The largest bank in the world, ICBC has never stopped its innovations. SME Finance Forum members had an opportunity to learn about the company during the Forum's second immersion program on June 10.
During the visit, 17 members gathered in depth knowledge about an innovative aspect of the company’s operations. Since the inception of its e-ICBC 3.0 plan in 2017, the Bank has accelerated its "Smart Banking" and "Digital Financial Inclusion" strategies. Blockchain, AI, Internet of Things (IoT) and biological identification have been widely employed in applications across departments. ICBC Mall, which is a eCommerce business developed by ICBC has also reached a transaction volume of over one trillion RMB. As a result, over half of its total credit cardholders were acquired from the Internet.
During the Immersion Program to ICBC, participants also had a Q&A with senior management combined with a guided tour of the facility.
The Forum's Immersion Programs allow members to hear practical first-hand accounts from the host institution about the unique challenges they faced and the motivation and process for change, as well as lessons learnt. The Forum also hosted a regional Immersion Program to JD Finance in China on June 10. Learn more about it here.