OneConnect Partners with Fujian Rural Credit to Upgrade Interest Rate Pricing System
Recently, OneConnect successfully won the bid to optimize the interest rate pricing management system (Phase III) for Fujian Rural Credit Union (referred to as “Fujian Rural Credit”). OneConnect will further empower Fujian Rural Credit to enhance its interest rate pricing management capabilities, driving its high-quality business development.
As the largest banking network in Fujian Province, with the most employees, the widest service coverage, and the strongest support for agriculture, Fujian Rural Credit operates 67 credit unions and rural commercial banks, 43 village banks initiated by 10 rural commercial banks within the network, nearly 2,000 branches, and a workforce of 19,000. By the end of 2023, the total assets of the Fujian Rural Credit system reached 1.29 trillion RMB, ranking 22nd among the top 100 enterprises in Fujian and 2nd in the banking sector.
With intensifying market competition, Fujian Rural Credit has faced a rapid narrowing of its interest rate spread, highlighting the need for a more robust interest rate pricing system to improve precision pricing management. From 2021 to 2023, OneConnect developed and optimized the interest rate pricing management system for Fujian Rural Credit, earning high praise for its quality service.
OneConnect proposed a comprehensive system upgrade tailored to Fujian Rural Credit’s needs in this Phase III project. The upgrade includes enhancements to loan plan settings, self-pricing plan settings, and the interest rate decision tree model. Additionally, new features such as a pricing score model, base rate settings, and custom adjustment options have been added. These enhancements will further strengthen Fujian Rural Credit’s interest rate pricing management, supporting its high-quality business growth.
Winning this bid not only affirms OneConnect’s technological expertise in fintech but also marks a significant milestone in its efforts to expand nationwide, deepen client relationships, and enhance quality and efficiency. Moving forward, OneConnect will continue to leverage its technological and service advantages, advancing into the national market with a fresh approach. The company remains committed to providing superior solutions to its clients, driving high-quality development, and contributing to the digital transformation of the industry.