Core Insights - Postal Savings Bank of China (PSBC) won the "Financial Technology Development Award" for the third consecutive year, highlighting its strength in core system R&D and digital transformation [1][2] - The award is a significant recognition in China's financial sector, focusing on innovative technological achievements across various financial services [1] Group 1: Award Recognition - PSBC's project, "Intelligent and Digital-Driven Distributed Corporate Business Core System," achieved first place, marking a significant milestone in the bank's technological advancements [1][2] - The "Financial Technology Development Award" is the only ministerial-level technology award in China's financial industry, emphasizing the importance of technological innovation [1] Group 2: Technological Innovations - The core system represents a major innovation in implementing the national strategy for technological self-reliance, achieving full-stack domestic operation for corporate business among state-owned banks [2] - The system integrates AI, big data, and large models, creating a personalized service system and enhancing operational efficiency by over 10 times compared to previous versions [2] Group 3: Future Directions - PSBC plans to focus on key areas such as core technology autonomy, inclusive financial technology empowerment, and digital support for rural revitalization, aiming for continuous innovation and practical implementation [2]

Core Insights - The People's Bank of China announced the winners of the 2024 Financial Technology Development Award, highlighting significant achievements in the financial technology sector [1][3] - A total of 290 projects were awarded, including 1 special award, 18 first prizes, 103 second prizes, 148 third prizes, and 20 special "Micro-Innovation Awards" [1][3] - State-owned banks dominated the awards, with Industrial and Commercial Bank of China (ICBC) being the only institution to win two first prizes [1][8] Award Distribution - The total number of awards increased by 33 compared to 2023, with state-owned banks collectively winning 33 awards [1][4] - ICBC won 6 awards, including 2 first prizes, focusing on intelligent risk control and securities infrastructure [4][8] - China Bank received 7 awards, with 1 first prize and 5 third prizes, marking an increase of 2 awards from 2023 [4][10] - Agricultural Bank won 5 awards, including 1 first prize, while Construction Bank secured 6 awards, including 1 first prize [4][11] - Postal Savings Bank received 4 awards, maintaining its performance from 2023 [5][12] Technological Focus - The awarded projects emphasized core system construction, AI application, and risk management [6][8] - ICBC's first prize projects included a comprehensive AI risk detection platform and a securities database project, showcasing advancements in financial data integration [8][9] - Agricultural Bank's first prize project focused on enterprise-level business architecture, while China Bank's first prize was for a comprehensive IT architecture transformation project [9][10] - Construction Bank's first prize project involved a core banking system migration, highlighting its commitment to distributed systems and AI applications [11][12] - The awards also recognized innovative projects from smaller banks, indicating a broader trend towards technology adoption across the banking sector [13][15]