[Shenzhen, China, September 13th] The Asian Banker recently announced the winners of "The Asian Banker Financial Technology Innovation Awards" — one of the most influential financial industry awards in the Asia-Pacific. The CMBC Credit Card-Huawei Big Data Joint Innovation Lab took home China's Best AI Innovation Lab award.
World-renowned bankers, consultants, and scholars go through a rigorous evaluation process to select each year's winners. Dubbed as the industry's Oscar's, this is the most stringent finance industry award in China, signaling both the lab's relevance and recognition.
The CMBC Credit Card-Huawei Big Data Joint Innovation Lab was established by the Credit Card Center of China Minsheng Bank (CMBC Credit Card) and Huawei in November 2019, drawing on their respective strengths. The lab focuses on innovative cooperation in the fields of big data, 5G, and AI. It combines technology and practice — through extensive big data knowledge of HUAWEI CLOUD FusionInsight and the industry knowledge and experience of CMBC Credit Card. Through this, the lab explores the application of technologies like machine and deep learning in credit cards, building industry-leading intelligent data solutions.
HUAWEI CLOUD uses ModelArts and FusionInsight to work with CMBC Credit Card to resolve pressing industry issues, such as data access, integration analysis, and the convergence of data, systems, and services. This allows CMBC Credit Card build AI capabilities in various fields.
CMBC Credit Card evolves with the world. Following its "data-driven technological innovation" strategy, the company's systems and mechanisms are undergoing a comprehensive digital transformation. Through the CMBC Credit Card-Huawei Big Data Joint Innovation Lab, CMBC Credit Card has developed a series of innovative and industry-leading data decision-making algorithms, shortened the iteration cycle of algorithms by more than 30%, and empowered a variety of business areas to go digital, including precision marketing, intelligent risk control, and optimized management.
In the future, CMBC Credit Card will continue to work closely with HUAWEI CLOUD to explore financial technology through services and products such as data governance, cloud native data lake, and cloud data warehouse, accelerating the digital transformation of the credit card business.