In recent years, the Guangdong Rural Credit Union (GDRCU), as the leader of rural credit institutions in South China, guided by the concept of digital rural credit, has created a new model of digital management and walked in the forefront of the industry. The first rural credit union in Guangdong Province was established in 1951, and with the development of rural area and economy in Guangdong, its scale has continued to expand. In 2005, the GDRCU was established and assumed the important task of managing, coordinating and serving rural credit cooperatives. Up to now, the GDRCU has 73 rural commercial banks with more than 5,600 business outlets. It has become the largest union with broadest service range, providing deepest support for agriculture, rural areas and farmers in Guangdong. It is also the main financial force in Guangdong serving agriculture, rural areas and farmers and supporting coordinated regional development.
"Under the support of the cloud platform, the GDRCU led other Guangdong rural credit institutions to focus on rural areas and small markets, serving agriculture, rural areas and farmers, small and micro enterprises and private enterprises, realizing dynamic tracking management, coordinate credit delivery and effectively preventing and controlling risks. Faced with the strong demand for agricultural loans during the spring farming season, the GDRCU coordinated all rural cooperative institutions to do a good job of financing support for farmers to make timely preparation for spring plowing."
In 2005, the GDRCU was established and assumed the important task of managing, coordinating and serving rural credit cooperatives. To foster the development of China’s rural economy, the rural cooperative institutions are facing the important task of restructuring systems and reducing risks. The current interest rate marketization and the fierce competition in the financial field also push the rural cooperative institutions to upgrade business and management.
GDRCU has cooperated with a commercial science and technology service provider Vantage Point, a subsidiary of OneConnect. By creating a new, open and shared cloud ecology, it has pioneered the model of cloud services in both and finance, solving the digital transformation problems faced by rural cooperative institutions and opening up a new way for improving the fine management of these institutions.
In this cloud platform project, the intelligent upgrade of "subscription on demand and with immediate effect" has been realized, which not only effectively avoids the problems of high system construction cost, long cycle, inability to flexibly go online and ineffective sharing of resources, but also helps the CDRCU’s centralized management of operational risks of rural cooperative institutions through large platforms. Each rural cooperative institution can also concentrate its efforts on different business modules and differentiated development.
Besides, empowered by science and technology, rural cooperative institutions have also simplified credit procedures, realized the early distribution of credit delivery and delivered loans to doors, effectively solving the financing problems of farmers.
In terms of business, Vantage Point pioneered a full-chain service model of consulting, construction, promotion, training and butler service in the process of building the platform, helping the CDRCU to establish its own business competitive advantage while meeting its development needs. The structure is based on the big data platform, and also supports the application of management accounting distributed architecture, which can be selected and customized, and is scenario-based and flexible. Relying on big data, the management accounting data mart and label management platform built by the project can not only comprehensively analyze data quality, but also build product labels, indicators and other systems, so that the CDRCU can manage its subsidiary institutions in the province through one platform which provides accurate and stable data.
For legal entities, the asset and liability module can show the overall situation of the bank's assets and liabilities on a daily basis, which also provides intuitive data presentation for the bank's daily analysis. A variety of dynamic stress testing scenarios can reasonably measure the bank's capital demand under different liquidity pressures. At the same time, the cash flow engine calculation function of the asset and liability management system can also help rural commercial banks verify the rationality of various asset and liability business strategies and comprehensively improve business decision-making and risk management capabilities.
On the whole, the GDRCU has actively built up the basic capability of financial science and technology, and relying on cloud ecology as the core, formed a joint force for the province's science and technology construction from the top level to assist the restructuring of rural cooperative institutions under its jurisdiction to reduce risks, as well as the business transformation of rural commercial banks. With these efforts, the deep integration of science and technology and business has been accelerated, and rural areas and small markets has obtained more financial support.
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