China CITIC Bank awarded Best Innovation Centre by Financial Institution in China at The Asian Banker Financial Technology and Platform Awards 2019
- CITIC innovation lab promoted technology platform and model structure for business lines
- “CITIC Brain” launched by the innovation lab delivered artificial intelligence (AI) based service
- The bank continued to enrich blockchain trading system with CITIC innovation lab
Bangkok, May 30th, 2019- China CITIC Bank was awarded the Best Innovation Centre by Financial Institution in China for 2019 at The Asian Banker Financial Technology and Platform Awards 2019. The awards ceremony was held in conjunction withThe Asian Banker Future of Finance Summit 2019, the foremost annual meeting for decision-makers in the financial services industry in the Asia Pacific region, held at the Shangri-La, Bangkok, Thailand.
Standing from left: Richard Hartung, International Resource Director, The Asian Banker;Jiang Peng, Deputy Division Chief, Information Technology Management Department; Neeti Aggarwal, Senior Manager, Research, The Asian Banker; David Gyori, International Resource Director, The Asian Banker
CITIC innovation lab promoted technology platform and model structure for business lines
The CITIC’s innovation lab has cooperated with Tsinghua University’s Network Architecture, System and Protocols Lab for fintech technology application since 2018. The lab developed and implemented notable technology solutions such as “CITIC Brain” artificial intelligence platform construction, universal neural network switching interface, and a high-performance network deep learning solution. In addition, the innovation lab promote the “CITIC Brain” platform for intelligently empowering business lines including conduct “D-CUBE” anti-money laundering model, a loan lending model, mobile banking transaction fraud control model and electronic account impersonation account opening warning.
“CITIC Brain” launched by the innovation lab delivered artificial intelligence (AI) based service
The AI outbound card marketing calls supported by “CITIC Brain” recorded a success rate sixteen times higher than that of the traditional outbound calls. The compliance AI blacklist matching introduced by the bank recorded a precision rate significantly higher than that achieved by foreign mainstream products. “CITIC Brain” has attained the preliminary capacity for smart application and service in multiple areas such as smart trading, smart marketing, smart risk control, smart service provision and smart operation. Based on the CITIC brain platform’s research and development of eighteen human intelligence models has been completed.
The bank continued to enrich blockchain trading system with CITIC innovation lab
CITIC innovation lab took the lead in launching blockchain, forfeiting trading system in Chinese industry, and recorded a significant business volume on the chain. In addition, the bank issued an innovative pilot project utilising blockchain for supply chain finance.
The Asian Banker Financial Technology Innovation Awards Programme, refereed by prominent global bankers, IT consultants and academics, provides an undisputed benchmark of technology implementation in an increasingly fierce marketplace. A stringent three-month-long evaluation process determines the awardees from across Asia Pacific, Middle East, and Africa. The awardees are honoured in a gala event that recognises their efforts in using the best technology to run their institutions and bring superior products and services to their customers.
About The Asian Banker
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website iswww.theasianbanker.com
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For further information on the collaterals for winning banks, please contact:
Mr. Alfred Labicassi
The Asian Banker