Liu Feng, deputy secretary of the Party committee and Secretary General of the Bank Of China Limited(601988) Banking Industry Association, said at the 6th New Financial Forum on January 9 that the digital transformation of the banking industry has achieved phased results through planning, formulating digital transformation strategy and implementation path, and steadily carrying out the application of financial technology and exploration of new models.
“But there are still some problems in the process of digital transformation.” Liu Feng said that for example, the direction of digital transformation is not clear, the defects of data governance are obvious, there is a shortage of professionals, the business philosophy and management system are rigid, and the ability to manage new risks is insufficient. Next, in the process of promoting the digitization of the banking industry in depth, we also need to solve these problems according to local conditions.
In terms of strengthening financial technology governance, Liu Feng said that under the digital drive, while promoting the continuous innovation of bank products and business models in the open cooperation with external institutions, it is also changing the connotation and extension of traditional risks, bringing severe challenges to data security and information security management. Banking institutions should pay close attention to and abide by the two principles of financial services for the real economy and the bottom line of risk: on the one hand, adhere to the correct value orientation, follow the basic laws of financial development, and perform their bounden duty of serving the real economy; On the other hand, we should properly handle the relationship between financial development and financial security, pay close attention to the trend of business transformation, remain highly sensitive to new situations and problems in the market, and gradually establish a more scientific, accurate and effective risk management system to adapt to the new situation and new business forms with the help of scientific and technological means, so as to ensure that risks are “clearly seen” and “managed”.
“In the era of digital economy, it is imperative to comprehensively strengthen the construction of data capacity, and the importance of data governance as a basic work is more prominent.” Liu Feng stressed that banking institutions should strengthen the concept of data assets, deepen the application of data resources, establish a data governance system with a sound organizational structure and clear responsibility boundaries, promote the orderly sharing and comprehensive application of data on the premise of ensuring security and privacy, and actively explore the confirmation of data rights and the distribution of data element benefits; In addition, in accordance with the personal information protection law, the data security law, the regulations on the administration of network data security (Draft for comments) and other laws and regulations and the requirements of regulatory authorities, we should earnestly follow the professional ethics of using data according to regulations and scientifically, and collect, manage, use and transfer data in accordance with laws and regulations; At the same time, strengthen data security management, establish a long-term mechanism for data security, improve data security technology, and effectively protect customer privacy and data security.
At the talent echelon level, Liu Feng believes that digital talents play a vital role in the digital transformation of the banking industry. Banking institutions should do a solid job in the training of financial science and technology talents, actively build a compound professional team matching the digital transformation, combine internal training with external introduction by establishing a long-term talent training mechanism and market-oriented mechanism, and gather a group of high-quality digital talents who not only understand banking business and management, but also master new science and technology and new thinking.
(source: China Securities Journal · China Securities Network)