China FinTech Industry Summit 2020 was held in Suzhou on 16-18 September. The event, as influential as it is, is like a shot in the arm at a time when China has effectively brought  COVID-19 under control. Through sharing of new technologies, models and applications, the summit has injected new impetus to boost the full recovery of FinTech industry.

Thanks to the success of the summit over the past two years, the China FinTech Industry Summit 2020 is becoming an increasingly important event, and is considered the must-go event in the FinTech industry. Top players of the industry, including Wisers Information Limited, all attended the show in Suzhou to share their insights on the most cutting-edge innovative practices and explorations in the field.

Wisers took the pleasure on this occasion to showcase some real deals. In view of the series of major financial risk events in 2019, as well as the growing pressure facing the financial risk management industry, Li Jiangwei, Senior Financial Product Manager of Wisers, brought with him a number of intelligent risk control solutions and intelligent policy solutions.

Banking and financial institutions shaken on all fronts

China faced a daunting task to strengthen financial risk management in 2019, as a total of 173 bond defaults were recorded in the year, involving RMB 137.387 billion, with some by   famous investment companies such as China Minsheng Investment Group.

The China Banking and Insurance Regulatory Commission issued 2,904 fines to banks to make them accountable for risk management in the year. It’s high time for the banking sector to strengthen compliance in light of the stricter rules, but the question is how to achieve it.

While banking and financial institutions are accustomed to relying on experience to determine risk, the disadvantages of this come down to the difficulties in  information collection, data processing, analysis, and extraction of insights, which are exactly the biggest challenges facing these institutions when it comes to intelligentizing their existing risk control models; all whilst not forgetting that to their list of concerns also adds the credit crisis as a result of the numerous bond defaults caused by external shocks.

How can banking and financial institutions achieve an “intelligent breakthrough”?

Wisers’ solution to help clients address the above problems once and for all ia effective and easy-to-use. The solution covers four areas, including risk data delivery; risk detection, alert & analysis; AI customized service; and data analysis & presentation. From risk detection to insight extraction, the entire process of risk control could be optimized, with a 50% increase in comprehensive risk information coverage, a 75% increase in risk identification rate, and a 30% labor cost saving in risk insights.

Wisers could tailor exclusive solutions to cater to different customers’ needs. As the business pain points of urban commercial banks, rural commercial banks and mega banks vary, Wisers’ intelligent risk control solutions could be flexibly customized according to customers' own characteristics and application scenarios.

Success story of Leveraging Wisers’ risk management and alert solution

With relentless research and exploration in the field of intelligent risk control, Wisers has been highly recognized by a great number of banks and financial institutions in recent years. The in-depth introduction of Wisers’ intelligent risk control solutions was followed by the study of some successful application cases.  

One of the prominent examples is how a commercial bank successfully applied big data, artificial intelligence and other technologies to identify risk stemming from its large pool of credit clients, counterparties and suppliers in an effective, timely and accurate manner.  By collecting massive data and consolidating third party data, Wisers has built a database covering key information related to the industrial and commercial sectors, taxes, bonds, administrative fines and more to facilitate intelligent analysis, identify corporate risks and detect potential connected risks in real time. It has also assisted the bank in innovating business and enhancing results through managing credit risk of corporate clients, and issuing risk alerts.

About Wisers

Wisers, established in 1998, has exceled in data services for more than 20 years. With seven branch offices across the Greater China region and a headcount of more than 1,000 people, Wisers has been servicing 3,000-plus enterprises and government departments. As the world's leading Chinese all-media big data expert in smart business intelligence, Wisers is founded with pioneering information processing technology developed by the Chinese University of Hong Kong. For over twenty years, the company has been leveraging cutting-edge technology to provide customers with all-media information databases, public relations and market intelligence solutions, social media solutions, business big data services, and more. Wisers can help customers access market information at any time, formulate effective strategies, and accelerate the pace of digital transformation.

FinTech is still at its initial stage of development in China. The mega trend going forward will be economic intelligence transformation empowered by big data and artificial intelligence. In the post-COVID-19 era, Wisers, armed with its AI core technology and function framework and a world-class research team, is committed to maximizing the value of artificial intelligence and data through its unique data advantages and value as well as leading AI processing capability. Wisers is devoted to helping banking and financial institutions in risk management, business innovations and performance enhancement.

Consultation for Free

Please feel free to call Wisers at +852 2948 3600 or e-mail to info@wisers.com for free consultation and more information on Wisers’ solutions for financial institutions.