KPMG recently released its 2023 1023 Double 50 China Fintech Companies List and Annual Trend Report. According to the report, Sichuan's financial technology development level has outstanding advantages in the western region, and as a leader and innovation highland of financial technology in the western region, Chengdu's high-quality and efficient financial technology development has attracted wide attention.
Stephen Cheung, Vice Chairman and Head of Finance, Asia Pacific and China, KPMG China, says the booming digital economy has provided favourable conditions for fintech innovation. Many well-known universities have provided a large number of fintech talents for the industry, and Chengdu, as the core node and communication hub of the national network, provides a complete infrastructure for the development of the industry.
What are the latest trends in fintech? According to the report, the development of financial models will have a profound impact on the paradigm of the fintech industry. In the future, the wide application of financial models will have a disruptive impact on the current industry paradigm in the following ways, including the transformation of AI cognition and concepts, the reshaping of customer service processes and experience, the improvement of risk management, the improvement of financial service efficiency, and the innovation of financial business forms.
The explosive development of AIGC (generative artificial intelligence) has brought a huge space for imagination to the financial industry. It is expected that with the maturity of AIGC technology, wealth management institutions will explore more application scenarios of large models to improve efficiency and service upgrades. At the same time, AIGC still needs to be cautious in providing investment advice directly to clients due to unclear regulations and issues such as data security and data privacy. The development of RegTech will increasingly rely on technology to achieve more efficient and precise supervision, and the development of RegTech will also promote fintech innovation.
In addition, in addition to providing customers with payment services, the cross-border payment platform also provides services such as foreign exchange exchange, enterprise foreign exchange risk management, as well as platform store opening, global acquiring, overseas marketing, **chain financing and other services, providing customers with comprehensive services to enhance customer viscosity.
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