Analysys Analysis: In 2022, under the guidance of deepening financial supply-side structural reform and high-quality growth requirements, empowering entities, fairness and inclusiveness, and prudent operation will become the key words for the transformation and development of the banking industry. On the one hand, in the face of complex internal and external economic environments and uncertain risks, banks focus on prudent strategies, and digital transformation continues, but strategy makers have begun to become more pragmatic, paying more attention to resource utilization and whether digital means can affect business Growth has real effects.
On the other hand, the epidemic has made online services and automation a must. The banking industry is committed to creating omni-channel and multi-lineage financial services, which also forces more businesses to complete digital transformation. In 2022, pension finance, green finance, and inclusive finance will become the focus of the banking industry, and data, as important basic information, is related to the application effect of customer behavior identification and risk control models. The demand for data applications in business scenarios will increase significantly. Under such circumstances, the value of the superposition of elements and technical elements has been continuously amplified, becoming a new driving force for transformation and development.
Based on the long-term tracking and research on the digital transformation of the banking industry at home and abroad, Analysys released the "China's Banking Industry Digital Transformation Trend Report 2023" in combination with my country's financial supervision and industrial policy orientation, financial technology development, and exchanges and interviews with relevant industry experts. , through the three dimensions of customer management, technology empowerment, and organizational development, it has an in-depth insight into the key trends of the digital transformation of my country's banking industry in 2023.
With the accelerated application of 5G, cloud computing, artificial intelligence, Internet of Things and other technologies in various industries, the integration of digital economy and real economy has been promoted. In 2023, the effect of synchronous resonance between finance and economic and social development will be prominently reflected. Under the overall economic expectation, the integration rate of the digital economy and the real economy will accelerate, the value of data and technological dividends will be released, and financial resources will be injected into the real economy. The field will show a greater role. At the same time, the industry standard for the maturity of financial digital transformation is expected to be released this year, which means that it will be more conducive to the formation of a corresponding transformation quantitative evaluation mechanism and provide effective guidance for the construction of banking industry transformation strategies. Analysys believes that the key trends for the banking industry to achieve high-quality digital transformation in 2023 will be reflected in the four major aspects of "precision, agility, stability, and integration".
Customer Management
Trend 1: Financial inclusion tends to be precise and sustainable, and the role of business model exploration and technical compensation will be significantly enlarged
In 2023, in addition to continuing to maintain the allocation of credit resources, the means of financial empowerment for the growth of the real economy will place greater emphasis on grasping the pace of allocation, improving the allocation efficiency and adaptability of credit resources, and improving the sustainability and precision of empowerment . After the data rights confirmation and data market-oriented configuration standards are clarified, the improvement of data acquisition, circulation and application rules will play an important role in the precise placement of credit. Group scale, mining data value. In terms of business model, it will focus on how to carry out joint expansion and in-depth operation of customers. Among them, doing a good job in GBC synergy empowerment will release outstanding value; in terms of technical compensation, it is necessary to increase the introduction of high-quality data and upgrade data analysis technology to reduce deviations in information reliability. Improve credit demand judgment and risk automatic assessment capabilities.
Explorer: Agricultural Bank of China's multi-source data collection empowers inclusive finance and accurate credit granting
Trend 2: Consumer credit has entered a period of rapid expansion, and business acquisition and compliance requirements will increase simultaneously
Increasing the intensity of consumer credit and promoting the full implementation of consumption expansion policies will be the main task to achieve C-end growth in the next stage. It is expected that the scale of consumer credit in the banking industry will expand rapidly in 2023. At the same time, consumer finance is further characterized by online and digitalization, and consumer credit will also become a key area of bank risk management and future regulatory focus. Banks will face the simultaneous increase in business acquisition and compliance requirements for a period of time in the future. challenge. First, consumer credit services will be extended along the upstream and downstream of the industrial chain more quickly, and the core of business growth will focus on the ecological cooperation model with a higher degree of docking, so it is necessary to have the ability to build a cross-platform and cross-field ecosystem; The data scale and data quality are not enough to support in-depth exploration of customer consumption behavior. It is necessary to train the risk control model based on real consumption scene data, and seek the optimal solution of data training volume and risk control income in the pre-control strategy.
Explorer: Ping An Bank Leverages the Group's Advantages to Build an Open Ecosystem for Consumer Finance
Trend 3: Customer experience tends to satisfy deep-seated needs, and the future of building global intelligence is promising but will still face long-term challenges
In the post-epidemic era, customer experience will become more personalized and meet in-depth service needs. It has formed an industry consensus to break through the current situation of channel fragmentation through global intelligence and conduct in-depth management of customers' full life cycle. Online channels need to highlight the intelligentization of human-computer interaction services; the in-depth optimized allocation of resources in offline channels, and the opening up of global collaborative chains such as scenes, data, and interactive content, will be the core of reshaping the value of physical outlets in the future and should be paid long-term attention. At the same time, the closed-loop operation of global experience "perception-response-decision-iteration" will rely on a complete customer experience index evaluation system to make customer experience monitorable and measurable, and improve process specification and business compliance through customer experience optimization , and then realize the protection of consumers' rights and interests.
Explorer: China Merchants Bank builds a customer experience closed-loop monitoring management system to achieve value growth
Technology Empowerment
Trend 4: The process of data capitalization is accelerating, and data application capabilities will become a key consideration in enterprise architecture design
In 2023, the process of data assetization will be significantly accelerated. Based on the significant increase in the emphasis on data asset management, future data applicability will become a key driver of bank enterprise architecture design and a core consideration in modeling. Therefore, an organizational mechanism that is conducive to the connection between business and data systems should be formed. When integrating data application capabilities into the top-level design of business architecture and IT architecture, it is necessary to focus on the degree of atomization of business models, the degree of standardization of data, and the load capacity of IT architecture. And the impact of the four aspects of the data value evaluation benchmark.
Explorer: China Construction Bank's enterprise-level data and analysis intelligence center supports multiple business scenario applications
Trend 5: Digital native products have higher requirements for system agility, and cloud native + serverless will speed up the application
Banks with sensitive demand insights and intelligent generation of digital native products will have outstanding advantages in service capabilities. Digital native products have the characteristics of rapid response, flexible assembly, and intelligent matching, as well as a high degree of agility and openness of the system. relevant. With the continuous growth of the business scale and the continuous improvement of the personalized needs of customers, it is also facing the challenges of increasing the complexity of the system architecture, increasing the cost of transformation, and business continuity. Based on the cloud-native micro-service architecture, building a flexible, agile and cost-controllable system has higher application value for banks. The advantages of serverless technology in reducing costs and increasing efficiency will be highlighted, thereby accelerating the realization of some businesses. application, improve the response speed of the whole business process, and reduce system transformation and operation and maintenance costs.
Explorer: ICBC Function Computing Platform Successfully Helps Mobile Banking System Reduce Costs and Increase Efficiency
Trend 6: Intelligent decision-making accelerates to cover full-stack scenarios, and the importance of machine learning engineering will increase significantly
Rule extraction and model training based on AI capabilities driven by data and guided by financial knowledge will speed up the coverage of more scenarios such as business operations, risk monitoring, marketing and investment consulting, but in the face of a large customer base, let the intelligent engine make decisions in business processes It is very difficult to make real-time and large-scale analysis and decision-making. Compared with scientific research and industrial research and development, which require higher performance of algorithms and models, the financial industry should think more about the management and application of models, as well as solving practical problems. capabilities, and the industry's demand for decision-making scale, implementation speed, coordination and cost will significantly increase the importance of machine learning engineering to improve the automatic operation and continuous delivery capabilities of the model, and support multi-scenario and multi-process online decision service.
Explorer: Shanghai Pudong Development Bank's strong engineering capabilities AI middle platform realizes high reuse and fast iteration of business models
Trend 7: The importance of digital risk control in the whole process is increasing, and blockchain technology will achieve large-scale application in more scenarios
Under the strategic orientation of empowering the development of the real economy and deepening opening up this year, the transaction volume in industrial finance, cross-border finance and other fields will usher in a new round of growth. There is a demand for transparency, reliability and traceability of the entire financial business process. will increase significantly, so it will also accelerate the large-scale application of blockchain technology in business scenarios. At the same time, building an enterprise-level risk control platform is the only way to build a sound digital risk control system. It is necessary to focus on the digital credit and risk management and control capabilities of the entire business process, capital monitoring capabilities, and underlying data mining capabilities in planning and design. .
Explorer: China Construction Bank uses blockchain platform and enterprise-level risk management to achieve double improvement in business control capabilities
Organizational Development
Trend 8: ESG will become a new standard for transformation evaluation, and it is necessary to accelerate the exploration of its long-term value for business empowerment
In 2023, ESG attention will be significantly increased. Analysys expects that industry norms such as ESG information disclosure content, quality, form, and frequency will gradually form within 2-3 years. No and the new standard of comprehensive development level, ESG will also accelerate from the level of governance concept to the category of long-term operation and realization of "public value + business value". This requires banks to think about how to use the "technology + finance" model to jointly empower businesses in the ESG transformation, and use technology and capital capabilities to expand business boundaries and demonstrate value in more industries and a larger social scope. In the process of building the ESG governance system and information disclosure, the planning of strategic goals should focus on the public value and business application value of ESG, and should also be considered from multi-dimensional perspectives such as management efficiency, data value, risk loss reduction, and social influence.
Explorer: Industrial Bank realizes "carbon intellectual property" under the guidance of the ESG concept of "integrating justice with profit"
Trend 9: Agile organizations are facing real changes, and the importance of creating a distinct transformation culture will become increasingly prominent
With the acceleration of the digitalization process of the front-end and middle-office, the digital transformation will be further deepened to the back-end, and the establishment of an agile organization will also face three main changes: shortened decision-making chains, blurred organizational boundaries, and complex collaboration scenarios. Building an agile organization that is more adaptable to the changing characteristics of reality will be a long-term problem that banks need to face and solve in the future. In terms of organizational form, it is necessary to form a collaborative model that is flexible enough but not loose; in terms of organizational capabilities, it is necessary to comprehensively improve the ability to use and analyze data, as well as the ability to combine intelligent strategies; in terms of organizational concepts, it is necessary to create a distinct transformation culture, and Accelerate downward for conduction and penetration.
Explorer: China CITIC Bank promotes collaborative construction of agile culture with CoP practice community
Trend 10: Talent construction is facing both virtual and real challenges, and the degree of talent integration will determine the upper limit of transformation and innovation capabilities
Banks' demand for interdisciplinary talents has begun to move towards more subdivided professional fields, and business development urgently requires talents such as inclusive finance talents, green finance talents, and ESG talents to play a role. In addition, although digital employees can form an effective supplement to the labor force, the business scenarios that can be handled are still relatively simple. In the future, the degree of talent integration will determine the upper limit of the bank's ability to transform and innovate. Combining its own strategic layout to build a digital talent system that integrates virtual and real, optimize and improve the human resource structure, and combine financial talent training with digital employee training will become an important implementation path.
Explorer: ICBC builds a high-level FinTech talent team with a diversified talent innovation mechanism
Disclaimer: The third-party data and other information quoted by Analysys in this article are all from public channels, and Analysys does not assume any responsibility for this. In any case, this article is for reference only, not as any basis. The copyright of this article belongs to the publisher. Without the authorization of Analysys Analysis, it is strictly forbidden to reproduce, quote or use any content released by Analysys Analysis. Any media, website or personal use after authorization should quote the original text and indicate the source, and the analysis point of view is subject to the official content released by Analysys Analysis, and any form of deletion, addition, splicing, deduction, distortion, etc. . Analysys does not assume any responsibility for disputes arising from improper use, and reserves the right to pursue responsibility against the relevant responsible parties.