Dec 10, Beijing，winners of "ICBC Cup" Nationwide University Students Banking Products Design Contest were celebrated in an award ceremony hosted by the organizers, ICBC and University of International Business and Economics (UIBE). Those in attendance were over 100 coming from the winners and representatives of universities participating in the contest across the country. By then, the 7-month "ICBC Cup" Nationwide University Students Banking Products Design Contest was drawn to a successful close.
As related, the Contest, under the theme "Youth and Creativity", encouraged university students in China to come out with design proposals on new banking products to cope with customer needs, market changes and business progress of Chinese banks, currently and in the future. The Contest attracted scores of university students to participate since its kick-off in May this year. The organizing committee received a total of 402 design proposals from 2000+ contestants coming from 111 universities nationwide. The panel judges finally decided to present Meritorious Awards to 2 proposals: "Happy Family" and E-Lightning Card. "Happy Family" is a wealth management product designed for a family to invest in different stages of life cycles. E-Lightning Card is an innovative product encompassing different financial and industry applications with functions on emerging payment and electronic banking security. Proxime Accessit Awards to 4 proposals, including the Loan for university students to start business with cumulative credit based on the students' performance in college, the joint loan to the elderly for retirement through housing mortgage and housing reverse mortgage. Besides, Third Class Awards were presented to 10 proposals, Excellence Awards to 20 proposals, and Outstanding Organization Awards to 10 Universities, including UIBE, Inner Mongolia University, Jiangxi University of Finance and Economics, China University of Mining and Technology, Peking University. (See the list of winners at the official website: http://innovation.uibe.edu.cn)
The panel of judges said, the Contest opened a new model in the innovation of banking products. New concept, new philosophy by gathering the social force and wisdom of everybody will help drive the innovation and improvement of service standard of Chinese banking sector. The winning proposals contribute a certain value in financial academic study and banking product and service practices. The proposals crystallized the innovative ideas and capability of the contestants and a reflection of the concern from the nowadays university students on the hot issues such as national economy development, society and people's livelihood, demonstrating their sense of mission and responsibility to use what have been learnt to serve the society, the public.
At the award ceremony, Liu Dongjin, a contestant from the UIBE said, the Contest was a platform for the university students to combine theory and practices to design new products, to contribute own value to the society. Starting from studying market needs, design on new banking products was a combination of theory and practices. Through the process, we gained more practical experience, got a better understanding on the financial knowledge learnt in the university and realized own potential.
An official with the UIBE said, the Contest served as a bridge and link to gather the universities, students and banks under one roof. It marked the high importance attached by and deep consensus between banks and universities in innovative personnel training and cooperation on innovative areas. It played a significant role in shaping up the university students to innovate and research new products, training them as competent persons. The Contest will definitely push further the universities to engage wide, long-term, mutual beneficial cooperation with the society, to implement the financial innovation of the university students in the society, and to improve the innovation on financial products continuously.
An ICBC executive said, the organizing of the Nationwide University Students Banking Products Design Contest with UIBE was another fruitful attempt of ICBC to move forward in the innovation. ICBC will take the Contest as an opportunity to push ahead the industry-academic-research partnership and join force with the society in innovation. The bank will also address the customer needs and changes by embracing innovation and optimization in financial products. ICBC is committed to the company mission to deliver excellent financial services for customers to use the best financial products.