BEIJING, May 24, 2024 /PRNewswire/ — A news report from ifeng.com:

Recently, the Alibaba Cloud International Summit, with the core theme of “Orange Cloud Going Global, New Journey of Financial Technology”, was grandly held. Jia Xudong, partner of Fintopia, was invited to attend the conference, where he joined many industry experts to discuss the future of financial services under the backdrop of digital transformation, as well as industry focal points such as technical security and compliance innovation, aiding the financial sector in crossing national boundaries and steadily advancing into the global market.

According to Jia Xudong, Fintopia currently serves over 100 million users worldwide and has established partnerships with over 90 financial institutions, with a monthly transaction volume exceeding billion of RMB.

Addressing issues related to data privacy and compliance,  Jia Xudong also shared his views. He mentioned that Fintopia mainly focuses on improving its data privacy protection capabilities from three dimensions:

Firstly, at the team level, Fintopia places great importance on continuously enhancing the overall capabilities of the team, aiming to make more accurate user assessments with minimal user information to meet users’ financial needs.

Secondly, the cross-border replication of compliance practices. Different countries have varying requirements for data and personal privacy. Based on its practices in multiple countries, Fintopia applies higher standards to other countries, allowing compliance practices in each country to stay ahead of regulations as much as possible.

Thirdly, continuous technological innovation. Fintopia has no upper limit to its investment in data privacy protection and data security. They have developed their own systems for user data collection, storage, computation, mining, and a full set of data middleware to help team members improve their work efficiency to the maximum extent without touching users’ personal privacy.

Through Jia Xudong’s introduction, it is evident that the market has already noticed and taken action on some of the risks that financial technology will face when going global. As he said, “All investments in data security and personal privacy will become the core competitiveness of financial technology companies in the future.”