China Bohai Bank taps Bairong for AI-powered digital upgrade

Software-as-a-Service (SaaS) provider Bairong will provide digital infrastructure to China Bohai Bank, including fraud and loan monitoring systems.

China Bohai Bank is a new commercial bank founded in 2006

With the financial sector becoming an increasingly data-rich and technology-intensive environment, Bairong says financial institutions need help to scale up their IT infrastructure.

Bairong’s cloud SaaS platform is a middle platform that allows financial institutions to “rapidly upscale and digitise their internal and external operations”.

The vendor says banks use the AI-powered platform to enhance collaboration between isolated systems, integrating back-end resources and bringing down the costs of front-end business.

Bairong CFO, Zhao Hongqiang, says the digital transformation in the financial sector is an ongoing and long-term shift in both technology and business.

“The cooperation with China Bohai bank opens up a new starting point for Bairong, with which we will continue to explore the application of AI and Big Data in the financial sector in the future.”

He adds: “In the post-pandemic era, digital adoption and automation in financial services are no longer an option for the financial sector.

“Instead, they have become a necessity and growth imperatives. Meanwhile, the need for digital and intelligent transformation in the financial industry is also widely recognised.”

Bairong clients include China Minsheng Bank, Ping An Bank, Industrial Bank, and Beijing Zhongguancun Bank.