The 5th CD80 Enables High-Quality Development of Financial Industry-成都80金融科技产品设计大赛官网

The 5th CD80 Enables High-Quality Development of Financial Industry

2022-11-12

On November 12, 2022, the final round of the 5th FINTECH 80 CHENGDU HACKTHON(CHENGDU80 for short), which was organized by Southwestern University of Finance and Economics(SWUFE) and Chengdu Jiaozi Financial Holding Group, was held at the Liulin Campus of SWUFE. After 80 hours of fierce battle, the research and development results of eight top university teams were presented on stage, and finally the Tsinghua University team won the Trailblazer Award, which brought the competition to a successful conclusion.


The CHENGDU80 was officially launched on November 5, and the development session ended on November 9, with the final round of the competition featuring teams from 8 of the world's top universities. In the five years since the competition was founded, a total of more than 10 top universities at home and abroad have organized teams to participate in the competition, which has given birth to more than 40 advanced financial science and technology products, with more than 200 students participating in the competition, deepening the cooperation between the industry, academia and research and transforming the results, and further empowering the high-quality development of the financial industry.


Emphasizing Cutting-Edge Advancements & Establishing a Premier Industry Exchange Platform

Nurturing Innovation & Pioneering Frontier Developments, this competition underscores the construction of a robust financial technology ecosystem and fosters "new finance and economics" expertise, further empowering the industry's innovative development.


Amidst the global pandemic, the 2022 edition adapted to a hybrid "online + offline" format, with key institutions such as University of Electronic Science and Technology (UESTC), Southern University of Science and Technology (SUST), and Southwestern University of Finance and Economics (SWUFE) engaging physically, while Tsinghua University(THU), University of Hong Kong (HKU),the Federal Institute of Technology Zurich (ETH Zurich), Lyon School of Business(Lyon), and Queen's University participated online.


Addressing the challenges faced by financial institutions, credit assessment agencies, and enterprises in automating credit risk assessments, participating teams devised the "Automated Credit Risk Control Modeling System." Throughout the competition, teams demonstrated exceptional enthusiasm, clear task allocation, and time-bound competition spirit, embodying the excellence of the university students in the New Era.


In the culminating exhibition, each team presented their project, outlining product design concepts and advantages. Judges acknowledged their developmental prowess, mathematical modeling skills, innovation, creativity, and teamwork. Following rigorous evaluation,THU secured the Pioneer Award, while SWUFE and SUST jointly won the Leader Award. The Innovator Award was awarded to UESTC, HKU, ETH Zurich, and Queen's University.

(Remarks by Professor Jingmei Zhao, Executive Vice Dean, School of Finance, SWUFE & Director, FIC)


In her closing remarks, Professor Zhao, Executive Vice Dean of the School of Finance and Director of FIC, emphasized, "Finance stands at the heart of modern economies, with science and technology as vital forces propelling societal advancement, and innovation as the primitive driving force. Southwestern University of Finance and Economics (SWUFE) prioritizes technological innovation as the 'primary driving force' and talent as the 'foremost resource', integrating seamlessly with the 'inevitable path' of opening up to reshape international exchange and cooperation within the global higher education landscape." She further stated, "Through hosting this high-level financial technology competition, we aspire to nurture a cohort of young, innovative talents imbued with a patriotic spirit and global perspective, embodying the ideals, responsibilities, resilience, and dedication of the New Era."

(Speech by Zou Jin, Deputy General Manager of Chengdu Jiaozi Financial Holding Group)


Zou Jin, Deputy General Manager of Chengdu Jiaozi Financial Holding Group, as a co-organizer, remarked, "CHENGDU 80 has flourished for five consecutive years, establishing itself as a prestigious event in financial technology, an annual gathering for global talents, and a vibrant showcase of Chengdu's financial prowess. Leveraging our world-leading fintech innovation hub, Jiaozi Financial Dream Factory, and a thriving fintech sector, this 80-hour 'marathon' has harnessed the ingenuity and perseverance of young participants, yielding creative concepts, practical solutions, and cutting-edge fintech projects. Programs and products that face the frontiers of financial technology and serve the scenarios of a better life have been born increasingly. We encourage every aspirant to pen their youthful anthems and success stories through sweat and dedication."


A participant from the SWUFE team shared, "CHENGDU 80 offers an exceptional platform for learning and exhibition.  With a diverse team composition spanning graduate and undergraduate students, MBA candidates, and majors in computer science, data science, among others, this top international competition has enabled us to apply our knowledge, strengthen teamwork, enhance our competencies, connect with like-minded peers, and foster an international and forward-thinking mindset."


CHENGDU 80 underscores the profound impact of financial technology on traditional finance, reflecting SWUFE's leadership in fostering 'production, learning, and research' integration and driving industry innovation. It also showcases the university's foresight and commitment to leading the 'industry-university-research' collaboration in fintech, inspiring domestic and international universities to engage in innovative exchanges, fostering mutual progress, and accelerating the integration of financial technology.


Introducing an Innovative Nurturing Mechanism for Cultivating Financial Talents with an International Perspective

Recognizing that the future competition is one of talents, CHENGDU 80, since its inception in 2018, has emerged as a pivotal platform for nurturing fintech talents, constantly fostering dynamic 'industry, academia, and research' collaborations.


Over the past five years, the competition has attracted top universities worldwide, including “world-class universities” Tsinghua University, “China's political barometer” Peking University, the University of California, Berkeley, the “Public Ivy”, the National University of Singapore, the “No. 1 University in Asia”, and ETH Zurich, the “No. 1 University in Europe”, “China's financial talent pool” Southwestern University of Finance and Economics, as well as the University of Toronto, Shanghai Jiao Tong University, the University of Hong Kong, Queen's University of Canada, Georgia Institute of Technology, the Southern University of Science and Technology, the University of Zurich, Switzerland, Tel Aviv University, the University of Electronic Science and Technology, Chongqing University, among others, providing students with hands-on experience in fintech applications and development.


Continuously evolving, CHENGDU 80 has refined its content, format, standards, and effectiveness. In the first edition of the competition, FIC was signed and established, and CHENGDU 80 started to connect with the world; in the second edition of CHENGDU 80, the brainstorming of the competition created a “hackathon”, where outstanding young people from all over the world met to learn about the application and development of financial technology; the third CHENGDU 80 gathered global wisdom and the first “Fintech Enterprise Exhibition” was opened; the fourth CHENGDU 80 was held in Chengdu, China, during this period, FINTECH80x program was launched, and the ecosystem construction took shape; the fifth explored a new mode of talent cultivation and empowered innovation in the financial industry. As the organizer, SWUFE has showcased the latest fintech advancements, products, and prospects in a multifaceted manner.


CHENGDU 80 focuses on niche sectors, emerging industry trajectories, and the cutting edge of financial technology advancements. The themes for each competition are collaboratively crafted by academia and industry partners, embodying forward-thinking perspectives that encompass personal credit valuation, a discovery platform for financial scholars' research, explainable investment methodologies, enterprise risk evaluation, and this year, automated credit risk assessment. Our mission is to address practical challenges in fintech and corporate realms, offering fresh strategies and avenues for real economy growth.


The judging panel in previous years similarly comprised esteemed experts and scholars from both academia and industry, offering insights rooted in their respective areas of expertise. Their contributions enriched the competition with diverse viewpoints on innovation and application, enriching the standards for fintech talent cultivation with additional dimensions for consideration.


We must neither rush upon fantasy nor be guided by the sound of falsehood. The evolution of CHENGDU 80 is marked by tangible milestones, from its highly acclaimed roadshows to the exceptional online showcase on our technology platform amidst pandemic restrictions. Each practical and relentless step is crucial to CHENGDU 80's success. Committed to 'Showcasing Global Youth Wisdom and Empowering Financial Industry Innovation,' CHENGDU 80 authentically reflects its founding principle. Its value and future trajectory lie in fostering deeper integration and sustainable development of finance and technology, thereby better addressing the novel demands and tasks of the digital economy era.