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ICBC Education & Training Cloud Supports Intelligent Supervision of Training Funds

To implement the national policy of promoting standardized development of the education & training market, ICBC, by leveraging its advantage in technology and strengthening innovative cooperation with education departments, launched the first digital education & training fund supervision platform in the industry – Education & Training Cloud. As at the end of June, the platform had established cooperation with more than 600 education departments in 31 provinces across China and served nearly 9,000 education & training institutions, assisting the government with information technology in realizing intelligent supervision of off-campus training funds.

According to introduction, ICBC’s Education & Training Cloud, based on blockchain technology and the services of the Financial Ecosystem Cloud, and by creatively connecting to government (education departments), business (education & training institutions) and individuals (students or parents), established a transparent, information-synchronized and convenient supervision service system to boost standardized development of the education & training market. The supervision end provides the education departments with a full statistical view of the qualifications, course arrangements, receipt & payment of funds, etc., of education & training institutions, ensuring that funds are transferred from the supervisory account to the institutional account according to the progress of the contract, and helping consumers avoid capital losses. The service end helps education & training institutions realize online course management & release, online fund collection and financial reconciliation, online preferential management for members and online financing, as well as other services, to help education & training institutions improve their informatization level and obtain inclusive financial support. The personal end of student-parents provides services such as class registration, payment and refund of fees, dispute resolution and after-school evaluation to protect parents’ and students’ legal rights and interests.

Besides, based on the actual needs of families with kids in the stage of compulsory education, ICBC, on the basis of Education & Training Cloud, has developed the “Study at Ease” service targeting at after-school care for students, to provide support and assistance for education departments in implementing the requirements of reducing the homework load and off-campus training burdens of students, strengthening oversight and management of after-class education, and improving the level of services for the people’s livelihood. So far, “Study at Ease” has been made available in Anhui, Henan, Guangxi, etc..