MYbank Launches AI-Enabled System for SME Money Management at Shanghai’s INCLUSION Conference
MYbank, a leading digital bank in China and an associate of Ant Group, today introduced its AI-enabled system (Cuckoo System) for small and micro-sized enterprise (SME) money management at the 2024 INCLUSION·Conference on the Bund.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240905984463/en/
MYbank President Feng Liang introduces the AI-enabled system (Cuckoo System) for SME money management at the 2024 INCLUSION·Conference on the Bund. (Photo: Business Wire)
The system forecasts the cash flow of SMEs across various industries, assisting bank-affiliated investment management companies in more effectively anticipating the timing of SMEs' subscriptions and redemptions of investment products and helping SMEs generate reasonable returns from their idle cash. By aligning financial offerings with the operational cycles of SMEs, the system helps maximize efficiency in their financial management.
Feng Liang, MYbank President, highlighted the liquidity management challenges faced by SMEs: While SMEs may not prioritize high returns, they require investment products that offer a high level of capital security, align with their variable cash flow cycles, and provide stable returns.
“As of the end of 2023, MYbank has served over 53 million SMEs cumulatively. MYbank aims to leverage its deep understanding of SMEs' needs and cash flow, along with AI technology and the convenience of digital banking, to create an advanced money management experience for SMEs and support the growth of the real economy,” said Liang.
Powered by Ant Group's BaiLing foundation model, the system utilizes a time-series encoder to create highly accurate cash flow prediction models for SMEs across various sectors, including e-commerce, retail, and agriculture, achieving an accuracy rate of over 95%. Building on these cash flow predictions, the system also models the likelihood of future investment product purchases and redemptions. These timely insights enable bank-affiliated investment management companies to optimize fund utilization and improve asset allocation efficiency by 10%, thereby enhancing overall product returns.
As of September 2024, MYbank has established partnerships with 23 bank-affiliated investment management companies, five of which have closely adopted the system to optimize seven SME-focused investment management products.
According to McKinsey, the bank-affiliated investment management market is projected to reach 50 trillion yuan by 2030, with the user base expected to grow to 200 million. SMEs are highlighted as one of the most promising customer segments, with their market contribution potentially doubling over the next five years, as noted in McKinsey’s report, “Bank-affiliated Investment Management Market Trends and Opportunities for SMEs,” unveiled at the INCLUSION Conference.
About MYbank
Founded in 2015 with a focus on serving SMEs and farmers, MYbank was among the first group of pilot private commercial banks in China. It was also the first bank in China to deploy its core banking system entirely on the cloud without any physical branches.
MYbank pioneered the “310 model” for SME financing, which offers a collateral-free business loan that takes less than three minutes to apply on a mobile phone, less than one second to approve and requires zero human interaction.
In addition to advanced risk-management solutions, MYbank has harnessed technologies such as AI and remote sensing to streamline credit services for farmers. This approach eliminates the need for lengthy processes or paper documentation, making digital loans more accessible to them.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240905984463/en/
Contacts
Media Inquiries
Media Inquiries
MYbank: mediapress@service.mybank.cn
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Hanseo University Expands Aviation Training Program with New Frasca Flight Training Device10.12.2025 16:05:00 CET | Press release
The new device marks the latest milestone in a long-standing collaboration between Hanseo University and Frasca International, Inc. Frasca International, Inc., a FlightSafety International company and leader in flight simulation, today announced that Hanseo University in South Korea is expanding its aviation program with a new Level 5 Cessna 172 Flight Training Device (FTD), the seventh Frasca device to join the university’s fleet. Hanseo University’s school of Aeronautical Science recognized by the Korean University Accreditation Institute as the nation’s first Specialized University for Training Professional Workforce Industries, continues to expand its state-of-the-art simulation capabilities with the acquisition of a Level 5 Cessna 172 FTD. The addition builds on a partnership with Frasca that has spanned more than two decades and further advances aviation education across Asia. “We were seeking simulators that provided both realism and reliability, and Frasca stood out immediately
Bregal Milestone Announces Majority Growth Investment in Beyond Now10.12.2025 16:00:00 CET | Press release
Partnership to Drive Beyond Now’s AI-Led Innovation and Expansion Bregal Milestone, a leading European software growth private equity firm, today announced a majority growth investment in Beyond Now (the “Company”), a fast-growing, cloud-native supply chain software provider for AI-enabled digital commerce. Driven by strong customer demand, Beyond Now has generated profitable growth and >40% last twelve-month ARR growth. Beyond Now supports some of the world’s largest and most innovative Communication Service Providers (CSPs), including Verizon, AT&T, Deutsche Telekom, and NTT, in managing complex digital supply chains to create seamless end-to-end partner and customer operations. Founded in 2018, the Company serves telecommunication providers, technology companies, and private enterprises to efficiently scale and monetize digital services through its suite of modern, Ecosystem Orchestration and Digital Platforms - including an AI Digital Business Platform for orchestrating partner off
NetJets to Bring Starlink High-Speed Connectivity to Fleet10.12.2025 15:05:00 CET | Press release
The agreement between the two companies will bring reliable Wi-Fi connectivity to one of the world’s largest fleets of jets, ensuring a seamless, best-in-class experience for Owners NetJets, the global leader in private aviation, and Starlink have entered into an agreement to bring high-speed in-flight connectivity to 600 aircraft across NetJets’ global fleet by the end of 2026, unlocking a new level of productivity and exceptional travel experiences in the air. “This agreement with Starlink positions NetJets to continue delivering exceptional travel experiences for our Owners and their guests,” said Patrick Gallagher, President, NetJets Aviation. “With Starlink, travel is elevated with reliable connectivity whether our Owners are flying for business or leisure—as seamless connectivity is critical to the experience our Owners need and deserve.” This multi-year, service level agreement paves the way for NetJets to quickly and seamlessly outfit its aircraft across the U.S. and Europe, wi
Mercator Ocean International Makes AI Ocean Forecasting Operational with GLONET Validated by OceanBench at NeurIPS 202510.12.2025 15:00:00 CET | Press release
New benchmark sets the first science-based quality standard for AI ocean models, enabling GLONET’s operational deployment At NeurIPS 2025, one of the world’s leading AI conferences, Mercator Ocean unveiled OceanBench, the first open benchmark designed to assess AI Ocean forecasting models. This milestone follows the publication of Mercator Ocean’s AI model GLONET in September. Together, OceanBench and GLONET represent a decisive step toward integrating artificial intelligence into operational ocean forecasting, strengthening Europe’s leadership in trustworthy, AI-driven predictions at global scale. Presented by Anass El Aouni, Oceanographer and machine learning (ML) researcher, and Quentin Gaudel, ML Systems Architect, OceanBench establishes a unified standard to evaluate AI models against fundamental ocean dynamics. GLONET is the first forecasting system to be validated through OceanBench for operational use. Anass El Aouni : “OceanBench provides a transparent standard to evaluate AI-
Cleveland Clinic Neurological Institute and Baszucki Group Team Up to Advance Landmark Brain Study with Metabolic Health Markers10.12.2025 15:00:00 CET | Press release
The collaboration seeks to study gut-brain connections in neurological disorders Baszucki Group today announced an expanded commitment to the landmark Cleveland Clinic Brain Study. Launched in 2022, this ambitious longitudinal study plans to follow healthy individuals over a 20-year period with the goal of identifying early disease markers and therapeutic targets needed to prevent and ultimately cure neurological diseases. The commitment from Baszucki Group brings their total donation to the study to $450,000. The commitment was announced at Keep Memory Alive’s annual Summer Festival & Rodeo at Shakespeare Ranch in Glenbrook, Nevada, an event benefiting the Lou Ruvo Center for Brain Health and hosted by Larry and Camille Ruvo, co-founders of Keep Memory Alive. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251208681513/en/ Baszucki Group and Cleveland Clinic Neurological Institute expand impact of landmark brain study to inv
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom