Wang Jian, Bank of Beijing: Actively explore four aspects of innovation in mechanism, model, technology and organization

21st Century Business Herald reporter Zhu Yingzi Beijing report On October 21, Wang Jian, vice president of the Bank of Beijing, pointed out in his speech at the parallel forum of the 2021 Financial Street Forum Annual Conference "Digital Economy and Financial Technology" that finance is the core of the modern economy, at present, commercial banks actively respond to the national strategy and regulatory requirements, take the initiative to assume the major responsibility of supporting economic transformation and development, accelerate the innovation of financial services and products, build an ecology, build a scene, implement the inclusive financial strategy, develop green financial business, and increase financial technology investment To effectively pave the way for the development of the real economy. However, there are still problems and challenges in the real economy of financial services in terms of supply and demand matching, innovation efficiency, innovation ability, and risk management.

Taking the Bank of Beijing as an example, Wang Jian said that commercial banks should actively explore innovations in four aspects: mechanism, model, technology and organization, and build a high-quality development engine to support the high-quality development of the real economy.

<h4>Improve the innovation mechanism and provide financial innovation system guarantees</h4>

Financial innovation and regulatory compliance are two-sided and inseparable.

In 2021, Bank of Beijing set up a financial innovation laboratory as a carrier to further lead and promote the digital transformation of the whole bank, and create a "test field" and "new growth pole" for the innovation and transformation of the whole bank. At the same time, Bank of Beijing actively participates in the pilot work of The "Regulatory Sandbox" of Financial Technology in Beijing, deepens the application of Financial Technology, and empowers financial services to improve quality and efficiency.

<h4>Accelerate organizational change and consolidate the foundation for serving the real economy</h4>

On the one hand, we integrate resources such as products, operations, risk compliance, technology, and data with the guidance of customer group operation and product operation, and coordinate horizontally to achieve rapid iteration of innovation and improve the ability to quickly serve the real economy.

On the other hand, for vertical market segments, promote professional operations and achieve end-to-end docking of industries and the real economy. Set up special teams and departments, combined with their own resource endowments, allocate resources for specific entity industrial chains, innovate management mechanisms and assessment methods, combine the existing knowledge and laws of the real industry, embed financial products and services into the industrial chain, extend non-financial value-added services, continuously improve total factor productivity, and promote the deep integration and common innovation of industry and finance.

<h4>Promote business innovation and build a diversified financial service system</h4>

Financial innovation needs to break through the inherent shackles of thinking, break the traditional framework, continue to explore new business models, and improve comprehensive service capabilities. Bank of Beijing has always adhered to the strategic positioning of "serving the local economy, serving small and medium-sized enterprises, and serving the people" and actively carried out business model innovation.

In the field of inclusive finance, around the credit financing needs of small and medium-sized enterprises, create an exclusive APP for inclusive finance "Beijing Butler", customize the exclusive program of online services according to the differences in the needs of various inclusive customers, achieve one-to-one channel docking, and innovate specific customer products, reflecting the exclusivity, difference and characteristics of the service.

In the field of green finance, we actively assist the "14th Five-Year Plan" to build a green ecosystem, practice green financial services, support the development of green industries, issue the country's first "carbon neutral" small and micro financial bonds in the interbank market, establish a "green finance +" green finance brand, and establish the first branch in Beijing with the name of "green".

In the field of science and technology finance, we will build products that serve the whole cycle of small and medium-sized enterprises, formulate exclusive financing schemes for enterprises on the new third board, launch special credit products such as growth loans, smart rights loans, and three board fixed loans, and build a "little giant" product system of more than 50 kinds of products, effectively supporting the construction of Beijing International Science and Technology Innovation Center.

<h4>Deepen technological innovation and expand the boundaries of serving the real economy</h4>

Through the construction of the open banking platform, Bank of Beijing focuses on building a scene ecology in five fields, such as smart education, smart medical care, smart parks, digital government affairs, and digital cultural creation, and outputs scientific and technological capabilities such as container cloud, big data, and artificial intelligence, and truly realizes "where the needs of customers are, where the addition of open banking is done".

At the meeting, Wang Jian also stressed that while exploring the above mechanisms, organizations, models and technological innovations, it is necessary to adhere to the "both hands must be grasped and both hands must be hard" in innovation and risk prevention, strengthen the bottom line thinking of compliance management, strengthen internal control and compliance management, and establish the concept of compliance creating value and compliance everyone is responsible.

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