OneConnect collaborates with Huishang Bank to jointly build an intelligent wealth product recommendation system
Recently, OneConnect successfully won the bid for the Wealth Product Intelligent Recommendation System procurement project of Huishang Bank Co., Ltd. (hereinafter referred to as "Huishang Bank"). Drawing on Ping An's experience in retail transformation, OneConnect will export its wealth management system through a "technology + operation" approach. This initiative will support the rapid growth of Huishang Bank's wealth product business and comprehensively aid in elevating its wealth management to a new level.
Huishang Bank, headquartered in Hefei, Anhui Province, is the first regional joint-stock commercial bank in China established through the reorganization of urban commercial banks and urban credit cooperatives. It was listed on the Main Board of the Hong Kong Stock Exchange on November 12, 2013, and has been selected for the "Fortune China 500" and "Top 500 Chinese Listed Companies." It ranked 25th among the "Top 40 Companies with the Highest Net Profit Margin among China's Top 500 Listed Companies" and was the seventh-largest city commercial bank in terms of asset scale, amounting to 17328.94 billion yuan in mid-2023.
In this collaboration with OneConnect to build an intelligent wealth product recommendation system, Huishang Bank aims to achieve customer information mining and product information integration. This meets the needs of wealth product business development by improving business efficiency, strengthening risk control, and aligning with customer investment needs, thus enabling precise marketing of wealth products to customers.
Leveraging over 30 years of financial industry experience and independent research capabilities of Ping An Group, OneConnect's wealth management digital empowerment platform solution can fully meet the bank's centralized strategy for wealth management. It enables the construction of an open product shelf, offers differentiated asset allocation advice, expands investment advisory business, and empowers channels. The solution provides comprehensive pre-sale, in-sale, and post-sale customer journey management, enhancing wealth planning capabilities, empowering the bank and its team, and meeting customers' diverse needs at different stages. This practice embodies the customer-centric business philosophy, effectively helping the bank to enhance its Assets Under Management (AUM) scale.
The cooperation solution provided by OneConnect to Huishang Bank is based on mature systems used within Ping An Group, further optimized according to market demands. It includes a technology product solution that can be tailored to the bank's needs, offering front-line industry information, business coaching, operational support, and other related capabilities. OneConnect will empower Huishang Bank's wealth management business with its unique "business + technology" cooperation model, achieving full-cycle management of bidirectional recommendation strategies and tracking recommendation effectiveness for both wealth managers and customers.
