Industrial and Commercial Bank of China (ICBC) Applies for "Supplier Credit" Patent: Blockchain, Big Data, and AI Empower Fintech

Industrial and Commercial Bank of China (ICBC) Applies for "Supplier Credit" Patent: Blockchain, Big Data, and AI Empower FintechIndustrial and Commercial Bank of China Limited (hereinafter referred to as "ICBC") filed a patent application in August 2023 for a "Supplier Credit Method, Device, Electronic Equipment, and Medium," with the publication number CN119312357A. The patent was publicly disclosed by the State Intellectual Property Office on January 18, 2025, marking another significant advancement in ICBC's efforts to leverage advanced technologies to improve the efficiency of supplier financial services

Industrial and Commercial Bank of China (ICBC) Applies for "Supplier Credit" Patent: Blockchain, Big Data, and AI Empower Fintech

Industrial and Commercial Bank of China Limited (hereinafter referred to as "ICBC") filed a patent application in August 2023 for a "Supplier Credit Method, Device, Electronic Equipment, and Medium," with the publication number CN119312357A. The patent was publicly disclosed by the State Intellectual Property Office on January 18, 2025, marking another significant advancement in ICBC's efforts to leverage advanced technologies to improve the efficiency of supplier financial services. The core of this patented technology lies in utilizing blockchain, big data, and artificial intelligence to build a more secure, efficient, and precise supplier credit system.

The patent abstract reveals that this method aims to provide a novel supplier credit process. Core steps include: first, the system collects the supplier's historical order data and performs a series of data processing steps to extract key information, namely historical target data. This data undergoes rigorous screening and cleaning to ensure accuracy and reliability, providing a solid foundation for subsequent risk assessment.

Notably, the patent emphasizes the application of blockchain technology. After data processing, the historical target data undergoes blockchain encryption, generating encrypted order data. This step not only ensures data integrity and security, preventing data tampering or leakage, but also lays the foundation for building a trustworthy and transparent credit system. The decentralization and immutability of blockchain technology effectively enhance the transparency and traceability of the credit process, increasing the trust of all parties in the credit results.

Subsequently, the encrypted order data is input into a pre-trained order information prediction model. This model is built based on big data technology and artificial intelligence algorithms, enabling accurate prediction of supplier order risk. The model's training process requires a large amount of historical data and professional algorithm design to ensure the accuracy and reliability of its predictions. Through deep learning of historical data, the model can identify various factors affecting supplier credit risk and quantify them, thus providing more accurate risk assessment results.

Based on the order risk prediction results, the system obtains the supplier's predicted order information within the first prediction cycle. This step highlights the patent technology's predictive capabilities, enabling advance prediction of supplier order demand and providing more reliable data support for credit decisions. Accurate prediction of order information helps ICBC more effectively allocate financial resources, optimize credit strategies, and improve capital utilization efficiency.

Next, the predicted order information is input into a pre-built dynamic credit model. This model, based on predicted order information and risk assessment results, calculates the final credit information, providing suppliers with personalized credit solutions. The advantage of the dynamic credit model is its ability to dynamically adjust credit limits and terms based on market changes and the supplier's own circumstances, thus more flexibly meeting the supplier's financing needs and improving capital allocation efficiency.

Finally, after the supplier passes identity verification, the system provides them with the calculated credit information, allowing them to easily access the credit results. This step emphasizes security and convenience, ensuring compliance and user experience throughout the credit process. The identity verification process utilizes advanced security technologies to ensure that only legitimate suppliers can obtain credit information, preventing impersonation or fraud.

The entire process reflects ICBC's high level of expertise in applying blockchain, big data, and artificial intelligence technologies, aiming to create a smarter, safer, and more convenient supplier credit system. This not only improves ICBC's operational efficiency and reduces risk but also provides suppliers with more efficient and convenient financing services, promoting innovation in the financial sector.

This patented technology has broad application prospects. It can effectively address the inefficiencies and inadequate risk control in traditional supplier credit processes. Through automated and intelligent processing, it can reduce manual intervention, increase efficiency, and lower operating costs. Simultaneously, through big data analysis and risk prediction, it can more accurately assess supplier credit risk, reduce bad debt rates, and safeguard financial security.

As one of the largest commercial banks in China, ICBC has been committed to fintech innovation and application. This "supplier credit" patent application once again demonstrates its leading position in technological innovation. This technology not only enhances ICBC's own competitiveness but also provides a new direction for the entire financial industry, driving the advancement of fintech.

According to Tianyancha data, Industrial and Commercial Bank of China Limited was established in 1985, with registered capital of RMB 35,640,625,708.90 million and paid-in capital of RMB 24,800,000 million, headquartered in Beijing. As a company primarily engaged in monetary financial services, ICBC has deep accumulation and rich experience in the financial field. Tianyancha data also shows that ICBC has invested in 30 companies, participated in 5,000 bidding projects, holds 953 trademarks, 5,000 patents, and 74 administrative licenses. This data fully demonstrates ICBC's strong strength and wide-ranging influence. This new patent will undoubtedly further enhance ICBC's competitive advantage in fintech, driving its continued growth and development. Ultimately, the application of this technology is expected to bring broader social benefits, improve the overall operational efficiency of the supply chain, and promote economic development.