Shulou(Shulou.com)11/24 Report--

Recently, the 11th "IDC China Digital Finance Forum" was held in Beijing. The list of "2023 IDC China Financial Industry Technology Application scene Innovation case Award" was announced at the forum site, and a total of 33 outstanding cases were awarded. Among them, with its excellent performance in the field of consumer insurance risk management, the intelligent inspection system "Consumer Protection Shield" developed by Ant Group has been selected as an excellent case of financial business risk management.

It is understood that the Financial Business risk Management Award aims to discover innovative cases of how financial institutions effectively identify and prevent the risks faced by financial business operations through emerging technologies and solutions. Relevant scenarios include (not limited to) anti-fraud through unified threat management software and risk control solutions (including online underground industry, application and transaction KYC, etc.), anti-money laundering, identification and prevention of misconduct among employees, etc.

In recent years, with the deepening of Internet services, the problem of financial risk has become more hidden, the form of marketing publicity has brought forth new forms, and the increasing magnitude and complexity have brought great challenges to the traditional consumer protection work, which has become a common pain point in the industry.

In the face of the increasingly complex and diversified work of elimination and protection, Ant Group independently developed the intelligent inspection system of "Consumer Protection Shield". Based on the interpretation and precipitation of artificial intelligence and expert experience, through technological innovation, it establishes a self-developed risk model based on multi-model fusion and deep learning technology, and builds the digital translation of more than 300 internal control rules. From relying on manual audit to digital transformation, the product will block the consumer insurance risk before launch, fill the industry gap that there is no digital inspection after the product launch, and build a long-term management and control mechanism of beforehand consumer protection risk control, in-process consumer insurance risk inspection, and post-event complaint promotion and governance, so as to achieve the whole process control of business scene consumer insurance risk.

At present, the "Consumer Protection Shield" has supported different financial business types, such as Alipay, Ant Insurance, Ant Xiaojin, and Internet Merchants Bank, and has played a role in identifying and preventing consumer insurance risks in large-scale projects such as Singles' Day and Wufu, covering a total of 5000 products, distribution and control rules, 100 million + audit materials, and saving manpower for more than 100 man-years. As a systematic solution in the field of consumer protection, the "Consumer Protection Shield" capability also supports opening up to ecological and industry partners to facilitate the implementation of its consumer rights protection work.

It is understood that the selection of the 2023 IDC China Financial Industry Technology Application scenario Innovation case (FIIA,Financial Insights Innovation Awards) is based on the annual research main line. And around inclusive finance, green finance / sustainable finance, financial low code / no code, responsible AI (Responsible Al), asset management technology, quantum computing financial application, data governance, financial cloud native, financial meta-universe, financial business risk management direction. Nearly 120 excellent projects entered the final evaluation stage, from which 33 excellent cases were selected. The 33 award-winning case institutions cover state-owned banks, joint-stock banks, urban commercial banks, agricultural commercial banks, securities, insurance and other financial institutions of different types and sizes.

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