Economic Observer Reporter Hu Qun html On February 9, Lanxiang Zhilian (Hangzhou) Technology Co., Ltd. (hereinafter referred to as "Lanxiang Zhilian") announced that it had completed a round A financing of nearly 200 million yuan. This is a new round of financing following Wanxiang Blockchain seed round financing, Jinshajiang Venture Capital and Lenovo Star Angel round financing. This round of financing was led by Xicheng Jinrui, followed by institutions such as Yuanhe Chongyuan Capital and Lenovo Star, and Shanjing Capital served as financial advisor. It is worth noting that the parties in this round of Blue Elephant Intelligent Financing all have state-owned assets background.
Blue Elephant Intelligent was founded at the end of 2019. Most of its founding teams come from Alibaba and Ant Group. After serving Industrial and Commercial Bank of China, Tong Ling, founder and chairman of Lanxiang Zhilian, served as chief architect of Ant Financial (now renamed Ant Group), and has served as chief architect of Ant Financial, Sesame Credit CTO, and founder of Ant blockchain and privacy computing platform. Xu Min, another founder and CEO of Lanxiang Zhilian, joined Alibaba in 2014 as vice president of Alibaba Cloud and general manager of Alibaba Financial Cloud Business Department, creating Alibaba Finance cloud business and gaining a leading position in the domestic market. It is understood that after this round of financing, Lanxiang Zhilian will further strengthen talent layout, mainly strengthen underlying technology research and development, data operation and customer service, and enhance the ability of Lanxiang Zhilian products to implement in more scenarios.
"Privacy computing essentially reduces the friction of data circulation and provides fresher and more secure in-depth data for the development of digital economy . Privacy computing technology is just a means, and the ultimate goal is to release the productivity of data elements." Tong Ling said that as a strong regulatory industry, finance is not only a data-intensive industry, with high data quality and high value, but also a data-demand industry, and the demand for risk control and blacklist sharing is urgent. Privacy computing technology provides new solutions for this. With the continuous improvement of relevant laws and regulations and industry standards for privacy computing technology, it is crucial to integrate and apply privacy computing technology into the financial field. Its implementation and development in key industries such as finance is crucial and will play an industry leader.
Blue Elephant Intelligence has reached cooperation with dozens of financial institutions, operators, and leading Internet companies, including Industrial and Commercial Bank of China, China Telecom , China Mobile, China Unicom , Shanghai Bank , Nanjing Bank , Hangzhou Bank , Guotai Junan , Xinwang Bank , and has become the drafting unit of the multi-party security calculation and federal learning related standards of People's Bank of China and the Ministry of Industry and Information Technology.
Privacy Computing Hotline
In early January this year, the People's Bank of China issued the "Financial Technology Development Plan (2022-2025)" pointed out that it will promote orderly sharing of data. In terms of technology, we actively apply multi-party security computing, federated learning, differential privacy, alliance chain and other technologies, explore the establishment of a cross-subject data security sharing privacy computing platform, and standardize data sharing applications while ensuring that the original data does not leave the domain, ensure that data interaction is safe, the usage is compliant, and the scope is controllable, so that data is not available and data is not moving.
Gartner listed privacy-enhanced computing as one of the important strategic trends for two consecutive years in 2020 and 2021, and predicted that by 2025, 60% of large enterprises will use one or more privacy-enhanced computing technologies; in June 2021, McKinsey predicted in Fintech2030: Global Fintech Ecological Scan, that automatic factor discovery, knowledge graph and graph calculation, and privacy-based enhanced analysis will play a greater value and list it as the primary technology trend that financial institutions should pay attention to. Alibaba Damo Academy also predicts that privacy computing will become a cornerstone technology in the security field in the future. In the future, privacy computing will be deeply integrated with various industries, moving from "privacy computing" to "privacy computing +", promoting the digital transformation and upgrading of all industries, and promoting the development of the digital economy.
As a data management industry, the financial industry has a large amount of important data information such as customer identities and property. These data and information play a fundamental, overall and leading role in the operation and development of financial institutions.Currently, leading financial institutions have achieved fruitful results in mining internal data value, but due to the single data dimensions and insufficient real-time performance, it is urgent to carry out cross-institutional and cross-industry data integration applications.
"Data has become a basic and strategic resource for the digital transformation of finance." Fan Yifei, deputy governor of the People's Bank of China, published in the October 2021 issue of "Financial Electronics", showed that from the innovative product design of "thousands of people and thousands of faces" to the financial service model of "one person, one policy", from the optimization of business process of "removing the drought and retention" to the risk security prevention and control of "removing the risk of insurance and security", the development of financial innovation and development has always been inseparable from the strong support of data. Financial institutions should attach great importance to data work, fully release data potential, and ignite the "data engine" of financial digital transformation.
However, data elements are widely distributed in many institutions such as banks, Internet companies, government departments, etc. They all have privacy and security needs, and it is not easy to unlock data potential. Privacy computing technology provides a key technical path for integrated solutions that are "available invisible", "available and controllable" and "controllable and measurable".
The white paper "Privacy Computing Promotes the Construction of Data Ecology in the Financial Industry" compiled by the Financial Technology Research Institute of Industrial and Commercial Bank of China shows that foreign privacy computing financial applications are still in the pilot stage. At present, related applications are mostly used in pilot scenarios such as credit risk control, anti-fraud, and anti-money laundering. There has not been a large-scale application yet, and there are few mature products. Domestic privacy computing and financial applications are leading internationally. Driven by top-level design, my country's Internet companies, technology companies and financial institutions have successively developed a number of formed privacy computing products in recent years. Related products have shown a platform-based development trend, and the technology combination and application are becoming increasingly obvious. Domestic demonstration scenarios have included credit risk control, product marketing, mobile payment facial recognition, cross-border settlement, anti-money laundering, etc., and their application scope is wider and more diverse than that of foreign countries.
releases data potential
"Blue Xiang Zhilian currently focuses on privacy computing in the financial field." Xu Min said that since 2014, the three major engine-level transformation drivers of the financial industry have been computing, scenarios and data. If the core leverage point at the computing engine level is "distributed cloud computing", the core leverage point of the scenario ecosystem is to take business to scenarios, so that the relationship between financial business and scenarios can be transformed from "you come" to "I go", the core leverage point of the data ecosystem must be "privacy computing". Privacy computing is a comprehensive application of several technical processing methods such as AI, big data processing and encryption, which makes it possible to flow efficiently, orderly and compliantly in the data ecosystem, and to realize the secure flow of various data sources such as financial institutions, operators or governments, etc. in the process.
On December 7, 2021, in the list of big data "Xianhe" cases jointly organized by China Information and Communication Research Institute and China Communications Standardization Association Big Data Technology Standard Promotion Committee (CCSA TC601), the results of "Inclusive Financial Services for Small and Micro Merchants Based on Privacy Computing" jointly submitted by Industrial and Commercial Bank of China , China UnionPay , and Lanxiang Zhilian stood out from hundreds of application projects and were selected as the benchmark case of big data "Xianhe" in 2021.
In this project, Blue Elephant Intelligence provides privacy computing technical support for Industrial and Commercial Bank of China and China UnionPay. Through its self-developed federal learning product GAIA·Cube, it promotes the circulation and utilization of data value in ICBC and UnionPay data without leaving the domain and ensuring information security. By combining Lanxiang Zhilian's deep accumulation in the field of data modeling, ICBC can enrich the portraits of small and micro enterprises, break the barriers to information exchange, effectively balance data privacy protection and value mining, and thus bring small and micro financial services to more customers. This project can significantly increase loan access for small and micro enterprises, and at the same time, increase the average credit per household by 30%. By improving the risk control model of inclusive finance , ICBC can more comprehensively determine customer qualifications and expand the service scale of customer groups of large and micro businesses.
"By introducing the federal learning platform, ICBC can realize the integration of scene-based data between UnionPay and the bank, and build a new scenario model and risk control system."Blue Xiang Zhilian algorithm scientist Mao Renxin said that under the meeting the requirements of data privacy, security and policy and regulations, this technology further enriches the portrait portrayal dimensions of small and micro merchants, reflecting the real income of small and micro merchants.
Jinshajiang Venture Capital Manager Partner Zhu Xiaohu said that with the country's emphasis on the standardized development of data elements, privacy computing, as the basic technology of the data track, has a very broad imagination space. Through the development of the past two years, Blue Xiang Zhilian has demonstrated the strength of industry leading companies in many fields, and has also been successfully implemented in many leading institutions such as ICBC and China Telecom. I believe that after this round of financing, Blue Xiang Zhilian will achieve a faster development, implement privacy computing and various applications among more industry customers, empowering to promote the healthy development of data elements and the industry.
State-owned capital entered the
The A-round financing parties of Blue Elephant Intelligence all have state-owned assets background. Among them, Xicheng Jinrui is a market-oriented professional investment institution with state-owned assets initiated and established by Financial Street Capital, China State-owned Enterprise Structure Adjustment Fund and China Guoxin Fund. Yuanhe Chongyuan Capital has a scale of 10 billion yuan and has cultivated and grown more than 20 listed companies. The two institutions will give full play to the advantages of industrial funds after investment to empower Blue Elephant Intelligence.
Xicheng Jinrui’s managing partner Huang Pu said that in the context of the digital economy, privacy computing is the key technology to make data a data element and then promote the development of economic development . The development of the privacy computing industry is the process of data elements promoting the development of the digital economy. Therefore, what is more important than the development of the privacy computing industry itself is the development of the "privacy computing +" industry. Data combined with privacy computing to promote various industries to move towards digitalization. Blue Elephant Intelligence It is one of the few teams that have both the technical capabilities of privacy computing products and the digital experience of the "privacy computing +" industry, and has been initially verified in finance and other industries. Xicheng Jinrui chose to invest in Blue Elephant Intelligence, and by giving Blue Elephant Intelligence more support, it will promote privacy computing to play a greater role in the big wave of the digital economy. Li Weiqi, partner of
Yuanhe Chongyuan Investment, said that Yuanhe Chongyuan has always practiced the long-term investment route in the field of ABCI (A is artificial intelligence , B is big data, C is smart cloud, and IoT is the Internet of Things). He has invested in many digital enterprises that are influential in various scenarios. Through more than 18 months of research on the privacy computing track, it is honored to move forward with Blue Elephant Intelligence. Blue Elephant Intelligence has rich enterprise-level experience, excellent product technology capabilities, and in-depth application of data, and has obtained finance and operation The verification of the most leading customers in the production system of many industries such as business and government. Through this round of financing, Yuanhe Chongyuan will inject stronger development momentum and Yuanhe resources into Blue Elephant development, and promote the application of privacy computing products, technologies and industry to a new height.
Xu Min told Economic Observer that through a strong alliance with Xicheng Jinrui and Yuanhe Chongyuan, BlueElephant Intelligent Alliance will invest excellent products, services and data operation capabilities into national key industries under the guidance and requirements of the overall national policies and regulations, make greater contributions to the overall digital upgrading of the industry, and work with more partners to create a safe, compliant, healthy and sustainable data collaboration ecosystem to promote the construction of data infrastructure in the whole society on a larger scale.
This article has been certified by "original" original, author Economic Observer, visit yuanben.io to query [4NAJF1S8] for authorized information.
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-