BEIJING, July 26, 2021 /PRNewswire/ -- Bairong Inc ("Bairong", 6608.HK), a leading independent AI-powered technology platform in China, has officially released its inaugural 2020 Environmental, Social and Governance Report ("the Report"). The Report outlines Bairong's initiatives and investments across six sections: Corporate Governance, Technological Innovation, Customer Service, Talent Development, Green Development, and Giving Back to Society.
Committed to the concept of "Technology for Good," the Report highlights Bairong's significant investment in technology innovation in 2020. Its AI Finance Lab successfully developed an intelligent outbound call-making robot and an automatic machine learning platform; while its Financial Big Data Research Center released a timely research report titled, "The Chinese Economy During the COVID-19 Pandemic".
On the technology front, Bairong also developed core systems and explored new frontiers for specific financial scenarios. To address the shortage of AI talent and difficulties in AI application development, Bairong established its ORCA Automatic Machine Learning Platform, which has halved the length of the modeling-to-deployment cycle. Furthermore, its new Intelligent Customer Service System helps financial institutions reduce costs and improve efficiency and the Intelligent Risk Control Middle Platform assists banks and other traditional financial institutions to achieve digital transformation and innovation in risk control.
In addition, the Report demonstrates Bairong's ongoing investment in R&D. In 2020, the company obtained 18 intellectual property rights pertaining to data insight, federated machine learning, risk control cloud platforms, business intelligence (BI) analysis and model monitoring — bringing its total IP count close to 100.
Complementing its technological achievements, the Report reveals how Bairong's latest product and service innovations assist financial institutions to provide consumers with better financial services and a better experience. The full life-cycle intelligent risk management and precision marketing solutions support improved front-end marketing and customer acquisition with pre-lending fraud prevention, dynamic early warning during lending, and post-lending full process services. Last year also saw Bairong optimize its customer feedback mechanism with nine operating management principles and Customer Feedback Handling Procedures to ensure quality service and timely responses to feedback.
With a commitment to enhancing its positive influence on society, the 2020 ESG Report underscores the role Bairong plays in social responsibility. Recognizing that risk control is becoming more challenging for financial institutions, Bairong's new intelligent risk control system helps financial institutions package back-end resources so they can be harnessed to reduce business risk at the front end. The system can be used in a variety of risk control scenarios such as anti-fraud, risk assessment, risk warning, and post-loan management.
The Report also covers Bairong's continued efforts of improving its corporate governance structure in 2020 to continuously improve efficiency, manage risk control levels, and prevent compliance risk. In response to the pandemic, the company established a new risk identification and management process in response to emerging risks such as extreme weather, human environmental damage, infectious diseases and internet security. In tandem, new Compliance Risk Management Measures ensure Bairong is able to realize efficient identifications in risk management and maintain operating management and performance in accordance with laws, regulations and standards.
Furthering its commitment to a sustainable future, the 2020 ESG report outlines Bairong's continued commitment to green development. By assisting in the digital transformation of the financial services industry, Bairong is actively supporting reduced energy and resource consumption across the globe. Meanwhile, the company has introduced key initiatives to reduce its own environmental impact, including green offices, green procurement processes, and green data centers.
Founded in March 2014, Bairong is a leading independent AI-powered technology platform in China serving more than 4,800 financial services provider clients. Bairong was the largest independent financial big data analytics solutions provider in China by revenue in 2019. Adhering to the mission of empowering every financial services provider in China with smart and comprehensive data analytics, Bairong has built a cloud-native technology platform that supports the full business cycle of FSP clients, including pre-lending risk management, post-lending monitoring, NPL management and insurance risk management, enabling them to reduce exposure to fraud and improve their risk management effectiveness. Bairong also provides big data marketing and distribution services that enable FSP clients to reach and serve their target customers more effectively.