In recent years, under the background of a new round of scientific and technological revolution and industrial revolution, with the continuous advancement of scientific and technological innovation in the mainland and the rapid development of the digital economy, "new quality productivity" has gradually become the focus of attention from all walks of life. Through the support and guidance of various aspects, the state policy has provided a strong impetus for the formation and development of new quality productive forces, which not only contributes to high-quality economic growth, but also lays the foundation for sustainable social development, marking the beginning of a new stage in the mainland's economic development.
The concept of new quality productivity emphasizes the central role of scientific and technological innovation in the development of productive forces, and it represents a new type of economic driving force, which can promote high-quality development and the upgrading of traditional industries. By getting rid of the traditional economic growth mode and the development path of productive forces, it has the characteristics of high technology, high efficiency and high quality, and conforms to the quality of advanced productive forces of the new development concept, which is the internal requirement and important focus of promoting high-quality development.
Nowadays, especially in the field of auto finance, with the increasing maturity of digital technology and the diversification of consumer demand, accelerating the development of financial technology and deepening digital transformation have become a must-answer question to promote the high-quality development of the auto finance industry.
As the approval system for GAC-SOLI's core auto finance business, the new core system of "Kunteng" was successfully launched on February 7, 2024 after three years of hard work. This new generation of core system, closely combined with market demand and industry trends, with user experience as the core, with excellent performance and powerful functions, has brought unprecedented innovation and breakthroughs in the fields of business, technology and management, helping GAC-SOLI Auto Finance to officially lead auto finance into a new chapter.
So, how can the "new quality productivity" with the new core system of "Kunteng" as the core empower GAC-SOLI auto finance and even the high-quality development of the auto finance field?
(1) Open up the "blocking point", empower the whole situation, and inject new is positive
The development of new quality productivity is not only the proposition of the times, but also the magic weapon of enterprise growth. Whoever has a more long-term strategic vision will be able to grasp the pulse of the development of the industry.
For a long time, the business operations of China's auto finance companies have been "fighting in silos" and operating independently, making it difficult to form a strong "joint force". At the same time, the lack of comprehensive combing of the data accumulated over the years provides an obstacle for large-scale data application in the future. These "blockages" have affected the internal operational efficiency of auto finance companies to a certain extent and reduced user satisfaction.
As early as the end of 2020, the management team of GAC-SOLI Auto Finance was fully aware of this systemic problem internally. Therefore, from the beginning of the planning, GAC-SOLI Auto Finance has built a new core system of "Kunteng", aiming to highlight the problem orientation, dredge the three key business contexts of retail, institutional loan and inventory, and realize the unified management of retail, inventory customer and institutional customer information management.
In addition, the new core system of "Kunteng" can also be customized for different customer groups to meet the needs of different users. Realize data analysis and financial analysis based on business segments and customers, and improve business decision-making capabilities.
At the same time, it comprehensively sorted out the historical core business data, greatly improved the company's data governance level, standardized data management process, provided guarantee for good data quality and regulatory reporting, and laid a good foundation for the company to deepen data application in the later stage.
After the launch of the new core system of "Kunteng", the whole domain empowers the business chain, shares data and interconnects capabilities of various sectors, promotes the mutual collaboration between different sections, improves the overall business capabilities, condenses into a "joint force", and improves the level of business operation, laying a solid foundation for the next stage of high-quality development of GAC-SOLI Auto Finance and injecting new momentum.
(2) Solve the "pain points", driven by science and technology, and improve efficiency
"Today's technical content is tomorrow's market capacity. The implication is that technology will determine the market space of the enterprise. In the auto finance industry, the "technical content" of "new quality productivity" will drive enterprises to improve service efficiency and user satisfaction in market competition. This can be seen from the new core system of "Kunteng" to empower GAC-SOLI's auto finance terminal business.
After opening up the "blocking points" internally and connecting the various business chains, GAC-SOLI Auto Finance has achieved efficiency improvement both internally and externally, bringing higher service efficiency to OEMs, dealers and users. This is mainly reflected in the fact that the new core system of "Kunteng" has improved sales efficiency, operational efficiency, risk control and other aspects.
In terms of sales, the new core system of "Kunteng" has achieved 42 business changes and improvements, focusing on optimizing 18 business processes, and improving the efficiency of sales and operation processes by an average of 57%. The flexible configuration of financial products has improved the efficiency of the overall financial product system design and implementation, and can adapt to market changes more quickly.
In terms of operation, the overall business process was optimized, the level of automation was improved, and the digital upgrade was carried out to improve the efficiency and user experience of the entire business process.
Institutional loans have been moved from offline to online and "e-pick-up" has been introduced, which has greatly improved the user experience. The institution adopts digital identity verification technology, automatic system approval, generation of electronic vouchers and other means, and the efficiency of each batch of borrowers is increased by more than 50%. At the same time, it has built a self-service platform for institutional loans to corporate customers, and the customer self-service platform has realized multi-channel integrated services, and customers can handle and serve the corporate business through the PC terminal and mobile terminal.
In addition, through data analysis and artificial intelligence technology, the intelligence of user credit assessment and risk control supports self-service modification and automatic approval of some applications, reducing user waiting time and further improving user satisfaction.
In terms of risk control, the success rate of effective hedging of retail and inventory contracts has increased by 36%, realizing the exhaustion of all due diligence and effectively improving the risk control ability.
In the process of building the new core system of "Kunteng", GAC-SOLI Auto Finance has made extensive use of software technology and the latest industry standards in recent years to improve security and maintainability. The IT infrastructure has also been upgraded, significantly reducing the total cost of ownership, and the new system has also brought many improvements in business coverage, system architecture, user configurability, and interface integration, improving its ability to respond to market changes.
Behind the group of comparative data, it is not only the most direct embodiment of efficiency improvement, but also the best footnote for the new core system of "Kunteng" to empower terminal business and improve user satisfaction.
In the context of the new era, GAC-SOLI Auto Finance, as a steady pioneer in the field of auto finance, has brought an epoch-making new core system of "Kunteng" to the industry by accurately grasping the pulse of the market, actively deploying green finance and digital transformation, which not only realizes its own leapfrog development, but also injects strong impetus into the transformation and upgrading of the automobile industry, and becomes an important engine to promote the high-quality development of the automobile industry.
Looking ahead, with the continuous expansion of the new energy vehicle market and the in-depth application of digital technology, auto finance companies will have a broader space and more abundant means to empower the industry and serve consumers. It is believed that with the help of the new core system of "Kunteng", GAC-SOLI Auto Finance will usher in a better tomorrow, and China's auto finance industry will usher in a better tomorrow.
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