Block chain technology to reshape the bank risk management
The digital information era, people and technology integration is the key of financial risk management, this is precisely the most banks can play the advantages of.
Digital information technology, Internet, cloud computing, big data block chain, sensor technology, networking, artificial intelligence, automatic driving really good. In 2016 Chinese more than 700 million users, the network of retail turnover of more than 5 trillion yuan. Convenient service, customer experience is good, people holding a smart mobile phone at home, from the supermarket to pay the rent, buy insurance and loans and the entire sac.
Although technological progress, productivity has increased, but the nature of financial services and professional requirement has not changed, the risk will not disappear. The facts and evidence, peel the modern coat, moral risk, long operating risk, credit risk, liquidity risk, financial technology, a lot of. Only recognize and face the risk, in order to down-to-earth innovation into the digital information technology revolution, not a good thing bring new risks.
Only a short while ago, the American financial technology leader LendingClub with large data risk control technology unlimited scenery. However, with a $22 million loan to break the myth of illegal sale of LendingClub. The original LendingClub debt default has risen, and the lack of savings funds as sources of loan funds, only through the sale of loans to obtain funds to continue lending. For the solution of LendingClub credit risk, as pressing danger, ignoring the moral risk, liquidity risk investment in a purchase loan fund, let it continue to buy their own payment for subprime mortgage securitization bonds. The domestic Internet Financial benchmark — ant gold suit’s trick treasure Qiao Xing 1 billion 100 million yuan private debt default event “, a fake bank guarantee pianbao Piandai, which ignited the 2016 bond crisis of Sealand securities” radish chapter “event, as well as the bank repeatedly made billdisputes essential differences? But the traditional credit risk, moral risk, operational risk, liquidity risk is repeated in the modern financial technology platform.
Distributed block chain technology set and validated all participants in the transaction synchronization information sharing, reduce no doubt benefits the middle part of the transaction. When the block chain technology from the concept of abstract discussion of fuzzy real concrete innovation as the asset custodian bank, clearing business, collusion theft seal Sike forged identity authentication in dense misappropriation, steal account funds for traditional bank operation risk may not be wearing a new coat to reproduce the block chain business. Trust based block chain trading is the counterparty to determine the absolute physical space all the identity of the person involved in the transaction. There are physical space identity and key blocks in the chain Trading (digital identity) separation, the key used to provide the digital signature to block chain transactions, physical space through a password or multi factor authentication procedures to verify the identity of the trader. The problem is that second people can steal the password or token second factors, and then use the assigned to the first personal key execution block chain transactions, the first person can participate in criminal activities voluntarily to another password and token, and for the key fingerprint recognition technology of modern biology may also exist serious privacy fingerprint, facial, and other physiological records, this creates an opportunity for citizenship by hacking fraud. Release film face and hands photos, fingerprints and other information being stolen is not imaginary, but a living reality.
Intelligent demand traction, two yuan from the world space structure (physical, human society) to three yuan (the spatial structure evolution of information network, the physical, human society) – people, machines, and network node complex intelligent system synthesis. However, when all the equipment into the intelligent access network, the possibility of attack the evolution of systemic risk also increased. In October 21, 2016, due to hacker network attack intrusion control about one hundred thousand intelligent hardware devices, resulting in more than half of the United States network service paralysis. In the face of attacks, banks are difficult to find it. The new technology of cloud computing, networking and other banks to create a smart network, make customer self-service business and information processing to achieve seamless business achieved automatic processing. At the same time, there are hackers using POS machine, ATM, intelligent robot, automatic teller machine, machine, printer, intelligent products for electronic banking experience devices such as smart terminal networking devices contain vulnerabilities and lack of opportunity, lock protection system, launched a chain of attack makes bank paralysis. In February 5, 2016 the Central Bank of Bangladesh hackers steal $100 million event to go.
Alfa beat Li Shishi dog chess chess landmark event aroused hot artificial intelligence. Indeed, artificial intelligent driving and improves the automation level of financial services. The bank has launched a consulting service robot “MerrillEdge”, providing automated advice service for retirement savers account management. But don’t forget the artificial intelligence is given by the people, the designer’s risk preference, the moral standard undoubtedly is also reflected in the behavior of artificial intelligence. Intelligent investment adviser if a designer develops a malicious is adopted, the financial market asset prices will inevitably lead to abnormal fluctuations. At the same time, depending on the behavior characteristics of network data reflect the model automatically make credit decisions, may be due to the inherent program algorithm model of the amplification of vulnerable groups of prejudice, system to make some groups at a disadvantage, data gap intensifies rich richer and the poor poorer mataixiaoying, away from the network service inclusive financial intention. The current Internet financial, financial technology and Small and micro businesses blossom everywhere, and the “three rural” social financing is still the weak link cry piteously for food is proof.
What is more, a large number of investors to hire the same outstanding intelligent investment advisers to manage its own investment account, the homogenization of operation may be “concerted action” phenomenon, the use of market manipulation will inevitably be have an ulterior motive. Quantitative trading market caused the market to foreign It is often seen. flash collapse has now emerged this Oolong refers to the incident. Moreover, in the face of the black swan event of small probability events triggered by the market crisis, the program is just a mechanical task, herd behavior stylized “Great minds think alike.” can market to a unilateral trend aggravate panic, contributed to systemic risk. The algorithm model is the basis of artificial intelligence, the Asian financial crisis in the long term capital performance history of 97 years, and in 2008 the international financial crisis reflects the lack of mathematical model of model of risk management based on risk and bring. The bank is working experience in risk management not only for work, also means that people’s values, sense of responsibility and professional knowledge judgment. During the crisis, human or machine, who believe it is worth pondering.
Technical progress in the service, the resulting risk need to solve the correction. Because bank deposits from the public, with money creation function, has been compared to other financial institutions more stringent regulation. Therefore the banks have accumulated for decades or even hundreds of years of experience in risk management, risk control personnel strong. In order to ensure the customer information security, financial security, transaction security, resulting in business process is relatively complex, brought to the bank customer experience decline. But this is the largest bank in the digital age risk control advantages. The bank by virtue of experience and wisdom of risk control personnel savings to embrace technology, online customer service and wind control combined with the achievement of competitive advantage.
One is the basis of liquidity risk management and the integration of human and technology. The bank to build digital channels to serve the people’s livelihood. To speed up the “Internet plus bank” services and livelihood services docking, through the layout of health and education, transportation, catering, entertainment and other livelihood services for specific customer groups to build the ecosystem, relying on clothing, food and shelter, and play the scenes of life to create a smart mobile phone, digital network platform to carry out precision marketing channels for customers. The scene will be paid, consumption marketing, finance, financial and banking services into one, to achieve faster, more transactions to enhance customer service experience. The bank will strengthen the cooperation of community network and other industry chain outlets for each channel, to promote the line of customers into online customers. We will trust, securities, information management, insurance, funds and other formats and electronic banking financial integration, to function as the basis, through the exploration of mobile payment, cloud computing, big data, smart investment consulting, O2O business model innovation, fusion construction standardization, intensive network and intelligent integrated management the service mode, expand the core customers and enhance customer loyalty to overcome the financial disintermediation, effective diversion, collecting social fund stable deposit liabilities management optimization, tamp the base of liquidity risk management.
The two is the person with the fusion operation risk prevention. Adhere to the “know your customer” principle”. Manual verification and technical innovation in parallel, the good foreground account authentication and network access node, strict implementation of customer identification, customer account information audit, detailed understanding of customer related information, according to the business scope of the corresponding open account and network nodes, to ensure the physical identity and digital identity agree. To ensure the safe and reliable encryption technology, adopt biometric password technology to multidisciplinary, strict and cautious verification to prevent disclosure of personal privacy. The key to establish perfect management system, improve the security key and certificate, and effectively protect the personal information and financial transactions transmission security of users, to prevent the key from being stolen from trading fraud risk. Focus on customer capital flows, a comprehensive collection of customer online transaction data, the accumulation of customer behavior information, grasp the latest information of customers in a timely manner, to ensure that the transaction of funds, accounts and safety from the source.
The three is the person with the technology to prevent credit risk. The implementation of the loan before the loan, and the loan “line + big data integration of wind control. The line on the loan before the double field investigation, risk manager and client manager parallel operations, involved in the loan before the survey, responsible for on-site examination work, check whether the project meets the trial conditions. Risk managers need to have field witness qualification, can bear witness field work. Set the access mechanism, the first access to credit projects must be approved by the marketing organization loan review committee meeting resolution can be submitted for approval by the collective, double cross wind control audit borrower information. The bank is known as the “national economic accounting thin” reputation, record and service with thousands of households and all walks of life and economic activities, precipitation of historical data thick, strengthen data mining big data play wind control timely monitoring in terms of the loan, the loan after advantage. The borrower to apply for materials, bad credit records and multi platform lending records, payment settlement and other information to be integrated to build a multi-dimensional model of cross validation, effectively identify the gang fraud, misappropriation of funds and other high risk behavior, based on customer behavior of loan, loan risk monitoring system, ensure the safety of assets.
Four people and technology fusion enhancement technology security. Good technical security personnel to build multiple high availability architecture (disaster recovery) to improve service availability guarantee rate, automatic backup, data recovery for many years, the automatic monitoring and warning system, prevent hacker intrusion attacks, regular performance inspection, financial transaction records tamper setting, background management system of real name binding single sign on, the log record tracking to ensure data security, business.
Five is the first fusion technology and system. The formation of the professional online customer manager team, responsible for promoting the integration of bank network marketing resources, and financial related bank network platform, product marketing and operation management. Responsible for the internal potential to promote business cross selling, and other business customers to the network migration, and the external volume was off. And directly carry out the relevant business line to expand the market, create a professional, collaborative linkage, bank financial network marketing online and offline integration. And the use of technology innovation risk management system, the introduction of customer behavior and transaction analysis system based on customer behavior analysis to set up monitoring system in transaction risk as the basis for business development escort.
Six people-oriented and technology integration. People are the decisive factor, no matter how advanced technology, professional judgment, risk management still cannot do without the occupation morality and sense of responsibility. The main responsibility for strengthening the prevention and control of risk coverage blind spots. The establishment of intelligent investment consultant design developers and users of the filing system, strengthen the intelligent investment adviser source code quality control, regular security audits and vulnerability checks, to prevent malicious and deliberate vulnerabilities caused by the failure of the transaction risk. The prevention mechanism to establish the intelligent investment adviser abnormal behavior, when necessary to carry out artificial intervention from the manual automatic switch, ensure the security of transactions. Clearly the main responsibility for risk management, the establishment of artificial monitoring positions corresponding to the responsibility for the behavior of intelligent investment adviser, to prevent the “concerted action” phenomenon of market manipulation, and correction of systematic risk facing the risk caused by the small probability event model.