Bairong Inc, a leading independent financial big data analytics solutions provider in China, is excited to announce that it has been selected as one of the first 100 companies to join the Zhuoxin Big Data Program, a public-private initiative launched by the China Academy of Information and Communication Technology (CAICT) to seek greater development and application of practical, innovative data security technologies and methodologies that empower enterprises to address current and future challenges.
Recommended ITech News: Cloudera Enters into Definitive Agreement to be Acquired by Clayton, Dubilier & Rice and KKR for $5.3 Billion
To help enterprises across all sectors to reinforce security systems for data storage, usage and sharing, CAICT initiated the Zhuoxin Big Data Program in early 2021 with the aim of providing data security solutions in three major areas: infrastructure construction, system optimization, and application innovation.
Since its inception, Bairong has been spearheading technologies in the field and providing financial institutions with state-of-the-art AI technologies and data analytical tools. In a joint program launched by CAICT and China’s Bank of Communications to evaluate the trust level of external data sources for financial institutions, Bairong received the highest rating. The Zhuoxin Big Data Program will enable the company to remain at the forefront of the industry by exploring technology-driven innovations that tackle emerging challenges facing all industries in terms of information security, including developing standards, guidelines, and resources in order to construct a robust data security ecosystem.
Recommended ITech News: Agora Launches Agora App Builder for Highly Customized Video Chat and Live Streaming Apps for Creators and Companies
Leveraging its proprietary and comprehensive repertoire of data insights, AI-powered big data analytical capabilities and agile product development capability, Bairong launched itself as the largest independent AI-powered financial big data analytics solutions provider in China by revenue as of 2019, helping it secure 8.7% of market share, according to Frost & Sullivan. Financial services providers (FSPs) benefit from Bairong’s robust data analytics abilities and cloud-native solutions, with which they can boost service efficiency and enhance their risk management capabilities.
Bairong’s strong leadership also hinges on its comprehensive databases rivaled by few in China while its strategy to operate in an emerging market grants the company with first-mover advantage as well as the potential to become a value chain aggregator. Given all the combined competitive edges empowered by its strong client base, efficient and scalable business model, dedicated tech solutions based on cloud service and huge market potential, Morgan Stanley[1] and China International Capital Corporation[2] have upgraded Bairong’s stock to “overweight” and “outperform” lately.
Recommended ITech News: New Global Rackspace Technology Survey Underscores Business Benefits of Modernizing Applications to Improve Customer Experience
With its cloud-native SaaS platform, Bairong is well-positioned to capture growth opportunities in a booming industry. Having served over 4,800 clients in the financial industry and received over 4 billion inquiries in 2020 alone, a positive feedback has formed in which Bairong’s comprehensive data insights keeps snowballing.
On the R&D front, a smart voice interaction system and device achieving multi-round human-machine dialogue developed by Bairong AI Lab have received patent approval from the China National Intellectual Property Administration. The system can understand and study the natural language by creating a self-adaptive learning loop, which has been widely deployed in China’s financial industry.
Recommended ITech News: Telit and ASOCS Partner on Turnkey Private 5G Networks for Industrial IoT
