China: WeiyangX Fintech Review

Insurtech Platform Shuidi SecureS US $230 Million D-round of Financing

On August 20th, at the 2020 Global Partner Conference of Shuidi Insurance Mall, Shen Peng, founder & CEO of Shuidi, announced that the company had completed a series D financing of US$230 million, led by Swiss Re Group and Tencent and with participation from existing shareholders (e.g. IDG Capital).

It is understood that Shuidi is the first insurance technology company invested by Swiss Re Group in China. (Source: WeiyangX)

Shenzhen-Hong Kong-Macau Fintech Professional Program Held the First Exam, Attracting Over 1,500 Participants

According to the “Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area”, the Shenzhen Municipal Financial Regulatory Bureau, monetary administrations of Hong Kong SAR and Macao SAR, 30+ financial services related institutions, higher education institutions, and industrial associations launched the “Shenzhen-Hong Kong-Macau Fintech Professional Program” on March 23rd, 2019. After a year and a half of preparations, the first examination for this Fintech talent certificate was held on August 15th.

The one-day exam focused on basic understanding of finance and computing, as well as related laws, regulations, and rules. Due to the COVID-19, the 1,500 participants from mainland China, Hong Kong and Macau were all required to attend the exam online. (Source: The Paper)

Hangzhou Unveils First Cohort of Fintech Sandbox Projects

On August 14th, the Hangzhou Branch of the People’s Bank of China unveiled the first cohort of projects accepted into its Fintech sandbox and initiating a public consultation towards these innovative practices. According to the announcement, technologies employed by these projects include Big Data, blockchain, Artificial Intelligence/Machine Learning, Satellite Remote Sensing and Remote Video. (Source: STCN)

WeBank Initiates FinTechathon 2020

WeBank‘s 2nd Fintech University Competition (FinTechathon 2020) was officially launched this month. This competition is sponsored by WeBank and co-hosted by Shenzhen University WeBank Institute of Fintech (SWIFT). This online competition has two separative tracks. The artificial intelligence track requires the participating teams to conduct anti-fraud attacks in the face recognition scenario based on the WeBank’s “Caiwei” platform. The participating teams on the blockchain track will compete around the FISCO BCOS blockchain platform and related open source solutions in the direction of public welfare, the “island effect” of data, and people’s livelihood issues.

In addition to receiving guidance from college mentors, the participating teams can also receive follow-up guidance from technical experts in the industry. The results of the competition will be reviewed by the competition expert committee. There are three levels of awards in each track, with a first prize of 100,000 yuan. Opportunities of investment, employment and internship will also be provided to the winning teams.


 

The above is a weekly synopsis of the biggest stories on Fintech in China provided by WeiyangX, part of Tsinghua University, in partnership with Crowdfund Insider.

WeiyangX is the most influential website focusing on Fintech in China. The site covers the latest news, industry data analysis, business practices, and in-depth Fintech cases in Fintech. WeiyangX is incubated by Fintech Lab. Founded by Tsinghua University’s People’s Bank of China (PBC) School of Finance in 2012, the Fintech Lab is the first and leading research entity dedicated to leading best practices, promoting interdisciplinary innovation, and encouraging entrepreneurship in the field of fintech through scientific research and innovative project incubation.

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