Industrial Bank Awarded “Financial Technology Innovation Enterprise” Reward

On June 10, the “2017 SCI-TECH FINANCE DEVELOPMENT FORUM”, organized by “21st Century Business Herald”, was held in Shanghai with the theme of “Building a New Ecology of Compliance and Innovation”. In the forum, as the list of “2017 Golden Navigator for SCI-TECH Finance” was announced, Industrial Bank (IB) was granted the “Financial Technology Innovation Enterprise” award.

In order to support business efficiency and innovation, IB has long adhered to the strategy of "driven by science and technology", which effectively guarantees the consistent value of business and technology and deeply combines each other. IB is one of the few banks capable of independently researching and developing a core banking system, and is the only one that exports core banking service capability. At present, it supports the core business operation of about 300 domestic small and medium-sized banks and has formed a bank-to-bank ecological service system covering payment and settlement, science and technology output, wealth management, capital application, financing services, agency international settlements, training and communication as well as economic research and consultation. By the end of 2016, the number of networked financial institutions of IB has reached 784; nearly 200 agent village banks have been connected to the modern payment system; the number of outlets has reached 46 thousand, with settlements of over RMB 3 trillion; sales volume of wealth management products has exceeded RMB 1.9 trillion.

As indicated in this forum, “technology and financial development will shift from groundbreaking changes to win-win”. IB is fully aware of the key role of technology in future financial services, and further proposed to transform the information technology from a role of supporter to a role that leads the business development and promotes changes of operation mode. In 2015, by learning from the Internet company's operation mode, IB took the lead in establishing its financial technology subsidiary - Industrial Bank Digital Finance Services Co., Ltd. which now becomes its main platform for fintech innovation. In 2016, IB established an artificial intelligence financial application laboratory, actively explored the machine learning, advanced data analysis and other cutting-edge technology applications, and actively built big data intelligent cloud platform. And it also made numerous innovations in precise marketing, intelligent risk control and etc. For example, “Gold Eye”, an intelligent risk control product, can accurately forecast more than RMB 15 billion of abnormal loan. Another investment consultation product, named “Xing Financial Intelligence”, can help rationalize and simplify the financial investment of individual clients driven by big data, so as to strongly support inclusive finance. In 2016, IB set up a block chain research team, and successful developed and released the security platform of block chain. At present, the platform has been applied to contract security and note witness and custody business, and has gained widespread attention and praise in the banking industry.

In recent years, with the strategy of “driven by science and technology”, IB has further developed the comprehensive operation, furthered its path to transformation and innovation, agilely seize every market opportunity and exploited its “blue sea” to walk on a path of IB-featured and differentiated development. Now IB is a modern comprehensive financial service group featuring the total asset of over RMB 6 trillion, annual net profit of over RMB 50 billion, over 50,000 employees and one of Fortune 500 companies, and becomes a domestic shareholding commercial bank with the largest asset scale.

"In the future, IB will increasingly focus on the integration and innovation of finance and technology in order to meet the increasingly diversified and individualized demands of clients in a more efficient and friendly manner, and steadily push forward in this era of groundbreaking innovation." said Fu Xiaoyang, the general manager of information technology department of IB.