BEIJING, Nov. 8 (Xinhua) -- The Industrial and Commercial Bank of China (ICBC), China's biggest commercial lender, launched its smart banking ecosystem (ECOS) Friday, to further enhance its services with the help of fintech.
ICBC has built an open and integrated cross-border "ecology" through ECOS, which helps embed financial products such as payment, financing, financial management and investment into daily consumption and production scenarios, such as education, health care and travel, according to ICBC.
ECOS has improved its ability to support the explosive growth of Internet business, and can better cope with busy online payment seasons like the Spring Festival and the Double 11, a shopping festival which falls on Nov. 11.
The smart banking ECOS project started in 2017.
This year, ICBC has accelerated the development of financial science and technology innovation, including establishing a science and technology subsidiary and building its financial science and technology research institute.
