HONG KONG and SHANGHAI, June 30, 2023 /PRNewswire/ — Tang Jiacai, Chief Data Officer of Ping An Bank, a subsidiary of Ping An Insurance plan (Team) Organization of China, Ltd. (“Ping An” or the “Group”, HKEx:2318 SSE:601318), attended the Asia New Eyesight Forum hosted by Caixin World, and carried out a sharing on the application of making use of engineering to aid sustainable progress on many fronts, this sort of as creating smart banking companies, enhancing the security of money information and selling financial inclusion.

“Sustainable growth is an evergreen matter. Ping An Bank’s mission is to be China’s most fantastic, environment-major smart retail bank. We follow the philosophy of sustainable enhancement, leveraging the benefits of Ping An’s built-in finance ecosystem and technological empowerment to provide the authentic economic system, satisfying the corporate responsibilities of a fiscal products and services firm, and making each individual exertion to promote sustainable advancement.” Mr. Tang mentioned.

Constructing Wise Banking 3. to enhance customer knowledge

In the electronic period, the ongoing evolution brought by the global technological revolution and industrial transformation, and the electronic components represented by fintech, the metaverse, the Web of Items and digital reality deliver difficulties and prospects to the banking sector. “We are carrying the progress of Good Banking 3. ahead, breaking absent from the restrictions from items and departments of conventional banks,” Mr. Tang mentioned. “By adopting a shopper-centric and data-driven attitude and exploring customers’ choices for solutions and companies via in-depth KYC (Know Your Buyer) procedure, we supply sensible suggestions for fiscal products and services to buyers.” Ping An Bank is now applying intelligent robots for simple, superior-frequency, procedure-oriented responsibilities to, which allows staff members to target on much more intricate, higher-price jobs. As of the end of 2022, somewhere around 99% of Ping An Bank’s centralized operations have been automatic and digitized. Among the them, the bank’s AI services associates delivered 24-hrs-a-day, seven-days-a-week services to clients, and saved RMB600 million in labor expenses.

Guaranteeing fiscal data safety and strengthening shopper privacy administration

Though the digitalization of details is flourishing, it also comes with inherent security dangers, Mr. Tang reported. “China’s rigorous administration of facts stability is about making use of facts effectively within a controlled framework.” He shared two examples on employing details in a secure and controllable manner. To start with, facts can be secured by means of know-how, these types of as creating a safe network atmosphere and employing firewalls concerning diverse company divisions, he stated. Knowledge collection takes place only with consumer authorization, and users can only access details that has been precisely authorized by prospects. Next, details protection can also be ensured via managerial indicates, this sort of as labeling facts in accordance to regulatory specifications and applying a tiered protection management process for various details resources. Less delicate knowledge can be used far more thoroughly, while highly delicate information can have a lot more protection. In 2022, Ping An Bank carried out a in depth stability audit, which predominantly lined locations these as data stability management, the info protection management framework and methods, chance management for engineering outsourcing, organization safety management, and worker conduct administration. In the course of the identical period, the lender also carried out nine information stability coaching periods for team, on subject areas these kinds of as info safety, own details security, facts protection legal guidelines, and info technological innovation outsourcing administration.

Marketing monetary inclusion

Ping An Lender employs its rewards in fintech, actively encourages the integration of digital technologies and fiscal inclusion, leveraging the internet, cloud computing, large knowledge, AI and other technologies, to strengthen the accessibility of fiscal services. As of the conclude of 2022, Ping An Bank’s harmony of financial loans to smaller and medium-sized enterprises for inclusive finance was RMB528.226 billion, accounting for 17.11% of the total personal loan equilibrium, an maximize of 38.22% from 2021. For compact and micro enterprises, Ping An Pocket Financial institution Application is an ground breaking on line support platform made by Ping An Bank, supplying several added benefits, these as waivers for payment and settlement expenses, tax, personnel and lawful expert services costs, and financial loan interest. As of the end of 2022, there had been extra than 13 million registered customers of the Pocket Bank App and the selection of transaction people surpassed 4.7 million. For tiny and medium-sized financial institutions, Ping An Bank introduced an on the web system to address the pain details of little and medium-sized financial institutions in areas lacking fiscal solutions, this kind of as insufficient merchandise source, and built-in industry sources to present a wealth of items these kinds of as funds, bonds and economical management. By the end of 2022, Ping An Bank had served 1,160 smaller and medium-sized banking institutions, together with 1,010 rural financial institutions. Engineering has also enabled Ping An Lender, via collaborations with peers, to offer oblique products and services to compact and micro enterprises and farmers in distant counties and villages without the need of expanding its bodily branch network.

About Ping An Group

Ping An Insurance plan (Group) Company of China, Ltd. (“Ping An” or the “Group”) strives to grow to be a environment-major built-in finance and healthcare services company. With nearly 229 million retail buyers, Ping An is one particular of the premier fiscal providers firms in the globe. Beneath the know-how-driven “built-in finance + healthcare” strategy, Ping An supplies qualified “monetary advisory, family members health care provider, and elderlycare concierge” solutions. Ping An innovations intelligent electronic transformation and employs systems to increase the high quality and efficiency of its economic businesses and improve risk administration. The Group is mentioned on the stock exchanges in Hong Kong and Shanghai. As of the stop of 2022, Ping An had RMB11,137,168 million in complete assets. The Team ranked 16th in the Forbes World-wide 2000 listing in 2023 and ranked 25th in the Fortune International 500 listing in 2022.

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Source Ping An Insurance plan (Team) Corporation of China, Ltd.