Test "Big Data", China Merchants Bank, to break through internet finance

With the efforts of Huawei and other enterprises, big data has been transformed into a technology that is readily available to traditional commercial banks. After two years of exploration, China Merchants Bank experienced the amazing changes that big data has brought to financial services and financial innovation, and took the lead in setting a key step for Internet Financial Services Based on big data analysis. In the process of exploring the mysteries of big data, traditional commercial banks are gradually getting out of the shadows of Internet Financial "disadvantaged groups" and returning to the strong position.

The number of SMS messages for financial products has dropped by 82% compared with the past, but the customer hit rate has reached 95%. In the past, only historical details of one year can be queried online, and more than five years can be queried; credit card information can be shortened from 15 days to 10 minutes. The predicted conversion rate of small and micro loans is 40 times higher than that of traditional methods, or the error rate of Financial Assets prediction is reduced by half ...... This set of data comes from the pilot results of the big data application platform of China Merchants Bank Shenzhen Branch. Based on the successful experience of Shenzhen Branch, china Merchants Bank launched online historical details query, real-time credit investigation, real-time event marketing, small and micro loan customer acquisition prediction, or financial asset prediction, and precise financial product recommendation nationwide this year. and other financial innovation services.

In less than two years, China Merchants Bank has transformed the "Big Data" technology, which is still very unfamiliar to traditional industries, into a "powerful tool" to break through the Internet financial dilemma ", how did they develop an IT team that enables China Merchants Bank to have "Big Data" capabilities?

Driving Force:

Data is an important asset of banks.

The real impact of internet finance on traditional commercial banks is that today's Internet companies are more capable of gathering users, discovering user needs, and serving users accurately than traditional commercial banks. This capability is essentially granted by the Internet, big data, and cloud computing. Because traditional commercial banks do not have such capabilities, they gradually lose their inherent advantages in financial services. China Merchants Bank has long been aware of this shortcoming of traditional commercial banks and began to build a big data platform based on cloud computing systems in 2012.

Internet enterprises are still exploring the application of big data technology, not to mention the traditional commercial banks known as "careful. China Merchants Bank's attempts seem risky for banking users who have always "only chosen mature technologies. However, according to Zhou Tianhong, General Manager of the Information Technology Department of China Merchants Bank's head office, it is no coincidence that China Merchants Bank's big data attempts can achieve initial success in a short period of time.

"China Merchants Bank always regards data as an important asset of Banks ." He told reporters that the competition and development of the banking industry have never escaped the reliance on data analysis capabilities. As China's first joint-stock commercial bank held by a corporate legal representative, China Merchants Bank has long considered the ability to "discover value from data" as the foundation for the Bank's development and competitiveness. In 1999, China Merchants Bank established a data warehouse system to explore Data Mining and data analysis. It is precisely the emphasis on the value of data that makes China Merchants Bank embark on the road to exploring big data.

Although the technical teams of China Merchants Bank are experienced in Data Mining and analysis based on data warehouses, the entire team must learn from scratch in the face of the big data analysis methods that have emerged in recent years. Since studying the big data literature published by Google, they found that big data analysis technology has unique values, especially for the analysis of semi-structured and unstructured massive data, with a large cluster composed of cheap x86 servers, you can achieve powerful data storage and computing capabilities. Currently, more mature platform implementation technologies mainly focus on hadoop and cloud computing systems. They must achieve rapid technological breakthroughs in these fields.

In order to speed up the promotion of big data, China Merchants Bank began to look for partners with technical strength. At this time, they formed a cooperative relationship with Huawei, with the help of Huawei, the production system based on big data analysis was launched quickly, solving a series of difficulties in big data analysis methods.

Select:

Big Data technology is not in the hands of traditional IT vendors

Huawei has been in the enterprise market for less than four years. Compared with the big-name it enterprises that have been deeply engaged in the financial industry for more than a decade, it is even more well-known in the big data field. However, last year, Huawei released fusioninsight, an enterprise-level big data application platform. Few people know that fusioninsight has many functions and features that come from Big Data cooperation with China Merchants Bank.

Many people may not understand why China Merchants Bank, which has always been "careful" in IT investment, will make such a key attempt in big data, on the contrary, Huawei was chosen as a "young" partner. Zhou Tianhong believes that, unlike the development history of the vast majority of information technologies, big data technologies have been developed and developed by Internet companies and are first applied in mature Internet companies. In the past, the vast majority of information technologies were invented and applied by professional IT enterprises.

"This means that big data technology is not in the hands of traditional large IT companies ." Zhou Tianhong bluntly said that the traditional leading IT vendor has just begun big data research. In China, vendors that can provide big data technology services are even more limited. However, the final choice of China Merchants Bank is not because of its special support to domestic enterprises, but because of its technical perspective and the principle of being responsible for investment in banks, it chose Huawei. "As a new force of enterprise IT services, Huawei has its unique advantages, such as its strong learning ability and strong ability to control new technologies and innovations ." He admitted that before deciding to cooperate with Huawei, China Merchants Bank had some concerns and made a lot of research and research. They found that Huawei has invested more resources in the big data field than many competitors, and is more and more confident in the accumulation of related technologies.

Since the beginning of 2012, China Merchants Bank began to contact Huawei and conduct relevant research with Huawei, and officially began cooperation with Huawei. China Merchants Bank has undergone a "careful" technical review for up to half a year, in the meantime, strict POC tests were conducted for Huawei products and other manufacturers' products. As long as they do not match the requirements, China Merchants Bank will submit the POC report results to relevant vendors for rectification and improvement. In the face of the strict requirements of relevant regulatory authorities in the financial industry and the strict O & M requirements of China Merchants Bank, Huawei's technical team has been actively cooperating with and constantly adjusting its products, in the end, the final winner of the fusioninsight Financial Industry release meeting the requirements of China Merchants Bank's production system allowed China Merchants Bank to smoothly develop related systems at the beginning of 2013 and officially launch the product after the pilot is completed this year.

Unlike the sales model of software and hardware binding used by data analysis platforms in the past, the cloud computing hardware platform currently adopted by China Merchants Bank is not provided by Huawei, the IT department has not made an "extra" investment in hardware because of the launch of the big data platform. through flexible resource allocation, China Merchants Bank can build a high-performance data analysis platform at extremely low costs. China Merchants Bank is also satisfied with the performance of fusioninsight at the technical level. For the processing of large-scale data, it significantly improves the efficiency of the original technology in specific business application scenarios of China Merchants Bank.

The cooperation with Huawei has enabled China Merchants Bank to achieve three objectives: first, to build a big data application and analysis platform based on the cloud computing platform, and to carry out innovative financial services based on big data analysis; second, by building a big data platform, the original unstructured data and structured data outside the data warehouse are gradually integrated into the platform, with the ability to process massive data; the third is to establish a big data technical team to upgrade the technical team of China Merchants Bank in an all-round way and be able to use and operate the big data platform.

Results:

The most important thing is to train a team.

With the launch of the big data platform, new financial applications began to be promoted in branches of China Merchants Bank. It is predicted that only query applications will involve hundreds of TB of data each day. If the behavior data required by other applications is fully collected, the amount of data to be processed by the whole row per day will reach petabytes.

Big Data is a process that needs to be explored for any enterprise today. It is a scientific method to gradually control the cost of data analysis. China Merchants Bank's data analysis platform currently adopts the coexistence of traditional technologies and new technologies, mainly because traditional data has formed a relatively complete system compared with structured data analysis and processing, mature tools (Big Data magic mirror) are available in terms of data storage, integrated processing, analysis, presentation, and mining. There are still some technical problems in place of new technologies.

"Big Data technology is developed by Internet companies. internet finance has pushed big data applications to a new stage of development. However, bank data is more complex than Internet data. After years of development, banks have formed many mature technologies in the field of data analysis, and are not so easy to replace with new technologies. Therefore, there is still a process for applying big data ." Zhou Tianhong believes that the exploration of big data in Commercial banks should train a technical team familiar with the development and analysis of big data platforms. There are still many ways to go.

Test "Big Data", China Merchants Bank, to break through internet finance