Building Digital Financial Service Capability Bohai Bank actively carries out the mission of serving the real economy.
The real economy is the foundation of a country’s economy and the source of wealth. Standing at a new historical starting point, Bohai Bank Co., Ltd. (hereinafter referred to as "Bohai Bank") profoundly grasps the strategic task of "focusing on the real economy", takes digital transformation as the core strategy of the bank’s transformation and development, builds digital financial service capabilities, promotes the deep integration of the digital economy and the real economy, fulfills the mission of serving the real economy, and has made a series of effective practices in digitalization of public business.
Exploring the new kinetic energy of public digital deep water area to stimulate service entities
Bohai Bank actively explores the deep-water area of digital transformation of corporate business, adheres to customer-centeredness, taps customer’s scene demand by combining resources, environment and its own characteristics, digitally transforms corporate business processes such as supply chain finance, cross-border finance, cash management and inclusive finance, consolidates and enhances corporate business advantages, steadily improves the ability and level of serving the real economy, and builds core competitiveness in the new era.
Since 2022, Bohai Bank has made remarkable achievements in the one-stop online service of supply chain finance, and successively launched the "electronic domestic certificate+forfaiting" combination boxing products and electronic letter of guarantee business, from effectively solving the financing problems of small and medium-sized enterprises to helping enterprises to resume work and production efficiently. It is understood that the bank’s first electronic forfaiting business has been successfully launched in Shenzhen Branch recently, and it takes less than one day from issuing the L/C to financing and lending, providing customers with a service experience of "staying at home, being efficient and convenient".
In the cash management business, Bohai Bank, as the "first batch" pilot financial institutions of Shanghai Bill Exchange, successfully put into operation a new generation of bill business system in November 2022, leading the bill business into a new stage of digital transformation and development. The bill system follows the enterprise-level modeling method, fully implements the service requirements of "customer-centered, creating the best experience" of Bohai Bank, and makes full use of digital technology to create a comprehensive risk control system, and establishes a full-process risk prevention and control mechanism before, during and after lending, so as to protect the business compliance development.
In cross-border financial business, Bohai Bank launched a brand-new cross-border payment brand-"Boyin Global Express". Aiming at the pain point that it is difficult for customers of cross-border payment business to control the arrival period and payment status of cross-border remittance, this product accurately informs customers of the remittance, arrival time and amount through the online "information notification housekeeper" service, which realizes the full transparency of cross-border remittance expenses and the traceability of the whole process of remittance status, and provides customers with a new online cross-border payment experience with faster transaction speed, higher transparency and stronger security. On December 8, 2022, when the product was launched, Bohai Bank Tianjin Branch successfully handled a cross-border remittance business on behalf of a large chemical import and export enterprise in Tianjin, and received a notice from remittance to payment within 10 minutes. The product experience was highly recognized by customers.
Providing inclusive services with temperature to help small and micro enterprises move forward steadily.
Firmly shouldering the responsibility as a state-owned financial institution, Bohai Bank has closely responded to national policies, accelerated the development of inclusive finance with the application of big data, strengthened the focus of customer groups, accelerated the iterative upgrading of products, and helped small and micro enterprises "climb over the hill".
Bohai Bank makes full use of financial technology to accelerate product innovation and upgrading. On the basis of deepening the tax-bank cooperation mechanism, the bank has innovatively developed a variety of online credit products such as "Boye Loan", "Boyin Business Loan" and "Boyin Merchant Loan", which can accurately evaluate the operation of small and micro enterprises through multi-dimensional data analysis of enterprise tax payment, tax rating, tax punishment, industry and commerce, justice and credit reporting, with the characteristics of full-line process, accurate quota and rapid approval, effectively meeting the financial service needs of small and micro enterprises, and constantly
In addition, by integrating business models such as industrial chain and user circle, Bohai Bank has built a new circle-chain financial ecology with symbiosis and win-win based on big data resources. For example, in the process of cooperation with a cross-border logistics company, based on its digital logistics platform, the bank integrates platform tax data, customs declaration data and logistics data, and embeds merchant freight payment and tax payment links into the inclusive credit service, which becomes a "cross-border freight loan" that can be applied and called on demand. In the future, we will continue to connect overseas warehouse data through enterprise PaaS/SaaS services, introduce overseas warehouse service providers and overseas logistics providers, establish a credit system combining "material credit" and "digital credit", and continue to grow and evolve into a richer jungle ecology.
Building a "financial+non-financial" ecology based on the whole line of operational services
In the era of big data, with the help of digital means, banks can realize accurate insight into the financial needs of enterprises, gradually integrate financial services into the business scenarios of enterprise value chain, provide targeted financial services around different development stages of enterprises, and become a connector between enterprises and a shared platform of industrial chain.
In the "Fourth Five-Year Plan" of Bohai Bank, Bohai Bank clearly focused on four major customer groups: strategic customers, institutional customers, chain customers and navigation customers, focusing on four themes: customer insight, product service, commanding operations and technology empowerment, realizing positioning customers, recognizing customers and serving customers, and helping to build digital operations for corporate customers.
In order to continuously improve the online operation service capability, Bohai Bank reconstructed the "channel collaboration center", realized the unified platform support and guaranteed all electronic channel front ends, effectively integrated the assembly function, and quickly provided the service capability output. On this basis, we will build an "open platform for corporate finance" to promote the online operation service capacity building of channel integration, digitalization of financial products and scenes of digital products, build a unified portal for corporate banking in an all-round way, complete the launch of a brand-new version of corporate online banking, and launch 100 product services and 54 convenient functions-in addition to traditional financial services such as settlement, account management, wealth management and agency, we will also build an open platform to introduce third parties in a multi-tenant system architecture.
From "product-centered" to "customer-centered", Bohai Bank has paid more and more attention to the needs of corporate customers in trading scenarios and daily operations, and gradually exerted its strength on public and non-financial scenarios. Based on the exploration and practice of salary payment scenario, Bohai Bank has comprehensively optimized the salary payment business process, realized online, automatic and self-help of the whole process, and significantly improved its basic service capacity and batch processing capacity; Provide non-financial digital value-added services around enterprise personnel, finance, cost control, welfare and individual tax social security declaration, and meet customer needs through one-stop digital solutions; We will strengthen all-round service to customers through the linkage of wholesale and retail, continue to build a financial service system for employees of payroll enterprises, build a payroll area in the new version of mobile banking, improve the financial products and services of payroll retail customers, and make it one of the highlights of the benchmark products and ecological products construction of the linkage of wholesale and retail.
Based on the new development stage, implementing the new development concept and building a new development pattern for services, Bohai Bank has improved the adaptability, competitiveness and inclusiveness of financial services through digital transformation, and enhanced the customer service experience by means of online, electronic and scene-based upgrading of corporate business platforms and products, forging the core service capability for corporate business, and contributing to the "Bohai" power for smoothing the domestic big cycle and driving the domestic and international double cycle. (Cheng Bohai)
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