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MIT Technology Review Ranks Mashang Consumer Finance in Top 10 for Patent Innovation

By Bridging News
Business 2024-07-20
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Chongqing—The MIT Technology Review recently ranked Mashang Consumer Finance Co., Ltd. (MSCF) from Chongqing Liangjiang New Area among the top 10 for patent innovation in large models among global financial institutions. MSCF shares this honor with notable companies such as Ant Group and Capital One.

Since its inception, MSCF has shown a strong commitment to innovation, applying for over 1,900 patents. In 2023, MSCF secured 553 new patents, placing fourth on the 2024 China Fintech 100 Competitive Enterprises List. The company employs over 2,500 technicians, representing 70% of its workforce. 

Over the past nine years, MSCF has successfully integrated technology with financial services, providing personalized and intelligent financial solutions to nearly 200 million users.

Notably, MSCF takes the lead in editing the Standard for Technical Requirements for Large Models for Finance, the first IEEE international technical standard in the financial large models sector led by China.

In July, at the 2024 Mingyue Lake·π Global Innovation Conference, MSCF introduced its PowerAgent platform, a comprehensive large-model application development tool. 

MSCF unveiled its large model application platform PowerAgent at the 2024 Mingyue Lake·π Global Innovation Conference recently. (Photo/Liangjiang New Area)

As a technology-focused digital financial institution, MSCF leverages its 100PB of foundational financial data, self-built intelligent computing center, online business model, and innovative experience models to drive technological progress.

PowerAgent is a comprehensive model development, training, deployment, management, and application production platform. It offers four core benefits: low thresholds and dependencies, cost-efficiency, high security across scenarios, and industry-specific customization.

This platform enables rapid and effective adoption of large models, enhancing business performance. Its AI middleware and tools reduce delivery time from 90 to 50 days, increase GPU utilization by 20%, lower memory needs by over 30%, and boost intelligent agent performance by 4.5 times, thus lowering hardware costs and improving algorithm and product efficiency.

MSCF's growth mirrors the broader rise of high-tech enterprises in Liangjiang New Area. This national-level area, driven by "Sci-tech Innovation + Industry," has spurred innovation and encouraged enterprises to boost their R&D efforts.

Currently, Liangjiang New Area houses 930 high-tech enterprises, the largest number in Chongqing. By 2025, this number is expected to reach 1,350, with technology-based enterprises projected to grow to 7,000.
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