Alumni Stories
Charles Guan

Empowering Financial Institutions: Rich Data Corporation’s Charles Guan’s Pursuit of AI and Education at CKGSB

In the rapidly evolving landscape of finance, the integration of technology and data analytics has become critical for institutions looking to enhance decision-making processes and drive innovation. Charles Guan, an alumnus of Cheung Kong Graduate School of Business (CKGSB), epitomizes this trend through his pioneering venture, Rich Data Corporation (RDC). In a recent interview, CTO and Co-Founder Guan sheds light on his decision to pursue education at CKGSB and shares insights into Rich Data’s innovative AI-driven platform.

Charles’s decision to enroll in the Global Unicorn Program at CKGSB held in Singapore was driven by the school’s expertise in fostering unicorn companies and its well-designed curriculum, focused on business expansion and scaling. The program’s organized sessions and insightful approach, particularly Dean Xiang’s global perspective, provided Charles with valuable insights and strategies for scaling his business. “During times of uncertainty, I think it’s extremely important for business leaders to go back to the classroom, learning from peers and exploring areas for new opportunity and growth,” says Charles. “Through CKGSB’s program, I had the opportunity to meet with investors, founders, policy-makers and executives who are all working in Asia’s cutting-edge industries.”

The decision to pursue an executive education course at CKGSB could not have come at a better time. At the end of 2023 and only a few months after completing the program, RDC successfully raised AUD 28 million ($17.5 million) in a Series B funding round, powering its plans for expansion. Charles says, “I would wholeheartedly recommend CKGSB’s Global Unicorn Program to aspiring entrepreneurs and business leaders. With exceptional professors, well-designed courses, and a vibrant student community, CKGSB offers invaluable resources for scale-ups looking to accelerate their growth and achieve long-term success.”

Through their AI-driven platform, Rich Data Corporation is assisting banks to harvest the rapidly growing power of AI in business lending. By leveraging AI-based decision strategies, they enable banks to achieve efficiency savings, expand market reach, and mitigate risks. For instance, their platform has helped a bank reduce the effort for bankers to regularly review customers by 30%. They’ve also helped banks extend lending offers to SMEs by billions of dollars while reducing bad debt provisions significantly.

AI is deeply embedded in Rich Data’s technology, supporting AI adoption within the highly regulated banking sector. Their platform utilizes cutting-edge AI techniques, including data sensors for real-time data processing, advanced risk evaluation models, and no-code decision engines. By ensuring secure data management, compliance with regulatory standards and responsible AI practice, Rich Data facilitates the safe and ethical utilization of AI in banking operations.

Charles believes that AI holds immense potential to transform the financial sector, provided it is used safely and ethically. While AI may not replace human judgment entirely, it can significantly improve efficiency, expand financial services to unserved and underserved markets, and improve overall quality of services. Embracing AI technologies will be crucial for companies aiming to gain a competitive edge and drive sustainable growth in the industry.

Charles’s journey with Rich Data Corporation stemmed from his background in data analytics and predictions within the justice sector. Inspired by the transformative potential of data and technology, he co-founded Rich Data with a vision to drive financial inclusion and positive societal impact through AI-driven solutions, particularly in business and commercial lending. “According to estimates from the World Bank, there is a $5 trillion gap in SME credit globally. Our ambition is to enable banks and other financial institution to close this gap. With fair and sustainable funding, SMEs will be the engine to advance the economy and welfare of global communities,” says Charles. With a focus on markets open to adopting their solutions, the company is poised for expansion into North America, Asia Pacific, Europe, and the Middle East, following its success in Australia and New Zealand.

Charles Guan’s journey exemplifies the transformative potential of AI in the financial sector, and his education journey at CKGSB underscores the importance of quality education in driving entrepreneurial success and innovation. As Rich Data Corporation continues to expand its footprint globally, it remains at the forefront of driving financial inclusion and positive societal impact through AI-driven solutions.

About CKGSB Global Unicorn Program

CKGSB is the first business school in China and now globally to offer programs specifically designed for unicorn and soon-to-be-unicorn founders. Our unicorn programs focus on meeting the needs of founders and co-founders of unicorn and soon-to-be-unicorn companies. To date, 1,188 founders of companies with at least Series A funding have studied at CKGSB, including the founders of 151 unicorn companies in total and 41 unicorn companies listed on CB Insights.

Visit our Global Unicorn Programs website to learn how CKGSB can help your business achieve the $1 billion valuation and beyond, while embracing global responsibility, social purpose and long-term perspective.

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