Zhong Guo Jing Ji Wang·2024-11-10 14:29Core Insights - The 2024 Singapore FinTech Festival took place from November 6 to 8, showcasing innovations from various financial institutions, including Bank of China, which has participated for eight consecutive years [1][2] - Bank of China's Singapore branch president, Shi Wei, highlighted the transformative impact of technologies such as mobile tech, big data, cloud computing, and AI on traditional finance, emphasizing their role in promoting digital finance and inclusive financial services [1] - The development of digital finance is seen as crucial for enhancing service efficiency, promoting financial inclusion, and improving risk management in the financial sector [1] Group 1 - Bank of China presented multiple innovative achievements at the festival, engaging with global policymakers, industry leaders, and tech experts [1] - The bank established its first innovation research and development base in Singapore in 2018, focusing on AI, big data, and IoT to enhance customer service and digital operations [1] - The bank's initiatives aim to better serve small and micro enterprises and rural areas, contributing to the broader goal of financial inclusion [1] Group 2 - Bank of China actively integrates into Singapore's local innovation ecosystem, collaborating with regulators, government, and partners on projects like the Veritas responsible AI initiative and the paperless cross-border trade pilot [2]