WeBank Signs the UN Principles for Responsible Banking


WeBank officially signed the United Nations (UN) Principles for Responsible Banking (PRB) as the first digital bank in China to join 300 banks around the world under the PRB. WeBank has also become a member of the United Nations Environment Programme Finance Initiative (UNEP FI). This marks an important milestone for WeBank to actively implement its ESG strategy and support the country’s high-quality economic and social development through its financial strength.

The PRB is a unique framework for ensuring its member banks’ strategies and business practices align with the UN Sustainable Development Goals (SDGs) and the Paris Climate Agreement.

As the first digital bank in China, WeBank has been exploring technological innovations to support China’s key national strategies, including inclusive finance, green finance, and rural revitalization, and leveraging featured financial services to fulfill corporate social responsibilities.

Following the signing of the Principles, WeBank will integrate the concept of the UN SDGs to drive the growth of green finance and support the high-quality economic development of China.

Provide better banking for MSMEs

With the mission of “Better Banking for All”, WeBank has served over 340 million individuals by leveraging its fintech capabilities for the past nearly 8 years.

To alleviate the difficulties in accessing affordable financing for micro-, small and medium-sized enterprises (MSMEs), WeBank has launched an MSMEs-oriented service called “Weiyedai”. It utilizes three digitization methods of big data risk management, target marketing, and refined operations to improve the user experience, service efficiency, and credit scale of the financing business.

This unique “Weiyedai” service is well received amongst MSMEs customers. As of the end of June 2022, “Weiyedai” is available in 29 provinces and municipalities across the country. It has served nearly 2.8 million MSMEs and granted credit to over one million clients with a total of over RMB 13 trillion in loans issued.

Support green finance for sustainable development

To better support sustainable development, WeBank provides a dedicated service solution of green finance for environmentally friendly enterprises. For example, it helps reduce the cost of financing for green enterprises through targeted interest rate incentives.

In 2022, WeBank furthered its industry research in green credit and optimized its client structure. By analyzing segments of the green industry and providing multiple digital solutions, WeBank collaborates with leading companies in the green industry to provide preferential loan support to distributors across their industry chain.

In the case of auto finance, WeBank provides a multi-dimensional smart assistant toolkit for automobile enterprises, including AI online marketing, to serve wholesale financing needs of different new energy vehicle (NEV) brands. For retail clients, WeBank offers them NEV loans to help promote green transportation.

Leverage fintech for dual-carbon strategy

As a digital bank, WeBank has established a distributed core banking system, which supports its year-round accessible digital finance services. It also reflects WeBank’s response to China’s dual-carbon goals and implementation of the UN SDGs.

Based on this distributed core banking system, the operation of key business units at WeBank is fully digital, which further reduces carbon emission. With its propriety fintech development capabilities, WeBank has decreased power consumption by 25%, effectively reducing energy consumption.

Implement social responsibilities for shared value

WeBank actively fulfills its social responsibilities to create shared value for society while ensuring the steady progress of the business.

Dedicated to providing accessible financial services for everyone, WeBank also develops customized service for people with special needs. Back in 2016, WeBank set up an exclusive service channel for hearing impaired customers, thus becoming the first bank in the country that provides sign language customer services through video. WeBank has optimized information accessibility on its digital products including WeBank App to support visually impaired customers. Meanwhile, WeBank App has also launched a version for elderly customers to serve their user preferences. In 2021, WeBank offered more than 2 million services for hearing or visually impaired, or elderly customers.

WeBank’s barrier-free financial services also extend to rural revitalization. Through the “Weilidai” rural revitalization finance project, WeBank works with banking partners specifically in key counties that are under the national assistance program to support their rural revitalization. By the end of June this year, 38 counties, including 5 key counties receiving assistance for rural revitalization, have adopted the “Weilidai” rural revitalization finance project, contributing over RMB 270 million in tax revenue.


The Largest Digital Bank in China featured in the latest Forbes Blockchain 50


WeBank, the world’s leading digital bank, is featured in the Forbes Blockchain 50 2022. The bellwether list recognizes large corporations that lead in employing distributed ledger technology and reflects the spreading impact of the blockchain market globally. WeBank has been recognized for top-notch research and development of consortium chain technologies, as well as its continuous efforts in building an active consortium chain ecosystem. WeBank has provided open-sourced consortium chain technologies to the “The Green Bud Points” based on “Green Inclusive Cloud” developed by China Beijing Green Inclusive Network Technology Co., Ltd (”Green Inclusive”). It encourages the public to reduce carbon emissions by recording daily green behaviors on blockchain and rewarding those behaviors with credits that can redeem vouchers and gifts.

The Green Bud Points, a United Nations Sustainable Development GOALS partnership project, is built on the Green Inclusive Cloud. It intends to promote a green and low-carbon lifestyle by quantifying and calculating the carbon emissions of various environmental protection activities. The Green Bud Points stores users’ carbon emission reduction records on chain. Then, the underlying blockchain technology ensures that the issuance and distribution of records are transparent and traceable, thus securing trust among all users and involved parties. In 2021, the Green Bud Points has recorded more than 2,500 tons of carbon emissions reduced.

The Green Inclusive Cloud is one of many practical applications that surfaced in WeBank’s long-term commitment to provide open-sourced blockchain technologies. So far, WeBank has open-sourced more than 10 blockchain technologies, including leading the development of the underlying blockchain platform FISCO BCOS and the identity authentication and trusted data exchange solution WeIdentity. By implementing FISCO BCOS and WeIdentity, the Health Code Mutual Recognition System between Guangdong and Macao achieves reliable and compliant information verification across borders without direct exchange of personal data. From May 2020 to the end of 2021, more than 100 million border crossings have been through customs between the Chinese mainland and Macao using the system.

Besides providing technologies, WeBank strategically focuses on building consortium chain ecosystem. By the end of 2021, the WeBank-powered FISCO BCOS community has brought together more than 70,000 individual developers, more than 3,000 companies and institutions to participate in the construction of the blockchain industry ecosystem. There are more than 200 public administration, finance, agricultural, social welfare, entertainment, supply chain and IoT applications operating stably in the production environment.

Henry Ma, Executive Vice President and Chief Information Officer of WeBank, said, “Innovation and technology have always been core to WeBank’s strategy to become a world-leading digital enabler. In the coming years, we expect more opportunities in utilizing advanced technologies to serve the real economy and drive financial inclusion. With our leading-edge blockchain and other fintech capabilities, WeBank will continue to collaborate with our ecosystem partners to drive digital transformations across industries, and explore the paths for equitable, sustainable and green developments.”

SOURCE WeBank Co Ltd


WeBank Named in Gartner “The China Blockchain Service Network: A New Digital Infrastructure to Accelerate and Challenge Digital Commerce Globally”

WeBank named in Gartner’s report “The China Blockchain Service Network: A New Digital Infrastructure to Accelerate and Challenge Digital Commerce Globally”1 in 2020.

According to Gartner1, “The China blockchain service network (BSN) is a technical infrastructure designed to support and enable the majority of blockchain applications in the Chinese market and provide the backbone infrastructure for commercial activity. It can be regarded as a new internet protocol to facilitate trusted data, value and asset sharing between computer nodes. Gartner believes that from a policy objective, the BSN aims, in particular, to accelerate smart city developments — including activities involving Internet of Things (IoT), artificial intelligence (AI), payments, government processes and the digital silk road initiative.”

As in 2019, together with Hyperledger Fabric, WeBank’s consortium blockchain platform FISCO BCOS has joined the BSN as the only two officially certified licensing frameworks. The adaption of FISCO BCOS on BSN was completed in April 2020. Currently, many projects within the FISCO BCOS ecosystem are selected for BSN’s official designated applications.

Gartner also identified WeBank as a sample vendor in terms of blockchain in government in the Hype Cycle for Smart City and Sustainability in China, 20202. In 2020, WeBank applied its open-source blockchain technologies to on application scenarios, such as “The Green Mobility Inclusive Platform.” It aims to effectively promote the trusted data circulation and integration of public welfare data, helping to enhance the efficiency of industry-wide collaboration.

Also, responding to the global challenge of COVID-19, WeBank has actively fulfilled its social responsibilities. With its open source blockchain technology, WeBank supported the mutual recognition of cross-border blockchain health code between Guangdong and Macau. By the end of December 2020, the health code system has supported 300,000 daily customs clearances and a cumulative total of 38 million customs clearances, which greatly helped the resumption of work and production during the pandemic.


1. Gartner, The China Blockchain Service Network: A New Digital Infrastructure to Accelerate and Challenge Digital Commerce Globally, by David Furlonger31 August 2020

2. Gartner, Hype Cycle for Smart City and Sustainability in China, 2020, by Milly XiangUko TianKevin Ji31 July 2020

Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

SOURCE WeBank Co Ltd


WeBank resolves to become a digitalization enabler at SFF x SWITCH 2020


Dec 7 to 11, 2020. WeBank, the world’s leading digital bank, virtually participated in the Singapore Fintech Festival (SFF) and the Singapore Week of Innovation and Technology (SWITCH) 2020, the world’s first week-long round-the-clock, hybrid digital and physical event. It allowed audience access to over 650 speakers from the global innovation and tech community, 150 content partners, 200 sessions to engage participants and more than 900 exhibitors on the digital platform.

WeBank has engaged in the SFF for the third year in a row. At SFF 2019, Prime Minister of the Republic of Singapore visited WeBank’s booth. This year, WeBank brought its latest fintech achievements and explained its commitment to be a digitalization enabler in the era of digital economy.

 Henry Ma, Executive Vice President and Chief Information Officer of WeBank, shared his insights of open consortium chain at the From 1 to 100 – The Future of Blockchain Consortium Building session. “The concept of Open Consortium Chain initiates an approach which allows for rapid development and deployment of blockchain applications and also leaves enough room for organic growth down the road,” said Henry.

He also revealed the mutual recognition system of Macao blockchain health code and Guangdong health code. It is a typical digitalization case that adopted leading-edge technologies (or the new digital infrastructure) to build cross-border trusted collaborations in the digital economy era.

New digital infrastructure will catalyze the evolution of trust mechanism among businesses, which leads to deeper and wider trusted collaborations. Since its foundation, WeBank has researched and applied various digital infrastructure solutions, such as Federated AI Technology Enabler FATE, Open Consortium Chain platform FISCO BCOS, and one-stop open-source suitcase for big data platforms WeDataSphere. These open-source projects are gradually adopted by more communities of partners on their paths to digitalization.

As a technology innovator in the world’s leading digital bank league, WeBank stressed the theme “New Infrastructure for Digital Economy” with specific fintech capabilities and solutions on its virtual booths at the SFF x SWITCH 2020. For the first time, WeBank moved the real space of its central core of IT management – Enterprise Command Center online via a virtual tour program. It deployed an immersive experience of a fully-online digital bank’s daily operation. It also showcased latest researches and innovations in areas of AI, Blockchain, Cloud Computing and Big Data:

  • In terms of AI, WeBank displayed a series of leading innovations in Federated AI Collaborative Ecosystem, New-generation Human-computer Interaction, AI Marketing, and AI Asset Management.
  • WeBank illuminated the SG Blockchain Village with comprehensive Open Consortium Chain solutions including the infrastructure platform FISCO BCOS, middleware kits WeBase, applications such as identity authentication, data cooperation, cross-chain and privacy protection, as well as practical cases.
  • Cloud computing enables WeBank to provide plug-and-play solutions via a unique open banking infrastructure built on distributed architecture. With the IT management tool WeCube and the virtual fintech lab Open Zone, WeBank innovates internet+ finance while boosting time-to-value, scale-for-effectiveness, and cost efficiency-for-return.
  • WeDataSphere, an open-source financial-grade big data platform, allows enterprise to develop, deploy, operate, and manage the big data infrastructures supporting more than 250 million of customers online.

SOURCE WeBank Co Ltd