The Union of Rural Credit Cooperatives of Inner Mongolia and Bamboocloud jointly won the 15th Financial Technology Application Innovation Award.
Recently, the "2024 Fintech Annual Conference and 15th Fintech Innovation Awards," hosted by the Financial Electronics magazine under the People's Bank of China, was held in Shenzhen. The event unveiled the winners of the 15th Fintech Innovation Awards, recognizing financial institutions and technology companies for their outstanding contributions to fintech innovation and business development. The "Unified Identity Authentication Service Platform" project, jointly developed by the Inner Mongolia Rural Credit Cooperatives Union and Bamboocloud, stood out among nearly a thousand entries and won the Fintech Application Innovation Award.
The "Fintech Innovation Award," hosted by Financial Electronics magazine under the People's Bank of China, brings together leaders and experts from banking, insurance, and securities institutions to conduct a comprehensive evaluation of submitted projects across multiple dimensions. With over a decade of history, the award has become a prestigious and authoritative platform for showcasing fintech achievements and highlighting innovation.
The Inner Mongolia Rural Credit Cooperative Union (referred to as the "Union") is the largest local financial institution in the region by asset scale, providing the strongest support for agriculture and small businesses with the most extensive service network. It has long played a crucial role in driving regional economic growth. To enhance digital financial governance and accelerate the transition toward digital, efficient, and secure financial services, the Union partnered with Bamboocloud to develop a Unified Identity Authentication Service Platform.
Centered on "digital identity," the platform is designed to enable "unified identity, centralized management, seamless access, and trusted security." It offers unified identity management, multi-level security authentication, AI-driven risk control, and dynamic compliance auditing, ensuring seamless system interoperability and enabling “one login for full access” across the Union. The platform supports configurable multi-factor authentication for different scenarios, providing secure access management for various applications and security levels. Additionally, it introduces secondary authentication methods, including fingerprint login, QR code authentication, and teller card login, significantly enhancing the Union's risk detection and security protection capabilities.
The platform adopts an innovative microservices architecture, reducing program coupling while simplifying application development, maintenance, and deployment. With strong scalability and compatibility, it supports seamless upgrades as the Union expands and integrates new systems, enhancing system flexibility and efficiency while lowering the cost and complexity of digital transformation.
As a leading provider of next-generation IAM middleware and digital cloud services, Bamboocloud has successfully implemented identity security management platforms for major financial institutions, including the People's Bank of China Clearing Center, the Agricultural Development Bank of China, the China Development Bank, Huaxia Bank, and Beijing Bank, driving fintech innovation with efficiency and security. Moving forward, Bamboocloud will continue leveraging its product and service expertise to facilitate financial institutions' process optimization and business transformation, contributing to the secure and sustainable advancement of financial technology.
