Li Delin, Vice President of China Merchants Bank: Enterprise digitalization has shifted from island-based online and informatization to a new stage of interconnection

Per reporter: Pantene Per editor: Liao Dan

In recent years, with the accelerated integration of digital emerging technologies such as 5G and industrial Internet into various financial business scenarios, banks have ushered in new development opportunities for corporate business. From retail as king to the coordinated development of retail to public, the banking industry is actively exploring the transformation and upgrading of public business through digital empowerment. In this context, banks that take the lead in embracing and practicing the digital transformation of public business will gain more market discourse.

Li Delin, vice president of China Merchants Bank, said at the 2021 China Merchants Bank Enterprise Digital Service System Conference held on August 24: "Enterprise digitalization has shifted from islanded online and informatization to a new stage of data integration and interconnection between enterprises. ”

<h2>The development of the consumer Internet has completely changed the behavior habits of C-end consumers</h2>

In the past, banks have been passively adapting to the changes brought about by the Internet information age. The post-epidemic era is full of uncertainties, and the accelerated emergence of historical opportunities and new technologies such as the Internet of Everything, 5G, Industrial Internet, Digital Twin, "Double Cycle" and "Carbon Neutrality" has spawned new formats, new industries and new business models. In the face of a rapidly changing market environment, every enterprise that pursues long-term development needs to carry out digital transformation at the pace of the times, carry out self-subversion and innovation in strategy, organization, management, service, talent, etc., and enhance market adaptability and relative competitive advantage.

Why should banks actively embrace transformation and digitalize their public business?

Hou Weirong, general manager of the transaction banking department of China Merchants Bank, said that the digital economy is the most important economic form in the world today. Last year, China's generalized digital economic activities have accounted for 38.6% of GDP, China is the world's leading consumer Internet, the development of consumer Internet has made C-end consumers' behavior habits completely changed, and everyone has put forward higher requirements for the products and services provided by enterprises.

Hou Weirong believes that another reason for digital transformation is the progress and application of new technologies such as the Internet of Things, artificial intelligence, blockchain, and big data, which provide digital dimensions for enterprises in many fields.

It is reported that China Merchants Bank has formed a corporate service matrix composed of seven channels: enterprise online banking, enterprise APP, Mini Program, official account, enterprise service portal, cloud direct connection and CBS. The enterprise digital service system has served more than 2.1 million enterprise customers, more than 1.45 million monthly active customers, with an annual transaction volume of more than 280 million and a transaction amount of more than 130 trillion yuan, and more than 90% of the services support self-service online processing.

<h2>A number of banks are digitally deploying the public sector</h2>

According to the "White Paper on the Development of China's Digital Economy", the scale of China's digital economy will expand to 39.2 trillion yuan in 2020, which is one of the core growth poles of the national economy; the growth rate of the digital economy in 2020 will reach 9.7%, far higher than the nominal GDP growth rate of about 6.7 percentage points in the same period, which will play an important role in winning the double victory of epidemic prevention and control and economic and social development.

It is worth mentioning that the dominance of industrial digitalization in the digital economy has been further consolidated, and China's digital industrialization will account for 19.1% of the digital economy in 2020, and industrial digitalization will account for 80.9% of the digital economy, which will output a strong impetus for the sustained and healthy development of the digital economy.

The reporter noted that a number of banks have carried out digital layout in the public sector. In addition to China Merchants Bank, Ping An Bank's semi-annual report data also shows that its digital pocket has accumulated 4.8733 million registered operating users; in addition, Bank of Shanghai also pointed out in the semi-annual report that it has innovated product functions such as online re-factoring, online commercial bill guarantee, and "uplink e-chain" in the company's loans.

"In the era of digital economy, no one person or any organization is an island." The relevant person in charge of China Merchants Bank said, "We continue to open up the output of core financial services such as payment and settlement, cash management, supply chain financing, etc., and achieve boundless connection and co-construction of ecology with enterprises and partners, becoming the most trusted digital transformation partner for customers." ”

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