A leading commercial bank in the coastal province of Jiangsu hopes that the latest fintech developments can drive expansion of its customer base as well as expand levels of financial inclusion.
Jiangsu Changjiang Commercial Bank has turned to Chongqing-based fintech company MS Finance (马上消费金融) for the provision of a comprehensive mobile-end solution plan, involving the development of new channels for online loan applications, e-account management and post-loan management.
According to a report from Ccidnet.com MS Finance is also providing Jiangsu Changjiang with an online customer sales plan, which uses technology to help traditional banks to better service small and micro-enterprises as well as improve financial inclusion.
A senior executive from Jiangsu Changjiang said that the solution plan provided by MS Finance would enable it to provide loans to small and micro-enterprises more rapidly and improve financial inclusion for businesses, as well as help to achieve the strategic goal of “creating an online Changjiang Bank.”
The co-operative arrangement between Jiangsu Changjiang and MS Finance is significant of the emerging trend in China of new fintech companies providing technological solutions to established financial institutions.
MS Finance is a Chongqing-based fintech company that uses technologies including big data, artificial intelligence, bio-recognition, cloud computing and blockchains to provide “one-stop” financial services for clients.
The company says that it has independently developed over 400 core systems, as well as applied for around 150 patents.