Bairong and SPDB deepen their partnership to strengthen the digital transformation of the financial sector
BEIJING, June 28, 2021 / PRNewswire / – Bairong Inc. (“Bairong“or” the Company “; 6608.Hong Kong), an independent leader in financial big data analytic solution provider in China, announced that it had won the offer of Shanghai Pudong Development Bank (SPDB) Credit card center to strengthen SPDB revolving and post-loan credit risk monitoring system. Following the initial cooperation between Bairong and SPDB, this deep partnership will see the pair leverage from Bairong cutting-edge AI technology to establish a tailor-made management system for existing credit cardholders, providing technological autonomy to strengthen the digital functioning of SPDB Credit card center.
Founded in 1993, SPDB is a Chinese national commercial bank with total assets worth more than 8 trillion RMB as of the first quarter of 2021. As one of the first commercial banks to launch the credit card business in China, the bank now has more than 43 million credit cards in circulation, with a credit card loan balance exceeding 370 billion RMB in 2020.
As new customer acquisition is no longer a strategy of choice for credit card issuers to grow their business, harnessing the unmet needs of existing cardholders and consumers is a new frontier. where issuers compete for better services with new features and less risk. However, how to harness the power of digital technologies to more precisely target high-value customers and strengthen risk management remains a challenge. In response, Bairong will help SPDB increase profit returns by establishing a more robust business model and strategy for credit card consumers while maintaining and strengthening its old cardholder base.
There are several challenges facing credit card issuers when it comes to customer management: How to speed up the response to sudden changes in consumer credit profile? accurately and efficiently adjust cardholder lines of credit; strengthen customer risk control; tackle the problem of dormant credit card accounts; solve the difficulties of identifying the varied needs of clients.
Focusing on these major issues plaguing the industry, Bairong has created proprietary combinations of comprehensive scenario models and screening strategies based on the business characteristics of SPDB. With a multitude of custom model combinations that include anti-fraud, post-loan monitoring and marketing response, Bairong will help SPDB understand and accurately identify loan requests, improving management efficiency for its existing customers.
This historic cooperation will enable Bairong to apply its proprietary AI technology and state-of-the-art cloud native solutions that have received more than 110 Copyright Certificates (SCCs) and software patents. In the first half of 2021 alone, Bairong acquired an additional 18 SCCs, including an intelligent customer conversation response management system, a customer service platform and an auto finance risk warning platform. .
In June of this year, Bairong’s AI-powered solutions took a new step forward when the company’s AI lab launched the ORCA machine learning platform. The platform, which can be deployed both locally and in the cloud, is designed to empower financial institutions to rapidly develop AI models with greater flexibility, lower cost and fewer technological barriers. .
About Bairong Inc.
Founded in March 2014, Bairong is a leading independent AI-based technology platform in China serving more than 4,800 financial service provider clients. Bairong is the largest independent provider of financial big data analytics solutions in China by revenue in 2019. Adhering to the mission of empowering each financial service provider in China With intelligent and comprehensive data analytics, Bairong has built a cloud-native technology platform that supports the full business cycle of PSF clients, including pre-loan risk management, post-loan monitoring, loan management. NPL and insurance risk management, enabling them to reduce exposure to fraud and improve their effectiveness in risk management. Bairong also provides big data marketing and distribution services that enable FSP customers to reach and serve their target customers more efficiently.
For more information, please visit Bairong Inc.
SOURCE Bairong Inc