Trends in Big Data Applications in China’s Financial Industry

by Hua Zhang, November 5, 2015
Industry Trends
Asia-Pacific

Abstract

Since the publication of Big Data Strategies in the Chinese Banking Industry, big data has come to be widely used in credit, credit cards, guarantees, financial matching, and investments.

In the report Trends in Big Data Applications in China’s Financial Industry, Celent examines the new applications, strategies of nonfinancial companies, and providers.

Major banks have completed the construction and promotion of e-commerce, social networking, P2P, and big data platforms. By utilizing these platforms, these banks are able to better obtain customer data. Some leading insurance companies, including Ping An Insurance and Taikang Life Insurance, have begun to establish big data centers to improve service standards. In the securities industry, Haitong Securities has developed analysis techniques on customer behavior and characteristics.

The major big data vendors include Global Big Data Exchange, Jusfoun, Credit Sesame, 3Golden, Bairong Financial Information Services, and CIITC.

“In the future, large financial institutions may also capture data offline. This will form a closed loop from online product browsing, to offline product experience, to online transactions and sharing,” says Hua Zhang, an analyst with Celent’s Asian Financial Services practice and author of the report.

This report describes the market, looks at cases, and examines industry trends.

This report is also available in Chinese.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Applications in the Banking Industry

3

 

Credit Cards

3

 

Automobile Purchase

4

 

Trade Finance

4

Applications in the Securities Industry

5

 

Financial Big Data Index by China Southern Asset Management and Sina

5

Applications in the Insurance Industry

6

Big Data Strategies of Nonfinancial Corporations

7

 

E-Commerce Companies: Alibaba, JD.com, Etc.

7

 

Search Engine: Baidu 100 Index and Bangbang.baidu.com

7

 

Social Networking: Tencent’s WeBank

8

 

Shopping Malls: Wanda Finance

9

Big Data Providers

11

 

Global Big Data Exchange

12

 

Jusfoun

12

 

Credit Sesame

13

 

3Golden

13

 

Bairong Financial Information Services

14

 

CIITC

14

 

Other Big Data Providers

14

Conclusion

15

Leveraging Celent’s Expertise

16

 

Support for Financial Institutions

16

 

Support for Vendors

16

Related Celent Research

17

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