According to the announcement issued by the PBC Shanghai Head Office on April 29, five innovative applications have been registered in the second batch of Shanghai Fintech Regulatory Sandbox and will officially provide services to users. The project "Merchant Service Platform Based on Big Data" successfully on the list which set a milestone in the development of Fintech transformation of Allinpay. The Allinpay product "YunShangTong" based on this project was synchronously launched onto the market. Allinpay has the purpose of helping enterprises to carry out digital transformation construction.
According to the News of PBC Shanghai Head Office, in order to accelerate the construction of the Shanghai Fintech Center and implement the FinTech Development Plan (2019-2021), with the support and guidance of the Headquarters of the PBC, the pilot work of supervision and control of Fintech innovation in Shanghai has been steadily advanced. The Fintech Sandbox focuses on the application innovation frontier such as multi-party security computing, video recognition, audio recognition, image recognition and AI Financial products and services.
The purpose of Fintech Sandbox was providing accessible financial services to the public and small and medium-sized enterprises, implementing inclusive finance, narrowing the "Digital Divide", improving customer satisfaction with financial services, and enhancing financial risk prevention capabilities. It aims at making finance smarter, warmer and safer.
The project which can be approved by regulatory agencies should thanks to the continuous deep cultivation in enterprise digital operations services and smart account management. The pilot project has evolved iteratively from the exploration and application of early business models, and can play a significant role in helping enterprises optimize their account management and improve their operation quality and efficiency. Based on the capabilities and advantages of this service platform, Allinpay creates product named as "Yun Shang Tong". The product has applied for real estate, automotive, education, business travel, cross-border and other in
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