Digital transformation key for the future
Digital transformation will be the core part of the future business model and the foundation of business strategy for China's financial institutions, according to industry insiders at a Shanghai forum.
Looking back over the past year, driven by technological innovation, the decline of economic growth and the impact of COVID-19, digitalization has become the common consensus of all walks of life, and a series of major changes will take place in financial industry, said Chen Shengqiang, CEO of JD Digits at the company’s forum on asset management technology.
Digital transformation promoted by financial technology will run through all the changing trends and accelerate the digital process of China's financial services industry, he said.
Chen believes that through industrial digitalization, finance and other sectors could be more closely connected, and a new scene for financial institutions to create growth could be set up.
At the same time, real industries could get better financial services.
“What JD Digits brings to finance and various industries is the all-round service of ‘Technology, Industry plus Ecosystem’, that is, the mode of ‘Tie’.”
For financial institutions, digital transformation is the core part of their future business model and the foundation of their business strategy, which needs to be comprehensively reshaped from the aspects of technology, application, business scenarios and industrial ecology, the Beijing-based company said.
It has set up two financial digital service systems, T1 Financial Cloud and JT² Asset Management Technology Platform, which can provide financial institutions with comprehensive services integrating digital technology and digital growth.
JT², dubbed the "Aladdin of the next generation,” is a new digital operating system with more localization, intelligence and openness.
Aladdin is investment technology utilized by American asset manager BlackRock to bring efficiency and connectivity to institutional investors and wealth managers.