OneConnect Making its Debut in University of Chicago China Forum and Experts and Scholars Focusing on the Future of Fintech

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 about the future development trend of fintech on April 7. The forum, with the theme of "Sino-US Dialog in the Era of Transition", was held at the University of Chicago on from April 7 to April 8, at which many academic and industry giants, such as Lars Hansen, the winner of Nobel Prize in Economic Sciences, and Charles Evans, the Chairman of Chicago Federal Reserve Bank, gathered. Fintech industry gained much popularity in 2017. Ranging from big data analysis to blockchain technology, fintech has affected not only our habits but also the trend of global financial industry. This year's fintech forum, with the theme of "the Blockchain Revolution and the Future of Fintech", invited Qiu Han, the Deputy General Manager and Chief Innovation Officer of OneConnect, Sunil Cutinho, the Chairman of the Chicago Mercantile Exchange, Lin William Cong, the Assistant Professor at the University of Chicago Booth School of Business, and Peng Chen, the Chairman of the Global Pension Fund Investment Committee and the Guest Professor of the University of Hong Kong and Andrew Czupek, the Senior Vice President of the Market and Innovation Research Department of Northern Trust and other experts and scholars to carry out in-depth discussion on hot topics, such as blockchain and artificial intelligence. Qiu Han believed that the integration of AI and finance is becoming a new tool for financial institutions to build its competitiveness. AI is promoting all links of finance to be more smart. For example, the manual face review in the traditional loan process is rather inefficient. The micro-expression recognition technology based on machine learning introduced can not only carry out the real-time capture of the tiny changes in expressions of customers and smart judgment but also prompt fraud risk, which is both accurate and rapid. Here is another example: issues, such as slow in loss assessment and difficult in releasing the money in car insurance claims services, are quite common. With the application of AI technology, such as facial recognition and VPR, in completing the authentication of the person, relevant behaviors and attributes, in a rapid manner. The high precision image recognition technology also lays the foundation for automatic precision damage assessment, enabling the speedy claims that consumers have been yearning. "Fintech is also very effective in coping with online fraud." Qiu Han pointed out that currently financial fraud remained to be a big challenge and the fraud gangs were still very rampant. If risks cannot be well managed, all business modes will be trees without roots. The financial industry should not only provide better financial products and services for more users, but also pay more attention to the application of various advanced technologies so as to constantly enhance its anti-fraud ability and risk control ability. OneConnect is the world's leading fintech service company that focuses on providing fintech solutions for small and medium sized banks serving small and medium enterprises and retail customers and helps small and medium banks to improve customer service, develop inclusive finance and provide support for the real economy. Gamma Lab subordinating to OneConnect focuses on the R&D of "future science and technology", such as micro-expression recognition analysis, facial recognition technology, "clairvoyant" smart network monitoring, and so on, with more than 40 patent technologies having been obtained. Besides, it has also launched the world's first artificial smart scenario-based application. The Gamma smart loan solution has integrated tens of advanced technologies in artificial intelligence and big data fields, covering the whole process of smart application, review and examination and approval, etc. The University of Chicago China Forum is the largest international forum in the middle of the United States. It aims to invite the outstanding leaders of the world to discuss the current hot issues and share their own experience and unique views so as to continue to promote international cooperation in the academic and commercial fields. Gamma Lab and University of Chicago Booth School of Business took the opportunity to deepen their mutual understandings and take the initiative to carry out close cooperation in the fields of training, academics and scientific research.

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