Xinfei Technology launched the ＂Star Project＂ to empower business growth with data governance.
In recent years, the financial management department has continuously promoted related work in promoting the digitalization process of China’s financial industry as a whole, encouraging the innovation and application of financial science and technology through various measures, and improving the efficiency of financial services in the real economy. Among them, in January 2022, the People’s Bank of China issued the Financial Science and Technology Development Plan (2022-2025), which proposed to promote the digital transformation of finance with high quality and improve the modern financial system adapted to the development of digital economy.
On January 26th of the same year, the former General Office of China Banking and Insurance Regulatory Commission, China issued the Guiding Opinions on the Digital Transformation of Banking and Insurance Industry, proposing that by 2025, the digital transformation of banking and insurance industry will achieve remarkable results. Digital financial products and services have been widely popularized, financial innovation based on data assets and digital technology has been practiced in an orderly manner, the development ability of personalized, differentiated and customized products and services has been significantly enhanced, and the quality and efficiency of financial services have been significantly improved.
"The core of digitalization lies in data governance, and the ability of efficient and compliant data governance has become the core competitiveness of the financial technology platform". The person in charge of big data of Xinfei Technology said. "As a participant in the pan-financial field, Xinfei Technology attaches great importance to the improvement of data governance capabilities, and is guided by user needs to continuously deepen the practice of AI big model technology."
Some experts in the industry believe that under the background of the new round of scientific and technological revolution and the in-depth development of industrial transformation, deepening digital transformation is an inevitable choice for the financial industry to practice the innovation-driven development strategy. Under the continuous guidance of policies, financial institutions will continue to increase the exploration of digital applications represented by large-scale model technology. As a financial technology platform that provides digital empowerment for financial institutions, Xinfei Technology has also launched the "Star Project", relying on AI big model technology to promote the safety and compliance of data processing tools in more scenarios.
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With the comprehensive penetration of AI in production, inventory, transportation and other aspects of the industrial chain, IDC predicts that by 2026, about 50% of the global top 2000 enterprises will use AI tools to support industrial chain process design, and the operating costs of enterprises will be reduced by at least 5%. By 2026, 25% of financial institutions will use generative AI to help financial services deeply integrate in all aspects of the industrial chain, such as production, manufacturing, circulation and consumption.
In the past year of 2023, with the tsunami wave of big model set off by ChatGPT sweeping the world, AI big model technology has become the focus of exploration and layout in many industries, and financial technology platforms are no exception.
The application of Xinfei Technology around AI big model technology has already started, and its self-developed aviation financial cloud has become the choice of many customers in the early days of the company’s start-up. "Xinfei Technology, as a financial technology enterprise that started from the air travel industry, designed a system for the air travel industry with high risk control management requirements and high service efficiency requirements in the early days of its establishment, and it was successfully verified by the market." Xinfei Technology said, "At present, with the extension of the company’s business to smart credit technology in the consumer field, the business practice of relying on AI big model technology transformation has also been carried out."
Taking the actual business scenario as an example, the post-loan operation system independently designed by Xinfei Technology has realized the "black box labeling" of massive platforms through the application of the previous feature platform. "The data has gone to the right place, and the labor has no right and no need to interfere." The relevant person in charge of Xinfei Technology’s post-loan system said. Relying on this system scheme, massive user incoming content will be quickly diverted to different pipelines according to different content themes. The content theme of "library collision" with the tags in the database can be solved before manual wiring, which greatly improves the speed of user wiring and the efficiency of problem solving.
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"The value of data lies in landing to actually promote the safe and efficient development of business. Data that does not land or cannot land is a tangled spider web that is a headache. " Focusing on data governance, the person in charge of data governance of Xinfei Technology gave an easy-to-understand example.
It is understood that the "Star Project" that Xinfei Technology is currently promoting aims at finding correlation logic in tens of thousands of data "stars" and modules "oceans" and establishing effective data labels to provide decision-making reference for the promotion and cooperation institutions of related businesses.
At present, the "Star Project" relies on cloud native technology modules and dozens of high-stability data processing tools to build functional modules covering data management, online development, model training, forecasting and simulation, and can be connected with customer acquisition marketing, operation management and risk control in smart credit business lines to realize one-stop data management, empower enterprise management efficiency and reduce enterprise management costs.
According to the plan, in the next step, the "Star Plan" of Xinfei Technology will build data interconnection between different business modules and between different business segments, improve the stability and reliability of data management, and empower the safe and efficient development of business.
This article comes from: financial circles