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Ping An Bank Chief Information Officer: Technology Supports Sustainability of Finance

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HONG KONG and SHANGHAI, June 30, 2023 /PRNewswire/ — Tang Jiacai, Chief Information Officer of Ping An Bank, a subsidiary of Ping An Insurance (Group) Company of China, Ltd. (“Ping An” or the “Group”, HKEx:2318; SSE:601318), attended the Asia New Vision Forum hosted by Caixin Global, and conducted a sharing on the application of applying technology to support sustainable development on multiple fronts, such as building smart banks, enhancing the security of financial data and promoting financial inclusion.

“Sustainable development is an evergreen topic. Ping An Bank’s mission is to be China’s most outstanding, world-leading smart retail bank. We practice the philosophy of sustainable development, leveraging the advantages of Ping An’s integrated finance ecosystem and technological empowerment to serve the real economy, fulfilling the corporate responsibilities of a financial services company, and making every effort to promote sustainable development.” Mr. Tang said.

Building Smart Banking 3.0 to improve customer experience

In the digital era, the ongoing evolution brought by the global technological revolution and industrial transformation, and the digital elements represented by fintech, the metaverse, the Internet of Things and virtual reality bring challenges and opportunities to the banking industry. “We are carrying the development of Smart Banking 3.0 forward, breaking away from the limitations from products and departments of traditional banks,” Mr. Tang said. “By adopting a customer-centric and data-driven mindset and exploring customers’ preferences for products and services through in-depth KYC (Know Your Customer) process, we provide smart recommendations for financial services to customers.” Ping An Bank is now using intelligent robots for simple, high-frequency, process-oriented tasks to, which enables staff to focus on more complex, high-value tasks. As of the end of 2022, approximately 99% of Ping An Bank’s centralized operations were automated and digitized. Among them, the bank’s AI service representatives provided 24-hours-a-day, seven-days-a-week service to customers, and saved RMB600 million in labor costs.

Ensuring financial data security and improving customer privacy management

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While the digitalization of data is thriving, it also comes with inherent security risks, Mr. Tang said. “China’s strict management of data security is about utilizing data effectively within a regulated framework.” He shared two examples on using data in a secure and controllable manner. Firstly, data can be secured through technology, such as establishing a secure network environment and implementing firewalls between different business divisions, he said. Data collection occurs only with customer authorization, and users can only access data that has been specifically authorized by customers. Secondly, data security can also be ensured through managerial means, such as labeling data according to regulatory requirements and implementing a tiered security management system for different data sources. Less sensitive data can be utilized more extensively, while highly sensitive data can have more protection. In 2022, Ping An Bank conducted a comprehensive security audit, which mainly covered areas such as data security management, the information security management framework and procedures, risk management for technology outsourcing, business security management, and employee behavior management. During the same period, the bank also conducted nine information security training sessions for staff, on topics such as data security, personal information protection, information security laws, and information technology outsourcing management.

Promoting financial inclusion

Ping An Bank uses its advantages in fintech, actively promotes the integration of digital technology and financial inclusion, leveraging the internet, cloud computing, big data, AI and other technologies, to improve the accessibility of financial services. As of the end of 2022, Ping An Bank’s balance of loans to small and medium-sized enterprises for inclusive finance was RMB528.226 billion, accounting for 17.11% of the total loan balance, an increase of 38.22% from 2021. For small and micro enterprises, Ping An Pocket Bank App is an innovative online service platform developed by Ping An Bank, providing various benefits, such as waivers for payment and settlement fees, tax, personnel and legal services fees, and loan interest. As of the end of 2022, there were more than 13 million registered users of the Pocket Bank App and the number of transaction users surpassed 4.7 million. For small and medium-sized banks, Ping An Bank launched an online platform to address the pain points of small and medium-sized banks in areas lacking financial services, such as insufficient product supply, and integrated market resources to provide a wealth of products such as funds, bonds and financial management. By the end of 2022, Ping An Bank had served 1,160 small and medium-sized banks, including 1,010 rural financial institutions. Technology has also enabled Ping An Bank, through collaborations with peers, to provide indirect services to small and micro enterprises and farmers in remote counties and villages without increasing its physical branch network.

About Ping An Group

Ping An Insurance (Group) Company of China, Ltd. (“Ping An” or the “Group”) strives to become a world-leading integrated finance and healthcare services provider. With nearly 229 million retail customers, Ping An is one of the largest financial services companies in the world. Under the technology-driven “integrated finance + healthcare” strategy, Ping An provides professional “financial advisory, family doctor, and elderlycare concierge” services. Ping An advances intelligent digital transformation and employs technologies to improve the quality and efficiency of its financial businesses and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of 2022, Ping An had RMB11,137,168 million in total assets. The Group ranked 16th in the Forbes Global 2000 list in 2023 and ranked 25th in the Fortune Global 500 list in 2022.

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For more information, please visit www.group.pingan.com and follow us on LinkedIn – PING AN.

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Blockchain Press Releases

MALAYSIAN FOUNDERS BRING WEB3 TO MALAYSIAN SHORES WITH MALAYSIAN BLOCKCHAIN WEEK (MYBW) 2024

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KUALA LUMPUR, Malaysia, July 15, 2024 /PRNewswire/ — The country’s inaugural Malaysia Blockchain Week (MYBW) is poised to bring mainstream Malaysia into the world of Web 3. MYBW boasts strong Malaysian roots in an international digital space, featuring Malaysian founders and bringing together key Malaysian industry players well-known in the digital space.

The week-long event hosted by Malaysian Web3 powerhouse Lydian Labs will be held in partnership with the Malaysia Digital Economy Corporation (MDEC) and kicked off by Minister of Digital, YB Tuan Gobind Singh Deo.

MEET THE MALAYSIAN FACES OF THE BLOCKCHAIN SPACE

The Web3 space transcends international borders, attracting dedicated Malaysians to push the unexplored frontier of the industry.

As such, many Malaysians have become industry giants in the blockchain space, commanding significant influence and expertise in the industry. Despite their elusive real-life presence, lucky participants at MYBW will be able to rub shoulders with these Malaysian founders of key Web3 companies.

Youths and young-at-heart builders keen on exploring Web3 ventures as well as seasoned international investors will benefit from the congregation of blockchain experts and Web3 veterans.

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Expect to see local industry giants at MYBW, who will be present in support of the Malaysian-led initiative as well to provide unique industry insights at the event’s keynote presentations and panel discussions.

Present at the event will include Matthew Tan, the founder and CEO of the leading Ethereum block explorer, API and Analytics Platform, Etherscan.io. Prior to Etherscan, Tan founded and developed one of the earlier token-based blockchain explorers, Blockscan, for Counterparty, a smart contracts blockchain built on top of Bitcoin. He has around 15 years of industry experience, consulting and developing bespoke line of business solutions when he was a co-founder of a data/web applications solutions provider.

Next is Bobby Ong, the co-founder and COO of CoinGecko, an analytics platform for tracking cryptocurrencies and blockchain assets. CoinGecko was established in April 2014 and is one of the largest cryptoasset data aggregators in the world. Additionally, Ong is a contributing author in two digital currencies books – Handbook of Digital Currency, 1st Edition and Handbook of Blockchain, Digital Finance, and Inclusion, Volume 1. He was also included in the Forbes 2019 30 Under 30 Asia list and graduated with a Bachelor of Science in Economics from University College London in 2012.

Other Malaysian founders include, but are not limited to:

  • Siong, co-founder of Jupiter, a decentralised exchange aggregator on the Solana blockchain platform using an extensive liquidity network and advanced algorithms.
  • Shawn Chong, co-founder of Salus, a holistic Web3 security company with experience in traditional and blockchain security focusing on user protection and strategic initiatives at the intersection of blockchain and cybersecurity.
  • TN Lee, founder of Pendle Finance, a DeFi platform that enables users to tokenize and trade future yield on Ethereum assets.
  • Dr Ian Tan, co-founder of Lydian Labs, a full stack Web3 Solutions Provider focused on advisory, tech, and marketing specialised in the APAC region.
  • Nicole Yap, founder of 8SIAN NFT which artfully tokenizes the rich tapestry of Asian heritage into NFTs which celebrate the history and depth of Asian women while building a global and inclusive Asian community.
  • Julian Koh, co-founder of Aevo, a high-performance decentralised derivatives exchange focused on options.

These Malaysian powerhouses will also be joined by international industry names such as Chess, CEO of GM Network; Dr Kang Li, CSO of CertiK; Victor Ji, Co-Founder of Manta Network; Gracy Chen, CEO of Bitget; Yoann Turpin, co-founder of Wintermute; Moshe, chairman of Oobit; Mark Rydon, CEO of Aethir; John Yao, CEO of Team Secret and many more.

MINTING THE FUTURE OF MALAYSIAN WEB3

MYBW will set the tone and future for Web3 growth and widespread adoption in Malaysia, featuring 33 panel discussions, 15 keynote talks, and more than 150 speakers which will open the curtain on important blockchain topics such as regulatory issues, the decentralised finance & syariah digital economy, blockchain traceability, NFTs & Web3 Gaming, and the impacts of Artificial Intelligence (AI) on the Malaysian landscape.

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The event, anticipated to draw more than 2,500 participants, will facilitate discussions between key stakeholders, bringing together decision-makers from the government and industry leaders to mint the future of Web3 for Malaysia.

Tickets for MYBW are already available on the official website.

EVENT DETAILS:

Date: 31 July – 1 August 2024 | 10am – 6pm
Location: World Trade Centre Kuala Lumpur (WTCKL)

Website details: https://myblockchainweek.com/

About Lydian Labs

Lydian Labs is a full stack Web3 solutions provider focused on the APAC region and China, providing 3 main pillars of services: Advisory, Tech, and Marketing.

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####

To know more about Lydian Labs, visit https://bit.ly/LydianLabs or find them on X (formerly known as Twitter).

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Blockchain Press Releases

BlockScholes X Bybit Crypto Derivatives Analytics Report Reveals Investors More Bullish on ETH Than BTC

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DUBAI, UAE, July 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in partnership with BlockScholes, has released its latest Crypto Derivatives Analytics Report, highlighting a notable divergence in investor sentiment between Ethereum (ETH) and Bitcoin (BTC).

The report, analyzing market trends and trading signals across spot trading volume, futures, options, and perpetual contracts, underscores a growing bullish sentiment toward ETH. Key findings indicate that investors are increasingly optimistic about ETH, particularly in anticipation of the imminent launch of the first Ether Spot ETFs in the United States. This optimism is reflected in ETH’s sustained volatility premium over BTC, which has persisted amid heightened market activity.

Key Highlights from the Report:

  • Bullish Sentiment Toward ETH: BlockScholes’s Senti-Meter Index reveals a bullish sentiment among investors toward ETH compared to BTC. This sentiment is influenced by expectations surrounding the imminent ETF launch for Ethereum.
  • ETH Futures Outperforming BTC: Despite recent market fluctuations, ETH futures have shown a quicker recovery in open interest compared to BTC. This recovery trend suggests a robust market narrative focused on ETH’s ETF prospects.
  • Strong Perpetual Trading in ETH: Significant trading volumes in ETH perpetual contracts indicate substantial long positions, possibly driven by strategic positioning ahead of anticipated market developments.
  • High ETH Option Volatility: ETH options market volatility remains elevated, especially in anticipation of ETF approval, contrasting with BTC options, which exhibit a more defensive posture.

In response to the findings, Bybit’s Head of Institutions, Eugene Cheung, commented: “The latest data underscores ETH’s resilience and market appeal as we approach key regulatory milestones. Investors are demonstrably positioning themselves favorably amidst growing market expectations.”

#Bybit / #TheCryptoArk

About Bybit

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Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.

For media inquiries, please contact: [email protected]

For more information, please visit: https://www.bybit.com

For updates, please follow: Bybit’s Communities and Social Media

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Blockchain Press Releases

Apply and Win the Dream Getaway to Austria and Cutting-edge Gadgets with Bybit Card

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DUBAI, UAE, July 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest crypto exchange by trading volume, is excited to announce the launch of its Bybit Card campaign, offering users the opportunity to win extraordinary prizes, including a dream getaway to Austria and cutting-edge tech gadgets including an iPhone 15 Pro and more.

To participate in the campaign, users need to apply and spend at least 500 EUR/USD with their Bybit Card. By completing both steps, they will automatically enter the Lucky Draw, where they stand a chance to win a guaranteed prize. The first 1,000 users who fulfill the requirements will be eligible for the Lucky Draw.

The campaign will run from Jul 15, 2024, 10:00 AM UTC to Aug 18, 2024, 11:59 PM UTC. During this period, users can take advantage of this exciting opportunity to win fantastic rewards.

In addition, VIP users will receive a 30 EUR/USD card bonus, enhancing their overall Bybit Card experience.

Joan Han, sales and marketing director at Bybit, said, “With the Bybit Card, individuals can seamlessly incorporate digital finance into their everyday lives, whether they’re shopping online or covering routine expenses. By providing users with convenience and flexibility, we aim to enhance their financial experiences. Furthermore, we are thrilled to introduce a range of diverse rewards and campaigns to our global user base, thereby creating greater accessibility and convenience for utilizing digital assets.”

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The Bybit Card blends the world of digital finance with everyday transactions, offering users a seamless spending experience. For more information about the Bybit Card and how to apply, visit:https://www.bybit.com/en/promo/campaign/Apply-Card-Win-Big

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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