In January 2022, the "Fintech Development Plan (2022-2025)" put forward the vision for the development of financial technology during the "14th Five-Year Plan" period, clarified the guiding ideology, four basic principles, and six development goals for the development of financial technology, and determined 8 key tasks and 5 safeguard measures further clarify the direction of fintech development. In recent years, as the wave of financial technology has swept the capital market, the ecological competition in the securities industry has intensified, and regulatory policies have actively guided and supported securities companies, securities companies have actively embarked on a new journey of digital transformation.
1. The status quo of digitalization in the securities industry
The informatization infrastructure has been completed and a large amount of data has been accumulated
Data islands: The information system data created by each manufacturer cannot be fully connected.
Development lever: A large amount of data is waiting to be mined and analyzed for value, which requires the introduction of artificial intelligence.
Human factors risk: Human labor will cause data security problems, fatigue and misoperation problems.
The main goal of digitization
Basic goal: to reduce labor costs by introducing automated digital employees to replace inefficient and repetitive manual work such as data processing and process operations.
Advanced goal: To improve work efficiency by introducing intelligent digital employees to replace cognitive and experiential mental work such as data review and process decision-making.
Ultimate goal: Through the introduction of digital employees and artificial intelligence technology, study, research and precipitate massive data, and mine data value to empower development.
2. One-stop solution for digital employees
Automation solution
Process automation: instead of manual work, it realizes the substitution of procedural and repetitive software operation work. Typical example: automatic evening liquidation.
Data automation: instead of interfaces, realize data links between systems and applications. Typical such as: valuation adjustments.
Intelligent solution
Basic intelligence: Invoke basic AI capabilities to assist the intelligent application of basic functions. Typical example: OCR bill recognition.
Business intelligence: train the business AI model to realize the intelligent realization of business scenarios. Typical example: account opening review.
global data solution
Data collection: Data structured processing and batch collection based on artificial intelligence. Automatic batch collection based on automation.
Data storage: seamlessly connect to mainstream databases, synchronize data in a lightweight data center, and super-automate data for all business scenarios.
Data application: support BI data analysis and large data screen. Supports AI data modeling to realize intelligent analysis and prediction of data.
3. Cases of securities digital employee scenarios
(1) Smart account opening business
business background
Customer account opening business is one of the main businesses of securities companies. It requires each securities company to fill in the customer's materials correctly and standardizedly on Zhongdeng.com for review, and then fill in the information into the securities company's system after the review. RPA robots can review, screen and enter materials regularly every day, so as to realize the fully automated processing of the account opening process. While completing the end-to-end automated process of "review-collection-entry", it greatly improves the work efficiency of employees, improves the speed of business execution, and reduces the error rate caused by manual operations.
effect value
Establish a process automation platform: establish a process automation platform in business departments or sharing centers, use digital technology to standardize processes for general processes, general planning platforms, and enterprise-level information standards, and realize comprehensive automation and upgrading of financial business processes.
Intelligent upgrade: Using robotic process automation, artificial intelligence (OCR/NPL, etc.) and advanced visual analysis to improve processes can quickly seize new business value opportunities.
(2) Bank data import system
business background
It involves frequent and single query operations, and there are many query function points, and the relevant data is summarized, and the efficiency of manual processing is low. If the import is not timely, it will lead to the failure to monitor the capital situation in time. Securities companies have extremely high requirements for operations. Not only must they be fast, accurate, and stable, but they also need to ensure that the entire operation is error-free in order to maintain the continuity of the securities system. At the same time, for daily data submission, it is necessary to ensure that the amount is accurate and the supervision data is submitted without errors or omissions.
effect value
Obtain data in a timely manner to ensure data timeliness: RPA robots regularly perform process tasks every day, from logging in, downloading to importing data, without requiring employees to repeatedly check and download.
There is no need to manually switch multiple systems repeatedly for data integration: it can save up to 8 hours per person/day, with a high rate of return on efficiency, freeing employees from boring click work, and improving their enthusiasm for work.
(3) Asset transfer
business background
The transfer of securities assets needs to pay certain transaction fees, including securities transaction fees, transfer fees, stamp duties, etc. These fees will increase transaction costs and reduce investment returns.
effect value
Automated asset transfer process: RPA can automatically execute the asset transfer process specified by the stock exchange, including verifying asset information, confirming transaction details, and generating transaction records.
Reduce the error rate: RPA can avoid human errors caused by manual operations and improve the accuracy and reliability of transactions.
(4) Classic data report
business background
The content of the business data report is complex, and it may take a lot of time and effort to analyze and understand, increasing costs.
effect value
Increased Satisfaction: Digital workforces automate repetitive and standard tasks, improving overall employee productivity and thereby improving service levels.
Reduce labor costs: In the face of repetitive tasks with large amounts of data, manual operation of machinery is cumbersome and inefficient. Robots can work 7*24 hours a year without interruption, greatly reducing labor costs.
(5) Fund valuation business
business background
For securities companies, there are thousands of entrusted products, and the data needs to be split according to the fund every day, sorted and uploaded to the valuation system, and then a series of related operations are performed. Before the introduction of RPA tools, manual processing was required for 4 hours a day, and because many funds had similar names, the manual processing error rate was high. RPA tools can not only improve business efficiency, but also expand flexibly, accurately collect cross-platform and cross-system data in a non-invasive way, automatically process data information, and shorten response time.
effect value
Valuation business automation: Through the development of a professional RPA team, the process was launched quickly, realizing the automated processing of the valuation business, and advancing the daily execution time to 4:00 a.m., with a 100% correct rate of operation execution, saving monthly savings The operating time of employees is estimated to be 4800 minutes in total.
Convenient maintenance: Since it is developed by the company's internal team, the maintenance of the entire process is more convenient and faster.
(6) Release of financial information
business background
With the continuous development of the Internet, the cost for people to obtain information is getting lower and lower, and the timeliness requirements for information are also becoming higher and higher. Various securities companies have developed financial media departments responsible for financial related issues, and regularly release the latest Information. At the same time, you also need to promote your own consignment products on various platforms and maintain them. For the platform, these contents have been prepared before, and only need to be uploaded and published within the response time. However, the time requirement is relatively high, and there are many tasks, and manual work needs to be released very early, and it is easy error.
effect value
Automation of information publishing: RPA robots automatically obtain copywriting emails from designated mailboxes in the early morning, fill in corresponding reports in different systems according to the content of the emails, and finally publish them on different platforms.
Increased employee happiness index: It used to be tedious to handle this task manually every day, but now it is handed over to the robot on standby 7*24 hours for release, and the employee's sense of happiness is overwhelming.
(7) Verification of smart financial statements
business background
In the era of commercial digital management, financial analysis is an important means to evaluate the operating conditions of enterprises. In the financial industry, financial reports are about 200 pages long and boring, and the quality and accuracy of the documents need to be strictly reviewed and controlled. If there are multiple rounds of manual review of document formatting, numbering, text, etc., the workload is very heavy and takes 2-3 hours.
effect value
Save time and cost: Traditional financial statement verification requires a lot of time and cost.
Improve information transparency: Improve the transparency and reliability of financial information, making it easier for investors and stakeholders to understand the company's financial situation.
(8) Intelligent inspection of bank processes
business background
The bank flow intelligent inspection system is a flow flow multi-scenario design and analysis technology platform independently developed and constructed by Daguan. It mainly serves professional related groups such as enterprise investment environment analysis, auditor monitoring, and risk control.
effect value
Determine the authenticity of the flow: by identifying the inflow and outflow amount and transaction quantity of the transaction, mining related parties and suspected related parties of the transaction and cross transactions of accounts with the same name, and opening the pipeline of different accounts to analyze their financial management loan ratio and income and expenditure composition and other operating conditions.
Expenditure batch and retail modification: Through the visual interface, it supports mouse movement of tables, modification of table rows, one-click deletion of new rows and columns, and correct identification of table errors. The text box tool supports one-click batch selection and batch modification analysis.
(9) Inspection of value-added tax invoices
business background
Invoice authenticity inspection is very important to enterprises. It is not only related to the enterprise's early warning and control of invoice risks, but also affects the career development of financial personnel. It seems that there are fewer and fewer fake invoices, but in fact they are non-compliant, risky, and repetitive. Invoices have been banned repeatedly, and these risks have to be guarded against in terms of finance.
effect value
Facilitate invoice inspection: RPA automatically handles the inspection process by simulating manual operation, and feeds back the inspection results to Edian Office system and presents them in the user system. The RPA robot can realize 7*24*365 seamless work. The robot completes the download and verification of invoices, executes the pre-set verification rules, and completes the corresponding information registration.
Save time and cost: the correct rate is close to 100%, saving more time for employees to do more valuable and creative work.
(10) Unified reporting platform
business background
Business personnel need to spend a lot of time and energy to retrieve data across systems, calculate reports, etc., manually query the data of each system, and summarize reports are cumbersome and boring, and are prone to human risk.
effect value
Query efficiency improvement: The report information comes from more than a dozen business systems, involving a huge amount. Manual operations require 5 man-days/month, and the efficiency is increased by 10 times.
Overall experience optimization: the tedious and boring experience of manually querying the data of each system and summarizing reports is no longer necessary. From now on, digital employees will automatically push report data at regular intervals, and display them in 5 forms, including text, numbers, and charts, which are clear at a glance.
(11) Specific client-designated transactions
business background
In order to actively serve the front desk business, for customers who newly opened a Shanghai securities account on T day and did not clearly handle the designated transaction, they will perform a series of designated transaction declaration operations before 9:00 AM on T+1 day, which can effectively avoid being pre-designated by other securities firms resulting in the loss of new customers. Three employees are required to take turns to arrange shifts every day, and the manual operation takes nearly an hour.
effect value
Efficiency improvement: After being automatically executed by an RPA robot, the execution process is shortened to only 15 minutes, and the efficiency is increased by about 75%. In the past two months, the company has successfully grabbed thousands of designated customers for the company.
Improve employee happiness: save a lot of time and energy of employees, so that business personnel can handle more valuable work.
(12) Accept verification documents
business background
The personnel operation center of the liquidation team must always pay attention to the integrity of the data files, requiring employees to pay attention to the scan script in real time, and only after obtaining the integrity of all data can the next liquidation step be performed. It takes a lot of time due to the inconsistent arrival time of the data and requires a lot of manual work to scan the scripts one by one.
effect value
Automatic completion of verification: After the implementation of RPA, the RPA robot will automatically scan the file, automatically obtain and receive the data within the specified time. Once the data is complete, an associated voice announcement prompts the employee to proceed to the next step.
Efficiency improvement: It saves a lot of time and energy of employees and greatly improves work efficiency.
(13) Server restart
business background
The operation of huge daily data and the control of the system of securities companies are inseparable from servers. It takes a long time to manually restart the high-speed market of multiple servers.
effect value
Improve work efficiency: RPA can automatically restart the high-speed quotation of multiple servers, reduce the burden on employees and improve work efficiency.
Effective use of human resources: RPA replaces manual operations by employees to extend business lines and perform higher-value tasks.
(14) Asset Management Product Equity Report
business background
Equity reports can help investors understand the investment status, risk-return characteristics, and position structure of asset management products, and help investors make investment decisions and risk control. However, there is a problem of information asymmetry in equity reporting.
effect value
Accurate data verification: The robot operates automatically based on predetermined settings, and the data verification is highly accurate, safe and stable, and avoids data verification errors caused by human operation errors.
Easy capture of massive data: When faced with a large amount of e-commerce data, manual operation is inefficient and prone to data download omissions, while robots automatically capture and download quickly and without omissions.
(15) Smart Document Comparison
business background
Securities is a document-intensive industry. There are a lot of document writing, review, proofreading, etc., which are rich in content and large in length. Manual entry, review, and approval of key contract information. The information entry of a contract takes 1-2 hours, and there is no guarantee that there will be human errors in the process of information entry. Human errors are inevitable, and the efficiency of information entry is low.
effect value
Avoid manual misoperation and avoid data entry risks: RPA can automatically enter relevant data, effectively reducing the misoperation rate to zero, and greatly reducing the business risk caused by data misentry that affects customer satisfaction.
Employees focus on business transfer, and human resources are effectively utilized: RPA replaces manual operations of employees, and employees are freed from repetitive and boring click operations to extend business lines and perform higher-value tasks.
(16) Supplementary data analysis
business background
In the process of data analysis and supplementary recording, data quality problems may occur. For example, problems such as missing data and data errors will lead to inaccurate and incomplete data analysis and supplementary recording, which will affect investors' decision-making. At the same time, securities companies need to have certain data analysis capabilities in order to analyze and supplement a large amount of data. If the securities company lacks the ability in this area, the quality of data analysis and supplementary recording will also be affected.
effect value
Accelerated data analysis: RPA can automate the data analysis process and quickly convert large amounts of data into a highly readable format, thereby speeding up data analysis.
Reduce the risk of error: RPA can reduce the risk of human error, and reduce manual errors and errors caused by copying and pasting by automating the data analysis and supplementary recording process.
(17) Business liquidation
business background
As a key link in the securities operation business, its operation steps are cumbersome, involving a wide range of business systems, and high operational risks, which have become a pain in the hearts of the majority of securities companies. Daytime transactions need to be processed in real time, but day-end liquidation needs to be processed uniformly at night. The huge workload, accuracy requirements, and time constraints put enormous pressure on liquidation personnel.
effect value
Efficiency improvement: RPA robots can realize multiple fully automated valuations, OTC one-key clearing, IPO prepayment and other operations, flexible settlement power, improve settlement operation efficiency, effectively reduce risks, and improve settlement management level
Reduce the burden on employees: use RPA robots to replace manual work in multiple links, improve efficiency and reduce burdens for employees, and free their hands.
(18) Clearing data processing
business background
After the asset custody completes the liquidation work every day, it needs to manually export the relevant data, and then send it through the relevant procedures. The entire process operation is highly repetitive, and some data is sent with high timeliness. Personal problems may cause the data to be sent untimely.
effect value
Automatic liquidation completion: The RPA robot detects whether the liquidation is completed, automatically exports the data to the corresponding folder after completion, completes the compression of part of the data, and automatically calculates the program, completes the split of part of the data and sends an email.
Improve efficiency: RPA replaces manual tasks such as liquidation status detection, data export, and automatic sending after data splitting. The efficiency is expected to increase by 80%, effectively reducing the risk of manual operations.
(19) Valuation treatment
business background
The valuation business needs to be highly integrated with data inspection and valuation liquidation. Currently, data inspection and valuation liquidation are separated. The valuation post will prompt you according to whether the documents in the data post are complete or not, perform manual liquidation actions, select the corresponding product, and click Valuation System data reading, transfer and other buttons, there are many products but their operations are highly repetitive.
effect value
Valuation accounting automation: RPA robot integrates data post data monitoring logic to judge whether the data files of each product are complete, and perform next operations on products with complete data (liquidation, transfer, generation of valuation tables, etc.), and RPA can record at the same time Each step of the simulated operation records, summary reports for users to query and judge. The continuous processing of data and valuation is realized, and the valuation and accounting are automated based on data.
Solve repetitive liquidation tasks: RPA replaces manual tasks to complete most of the simple and repetitive liquidation tasks. It is estimated that the daily workload will be reduced by 0.5-2 hours, the efficiency can be increased by 90%, and the risk of manual operation can be effectively reduced.
(20) Evening liquidation
business background
The liquidation team of the operation center works night shift every day. It needs to perform manual liquidation operations on the system. It needs to click the mouse repeatedly to carry out the liquidation operations. correct. The evening shift liquidation business covers 80% of the workload of the liquidation business, in which manual operations are frequent and repeated daily, as well as switching between various business systems, which severely limits employees' subjective initiative.
effect value
Improving business efficiency: After the introduction of RPA, a large number of highly repetitive labor tasks are automatically completed, and RPA judges the correctness based on system prompts to complete the system's liquidation operations, ensuring both liquidation efficiency and operational accuracy.
Reduce the burden on employees: free employees from these tedious manual operations to perform higher value transactions.