Bestpay: Technology Empowerment and Innovation Reform
Product Number：
EN_2020XXXTYDZSW_4525
Page Views：
796
CaseName：
Bestpay: Technology Empowerment and Innovation Reform
Authors：
Shi Mingming, Zeng Maoxia, Liu Shan
Author Affiliation：
Renmin University of China
Enterprise/Organization：
Bestpay Co. Ltd
Industry：
Services
Discipline：
Information Technology & E-commerce
Scale：
Large
Language：
English
Type of Case：
Descriptive Case
KeyWords：
-
Abstract：
Bestpay (also known as Orange Finance) is the Internet financial platform of China Telecom. In 2018, Bestpay was selected into the "Double Hundred Enterprises" of SASAC. Taking the mixed ownership reform as an opportunity, the company coordinated resources and business with strategic investors, vigorously developed financial technology and empowered business development with technology. The company upgraded to smart finance through emerging technologies, and supported the development of financial services through technological innovations such as intelligent risk control innovation, media innovation, big data technology innovation, and independent R&D innovation. The company has actively explored model innovation, such as relying on the advantage of China Telecom to explore the operator-style differentiated business model of “industry + finance + technology”; taking innovative technology as the cornerstone to build the "Four Platforms" to empower the group’s ecosystem; and taking data technology as the driving force to build a “payment + finance” technology ecosystem of cluster symbiosis and linkage development. In addition, under the guidance of the "3 + 3" policy system at the company and staff level, through the implementation of a series of reforms such as equity diversification and mixed ownership reform, improvement of corporate governance structure, market-oriented operating and incentive mechanism and restraint mechanism, Orange Finance is transforming into a more market-oriented direction in terms of institutional mechanisms.
Intended Audience：
硕士、MBA、EMBA、EE
Data Source：
Primary
Publication Date：
2020
Revision Date：
2020
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