Bank of China flexes regional arm as fintech leader

(Nov 13): What does fintech mean for Bank of China, Singapore Branch (BOCSG)?
Qiu Zhikun, general manager & country head, BOCSG, explains in detail the bank’s fintech initiatives in Singapore, and some of its leading-edge programmes in China that could be introduced here.

When did Bank of China start to focus on fintech?
Bank of China has always viewed innovation and technology as strong driving forces to promote business development. In 1979, BOC became the first bank in China to use computers to automate manual processes. BOC continued with many firsts, launching China’s first credit card in 1985, China’s first ATM service in 1987, as well as launching the first online banking platform in 1997.

In recent years, BOC has fulfilled the Chinese national agenda’s focus on driving innovation and investment in fintech. BOC has experimented with the use of big data, artificial intelligence, blockchain and mobile payment, and commercialised some of these.

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