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China Builds 1st Banking Data Bank
Construction of China's first banking data warehouse started Wednesday in the Industrial and Commercial Bank of China (ICBC).
A spokesman for the ICBC said that data warehouses enable commercial banks to assemble dispersed information, turn potential tips into valuable information, transform source information into direct and clarified information, so as to change the bank's after- event response to pre-event control of their management activities.
The spokesman said that the data bank can also help commercial banks promptly find out clients' economic operation rules, select quality client bases, predict clients' individual demands and largely improve bank's marketing capabilities, in a bid to optimize financial resources in the market and improve risk prevention.
He said that its construction is a complicated long-term project, and the first stage of the ICBC's data bank will be finished in two months and one to two applying systems are expected to be operational within the year.
On this basis, he added, the bank will continue to enrich and improve the systems and gradually expand on the project.
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