Close this search box.

We are creating some awesome events for you. Kindly bear with us.

China Promotes Innovations to Boost Fintech

With increasing uncertainty from the pandemic, Chinese financial industries are in urgent need of digital transformation. The volatility has created unprecedented opportunities for digitalisation across the world, and the financial industry continues to explore openings to embrace technology and uncover new areas of growth.

An observation on startup distribution between technology and applications has indicated that privacy computing would grow rapidly in China. Chinese authorities issued policies to vigorously promote the data factor and establish a comprehensive data protection mechanism. Therefore, privacy computing technologies federated learning have started small-scale deployment.

With the development of China’s “New Infrastructure Construction” strategy, traditional industries are all undergoing digitalisation. The industrial internet will also become more segmented, intelligent, and personalised, and financial institutions can benefit from this evolution, approach new assets, and transform these assets into data and credits.

Fintech companies have gradually penetrated all aspects of financial services by improving the capabilities of front to back offices. Meanwhile, banks are more aware of the penetration of financial technology. More and more commercial banks are positioning fintech as the “key driver” for business transformation. State-owned banks, joint-stock banks, and other small and medium banks are all applying financial technologies to digital transformation.

Chinese fintech strategies combined with current digital transformation trends will likely produce the following footprints:

  • Fintech industries will be more online, open, and intelligent: Industries will convert more traditional services from offline to online and build an omnichannel strategy by tapping into emerging channels. They will apply artificial intelligence (AI) applications to online business with matching needs from both retail and corporate customers. They will create more data streams and use cases to strengthen client relations.
  • New technologies and applications will be introduced to improve operational efficiency with emphasis on data factor: Industries will focus on the introduction of smart operations, smart risk management, and smart customer relationship management (CRM) with the integration of low-code SaaS applications. They deploy blockchain applications to build and expand a trusted financial service environment, piloting applications such as traceability, authentic right, trusted execution environment, and multi-stakeholder transactions.
  • Integration of the industrial internet: China will focus on several core industries, deep dive into specific business scenarios, and connect financial services to the chain of transaction-account-data. China will help traditional industry clients with digital transformation to generate new service opportunities because Chinese banks normally have better technological capabilities than traditional clients.

Following the target of China’s 14th Five-Year Plan on the development of new infrastructure construction since 2020, traditional industries are undergoing digital transformation rising upon the methodology of the industrial Internet. Enterprises of all sizes must pursue development through collaboration with each other, and more attention should be given to small and medium-sized enterprises (SME) address their challenges in accessing capital.

Due to the urgent need for digital transformation, the corporate finance field nurtures innovation opportunities. Compared to the revolution of the mobile Internet which emphasises the consumer end, the revolution of the industrial internet asks for in-depth knowledge of value chains and first-hand industry knowledge from the supply side.

In 2021, financial institutions will rely on the retail banking side and develop a niche market in clothing, food, housing, and transportation as their moat. An economic moat is a business’s ability to maintain competitive advantages over its competitors to protect its long-term profits and market share from competing firms. On the corporate banking side, they will provide digital solutions for industries that have comprehensive value chains such as healthcare, automotive and education to capture new growth opportunities.


Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.


As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.


Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit


SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.


HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 


IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.