Hosted by CTA, a seminar on financial technology and trust companies’ development was held on January 24th, 2019 in Beijing. Over 90 people, including representatives from supervisory department, trust companies, Fintech companies and China Trust Registration Co., Ltd., participated. This seminar was presided over by Mr. Yan Jiandong, the Full-time Vice President of CTA.

During the meeting, Mr. Li Feng, President and Executive partner of Shenzhen Zhongshunyi Financial Services Co., Ltd. shared his understanding of the classification of service trusts. He pointed out that trust account is an important foundation of service trusts, and expounded the role and profit analysis of service trusts as well as the systematic relationship between service trusts and scenarios with a case study. Mr. Feipeng, Chief Investment Officer of Shenzhen Wanwei Asset Investment Co., indicated that financial science and technology can become an important auxiliary tool for the transformation of trust industry. It can help to build a new wealth management mode in six aspects: the integration of account management system, one-stop family trust system, intelligent online asset allocation, systematic operation in the background, data analysis of customer behavior and scientific analysis of trust bottom assets. Mr. Gaoqiao, Vice President of Tongdun Technology Co., Ltd., shared with participants the development status of consumer finance industry, risk points and countermeasures of consumer finance business, as well as cooperation with trust companies in relevant business areas from the perspective of consumer finance risk control.

Representatives from trust companies introduced the development process, system framework and application of financial technology of their companies. They also shared the role of financial technology to support the development of securities trust business, consumer finance, financial services of small and micro enterprises, and discussed the technical support and IT foundation for service trust based on specific areas.

Participants believe that in the era of rapid financial and technological change, digital transformation is one of the future trends and directions for trust companies.