Tsinghua PBCSF Global Finance Forum 2017 Discussion on the General Trend of Inclusive Finance

Friday, 23 June 2017, 13:16 HKT/SGT

HONG KONG, June 23, 2017 - (ACN Newswire) - On 3 June, Tsinghua PBCSF Global Finance Forum 2017 "Economic Globalization and Financial Stability", hosted by Tsinghua University and jointly organized by Tsinghua University PBC School of Finance and Tsinghua University National Institute of Financial Research, was held in Tsinghua University. During the forum, a number of attending guests including Qiu Yong (President of Tsinghua University, Academician of the Chinese Academy of Sciences), Wu Xiaoling (Chairperson and Dean, Tsinghua University PBC School of Finance) and Chen Yulu (Deputy Governor, the People's Bank of China) conducted in-depth discussion on heated topics including financial security, financial regulations and inclusive finance innovation.

Co-founder and CEO of FINUP, Dong Qi delivered his view in the forum regarding the development of inclusive finance innovation

During the financial forum, the attending guests expressed the belief that applications of new technologies will accelerate the realization of inclusive finance. But at the same time, regulators should tighten sectoral supervision to ensure long-term industrial stability, in order to truly allow inclusive finance to benefit from new technology applications.

Li Dongrong, President of National Internet Finance Association of China indicated that, new features of digital inclusive finance in areas such as business models, technical attributes, risk characteristics have brought some unprecedented challenges in areas including risk management, digital divide, infrastructure and regulatory adaptation, which deserve high attention of inclusive finance practitioners.

In China, inclusive finance has also become the key to promoting innovation, entrepreneurship and the development of the real economy. Descriptions of inclusive finance can be found in important documents such as documents of the 2016 G20 Hangzhou Summit and the 13th Five-Year Plan, and the 2017 work report of the Central Government.

Dedicated to promoting inclusive finance, FINUP is a financial technology company rapidly rose in the FinTech trend of the past few years. In October of last year, the brand of FINUP was upgraded successfully from "Puhui Finance" to "FINUP". Not only did the upgrade imply the meaning "letting everyone enjoy simple and fair Internet financial services" of inclusive finance, it also has strengthened the Company's concept of "business driven by data and finance altered by technology" and accelerate the Company's transformation into financial technology. According to Deloitte's report, FINUP ranked second in Asia Pacific Technology Fast 500, with a three-year cumulative growth rate of 14047%.

Dong Qi, Co-founder and CEO of FINUP, also expressed his view in the forum, saying that the entire financial industry is still undergoing transformation today. As an effective complement to traditional finance, FinTech sector covers places where traditional financial institutions may not reach, in order to facilitate economic development and simultaneously stimulate the transformation of the traditional financial industry.

According to the introduction of Dong Qi, FINUP is continuing to explore applications of new technologies such as big data, machine learning and artificial intelligence in the financial sector, so as to drive forward the realization of digital inclusive finance. Specifically, "Cloud Atlas", the big data dynamic risk management ecosystem independently developed by FINUP can imitate human brain behavior through the combination of knowledge mapping and in-depth learning, in order to automatically find out risk points hidden in complex relationships and consequently potential fraud behavior.

Nowadays, under the catalysis of new technologies, digital inclusive finance is no longer a trend, but industrial revolutions taking place. In this process, FINUP is actively exploring new technology applications to accelerate the development of digital inclusive finance, as its motto "let the financial temperature" suggests.

Dong Qi also said, "We believe that not only can the finance driven and supplemented by technological innovations promote transformation of the entire Chinese economy, it can also enable China to continue to lead the world in the entire financial technological sector."

Topic: Press release summary Sectors: Daily Finance, Daily News
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