On May 23, the "2023 Financial Technology Ten Trends Report" (hereinafter referred to as the "Top Ten Trends in Financial Technology") was jointly compiled by Tencent Research Institute, Tencent Cloud, Tencent Security, WeChat Pay, Tencent Advertising, Tencent Youtu Lab, China Merchants Bank, and China Securities. "Report") was officially released. The "Report" summarizes the ten frontier trends of financial technology from five aspects: innovation, intelligence, inclusiveness, security, and integration, supplemented by case studies, to provide insights into the development of the financial technology industry and the depth of technology and financial services Integrated development provides practical reference.
In recent years, the development of financial technology has been in full swing, and it has played an active role in promoting the healthy development of the financial industry, supporting the real economy, and improving life. As financial regulation becomes stricter, adhering to legal compliance, improving risk control and security systems, and building a solid security foundation have become the lifeline for the healthy development of financial institutions. Mastering the cutting-edge trends of financial technology will help financial institutions better grasp the safe development direction.
The "Report" mentioned that in the future, the security of financial technology scenarios will also be combined with depth and business, which will become the key to start the development of financial business, and put forward two major development trends: privacy computing technology guarantees the trusted circulation of financial data, and aims to build a more open financial ecosystem. Provides new ideas; dynamic risk management is based on big data, artificial intelligence, and expert experience strategy collection to create an intelligent risk control decision-making system that serves a wider range of users.
Security - Trend 1
Privacy Computing Facilitates Trusted Circulation of Financial Data
Privacy computing (Privacy Computing) is a technology and system that is jointly calculated by two or more participants. The participants collaborate to conduct joint machine learning and joint analysis of data without disclosing their respective data. The core is It can guarantee the "availability and invisibility" of data in the process of circulation and integration. Common genres of privacy computing include trusted computing, federated learning, and multi-party secure computing.
Tencent's secure and private computing platform is based on privacy data protection technologies such as federated learning, multi-party secure computing, and trusted execution environment. It can support joint statistics, joint computing and joint modeling, secure intersection, and concealment without leaving the original data locally. Inquiry and other functions enable cooperative organizations to not only ensure data security, but also maximize the value of data, realize data availability and invisible, and provide a secure foundation for trusted data circulation.
At present, Tencent's privacy computing solution has been implemented in banks, new financial institutions, credit institutions, insurance, securities, etc. The specific scenarios include credit risk control modeling, precision marketing, and multi-party joint statistics.
Security - Trend 2
Dynamic Risk Governance Creates a New Model of Digital Risk Control
Dynamic risk governance (DRG) is a dynamic risk governance system based on the organizational level. By implementing dynamic risk governance, organizations can properly customize risk governance for each risk, enabling organizations to better manage risks and reduce assurance costs. The implementation of DRG needs to consider the digitalization of risk management. The organization centralizes data management, continuously conducts risk analysis, establishes an organizational risk view, automates and continuously tracks business risks, organizational risks, and data risks, and realizes comprehensive governance of the risk analysis process.
Tencent Security Tianyu decision-making operating system focuses on data analysis, risk perception, and AI decision-making. Based on this operating system, financial institutions can be compatible and interoperable with existing systems, complement the shortcomings of digital intelligence business and talents, and create a unified risk control center . China Everbright Bank is one of the first leading banks to practice the risk control center.
Under the guidance of the bank's technological and financial transformation strategy, China Everbright Bank and Tencent Cloud have built a set of intelligent risk control decision-making system based on big data, artificial intelligence and expert experience and strategy collection, to realize e-commerce, social networking, travel, education, medical care, etc. The financialization and Internetization of consumption scenarios have successively carried out intelligent risk control product innovation in multiple risk control links such as fraud detection, risk assessment, and early warning collection, and realized the transformation of results.
Up to now, Tencent Security has covered more than 80% of benchmark customers in the financial field, providing fraud identification for Bank of China, China Construction Bank, China Everbright Bank, China Minsheng Bank, Huaxia Bank, Jilin Rural Credit, Jining Bank, Bank of Qingdao and other financial institutions , Financial-level identity authentication, prevention of malicious marketing, prevention of "wool party" and other services, a total of over 50 million suspicious transactions have been intercepted, and banks have been escorted to safely lend more than one trillion yuan. In the future, Tencent Security will continue to work with industry ecosystem partners to integrate security capabilities in typical fraud risks such as financial anti-fraud, digital content, digital marketing, and identity fraud, to escort the digital transformation of various industries.
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