Fu Wanjun, President of China Everbright Bank： Digital Convenience Service to Improve the Social Public Service Level in the Digital Economy Era
With the rapid penetration and efficient application of digital technology in all walks of life, digital economy has played a key role in promoting the balance of social public services, changing the traditional market competition pattern, reconstructing the industrial development model and cultivating new economic growth points.
In line with the development trend of digital economy, the country’s digital work in the field of social governance and public services has also defined the "timetable" for development. In January, 2022, the State Council specifically mentioned the development goal of digital public services in the Tenth Five-Year Plan for Digital Economy (hereinafter referred to as the Plan), demanding that digital infrastructure should be widely integrated into production and life by 2025, and its supporting role in government services, public services, people’s livelihood security and social governance will be further highlighted, and it is clearly pointed out that special projects should be built to upgrade social services digitally.
For banks and other financial institutions, by giving full play to the advantages of platform ecological scenes, excavating and enhancing data value, focusing on convenient financial services and other measures, we can actively and effectively help improve the digitalization level of public services nationwide, and digital convenience services are becoming an important link between the financial industry and people’s livelihood services.
Open sharing, integration and symbiosis accelerate the construction of multi-scene ecological service system
In recent years, Internet companies with huge ecological scenes have gradually embedded financial services into the ecology. Therefore, it is urgent for the banking industry to grasp the key word of ecological scene service and actively create a new ecology of banking financial services by means of digital innovative technology.
On the one hand, banks should select specific scenes such as convenience, travel and health as the starting point, trigger customer experience and behavior through situational interaction, and bring about the superposition of customer flow, capital flow and information flow; On the other hand, through the combination of "introduction integration" and "output sharing", we can drive the reconstruction of banking service system and value creation mode, promote the sharing of resources between the two sides of open cooperation, make banking services seamlessly embedded in customers’ production and life scenes, and realize a win-win situation for users, banks and partners.
In recent years, China Everbright Bank has actively implemented the mission of the national team of financial central enterprises, the professional team of wealth management and the vanguard of people’s livelihood services, and achieved remarkable results in serving the national economy and people’s livelihood, developing inclusive finance and broadening new areas of distinctive services. Among them, Everbright Cloud Payment, as a financial technology innovation experimental field created by Everbright Group and China Everbright Bank in the field of convenience ecology, has now developed into a leader in the convenience payment industry in China and a pioneer in digital inclusive finance.
Everbright Cloud Payment integrates all kinds of payment services, such as individual payment, enterprise payment and government payment, and payment and settlement functions in China by building a convenient service and an online ecosystem in inclusive finance, and builds a digital convenient payment industry ecology of "open sharing, harmony and symbiosis" with the scene of convenient service.
In this process, all participants in the payment ecology break through barriers, cross-border cooperation, revenue sharing, improve efficiency, meet users’ diversified service needs in different scenarios, and constantly expand new value growth points in industrial transformation and integration. At present, Everbright Cloud’s convenient payment collection service has been exported to more than 660 large-scale institutions such as major network platforms, financial peers and government platforms, successfully building a digital inclusive service pattern.
Strengthen the supply of high-quality data elements and innovate the data development and operation system
In the era of digital economy, data has become a new factor of production after labor, capital, land, knowledge, technology and management. The Plan also proposes to support market players to carry out data collection according to laws and regulations, focusing on data labeling, cleaning, desensitization, declassification, aggregation and analysis, so as to improve the processing capacity of data resources and cultivate and expand the data service industry. Because data has the advantages of replicability, sharing and unlimited supply, it can be widely used in social public services, and can better meet the needs of urban and rural residents for differentiated services such as government services, people’s livelihood services and welfare protection.
As the leading open convenient payment platform in China, Everbright Cloud has accumulated more than 12,000 convenient payment services, covering dozens of fields such as water, electricity, gas, heating, communication, cable TV, education, transportation, social security, medical care, etc. In 2021, the number of active users exceeded 560 million, and the number of service visits reached 2 billion. Through providing online payment service for users all over the country for many years, it has accumulated massive dynamic payment behavior data, which contains great customer experience improvement and business operation value.
At present, Everbright Bank is also actively promoting the massive payment data management project of cloud payment, exploring the application of payment data in the fields of intelligent product service, intelligent operation and intelligent risk control, and has initially formed smart data products such as smart big screen, intelligent payment reminder and portrait of paying users. In the next step, we will continue to keep up with the development trend of the digital economy. Under the requirements of the Data Security Law, the Personal Information Protection Law and other relevant laws and regulations, we will continue to improve the intelligent application level of payment data on the premise of ensuring data security and protecting users’ privacy, actively explore the application scenarios of payment data, give play to the value of data elements, and create greater social and commercial value.
Focus on digital convenience service and help the digital promotion project of social services
According to the report of the 19th National Congress of the Communist Party of China, in order to build a network power, a digital China and a smart society, the Plan requires to continuously improve the digital level of public services, including improving the efficiency of "Internet+government services", improving the digital inclusive level of social services, promoting the integration of digital urban and rural areas, and creating a new digital life with wisdom sharing, covering many fields such as smart education, digital health services, smart communities and social security services.
Taking social security services as an example, Everbright Cloud Payment has actively implemented the practical activity of "I do practical things for the masses" in recent years, helping local governments at all levels to deepen the reform of "streamline administration, delegate power, strengthen regulation and improve services", increase the service of "One Network Office", and further promote various government payment projects such as social security collection, focusing on creating the WeChat service applet of "Social Security Cloud Payment", which has now supported urban and rural residents and flexible employment groups in 27 provinces (autonomous regions and municipalities directly under the Central Government) such as Shanxi and Hebei. In 2021, more than 180 million people paid social security on their mobile phones through Everbright Cloud, and the payment amount exceeded 77 billion yuan, which solved the inconvenience of going back and forth for people in different places and remote areas.
In the field of smart education, Everbright Cloud Payment Peace of Mind Platform relies on a mature payment system to provide a variety of fund management services and teaching management services such as course management, order management and news notification for teaching and training institutions. By the end of 2021, Everbright Cloud paid a total of more than 2,000 educational examination items, and the number of payment collections exceeded 7 million; In the field of digital health services, Everbright Cloud’s medical cloud platform has realized online and "one-stop" processes such as registration and filing, inter-clinic payment and discharge settlement. At present, medical cloud services have been launched in 17 cities, and in 2021, the number of payment collections exceeded 1.2 million; In the field of smart community, one end of Everbright Cloud Payment Warm Heart Community Service is connected to community convenience merchants, including catering, car washing, shopping, medical care, laundry, hairdressing, etc., and the other end provides "online reservation+payment" for customers inside and around the community. One-stop community comprehensive service.
As a pillar force after agricultural economy and industrial economy, digital economy will give new momentum to the high-quality development of China’s economy. Actively serving and integrating into the construction of digital economy is not only necessary to respond to national policies and the general trend of the industry, but also an inevitable choice for banks to cope with future economic and social development. In the future, China Everbright Bank will continue to improve the research and application capabilities of financial technology, take the lead in independent innovation of modes and technologies, give full play to the role of data elements, build a digital, networked and intelligent convenient financial service system, accelerate the bridging of the digital gap between urban and rural areas and special groups, promote the integration and development of digital economy and real economy, serve the new digital life of the broad masses, and greet the convening of the 20 th National Congress and the Party with excellent results. (The author is the president of China Everbright Bank)