Recently, the head office of Ping An Bank (PAB hereafter) signed a graph database & graph computing procurement contract with Ultipa. The two sides will give full play to their professional advantages in the field of retail banking risk management, data efficiency, deep data correlation and other aspects of cooperation and innovation.

PAB is the first listed national joint-stock bank in mainland China. Up to now, it has opened 92 branches and 1078 business institutions in China. It is one of the largest commercial-retail bank in the world. On the retail side of PAB, its's serving over 200 million retail customers. In the face of massive and complex data processing and data security problems in the banking business, PAB will use Ultipa's industry-leading real-time graph database and graph embedding AI technology to quickly respond to customer needs, ensure bank risk control security, and deeply mine and release the power of smart data correlation.

Ultipa graph database system can be widely used in finance, telecommunications, medical, supply chain and other industries, and has been successfully applied in many scenarios of financial industry, such as risk management, asset and liability management, liquidity risk management, anti-fraud, anti money laundering, knowledge graph, explainable AI and so on, with a number of world-renowned leading enterprises as its customers.

"PAB, as a commercial bank with distinctive retail characteristics and leading fintech advantages, has been committed to the development strategy of Finance + Technology in recent years," said the Head of PBA's Retail Dept. "Our cooperation with Ultipa is based on Ultipa's leading-edge and mature application in the field of graph database technology, so as to help us create the ultimate customer experience, strengthen risk management, and also reduce costs and increase efficiency."

Regarding the cooperation, Ultipa CEO Ricky Sun said: "PAB is committed to the development of ecological strategy with leading scientific and technological advantages. It acutely recognized graph database as the core driving force of enterprise intelligence and the inevitable trend of the development of business intelligence. We will give full play to our technical professionalism to help PAB with its risk control via real-time graph-database-powered analysis and mining of massive and complex data. "

Ultipa's director of engineering, Jason Zhang, also emphasized that Ultipa fully considers the superior usability (optimal user experience) of graph database in order to provide the ultimate user experience. "The learning threshold of UQL, graph query language of Ultipa, is very low, an average staff can master the application in 20 minutes. In addition, Ultipa provides a one-stop highly visualized graph database and knowledge graph management components, so that not only the bank IT staff can finish the containerized cluster installation via one-click in heterogeneous hardware or virtual cloud platform environment, the bank clerks can have a highly-visualized web console to explore with their data smoothly and hassle-free. "