Recently, the product of the Postal Savings Bank of China (hereinafter referred to as PSBC) — the electronic letter of guarantee (L/G) system won the Industrial Digital Finance Contribution Award in the 10th “Golden Pine Awards” selection event held by mpaypass.com.cn.

PSBC’s electronic L/G system relies on big data and artificial intelligence technology to issue letters of guarantee, enabling online services for the entire process of credit granting, L/G issuance, contract signing, L/G text, and L/G verification. Internally, the electronic L/G system has connected PSBC’s mobile banking and online banking. Externally, it has formed a standardized interface, a unified access process and an agile development mechanism. With the advantages of data security and confidentiality, whole-process electronic tracking, anti-tampering and traceability of counterfeiting, it has achieved traffic driving through multiple channels. At present, the system has been connected with other guarantee companies as well as government and enterprise platforms. PSBC has issued nearly 10,000 electronic letters of guarantee since the system was launched, significantly improving its quality and efficiency of serving micro and small enterprises.

The “Golden Pine Awards” are national awards in the fintech industry, aiming to showcase fintech innovation and its application achievements in rural revitalization, data security, cross-border finance, anti-fraud technology and other industries.