SDIC Venture Capital recently, has exclusively completed a new round of strategic investment in Zhejiang Bangsun Technology Co., Ltd. The company operates a leading big data underlying technology platform and is an industry leader in real-time financial risk control and anti-fraud application. Its independent R&D real-time big data processing platform, "Stream Cube", has powerful processing capability and can better meet business needs in the industries with high demand for traffic, concurrency, and timeliness. Based on this, Bangsun Technology's real-time data processing capabilities will also be expanded into non-financial fields such as aerospace, energy and power, rail transportation, military industry & anti-terrorism.
Bangsun Technology gains market and capital favor
In recent years, global financial technology has developed rapidly. The concept of domestic financial risk control has been transformed from after-the-event risk control to real-time risk control. The financial real-time risk control companies represented by Bangsun Technology have received much capital attention. The strategic investment made by SDIC Venture Capital in the business of Bangsun Technology indicates that the company has achieved a remarkable market share in a short period of one year.
Bangsun Technology is the earliest high-tech enterprise focused on real-time financial control in China. It has been highly recognized by the market for its mastery of many core technologies and locally deployed financial risk control solutions. Its business growth has reached 200% in the past three years. In 2017, Bangsun Technology reached cooperation with 8 joint-stock banks, serving more than 200 large and medium-sized financial institutions.
At the same time as the rapid expansion of business, Bangsun Technology is highly concerned by the capital institutes. From June 2015 to May 2017, the company has completed three rounds of financing, totaling 317 million yuan. This round of SDICVC's Venture Capital investment in Bangsun Technology is only 7 months since the last financing round is completed.
SDIC Venture Capital is an independent market-oriented fund management company affiliated to the SDIC Group. It aims to serve the country's innovation-driven development strategy, focuses on the transformation of scientific and technological achievements, and explores forward-looking strategic industrial investment. At present, the company's venture capital management funds focus on the transformation of national major scientific and technological achievements, the transformation of scientific and technological achievements in the Beijing-Tianjin-Hebei region, and strategic emerging industries. As a “National Team of Funds”, the company's venture capital investment has laid out a number of influential landmark projects, and its investment projects and key investment areas have received high attention from the market and the industry.
Conquering the global problems of big data real-time processing
In the field of real-time financial risk control, real-time processing of big data is a worldwide problem. According to Dr. Wang Xinyu, CEO of Bangsun Technology, since its establishment in 2010, the company has been focusing on the field of real-time financial risk management and trying to make the breakthrough in the underlying core technology.
After the establishment of Bangsun Technology, the technical team devoted four years with tremendous investment of hundreds of millions of yuan, and independently developed the "Stream Cube", the real-time processing technology for streaming big data. The real-time processing capacity reaches millions of transactions per second, with an average latency of 1 millisecond, which breaks the bottleneck of data processing technology faced by financial risk control field and solves worldwide problems. At the same time, it also directly promotes the methods and concepts of China's financial risk control from after-the event and quasi-real-time control to the real-time risk control. For this reason, "Stream Cube" technology won the First Prize of Scientific and Technological Progress of Ministry of Education of China in 2016.
Based on "Stream Cube", Bangsun Technology developed a locally deployed "Central Financial Real-Time Risk Control System for Full Services" which fundamentally solved the previously unsolvable problems and realized real-time risk control and anti-fraud, effectively helped financial institutions resist any fraud risk. At present, Bangsun Technology's services cover banking, payment, internet finance, security insurance, e-commerce & travelling platform, government platform and ticketing, etc.
The Application of "Stream Cube" Technology Continuously Empowers Non-financial Sectors
Relevant person in charge of SDICVC stated that the real-time streaming data processing technology of big data is a emerging research hotspot after batch processing technology, and the world has not yet formed an authoritative industry standard. Bangsun Technology's "Stream Cube" technology platform can achieve the same amount of concurrent processing under the condition that it uses equivalent to 1/100 of the Open Stack computing capacity. In the industry practice, Bangsun Technology has achieved an overwhelming victory in the competition with other foreign service providers, indicating that China's stream processing technology has taken the lead in the world. Bangsun Technology's “Stream Cube” technology has broad potential in application and can promote the upgrading in multiple sectors, and is expected to become a vane for the development of the industry's technology. This investment is in line with the investment strategy and direction of accelerating the transformation of scientific and technological achievements.
Dr. Wang Xinyu introduced that in addition to the core technology of “Stream Cube”, Bangsun Technology has deployed artificial intelligence three years ago. Currently, the machine learning technology in the AI direction has been highlighted in financial anti-fraud, internet credit, accurate marketing, and personalized recommendations. It has been used in many large and medium-sized financial institutions such as Ping An Bank, Bohai Bank, Everbright Bank, and Zhejiang Commercial Bank, and achieved significant results. After the financing, Bangsun Technology will continue to focus on the field of real-time financial risk control, further enhance the product and solution performance, strengthen the interactive network and after-sale system construction, and develop a new generation of real-time intelligent analysis and processing infrastructure. At the same time, Bangsun Technology will also promote the energization of “Stream Cube” in non-financial fields such as aerospace, military, anti-terrorism, and transportation.
In the future, based on the “Stream Cube” streaming big data processing platform combined with intelligent analysis and processing platform, will build a new generation of real-time intelligent analysis and decision-making system to better protect the national financial and industrial safety.