Bairong Inc, an AI-powered technology platform based in China, is providing digital solutions, including anti-fraud and loan monitoring systems, to help China Bohai Bank scale and protect its business. The solutions are powered by Bairong’s SaaS platform, which is designed to help financial institutions faster launch online businesses using Bairong’s cloud-native platform.
Zhao Hongqiang, CFO of Bairong, said, “The cooperation with China Bohai bank opens up a new starting point for Bairong, with which we will continue to explore the application of AI and Big Data in the financial sector in the future. The digital transformation in the financial sector is an ongoing and long-term shift in both technology and business models. To empower more financial initiations during this process, Bairong will build on our advantages in technology and ecosystem resources to continue optimizing our Cloud-Native SaaS platform and ramping up R&D in the emerging technologies.”
Zhao added, “In the post-pandemic era, digital adoption and automation in financial services are no longer an option for the financial sector. Instead, they have become a necessity and growth imperatives. Meanwhile, the need for digital and intelligent transformation in the financial industry is also widely recognized. Lying at the core of digital transformation is technology, while business transformation is the cornerstone underpinning the foundation of digital transformation.”
The middle platform plays a critical role in digitalizing the internal and external operations of banks. With the upgrade of the middle environment, banks can have access to, and be able to better utilize, the front and back-offices core strengths in order to boost overall operational efficiency and provide better services to their customers.
Bairong created the Cloud-Native SaaS platform, an intelligent middle platform that enables the front office to be responsive while enhancing the back-offices agility by integrating the back-end resources. It can help banks collaborate more effectively across isolated systems and decrease front-end costs, boosting their innovation capability and organizational effectiveness.