Blockchain-powered Remittance
Brand-new personal/corporate money transfer product allowing same remittance coverage with significantly lower financial and time costs for both clients and banks.
Background
In the summer of 2019, I interned at ICBC (Asia), the flagship overseas business of Industrial and Commercial Bank of China (ICBC). My position was in the New Product and General Administration Team under Payments and Cash Management Department.
Since the internship was awarded to the semi-finalists of the Bank's Financial Innovation Competition, my main responsibility was to improve my proposal (a Blockchain-powered remittance/money transfer product). I have also compiled an external product and market research report for senior management with a fellow intern.
Overview
Time
April - August 2019
Role
Summer Intern
Compiling 20-page
external product & market research report for senior management and Chief Executive OfficeCollaborated with colleagues in preparing a proposal and designed implementation model on blockchain-based cross-border remittance product
Key Takeaways
Experimental Mindset
By allowing yourself to experiment with different scenarios and ideas, you can really experience the best of both worlds. A breakthrough came after I experimented with the idea that the 2 money transfer system be utilized in parallel to leverage the best of both systems have to offer.
Communication enables enlightenment
Clear, timely communication and transparency are crucial towards a quality work product. This means that you should voice out any insights or problems you have, and learn from colleagues/superiors who are more experienced than you. By communicating in such a way, not only can you provide quality work product, but also a rewarding learning experience that will enlighten you for a long time.