr. Wu from Wenzhou uploaded his traffic accident claim data to the Chinese Life Property Insurance "All the Way" air intelligent compensation platform through online operation, and received the claim payment on the same day. Chinese Life strives to solve the problem of slow and difficult claim settlement, optimizes the claim process, and strives to make the claim service more efficient, faster and better quality. At present, the relevant person in charge of Chinese Life Insurance Company said that the company's overall claim service timeliness is 0In 39 days, the year-on-year increase was 17%, and the intelligent handling of claims cases exceeded 7.1 million, and the intelligent rate of claims settlement exceeded 70%.
If "Digital Fujian" has injected scientific and technological innovation genes into IB, then "Digital China" has opened the second development curve for IB. According to a relevant person of IB, IB regards digital transformation as a battle of life and death, promotes the whole bank to change its concept, promote reform, increase investment, strengthen talents, consolidate the foundation, build platforms, build scenarios, and expand the ecology, and actively "builds the ability to connect everything and build the best ecologically empowered bank". Over the past 35 years since its establishment, IB has developed nearly 7,000 scientific and technological talents, with an annual investment of more than 8 billion yuan.
In recent years, the scale of digital convenience payment has surpassed that of offline payment, and has gradually developed into the main payment method. From 2018 to 2022, the digitalization of convenient payment has continued to deepen, and the proportion of online payment has increased from 50% to 76%.
As a typical representative of Everbright Group and Everbright Bank in the field of livelihood services, "Everbright Cloud Payment" has made every effort to solve the people's urgent and long-awaited living payment problems, focusing on individuals, enterprises and government affairs, and providing in-depth services for various scenarios such as water, electricity, gas, non-tax, social security, medical care, education and transportation, and has gradually built a digital, open and intelligent convenient service ecosystem. In 2022, there will be more than 150,000 items, with an annual service of 5 active users800 million households, with more than 2.5 billion payments, continuing to maintain the leading edge in the industry.
Industry insiders said that digital finance, as a new form of business formed by the deep integration of digital technology and financial services, has had a far-reaching impact on the financial field. The model of digital finance reshapes the relationship between the supply side and the demand side, with capital as the link, win-win cooperation as the goal, and the complementary development of finance and industry as the premise, taking into account the short-term interests and long-term returns of both parties. This model better matches the capital needs of industrial transformation and upgrading, and provides a more convenient channel for exchanges and transactions between enterprises.
Strengthen product risk assessment
Although digital finance brings many opportunities for the development of the industry, it also faces some challenges. Xing Wei, Secretary of the Party Committee and full-time vice president of the China Banking Association, said at the 7th China Digital Banking Forum that at present, digital transformation and digital finance have entered a stage of rapid development, and the banking industry should continuously strengthen the awareness of digital security from the perspective of the overall development of the industry and improve the ability to prevent and resolve new financial risks. On the one hand, the banking industry should strengthen the risk assessment of new digital products, new services and new businesses, improve comprehensive risk prevention and control capabilities, realize the transformation from extensive management to precise risk prevention and control in advance, and establish an early warning and prevention mechanism for risksOn the other hand, it is necessary to continuously improve the data security management architecture, improve internal compliance requirements, improve the level of data security assurance, and do a good job in data hierarchical and classified management and user privacy protection.
Du Yang pointed out that in order to ensure the steady development of digital finance, it is necessary to focus on the following risks and take corresponding preventive measures: First, cyber security risks. Since digital finance is highly dependent on the internet and information technology, cybersecurity issues can lead to user data breaches, financial fraud, and more. It is necessary to adopt enhanced encryption technology, multi-level network security defense system, real-time monitoring and other means to improve the security of digital financial servicesThe second is the risk of fraud. Criminals may use digital financial platforms to conduct fake transactions, identity theft, and other activities. Strong authentication mechanisms, anti-fraud algorithms, and real-time monitoring of suspicious activity are needed to prevent fraud risksThe third is the risk of the first chain. For the financial industry, the new financial business forms are increasingly dependent on key core technologies, and once there is a problem in a certain link of the first chain, it will have a significant impact on the security of banks and even the entire financial system. Therefore, it is necessary to plan a variety of alternative technical solutions in advance and build a safe and controllable first-class chain systemFourth, business cross-cutting risks. Under the process of digitalization, the cross-integration of multiple businesses in the financial industry leads to the characteristics of multi-chain, cross-market and cross-industry risks, and it is necessary to avoid the possibility that local risks may be transmitted through each link and then evolve into systemic risks.
As a practitioner of the development concept of "Digital, Platform, Ecology and Empowerment", CCB has continuously promoted the deep integration of the digital economy and the real economy, and guided the new financial water to accurately drip irrigate the real economy. (Dong Xiao).