Financial companies in China are accelerating the integration of DeepSeek's open-source large language models into their systems to boost efficiency, Yicai Global reported Monday, citing industry insiders.

Banks and lenders are using chatbots in internal artificial intelligence office tasks, code writing and smart customer services, but these are rarely used in bank account transactions, China Banking Association Chief Information Officer Gao Feng told Yicai.

Bank of Jiangsu (SHA:600919) said it deployed DeepSeek-VL2 and DeepSeek-R1, a multimodal model and lightweight inference model, respectively, for the quality inspection of smart contracts and automated valuation reconciliation, the report said.

The DeepSeek AI assistant is being deployed in the systems of over 10 fund managers, including China Universal Asset Management, Lion Fund and Fullgoal Fund, the report said.

Securities companies, such as Guotai Junan Securities (SHA:601211, HKG:2611), Sinolink Securities (SHA:600109) and GF Securities (HKG:1776, SHE:000776), are using DeepSeek-R1 in some scenarios, the report said.

Moreover, Ping An Insurance (Group) (HKG:2318, SHA:601318) told Yicai that it is looking at the deployment of big data open-source platforms, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)