Icbc business Review

Information Technology
1.Reinforcing top-level design and formulating the FinTech development plan. In accordance with the FinTech Development Plan (2019–2021) issued by PBC as well as the Group’s development plan and strategic goal of building into a smart bank, the ICBC FinTech Development Plan (2019–2023) (hereinafter referred to as the “FinTech Plan”) was drafted in a bid to reflect new changes in and new requirements for FinTech development.development. Centering on the requirements to advance the Group’s cross-border, cross-industry, and cross-sector transformation and development, the FinTech Plan would use “finance plus technology” as two great means to build a smart banking ecosystem, push FinTech towards innovative development, and ultimately create a “digital ICBC”.
2.Transforming ICBC toward a smart bank faster and overhauling/optimizing the FinTech organizational structure and R&D model. The Bank spared no effort to deploy a new FinTech framework which consisted of “one department, three centers, one subsidiary, and one research institute”. Releasing the ECOS and opening a new chapter in the building of a smart bank. The ECOS, a smart banking ecosystem, was characterized by a host of achievements, which included the open and integrated cross-border ecology, ubiquitous intelligent applications, highly flexible business support, dual-core IT architecture, automatically controllable new technology platform, and componentized R&D model.
3.By the end of 2019, the Bank had 615 patents issued in total. Added with the 54 new patents gained in the year, the total patents owned by the Bank numbered 603, ranking first industry-wide. The Bank ranked first industry-wide for six consecutive years in CBIRC’s IT supervision ratings. Its seven achievements won the annual Banking Technological Development Award from PBC.
Risk Management
In 2019, the Bank continued to push for development of the enterprise risk management system, strengthened risk data governance, and upgraded risk management technologies and methods, so as to make enterprise risk management more forward-looking and effective. It further improved the enterprise risk management system, enhanced risk appetite transmission and limit management and control, and intensified the capability of risk response and crisis management. The Bank enhanced the Group’s foundation for consolidated risk management, boosted business penetration of non-banking subsidiaries, and strengthened regional risk management of overseas institutions. It enhanced its capability of managing cross risks, strengthened risk management and control of cooperative institutions, and promoted the application of the Group’s investment and financing risk monitoring platform to achieve risk data integration involving different risks, markets, institutions and products. The Bank actively advanced FinTech application such as big data, developed an intelligent risk monitoring system and enterprise-level anti-fraud platform, and continued to upgrade risk measurement models for better application.