In an exciting development for fintech in the Greater Bay Area (GBA), China Resources Bank and GienTech have joined forces. Their strategic partnership aims to enhance technological innovation and foster fintech development in the region.
GienTech Partners with China Resources Bank for Innovation
Established in 1996, China Resources Bank has set out to support the growth of the GBA. A major leap in this direction came in December 2022 when it signed a strategic partnership with GienTech. The primary objective is to help build the Financial Infrastructure Innovation Platform and advance the bank’s innovations in technology.
Deployment of Financial Infrastructure Innovation Platform
At the heart of the Financial Infrastructure Innovation Platform lies the digital infrastructure ORIGIEN. Specifically designed for critical industries like finance, ORIGIEN is set to enable systematic IT upgrades, large-scale software development, and digital transformation while meeting high technical standards. The roll-out of this platform co-developed by China Resources Bank and GienTech will be conducted in two phases. The first phase will establish the financial transaction cloud as the foundation for digital transformation, enabling an updated core banking system and a novel supply chain finance platform.
Next Steps for Fintech Development in GBA
GienTech and China Resources Bank are intensely preparing the new mobile banking platform for a trial run by year’s end. This is a remarkable step towards boosting fintech solutions for the GBA. The front-line aim of these efforts is to set a benchmark for fintech application innovation and actively foster fintech development in the region.
In conclusion, the partnership between GienTech and China Resources Bank is poised to revolutionize fintech in the GBA. The forthcoming deployment of the Financial Infrastructure Innovation Platform and the imminent trial run of the new mobile banking platform are exciting developments that signal a robust future for fintech in the region. We await these developments with anticipatory excitement and will keep you updated with further progress in this venture.
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