The Bank of China Macao Branch and the Faculty of Business of City University of Macau conducted a seminar on “Smart City and Smart Banking” at HG03, Ho Yin Convention Centre of City U, on 23rd November. Mr. Yang Yuehao, the Group Supervisor of the Bank of China Macao Branch, was the invited guest speaker. Academic staff members, students and the public were invited to attend this seminar. Ms. Chen Fen, the Director of the Banking Business Management Department, and Prof. Eva Khong, Executive Associate Dean of the Faculty of Business, were invited to attend the seminar. On behalf of City U, Dr. Khong presented a souvenir to Mr. Yang Yuehao.

Mr. Yang Yuehao started by using the concept of Smart City to highlight the theme of the topic - Smart Banking. He explained that the so-called Smart City was the trend in urban development whereby the city replaced manpower with artificial intelligence on a large scale. The combination of this trend and the new normal economic state caused by the optimization of economic structure would cause great changes in our lifestyle. But these changes meant new opportunities as well as the subsequent competition. Traditional banking was forced to make changes in the face of fierce horizontal and vertical competition, in order to take up the preemptive opportunities, which has resulted in the advent of Smart Banking – a business model that makes use of advanced scientific and technology and bank management experience, efficient allocation, and keen insight into service needs to achieve a flexible and rapid response. Mr. Yang described how Smart Banking could provide humanistic service by introducing the four aspects of Smart Banking: Customer Interface, IT Infrastructure, Smart Decision making and the External Environment. He made special reference to the big data-based analytical and mining system of customer value and customer needs, a tool with which banks could extend the tentacles of retail banking and so enhance the customer experience and maximize profits. Mr. Yang ended the seminar with a popular saying: “The future has come, but it is just not evenly distributed”. 

The mutual interchanges following the speeches were a highlight of the seminar. Students took the initiative in raising questions, which impelled both Chen Fen, the Director of the Banking Business Management Department, and Faculty of Business professors to join the session and answer questions from the students. Some students praised the Seminar as remarkable and they had learnt a lot from Mr. Yang.

The seminars of “The Bank of China Forum” will be continued. Students and members of the public are all welcome to attend the forthcoming events in this series. Details will be posted on www.cityu.edu.mo.