China Insurance Corporation Intends To Launch Its Boutique Bank Based On Blockchain Technology

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A subsidiary of the Chinese corporation Ping An Insurance Group, Ping An Bank is working on launching a boutique bank based on Blockchain technology, the Internet of Things (IoT) and cloud services. It is worth noting that Ping An Insurance Group is one of the largest financial and insurance companies in the world. November 20, People’s Daily reported on a new project of the company, which is managed by Ping An Bank.

Boutique Bank is an incomplete investment service focused on more individual services than companies usually use.

As reported, the bank will work on the basis of research conducted by the Ping An Group in the field of science and technology, as well as use comprehensive financial capabilities, which will provide an opportunity to provide companies with access to integrated financial services based on the Ping An Bank service platform, which is called “SAS”.

Using a number of innovative technologies, such as artificial intelligence, Blockchain, and cloud technologies, Ping An Bank intends to “provide low-cost, efficient and personalized public services.”

People’s Daily reports that the use of these technologies will increase the level of management and services, as well as provide an opportunity to guarantee integrated management, marketing, risk management, capital management, payment, operations, and financing.

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