Nov 20, 2019 (China Knowledge) - China’s e-commerce giant JD.com (JD) announced its new fintech service which aims to help in the digitalization of operations for financial institutions in China.
The new fintech service is called “JDD T1”, and will offer a customizable platform that enable companies to digitalize and optimize operations. According to Xie Jinsheng, vice-president of JD.com, JDD T1 will help financial institutions to “digitize and optimize their operations” using “technologies such as big data”. Through the new service, financial institutions can increase efficiency, while at the same time lower risks and costs.
JDD T1 will be built around cloud technologies, such as infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), data-as-a-service (DaaS) and function-as-a-service (FaaS), to create an integrated and comprehensive platform for financial institutions and banks.
The new fintech service will be developed by JD Digits, which is a subsidiary of JD.com. JD Digits, previously known as JD Finance, aims to kickstart its transformation from a finance company into a tech-based service provide via the launch of its new fintech service.
JD Digits will assist its customers in analysis of big data, as well as technological support. JDD T1 will also include functionalities such as predictive models and intelligent recommendation technology which will help financial institutions increase sales while enhancing efficiency.
The launch date of JDD T1 was not disclosed, however.
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