On July 28, the "Asian Banker", one of the most prestigious awards in the global financial field, announced the 2023 awards, and Qifu Technology won the honor of "Best Credit Project in China". It is worth noting that this award was jointly won by Qifu Technology and Hayin Xiaojin. The joint award of the two parties is the organizer's high recognition of Qifu Technology's comprehensive empowerment of financial institutions' digital and intelligent concepts and practices.
Picture: Qifu Technology and Hayin Xiaojin jointly received the award at the meeting site
Empowering financial institutions to upgrade their technology is undoubtedly one of the most concerned topics in the financial industry. How to establish a set of platform-based solutions to meet the credit and service needs of different financial institutions, and strictly control the front-end and back-end risk factors of services through digital technology, while being iterative and universally applicable, has been the industry's long-term exploration direction , this time, Qifu Technology gave the answer through the Glaucus growth service platform based on previous business development.
Prior to this, Qifu Technology has formed a relatively complete set of product and service solutions in the process of cooperating with other financial industry partners. This time, in the cooperation with Harbin Bank Consumer Finance, the customized iteration of exclusive scenarios and specific needs has become a model of efficiency enhancement of "technology companies serving financial institutions". In the cooperation with Hayin Xiaojin, the Glaucus platform of Qifu Technology will optimize the credit cost by 5%, saving about 290 million yuan for Hayin. Through the two-way linkage application model and strategy, the service efficiency of Hayin Consumer Finance's customers has increased by 30% from the acquisition to the formation of a stable asset scale. In addition, the average loan per customer will rise from less than RMB 10,000 in 2021 to close to RMB 20,000 in 2023, while the bad debt rate will stabilize and decline.
At the beginning of building the Glaucus growth service platform, Qifu Technology conducted in-depth communication and discussions with various financial institutions, and reached an unanimous long-term strategic goal, that is, "to jointly establish a comprehensive business mechanism that is efficient and continuously optimized." And this ultimately determines the core value of today's service platform: not only to continuously find high-quality customers for various business partners in the vast sea of traffic, but also to provide a complete service mechanism, continuously optimize business efficiency, and dynamically match business priorities. In specific business operations, the Glaucus growth service platform lowers the threshold for customer acquisition, improves loan scale and health, and reduces risk and credit exposure. In terms of services, through AI large-scale robot and CDP capabilities, it provides continuous operation capabilities for customers in various financial industries. According to the data released by Qifu Technology in its Q1 financial report, Qifu Technology currently maintains technological financial business service cooperation with 150 financial partner institutions.
The integration direction of finance and technology is becoming clearer, and more and more financial institutions are gradually realizing the differences in their own technology accumulation and business genes. Based on this cognition, choosing a financial technology company to become one's own "technical agent" will also become a common choice. Qifu Technology and Hayin Xiaojin jointly won the "Asian Banker" award, which also highlights this trend. As a deep cultivator of financial technology business, Qifu Technology will also pave the way for more partners in the financial industry to create intelligence.
The "Asian Banker" series of awards was established in 2001 and is considered to be one of the most important awards in the financial industry in the Asia-Pacific region. The selection team will conduct a detailed analysis of each shortlisted project, going through product research, technical analysis, data sampling, etc. process, and finally determine the ownership of each award. This award shows that Qifu Technology's exploration achievements in empowering financial industry partners have been widely recognized by the industry.