In view of the Guiding Opinions on the Digital Transformation of Banking and Insurance Industries recently issued by China Banking and Insurance Regulatory Commission, OneConnect shows the corresponding digital transformation structure of banks from three aspects: strategy, business and capability, puts forward insights into current challenges, and gives targeted scheme recommendations.
New Challenges to Digital Transformation of Banks
With the rapid development of financial technology, the digital transformation of banking industry has entered a new stage, facing higher requirements in strategy, operation, data, technology and risk control. OneConnect provides banks with full-process banking digital solutions covering retail, credit and core system construction, and helps banks realize the leap-forward development of digital transformation.
Digital Retail Banking
OneConnect creates an overall solution of digital retail banking with the application of system and service. Four modules (smart marketing center, smart wealth management, smart benefits service, smart banker) and one infrastructure solve the difficulties of banks in obtaining customers, enriching products, improving services and management. The digital transformation of retail banking will be comprehensively accelerated with retail revenues of larger scale and proportion.
OneConnect provides financial institutions with end-to-end and full-process intelligent risk control solutions for pre-loan examination, loan approval, post-loan management and collection promotion. An end-to-end credit system will be built to lay a complete foundation to enhance the scientific and technological capabilities of the whole credit process. At the same time, an Internet litigation solution is offered to set a service platform integrating online case acceptance, collectors docking, court litigation and other services.
An overall solution to the new generation of core system promotes the digital transformation of banks with the end-to-end integration of technology and business.
The solution further drives the digital transformation for business, and maintains its smooth and orderly progress with technology.
Advanced regulatory technology such as big data, AI technology and intelligent algorithms are employed to provide end-to-end regulatory compliance unified solutions for regulators. By integrating regulatory governance, coordination, market, compliance risk early warning model and front-end application, to build an ecological closed loop of regulatory compliance, to create an intelligent regulatory linkage mechanism, so as to improve regulatory efficiency and reduce compliance operational risks.
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