Empowering the Digital Transformation of Green Finance – REGTEK (Beijing) Technologies Released the Financial Green Digital Base(China Finance)
On July 22, the Symposium on the Green Digital Transformation of Finance and the REGTEK (Beijing) Technologies’ Financial Green Digital Base Product Launch Conference were held in the Zhongguancun National Independent Innovation Demonstration Zone Exhibition Center. Mr. Liu Yong, Secretary-General of Zhongguancun Financial Technology Industry Development Alliance presided over the meeting, and relevant experts from the Digital Energy Special Committee of the International Computing Machinery Association, Digital Wanrong of the Ministry of Industry and Information Technology, Credit Reference Center the People’s Bank of China, Peking University, Hong Kong Polytechnic University, Industrial and Commercial Bank of China Financial Technology Research Institute, BOBFINTECH, REGTEK (Beijing) Technologies Co., Ltd and other units participated in the discussion. As a cutting-edge FinTech company, REGTEK (Beijing) Technologies released an innovative product -- Financial Green Digital Base at the meeting, aiming to provide technological support for the digital transformation of green finance.
Experts attending the meeting believed that achieving the goal of carbon neutral and carbon peak and developing the digital economy are two major trends of the country’s future development, and the financial system will continue to play a driving role in these two trends. On the one hand, financial institutions should make full use of the latest technological achievements to speed up product and service innovation and meet the growing diversified financing needs in the process of green economy development; On the other hand, it is required to take the initiative of improving risk control ability, strengthen risk identification ability while expanding green finance, ensure the sustainable development of green finance, and avoid potential systemic risks.
Regulatory technology will make use of its own advantages to provide policy guidance and compliance guarantee for the compliance and innovation of green finance. The Financial Green Digital Base not only reflects the current national green financial policy guidelines and regulatory norms, but also integrates forward-looking digital concepts and advanced information technology, which can be regarded as a cross-disciplinary information infrastructure to help the development of green finance. Experts believe that the Financial Green Digital Base conforms to the national strategy of “Dual Carbon” and digital economy development and provides a set of intelligent overall solutions for regulators, financial institutions and companies to practice green finance. It not only implements the requirements of developing digital green finance, accelerating the digital transformation of financial institutions, and strengthening the prudential supervision of financial technology emphasized in the Financial Science and Technology Development Plan (2022-2025) of the People’s Bank of China, but also reflects the guiding spirit of “improving the green information disclosure mechanism of enterprises” in the Guiding Opinions on Strengthening Industry Integration to Promote Green Industrial Development issued by the Ministry of Industry and Information Technology, the People’s Bank of China, and the CBRC. In addition, the Financial Green Digital Base follows the requirements of “strengthening carbon data quality management” in the Measures for the Administration of Carbon Emission Trading (for Trial Implementation) and other documents of the Ministry of Ecology and Environment, and effectively uses various technologies such as artificial intelligence, blockchain, the Internet of Things, and privacy enhanced computing to achieve the goal consistency, business interaction, and data sharing between regulators & financial institutions and companies in helping the development of green finance.
Specifically, the Financial Green Digital Base scheme applies the concept of regulatory technology, injects policy requirements, industry standards and economic rules into the digital transformation of green financial business, and provides a series of standardized products and rich toolbox for financial institutions. Among them, the Tanshangce is about policy digitalisation services, providing regulators with a digital handle to promote the implementation of policies, and providing financial institutions and companies with a verification mechanism for policy compliance; the REGTEK (Beijing) Technologies provides a unified carbon accounting and environmental information disclosure platform for regulators, financial institutions and companies (the Environmental Development Center of the Ministry of Ecology and Environment provides accounting verification for the system, and the People’s Bank of China provides environmental information disclosure for the credit collection service); Tanlianzhen is a “Dual Carbon” development pressure testing system; Tanzhimai provides the reporting function of green regulatory data; The Tanhuajin + Toolbox provides carbon factor upgrading tools for various business systems.
Faced by the three-layer format of regulation, finance and industry, and the complex business scenarios of the multi-dimensional industrial chain, the Financial Green Digital Base uses a Lego-style product combination to build a comprehensive system to integrate policy information, financial information, Dual Carbon information, and business information. This system supports green development and digital transformation in an efficient and flexible manner. The scheme has six business characteristics, namely, goal orientation, global system, dynamic iteration, data isolation, efficient collaboration, and ease of use, as well as technical characteristics, such as autonomous control, digital intelligence architecture, model driven, standard compiler, and algorithm intelligent configuration.
REGTEK (Beijing) Technologies is the observer commissioner of the China Financial Standardization Technical Committee (CFSTC), the expert commissioner of the China Quality Management Association for Electronics Industry (CQAE), the expert commissioner of the National Electronic Business Standards Committee and the vice chairman unit of the Zhongguancun Financial Technology Industry Development Alliance. At present, REGTEK is also the only Chinese member of the GLEIF Vendor Relationship Group. Adhering to the concept of “integrating regulation and compliance”, with the goal of “comprehensively utilising advanced information technology to enhance financial innovation service capabilities and risk prevention capabilities”, REGTEK(Beijing) Technologies help policy makers, regulators, financial institutions, companies and other parties form a joint force to effectively implement the national financial stability and development strategy. Since its establishment, the company has provided many commercial banks and Fintech companies with safe and agile regulatory technology solutions, contributing to financial regulation and green financial digital transformation.