Agricultural Bank of China establishes fintech innovation lab

Source: Agricultural Bank of China

Agricultural Bank of China Limited (ABC) recently established the "Internet Financial Technology Innovation Lab" to strengthen and improve ABC's Internet financial innovation mechanism and internet financial business.

The Lab is a tri-level architectural construct: innovation steering group, innovation lab base, and innovation volunteers. Under the strategy of "Technology First", ABC actively launched the prospective study on key technological areas related to the internet finance for rapid development of ABC's internet finance through technology innovation. The lab will mainly engage in innovation exchange, innovation summary, innovation publicity, innovative experiment, evaluation and promotion of innovative results, innovation awards, and patent application.

In the future, ABC will accelerate the study and application of internet technology, constantly strengthen the transmission of technological innovation to banking innovation, and strengthen the delivery, rapid response and innovation of software by means of comprehensive integration of technology and business, all with the singular goal of improving the rapid development of ABC's internet banking business. 

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