Fintech PR
Ping An Bank Chief Information Officer: Technology Supports Sustainability of Finance
HONG KONG and SHANGHAI, June 30, 2023 /PRNewswire/ — Tang Jiacai, Chief Information Officer of Ping An Bank, a subsidiary of Ping An Insurance (Group) Company of China, Ltd. (“Ping An” or the “Group”, HKEx:2318; SSE:601318), attended the Asia New Vision Forum hosted by Caixin Global, and conducted a sharing on the application of applying technology to support sustainable development on multiple fronts, such as building smart banks, enhancing the security of financial data and promoting financial inclusion.
“Sustainable development is an evergreen topic. Ping An Bank’s mission is to be China’s most outstanding, world-leading smart retail bank. We practice the philosophy of sustainable development, leveraging the advantages of Ping An’s integrated finance ecosystem and technological empowerment to serve the real economy, fulfilling the corporate responsibilities of a financial services company, and making every effort to promote sustainable development.” Mr. Tang said.
Building Smart Banking 3.0 to improve customer experience
In the digital era, the ongoing evolution brought by the global technological revolution and industrial transformation, and the digital elements represented by fintech, the metaverse, the Internet of Things and virtual reality bring challenges and opportunities to the banking industry. “We are carrying the development of Smart Banking 3.0 forward, breaking away from the limitations from products and departments of traditional banks,” Mr. Tang said. “By adopting a customer-centric and data-driven mindset and exploring customers’ preferences for products and services through in-depth KYC (Know Your Customer) process, we provide smart recommendations for financial services to customers.” Ping An Bank is now using intelligent robots for simple, high-frequency, process-oriented tasks to, which enables staff to focus on more complex, high-value tasks. As of the end of 2022, approximately 99% of Ping An Bank’s centralized operations were automated and digitized. Among them, the bank’s AI service representatives provided 24-hours-a-day, seven-days-a-week service to customers, and saved RMB600 million in labor costs.
Ensuring financial data security and improving customer privacy management
While the digitalization of data is thriving, it also comes with inherent security risks, Mr. Tang said. “China’s strict management of data security is about utilizing data effectively within a regulated framework.” He shared two examples on using data in a secure and controllable manner. Firstly, data can be secured through technology, such as establishing a secure network environment and implementing firewalls between different business divisions, he said. Data collection occurs only with customer authorization, and users can only access data that has been specifically authorized by customers. Secondly, data security can also be ensured through managerial means, such as labeling data according to regulatory requirements and implementing a tiered security management system for different data sources. Less sensitive data can be utilized more extensively, while highly sensitive data can have more protection. In 2022, Ping An Bank conducted a comprehensive security audit, which mainly covered areas such as data security management, the information security management framework and procedures, risk management for technology outsourcing, business security management, and employee behavior management. During the same period, the bank also conducted nine information security training sessions for staff, on topics such as data security, personal information protection, information security laws, and information technology outsourcing management.
Promoting financial inclusion
Ping An Bank uses its advantages in fintech, actively promotes the integration of digital technology and financial inclusion, leveraging the internet, cloud computing, big data, AI and other technologies, to improve the accessibility of financial services. As of the end of 2022, Ping An Bank’s balance of loans to small and medium-sized enterprises for inclusive finance was RMB528.226 billion, accounting for 17.11% of the total loan balance, an increase of 38.22% from 2021. For small and micro enterprises, Ping An Pocket Bank App is an innovative online service platform developed by Ping An Bank, providing various benefits, such as waivers for payment and settlement fees, tax, personnel and legal services fees, and loan interest. As of the end of 2022, there were more than 13 million registered users of the Pocket Bank App and the number of transaction users surpassed 4.7 million. For small and medium-sized banks, Ping An Bank launched an online platform to address the pain points of small and medium-sized banks in areas lacking financial services, such as insufficient product supply, and integrated market resources to provide a wealth of products such as funds, bonds and financial management. By the end of 2022, Ping An Bank had served 1,160 small and medium-sized banks, including 1,010 rural financial institutions. Technology has also enabled Ping An Bank, through collaborations with peers, to provide indirect services to small and micro enterprises and farmers in remote counties and villages without increasing its physical branch network.
About Ping An Group
Ping An Insurance (Group) Company of China, Ltd. (“Ping An” or the “Group”) strives to become a world-leading integrated finance and healthcare services provider. With nearly 229 million retail customers, Ping An is one of the largest financial services companies in the world. Under the technology-driven “integrated finance + healthcare” strategy, Ping An provides professional “financial advisory, family doctor, and elderlycare concierge” services. Ping An advances intelligent digital transformation and employs technologies to improve the quality and efficiency of its financial businesses and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of 2022, Ping An had RMB11,137,168 million in total assets. The Group ranked 16th in the Forbes Global 2000 list in 2023 and ranked 25th in the Fortune Global 500 list in 2022.
For more information, please visit www.group.pingan.com and follow us on LinkedIn – PING AN.
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Fintech PR
Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region
DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.
On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”
Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.
His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.
As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.
Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
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DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.
Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.
Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.
Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
About Qatar Development Bank
Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.
For more information, visit: https://www.qdb.qa/
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DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.
In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.
Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.
AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.
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