Recently, the fifth "Bund of Finance Summit" was held in Shanghai. Baiwangyun was invited to attend the summit and gathered at the Bund with global financial and economic dignitaries, institutional executives and academic leaders to share insights and promote consensus through dialogue.
This summit is jointly hosted by the China Finance Forty Forum (CF40) and the China Center for International Economic Exchanges (CCIEE). With the theme of "China and the World on a New Journey: Recovery and Challenges", it focuses on green development, international finance, The four major themes of asset management and financial technology adhere to the positioning of "internationalization" and "professionalization" and aim to jointly build an open world economy through high-level ideological collision and exchange of opinions.
At the meeting, the "8th Rongcheng Cup Fintech Innovation Case Selection" award ceremony was held grandly, and the list of "Top Ten Fintech Innovation Cases" was announced. The case of Baiwang Cloud's "De-core Supply Chain Inclusive Financial System" passed three rounds of rigorous review including preliminary selection, re-selection and final selection defense. It stood out from nearly a hundred participating cases and competed with Bank of China, Bank of Communications and Ping An Bank. , WeBank, Alibaba Cloud and other leading companies were selected into the "Top Ten Cases", leading the forefront of financial technology, representing the latest practical results in China's financial technology field, and winning high recognition from financial regulatory authorities and the market!
Using tickets as a chain to promote financing
Supply chain finance has always been regarded as the blood of the global economy, but as the market economic environment continues to change and risks increase, its management has become increasingly complex. In particular, the current new round of technological industrial revolution is gaining momentum and is having an impact on the economy and finance to varying degrees. What changes will it bring to finance in the future? How should we find and seize potential opportunities? These questions are what we urgently need thinking.
Nobel Prize winner in economics Paul Samuelson pointed out: "Financial risk management must adapt to changes, otherwise it will be eliminated."
Accumulate a short step and reach a thousand miles. Baiwangyun has been deeply involved in the field of digital financial services for many years. With its profound customer service experience, it can accurately determine the many business pain points faced by banks and other financial institutions when serving small, medium and micro enterprises:
a) Traditional supply chain finance business relies on the credit of the core enterprise and requires authorization from the core enterprise. Industries such as hospitals and universities cannot obtain confirmation of ownership and core enterprise data;
b) Small, medium and micro enterprises have inherent problems such as small scale, poor risk resistance, and irregular finances, which prevent many banks using traditional small and micro technology, especially small and medium-sized banks, from achieving the three goals of "risk, efficiency, and cost" have both;
c) In the field of small, medium and micro credit, the threshold for digital risk control technology is relatively high. For traditional financial institutions, especially small and medium-sized banks, it is difficult and costly to develop a new generation of small and micro loan technology with "digital risk control" as the core. higher;
d) Bank products have various terms such as amount, interest rate, term, and whether they are mortgaged, so it is difficult to accumulate sufficient data for a certain product, especially for small, medium and micro credit businesses. Traditional financial institutions are seriously lacking in effective data;
e) An effective risk control scoring model requires enough bad debt samples to distinguish between good and bad customers. The accumulation of bad samples means greater trial and error costs, and this risk is unbearable for banks;
f) The different industry attributes of core enterprises have a greater impact on the business models of the upstream and downstream of the industrial chain. It is important and necessary to build an industrialized risk control model. However, the portrait of industry groups requires the support of massive data from different industries, which is difficult for banks to achieve.
Since then, the “de-core supply chain inclusive financial system” has emerged. Baiwang Cloud has created an integrated risk control product of "order data + invoice data + internal and external data within the bank", using its rich invoice data and strong sample support to empower banks, through comprehensive customer portraits and more complete Data links enhance the depth and breadth of supply chain product logic.
As Samuelson said: "Future financial risk management requires more data and smarter algorithms." Baiwang Cloud's "de-core supply chain inclusive financial system" integrates advanced data analysis and artificial intelligence Intelligent technology can quickly identify potential risks, provide real-time monitoring and early warning, and help companies make more accurate decisions. Baiwang Cloud is at the forefront of data and algorithms, providing customers with the most advanced risk management tools.
Specifically, this solution is an effective aggregation of multi-party data, which can not only be used as a reference basis, but also achieve efficient and convenient digital early warning management, integrate intelligent decision-making throughout the entire customer life cycle management, and cut into business weak links from tax scenarios. Efforts will be made to alleviate the financing problems of small and micro enterprises and help financial inclusion promote the development of the real economy.
Baiwang Cloud innovatively introduces invoice data into the supply chain scenario. Through data mining, data integration and data derivation, it realizes the data integration of different dimensions of customers in the supply chain scenario, builds an enterprise tag library, and portrays the enterprise through multi-dimensional data cross-validation. Complete business portrait to evaluate the company’s true operating capabilities.
For upstream and downstream suppliers/dealers of core enterprises, identify the identities of upstream suppliers of high-quality core enterprises based on the transaction link relationships in invoice data. On the one hand, we pay attention to the supply stability and cooperation between suppliers and core enterprises point-to-point. Indicators such as duration and returns, on the other hand, focus on the overall operating risk of the supplier as a single business entity; in addition, the potential risk transmission possibility of core enterprises should be included in the comprehensive consideration of upstream and downstream entities in the supply chain, and attention should be paid to the core enterprises themselves A chain reaction caused by anomalies on the incoming and outgoing side.
In addition, Baiwang Cloud will perform data cross-validation on all data required in all links to achieve intelligent matching of core enterprise purchase and sales data and invoice data, prevent potential data fraud, ensure the authenticity of model data, and build a good model Solid foundation.
At present, through its unique data and technology advantages, diversified application scenarios, rich industry experience and comprehensive service guarantee, Baiwang Cloud has successfully cooperated with the six major state-owned banks such as Industrial and Commercial Bank of China and China Construction Bank, China Merchants Bank, and Ping An Bank and more than ten joint-stock commercial banks and hundreds of city commercial banks and Internet finance companies across the country have cooperated.
As an enterprise digital transformation service provider highlighted by its "digital technology innovation gene", Baiwang Cloud will take "digital transformation" as its starting point, always adhere to its mission of solving pain points in the financial industry, empower intelligent innovation of financial data, and drive the financial industry. Innovate operational management, upgrade customer services and optimize risk control and compliance to help financial inclusion promote the development of the real economy, and incubate more possibilities for the rapid development of the financial industry through technological empowerment!