As an important tool to connect supply and consumption, payment and credit, the credit card industry must not only arm itself with stronger scientific and technological capabilities, but also make precise efforts in key areas and weak links.
Xin Finance. Hong Ruoxin, Yi Leiwen
At the beginning of 2024, another leading credit card center announced the completion of core system upgrades.
At the beginning of January, the new generation of localized core system of GF Credit Card was successfully put into production. According to official information, the system adopts a distributed, nationally produced technical architecture, which can support more than 10,000 financial transactions and more than 150,000 seconds of concurrent processing of non-financial transactions, which can also support the horizontal expansion of business capacity and processing performance.
In other words, whether in terms of security, availability, intelligence or agility, the upgraded GF credit card core system can provide better support for business development.
Not only GF Credit Card, but also many credit card centers have been accelerating in the past few years, represented by large state-owned banks and leading stock banksTo meet the requirements of independent innovation as the core, to build a digital native architecture as the symbolcore system upgrades.
Behind the collective actions of market participants is the acceleration of the digital transformation of the credit card industry, which urgently needs to be reshaped in the face of increasingly diverse and complex customer needs and the market environment in the stock era.
CICC mentioned in a report titled "Data Elements Driven by New Digital Banking Models".In the era of digital economy, data has become a new factor of production, and financial institutions should make good use of data productivity to provide good customer service and growth.
From channel migration to product capability building, to full-life cycle operations including marketing, risk control, and integrated services, every step of credit card service advancement requires stronger digital service capabilities to support itA solid foundation of digital technology and in-depth collaboration with business scenarios are indispensable.
More importantly, as the first economic conference clearly put forward that financial institutions should do a good job in science and technology finance, green finance, inclusive finance, pension finance, and digital finance, as an important tool to connect supply and consumption, payment and credit, the credit card industry should not only arm itself with stronger scientific and technological capabilities, but also make precise efforts in key areas and weak links.
From the perspective of GF Credit Card's practice, the digital capabilities of the whole domain, the whole process and the whole life cycle have enabled it to achieve real high-quality development in the new market environment, while meeting the needs of the new normal of financial services, improving service quality and customer experience, and achieving further improvement of its own business sustainability.
In the past few years, as the growth rate of the world's major economies has continued to slow, geopolitical conflicts have continued, coupled with the impact of new technological developments such as artificial intelligence, black swans and gray rhinos coexist, and financial markets are facing the challenge of VUCA (volatility, uncertainty, complexity, ambiguity).
Specific to the credit card industry, although the core system based on the IOE architecture (note: a data processing architecture built on IBM minicomputer + Oracle data + ECM storage device) is running stably, it is increasingly difficult to support market participants to cope with the challenges caused by the intertwining of multiple pressures.
For example,In the context of practicing the development route of national independent and controllable financial technology, building a more safe and reliable China chip is an inevitable choice for the upgrade of the core system of credit cards.
Taking the upgraded core system of GF Credit Card as an example, it adopts a distributed, full-stack localization technical architecture, and ensures user experience and transaction security through the deployment mode of two cities and three centers and unitized fault isolation technology.
The panoramic monitoring system can provide early warning of ongoing problems and potential system risks, and use automated operation and maintenance tools to achieve fault isolation, emergency response, cause investigation and emergency recovery in a short time. Of course, the intrinsic needs of the development of the industry cannot be ignored.
With the advent of the era of credit card stock, on the one hand, the market dividend period is gone, and on the other hand, the reality of weak consumption power still exists, and the key to breaking the credit card industry is to achieve refined operation by digital and intelligent means.
From the perspective of the core system architecture of GF Credit Card, it deconstructs and reconstructs the credit card businessThe core system is divided into six service sections, including card issuance, quota, installment, authorization, accounting and publicOn the basis of giving full play to the advantages of cloud native low cost, high availability, flexibility and agility, the system performance is further improved through a reasonable division of labor, injecting new momentum into refined operations.
in the form of the trading layer, the account layer and the product layerThree-tier pricing structure designFor example, unlike in the past, when customers could only enjoy a fixed credit line and ** in a fixed account, under the new core system, when customers trigger different services in different scenarios and times, GF Credit Card can achieve faster capital accounting and pricing, and extreme refinement of quantitative.
In other words, the upgraded core system will not only provide customers with a better experience, but will also further enhance the business sustainability of GF Credit Card.
Core system upgrade is a key step in the digital transformation and upgrading process of credit cards.
Judging from the practice of GF Credit Card, its digital exploration in the fields of marketing, customer acquisition, and risk control has begun earlier, moving from small-scale testing to global application, and from peripheral optimization to core system remodeling.
With the completion of the core system, which is an important piece of the puzzle, GF Credit Card has been builtIt is a digital organism and technology base with the data layer as the blood, the intelligent middle platform as the decision-making center and command brain, the digital intelligence product as the characteristic service, and the scene access as the starting point for customer expansion.
At present, the quantity and quality of data are increasingly becoming the key to building core competitiveness. Especially at the critical stage when the market is accelerating towards customer-centricity, data mining and application around the whole customer journey is a prerequisite for institutions to gain insight into market demand and improve customer experience.
To this end,GF Credit Card has established a one-stop data management solution from collection, processing, management and development, as well as a data evaluation system around the whole customer journey, as well as multiple data processing and application platforms.
Up to now, the big data layer has output a total of 6,800+ effective business tags, which can provide comprehensive and efficient data capabilities for upper-layer application decision-making.
On the basis of a solid data foundation, GF Credit Card further provides standardized, reusable and orchestrated service capabilities through the construction of an intelligent middle platform, covering the four major systems of marketing, service, risk control and operation, maximizing the breadth and depth of data productivity.
Taking smart marketing as an example, based on data mining of a large number of users with different life cycles and different application scenariosIt realizes the data-driven formation of customer panoramic label portraits, and realizes the interconnection of internal and external channelsIn order to truly realize the refined operation of "thousands of people, thousands of faces, one customer and one policy", intelligent decision-making support is output.
In order to better promote the implementation of the strategy, GF Credit Card also relies on the intelligent middle platformIntegrate AI capabilities into every step of the customer lifecycleFor example, outbound call robots, virtual digital humans, intelligent assistance, etc., covering major business lines and different subdivision scenarios such as credit review, customer service, and collection.
These products can not only greatly reduce costs and increase efficiency through new technology empowerment, but also the accumulated corpus can be fed back into business optimization.
For example, based on the intelligent voice cloud, e-commerce, customer service, and collection services have reached quasi-real-time text translation efficiency, from which card centers can continuously explore opportunities for business improvement.
Finally, at the reach layer of direct interaction with customers, which is also the most critical link from traffic to retention, GF Credit Card has created differentiated tools and methods.
On the one hand, GF Credit has empowered front-line marketers through its online and offline collaborative business development tool, and has continued to introduce comprehensive services such as insurance, automobile installment, and installment to enhance its attractiveness, and has issued more than 11 million cards so far.
On the other hand, GF Credit Card is also one of the earliest institutions to pay attention to the operation of private domain traffic, and the "Yang Xiaofa" platform created by it provides customers with one-stop services through the enterprise WeChat ecosystem, especially through data analysis, customers with different preferences are targeted to different segments of the community, so as to improve customer operation effects such as drainage, conversion, and fission.
In the current market environment, the entire credit card market has never felt the pain of market changes so deeply, and has never been so urgent to promote stock management and intensive cultivation. This is an inevitable choice to embrace the digital age, and it is also an important step to maintain growth in the new environment.