Under the pressure of the policy of financial regulation and entity deleveraging, the Internet financial industry, which has been developing rapidly in recent two years, is being faced with reshaping of the industry. In addition, small and medium sized municipal commercial banks are facing new challenges yet also provided with opportunities for development. Qiu Han, the Deputy General Manager and Chief Innovation Officer of <350>OneConnect, said when interviewed by Bloomberg Television in Hongkong recently that with the tightening of domestic financial regulation, investors would invest more in banks again, which provides the opportunity for banks to make changes and develop, and in turn banks will provide more products that meet the needs of the investors in the future.
Qiu Han believes that the tightened regulation of the whole industry would be conducive to the development of the industry, for it will enable regulators to regulate the network financial industry and provide further education and protection for investors. Those customers that banks lost will also turn back to them and seek more reliable investment channels with smaller risks. OneConnect, a fintech enterprise subordinating to Ping An, is just intended to help banks to better serve the end users by serving small and medium banks and empowering them to make changes in the future.
Bloomberg Television also expressed concern about the risk control capability of OneConnect during the interview. Qiu Han said that risk control had been very important for the financial industry, and that especially users' habits had changed as they prefered to operate on the Internet, which has raised higher requirements for risk control. OneConnect has provided a variety of risk control solutions for banks via leading technologies , such as artificial intelligence and big data analysis, based on its knowledge of users' behaviors. For example, users often needed to go to bank outlets for signature in person when applying for loans in the past, but now they prefer to carry out such operation online via mobile phones. Therefore, they are faced with more risks related to online services. In view of this, OneConnect has launched the micro-expression technology, which can help the auditor in charge of the interview-based review identify online whether the customer has lied. In this way, on one hand, customers can be provided with online loan service at a faster rate. On the other hand, banks can also identify online customers' risks faster.
In addition, for many small and medium banks who are unable to obtain bank services at present, Qiu Han said that OneConnect is also building technology and platform for small and medium enterprises to meet the diversified and personalized needs of small and medium financial institutions.
OneConnect has provided advanced fintech solutions for more than 400 banks, more than 20 insurance companies and more than 2,000 non-bank financial institutions by the end of 2017. It will serve more domestic and foreign banks and financial institutions with an open state of mind in the future. "It is a big market that cannot rely merely on a single company to provide all the technical services. Therefore, we look forward to cooperating with more fintech companies and innovative companies." Qiu Han said. OneConnect continues to carry out global layout and has set up offices in Hongkong and Singapore to expand global market in financial and technological field this year.
Shenzhen OneConnect Intelligent Technology Co. Ltd (hereinafter referred to as "OneConnect") issued "The Reform of Financial Services in Small and Medium Enterprises and the Advanced Development of Fintech" (hereinafter ...
Qiu Han, the Deputy General Manager and Chief Innovation Officer of OneConnect of Ping An, was invited to attend the University of Chicago China Forum in 2018, and participated in the roundtable meeting of the fintech subforum to discuss ab...