News Snapshot:
A big state-owned bank has integrated with the financial services platform of China’s state procurement authority as part of efforts to drive financial inclusion for small-scale suppliers. Bank of China (BOC) recently completed systems integration with the financial services platform of the Central Government Procurement Centre (中央国家机关政府采购中心), with a view to “injecting digitisation vitality into relieving the financing difficulties of micro and small enterprises.” BOC recently became the first bank to enter a strategic cooperative agreement with the centre, outlining the use of big data to drive financial inclusion for MSE’s by helping to resolve information asymmetries. Following the integration...
