Financial sector website newsHalfway through 2020, under the influence of the pandemic and the complex economic situation, the banking industry is also facing challenges. However, “when the tree is deep, you see deer”. The more confused you are, the more you can see the true value of an organization.
Looking back over the past six months,Bank of ChongqingAwards have been received frequently. From the “2019 fiscal yearfinanceFrom the “Four Advanced Units of Standard Innovation and Fintech Innovation” to the “S&P 'BBB-' Investment Rating”, the industry and market's recognition of the value and strength of Bank of Chongqing are the industry and market's recognition of the value and strength of Bank of Chongqing.
Behind market recognition: the hard power of fintech
Taking stock of the awards received by the Bank of Chongqing, “fintech” is a keyword that cannot be circumvented.
In the briefing by the Chongqing Business Management Department of the People's Bank of China on the 2019 fintech application pilot and financial standard innovation and construction pilot work, the Bank of Chongqing ranked in all 4 awards in the 3 lists of advanced financial standard innovation units, advanced fintech innovation units, and face recognition offline application pilots (client transformation, application promotion) advanced units, and became the only bank in Chongqing to win all awards;
Also, in the “2019 Fintech Research Project Award List” issued by the Chongqing Administration Department of the People's Bank of China, the “Research and Practice of Constructing a Commercial Bank Big Data Risk Control System Based on a Knowledge Map” once again won the only first prize in Chongqing;
Meanwhile, in the “2020 China Fintech Innovation Competition” organized by the China Financial Certification Center (CFCA) and nearly 100 banks, the “Anti-Money Laundering and Anti-Terrorist Financing Project” designed and developed by the Bank of Chongqing based on the existing “Wind Bell Intelligent Evaluation System” won the “Technology Innovation Application” silver medal for application innovation that closely combines advanced technologies such as big data and knowledge maps with internal control risk management pain points.
If you drag the timeline to 2019, you'll find that the Bank of Chongqing has received numerous awards in the field of fintech — “2019 IDCThe financial industry“Best Innovation Award for Technology Application Scenarios”, “China Fintech Innovation Competition Intelligent Customer Service - Innovative Application Bronze Award”, “2019 China e-Banking Gold List Award Best Smart Financial Platform Award”, etc. are behind the Bank of Chongqing's continuous exploration and deep cultivation of fintech.
As we all know, the popularity of mobile payments has had a significant impact on banks. To achieve a breakthrough, traditional commercial banks must not only explore the use of new technology to continuously innovate service methods and service channels to accelerate the expansion of emerging businesses, but also build a good cooperative and win-win relationship with fintech companies, achieve technology sharing and platform sharing, and embrace fintech, which has become a key point for verifying the bank's financial content.
The Bank of Chongqing has been actively deploying innovative applications of fintech in traditional business fields. Currently, it has launched a series of fintech applications and financial standardization results, including risk warning systems, external credit information big data applications, remote real estate mortgage registration, cloud revaluation of stock collateral value, online credit reporting and authorization management, mobile credit exhibition, and online post-loan management.
What is particularly worth mentioning is that by fully relying on big data and knowledge mapping technology, the Bank of Chongqing has built a big data risk control system with group relationship mining as the core of group relationship mining - “Wind Bell Intelligence”. The system can construct a knowledge map of enterprise relationships, deeply explore and penetrate complex and hidden relationships between enterprises, and play an important supporting role in risk prevention, internal audit, and internal control management throughout the banking enterprise credit granting business process.
When banks stand on the cusp of fintech, whoever can actively embrace and take the lead in making a difference can lead the industry. Today, the Bank of Chongqing has adopted financial technology to accelerate the improvement of risk control levels, product innovation and upgrading, and the strategic transformation of smart banking, which not only provides an overall idea for the industry's fintech exploration, but also explores a breakthrough path for the banking industry's transformation.
In May of this year, due to the impact of the epidemic, the IMF drastically lowered global economic growth expectations, and major international rating companies were also generally pessimistic about domestic banks. In this context, the Standard & Poor's Rating Committee decided to continue to give the Bank of Chongqing a “BBB-” investment rating, looking forward to “stability”. This is the fourth year in a row that Standard & Poor's has maintained its rating for Bank of Chongqing, which shows its recognition and confidence in the development trend of the Bank of Chongqing.
Help small and micro enterprises and show the responsibility of state-owned enterprises
For the Bank of Chongqing, if the intuitive expression of the “capability” of fintech is the improvement of the risk control level based on the “wind chime intelligence” system, then an important reflection of the “significance” of fintech is the innovation and upgrading of the online micro-credit product system.
Based on financial technology innovation, Bank of Chongqing has focused on launching five major online small and micro credit product series, including “Good Enterprise Loans” bank tax interactive series products: tax credit, tax credit; “good enterprise loans” specific scenario products: supermarket loans, good enterprise intellectual property loans (under development); “good enterprise loan” mortgage products: excellent housing; “chain enterprise loan” scenario products: government financing; “active loan renewal, customized loan renewal” special products: good enterprise loan renewal products, good enterprise loan reloan support products.
The Bank of Chongqing's “Good Enterprise Loan” business has so far received more than 70,000 applications and invested more than 11.5 billion yuan, all of which target small and micro enterprises and individual businesses.
By the end of June, the Bank of Chongqing had taken the initiative to visit more than 6,000 physical enterprises. The balance of physical loans was nearly 240 billion yuan, an increase of 15% over the previous year; it used special reloan funds to invest 3.9 billion yuan in 143 key protection enterprises for epidemic prevention and control, ranking first among corporate banks. Loan renewal, interest rate adjustment, and repayment period adjustments have been adopted to help more than 1,800 enterprises stranded due to the pandemic. To provide enterprises with a series of products such as “Good Enterprise Loans,” pure online products that meet the needs of rapid financing, “Premium Loans,” which solve the long-term use of short-term loans, “physical loans,” which solve insufficient collateral, and “order loans,” which solve the shortage of capital to resume production and resume work, all meet the capital needs of enterprises in a differentiated manner and contribute to bailing out enterprises and benefiting enterprises.
In the 2019 small and micro enterprise financial service work assessment organized by the Chongqing Banking Insurance Regulatory Bureau, the Bank of Chongqing won the “2019 Advanced Unit for Small and Micro Enterprise Financial Services” for its outstanding performance in the field of financial services for small and micro enterprises. The award not only reflects Bank of Chongqing's service capabilities, but more importantly, demonstrates its responsibility and responsibility as a financial state-owned enterprise — under the continued and severe impact of the epidemic, giving full play to its advantages, overcoming difficulties, pioneering and innovating, helping enterprises resume work and resume production, and contributing to local economic development.
In fact, as one of the earliest local joint stock commercial banks established in the western region and the upper reaches of the Yangtze River, the Bank of Chongqing has been closely focusing on the needs of the real economy and deeply implementing the responsibilities of state-owned enterprises, contributing actively to supporting the real economy's economic development. In addition to empowering the real economy, helping the private economy, and carrying out fintech innovation, the Bank of Chongqing also insists on giving back to society through public welfare. Since the establishment of the “Bank of Chongqing Caring Charity Fund” in 2014, the Bank of Chongqing has insisted on promoting “one yuan a day, giving love every day” voluntary donation activities throughout the bank. Today, it has not only helped a number of employees from difficult families, but has also donated to the “Good People in China” selected by the Central Civilization Office for many years.
Coupled with the establishment of the Bank of Chongqing Youth Volunteer Service Team, serving migrant workers returning to their hometowns and left-behind children, etc., the Bank of Chongqing has been doing its bestsocial responsibilityIt is also because of its continuous contribution to economic and social development and its dedicated investment in public welfare activities that the Bank of Chongqing received the State-owned Enterprise Contribution Award and was rated as a “National Civilized Unit” by the Central Civilization Commission.
Bank of Chongqing has always been one of the banks that have received the most awards from financial institutions in Chongqing. Looking at the Bank of Chongqing's awards over the past two years, from recognition of its financial service capabilities, to recognition of its risk prevention and control measures and effectiveness, to praise for its implementation of social responsibilities, it is not difficult to see Bank of Chongqing's professional strength and responsibility as a state-owned enterprise. This is the Bank of Chongqing's constant core competitiveness, like a permanent engine, promoting its continuous development and progress.