Economic Observer Network Hu Qun/Text The ecology of the banking industry is being rapidly reconstructed.
On the C-side, the trend of diversification, differentiation, and personalization in the consumer market has become more prominent. The "long tail effect" and the "superstar effect" have appeared at the same time. The efficiency of consumer goods transactions has been greatly improved, and consumption platforms have become more and more popular. Scenarioization has become a trend, but banks are not good at platformization and scenarioization; on the B side, with the optimization and upgrading of network infrastructure, artificial intelligence application scenarios are rapidly expanding, and "Internet +" and "Smart +" are connecting industries Downstream enterprises and individuals and equipment within the enterprise are reconstructing the business chain and industrial chain of traditional enterprises. The second half of the Internet with the industrial Internet as the core has begun. The digital economy has become a key driving force for the transformation and upgrading of traditional industries. However, banks At present, it has not yet fully intervened in the business chain and industrial chain of enterprises; on the financial supervision side, in response to the new situation of financial technology innovation and development, my country's financial management departments have comprehensively improved regulatory efficiency, such as creating an inclusive and prudent innovation supervision mechanism and conducting orderly supervision of financial technology innovation. pilot and accelerate the improvement of the financial technology regulatory framework.
"(Banks) in the future ecosystem, the most important thing is to cooperate with all parties." On November 25, Brett King, author of "BANK 4.0", spoke at the 2020 JD Global Technology Explorer Conference Shang said that in the emerging ecosystem, cooperation with other players is absolutely necessary, and digitization must be achieved if it is to survive and play a role in the future ecosystem. In the future, the functions of the banking industry will be realized through technological capabilities. Banks should actively establish cooperation with technology giants such as BAT, GAFA and FAANG, as well as some pure technology start-ups that have developed professional technologies and artificial intelligence, and even cooperate with companies in this regard. Cooperate with China’s Huawei and other companies with rich experience.
In fact, China has currently built an emerging financial ecosystem that Brett King understood. For example, China CITIC Bank’s new core credit card StarCard system, and Shanghai Pudong Development Bank took the lead in launching “API Bank Unbounded Open Banking” in the industry.
On November 24, Mu Yinfang, member of the Party Committee of China CITIC Bank Credit Card Center, said at the first anniversary salon of China CITIC Bank Credit Card StarCard new core system that when the new core system was migrated, Jiang Rongxin, Changliang, Partners such as Tianyang, KPMG, and Red Hat Software took eight months to deliver four major versions and tens of thousands of function points. Since its launch, StarCard's new core system has successfully achieved "more stable, faster and more agile" performance improvements.
The latest data shows that the system has successfully hosted the operation and management of 110 million accounts, with an overall transaction success rate of 99.999%. It is the first in the industry to achieve five "9" high availability, with a peak transaction rate of 4,500 transactions/second. The average transaction response time is 36 milliseconds, effectively meeting the needs of high-frequency trading scenarios such as membership days, rush purchases, and marketing activities. At the same time, with the help of the agility of the whole process of the R&D system and the automation and intelligence of production and operation and maintenance, it is basically possible to release "zero-aware" financial products on a weekly basis, fully meeting the needs of rapid iteration of sensitive business.
"The new core system can be summed up in one sentence as 'born for connection'". Mu Yinfang said that banks realize the connection between industries. At present, the total number of open and built APIs has reached 30,00, and micro-services are 2,00. Based on the new core system of StarCard, CITIC Bank credit cards will be based on "1+N+" The model is customer-centric. Wherever the customer is, the system, services, and data are extended, integrated with different companies and partners, and pushed to N scenarios to create unlimited possibilities.
"Our bank's new core credit card StarCard system was successfully put into production in October 2019 and has been operating smoothly for more than a year. It has become my country's first new generation cloud architecture credit card core system with independent intellectual property rights. Obtaining this This important breakthrough is due to adhering to the business philosophy of 'unbounded openness' and working with industry chain partners to move towards a collaborative path of 'maximum innovation and maximum win'," said Zhang Ming, President of CITIC Bank's Credit Card Center. Credit cards will continue to increase investment in technology, drive business development through technological means, use digital technology as the driving force, create the "dual power" of finance and technology, and work with multiple partners to build a new ecosystem of digital finance.
In July 2018, Shanghai Pudong Development Bank launched "API Bank Unbounded Open Banking" to expand the connotation and extension of banking services, gather energy and empowerment in the open ecosystem, improve the quality and efficiency of financial service supply, and build Differentiated competitiveness and triggered an innovation boom in domestic open banking.
In order to be embedded in customers’ life and production scenarios, Shanghai Pudong Development Bank has explored in recent years to provide one-stop packaging solutions for B, C, G and F customers. Through deep integration with various partners through API, Shanghai Pudong Development Bank enters the service scenario of leading enterprises, improves B-end customer service capabilities, supports the rapid assembly of online financing, payment and settlement, agency collection and remittance, account custody and other banking business capabilities, and provides B-end customers with Establish a full ecosystem including financial services and non-financial services; based on the "Puhui Daojia APP", provide corporate customers with a customer management platform that reaches the C-end, establish a unique membership system, divert traffic to each other, and *** It also provides C-end customers with online services such as brand product sales, poverty alleviation, and local life. In the in-depth cooperation, all parties in the ecosystem release the superposition and multiplication effect through openness, sharing, cooperation and construction, and work together to create a comprehensive, one-stop financial service solution for C-end users. At the same time, Shanghai Pudong Development Bank has strengthened the in-depth integration of 5G+IoT with cloud computing, artificial intelligence, distributed, blockchain and other technologies, and gradually expanded from 5G smart outlets and other scenarios to realize customer journey experience and bank smart management, realizing physical and virtual objects. Replace people, build unbounded and ubiquitous intelligent financial services, and rely on digital twins to drive intelligent bank operations.
"In the past, financial services were mainly product-centric. Under the extreme division of labor in society, the efficiency of financial products and services has approached the optimal boundary." In September this year, Shanghai Pudong Development Bank and Huawei jointly released the "Bank of Things" The "White Paper" points out that structural changes in the consumer market and production market and the inherent requirements of economic entities to improve economic efficiency will drive financial institutions to carry out disruptive changes to improve service quality. Scenario-based pan-financial services are an important development direction for commercial banks in the future.
“Commercial banks should give full play to their advantages of being at the forefront of technology application, accelerate the transformation of bank retail business, use various emerging technologies to build platforms, enrich scenarios, empower all industries in society, and realize the digitalization of operations. , online, intelligent, personalized and ecological, improve the availability and convenience of consumption, make finance invisible in people's daily lives, and better serve the real economy and people's livelihood." Chairman of Shanghai Pudong Development Bank. Zheng Yang pointed out in a signed article in "China Finance" that banks should strengthen financial services for new consumption and upgraded consumption areas such as live broadcast consumption, online education, online entertainment, and online medical care, cultivate new engines of consumption growth, and further tap domestic consumer demand. development potential and market space. At the same time, we should make good use of various financial technologies to continue to strengthen the protection of financial consumers' rights and interests, especially the protection of consumers' personal privacy information, and create a good development environment for cultivating healthy and sustainable domestic consumer demand.