Category: News

Recently, the Ministry of Finance issued the <<Interim Provisions on Accounting Treatment of Enterprise Data Resources (Draft for Comment)>>, which intends to standardize the accounting treatment of enterprise data resources and strengthen the disclosure of relevant accounting information. This presses the accelerator key for the “entry” of data assets, and will also greatly activate the vitality of data elements.

In the era of digital economy, data has risen to be a core factor of production and has become an important strategic resource of the country. Unleashing the value of data and cultivating a new engine for the digital economy is an important signal released by the national “14th Five-Year Plan” digital economy development plan, “14th Five-Year Plan and 2035 Long-term Goal Outline” and “Twenty Points for Data” in the past two years .

 

Data resources are undoubtedly the new blue ocean, and there is a huge room for imagination of assets that can be mined. As a leader in digital construction, the financial industry plays a “blood” role in promoting the application of data elements. As the digital transformation of banks enters the deep water area, how to use emerging technologies to activate the potential of data elements and fully release the value of data elements has become an important and urgent issue.

 

As a leading enterprise in domestic financial technology, Sunline Technology has a deep accumulation in the field of financial big data. It can provide consulting services on data architecture, data assets, and data governance, as well as construction plans for data platforms, data middle platforms, and lake warehouses. And the implementation of data applications such as regulatory submissions, risk applications, and customer relationship management; at the same time, continue to explore the application of cutting-edge technologies such as AI, cloud computing, and blockchain in the financial industry, and focus on continuously polishing corporate financial solutions with the latest technologies. Among them, the use of AI technology, combined with data analysis and data modeling, to realize the mining of data value in the financial industry is one of the forward-looking layouts of SunlineTechnology.

 

Based on this strategic layout, Sunline Technology has created a dedicated business team for data mining and AI projects. The team’s technical strength is hard-core, deeply integrating AI modeling technology, including NLP (Natural Language Processing), RPA (Process Robot) and other technologies with the company’s data application solutions, to create risk warning modeling, customer marketing models, intelligent Various AI application scenarios such as customer service and intelligent operation. After long-term business development, Sunline has made great achievements in the field of AI and data modeling, and has provided data analysis and mining modeling services for Postal Savings Bank, China Merchants Bank, China CITIC Bank, Ping An Bank and other financial institutions.

 

While continuing to focus on the application and implementation of AI technology, Sunline Technology has also actively launched joint explorations with partners in promoting the ecological construction of AI applications, and has completed the docking with many large-scale AI analysis frameworks and tool products in China. As early as 2021, Sunline and Huawei’s AI analysis framework MindSpore and AI one-stop development platform ModleArts have demonstrated each other and promoted them in the market.

 

Based on the MindSpore framework and the world’s leading natural language understanding and key big data technologies, Sunline Technology has independently developed big data products such as smart marketing platforms, smart risk control platforms, and data asset management platforms. The natural advantages of processing and storage technology, combined with knowledge map, data mining, natural language processing and other technologies, according to customer needs, with rich business scenario models, in-depth analysis and mining of data value.

 

 

 

At present, the data element market is developing at the right time, and there are more and more application scenarios of data modeling and AI for banks. Sunline Technology will integrate innovation with “technology + data”, actively explore and promote the innovative application of AI technology in more financial business fields, use technology to empower financial services to improve quality and efficiency, and help financial institutions achieve high-quality development

Recently, Guangzhou Bank’s credit card customer relationship management (CRM) system was successfully launched. The project is led and implemented by Sunline Technology, aiming to implement the “customer-centric” marketing service concept, and help Guangzhou Bank’s credit card business to achieve refined customers from customer management, product management, sales management, marketing management, customer analysis, etc. manage. At the same time, the system uses domestic software and hardware from servers, operating systems to databases, middleware, and browsers to build a safe and controllable data environment, becoming the first pilot project of Guangzhou Bank Credit Card to realize full-stack innovation!

 

With the advent of the digital age, the banking industry is facing dual pressures from both inside and outside: externally, Internet finance companies have built a highly loyal customer base through extreme product experience and services; internally, the market is becoming saturated, and financial products are at the same Qualitative intensification, leading to user experience less than expected. Faced with a sharp increase in the value utilization needs of customer resources, the “customer-centric” service competition has begun, and customer relationship management will be more deeply integrated into the entire process of bank operations than ever before.

 

Under the new situation, with the rapid development of Guangzhou Bank’s credit card business, the customer base and customer range continue to expand, the level of refined customer management is insufficient, the ability to operate scenarios needs to be improved, and the ability to support digital needs to be strengthened… Various business pain points hit , building a CRM system has become an inevitable choice for Guangzhou Bank’s credit card. At the same time, as the credit innovation transformation of the financial industry enters the “deep water area”, the Guangzhou Bank credit card has also pressed the “acceleration key” for the transformation of credit innovation. Take a solid first step.

 

For 21 years, Sunline Technology has adhered to the management direction of independent innovation, created a complete set of big data products with independent intellectual property rights, and actively built a safe and controllable ecosystem based on the entire financial scene. Solutions, and jointly build a benchmark for IT Application Innovation Industry. The marketing team of Sunline Technology integrates the advanced concept of “big data + Internet”, independently researches and develops the customer relationship management (CRM) system, introduces intelligent marketing, scene marketing, event marketing, Internet finance, Internet marketing and other modes, and identifies high-quality and loyal customers. , to provide personalized, differentiated and diversified service experience to achieve the goal of discovering potential customers and retaining valuable customers. At present, it has provided services for Ping An Bank, Minsheng Bank, HengFeng Bank, Ningbo Bank, Guangzhou Bank, Guiyang Bank and Zhengzhou Bank , Jiangxi Bank, Jiangnan Rural Commercial Bank, Qingdao Rural Commercial Bank and other nearly 30 financial customers have built CRM/smart marketing/operation management systems.

 

In the credit card CRM system project of Bank of Guangzhou, Sunline Technology built a full-stack, safe and controllable customer management system for customers based on the bank’s IT credit creation plan, including work platform, customer information view, and customer acquisition management 14 major functional modules, such as customer allocation and transfer, and customer follow-up management, support standardized management and operations such as customer management, customer marketing, and customer service, helping banks gain insight into customer value and characteristics, and form a closed-loop support capability for the entire process of the customer life cycle:

 

Full-stack IT Application Innovation Industry builds a digital security base

 

Equipped with a full-stack IT Application Innovation Industry platform, it realizes localization from the bottom server to the upper browser, and is well compatible with Haiguang, Kirin, Dongfangtong, ZTE, 360 and other domestic leading software and hardware manufacturers, and runs stably, fully guaranteeing data security;

Comprehensive customer 360 degree label

 

Sort out basic tags, including demographic attributes, behavioral attributes, user classification, business attributes, etc.; at the same time, design derivative tags for scenarios, such as “forgotten repayment family”, “job seekers” and other scene tags to create a 360-degree customer view portrait System, so as to improve the bank’s precise service and management capabilities for customers;

 

Marketing Process Automation Management

 

Support batch processing functions of business opportunities such as automatic dispatch, mandatory dispatch, closing dispatch, etc., and can edit the distribution rules. At the same time, the business opportunity manager can deal with timed-out business opportunities or abnormal business opportunities accordingly, and control the effect of branch dispatch orders based on the monitoring page , and provide functions such as timeout reminders to assist in the processing of business opportunities;

 

Flexible configuration of process management

 

Through the flexible configuration and management of process nodes, the efficient transfer of system tasks between different positions and different businesses can be realized, and the online interconnection of banking business can be promoted;

  

Break through related system barriers

 

Effectively guarantee the organic combination of direct sales channels and other channels, and maximize the value of channels. Taking the opening of the telemarketing system as an example, the potential customer data is obtained from telemarketing, and is intelligently assigned to the account manager based on the CRM potential customer rules or manually assigned to the account manager to realize the automatic management of potential customers.

 

The transformation of financial credit innovation and digital construction are not achieved overnight. Sunlight Technology will adhere to the concept of openness and win-win, innovation and striving to advance hand in hand with ecological partners. At the same time, it will focus on its own advantages in the financial industry to deeply understand the customer needs and markets of financial companies structure to help it determine the direction of differentiated transformation and realize refined customer relationship management that meets the requirements of the new era.

Sunline‘s in -depth Joint –Stock Business Banking Project has won the Fintech Award

 

Recently, the “Financial Technology Development Awards” hosted by the People’s Bank of China and the Securities and Futures Commission was announced. A domestic shareholding bank audit and supervision of the Huiyan Platform Project won the second prize!

 

The “Financial Technology Development Award” is the only ministerial science and technology award in the domestic financial industry. As one of the contractors of the award -winning project, Sunline’s participation in the development and implementation of auditing data markets, auditing clues models, smart auditing portraits, as well as smart transformation helped the bank achieve high-quality development.

 

In recent years, the joint -stock bank has attached great importance to the digital transformation work of auditing and supervision, with intelligent system construction and tool innovation as an important starting point. In 2018, it officially launched the planning and design of the audit and supervision of the Huiyan platform. After 4 years of polishing and quenching,  a new iteration from a single portrait perspective from a single portrait to a multi -dimensional intelligent audit portrait perspective is achieved

 

Smart audit portraits are spread out in “face”, and the overall situation of the entire bank is highly summarized, presenting multi -dimensional portrait information such as “institutional perspective”, “employee perspective”, “IT perspective”, “visual angle”, “retail perspective”; Big data, artificial intelligence technology and algorithms have built the industry’s first audit portrait application, supporting users to carry out index analysis modeling, and assisted the formation of systematic reports to enhance continuous tracking and dynamic review capabilities. Through the construction of the project, the audit portrait application of the joint -stock bank has been accelerated from traditional auditing models to the new model of continuous audit.

 

Since the beginning of 2018, the results of the projects jointly built by Sunline and the joint -stock bank have gained a lot of achievements. They have won a total of 7 “Financial Technology Development Awards” hosted by the People’s Bank of China and the Securities Regulatory Commission, covering the core, risk control, finance and other different differences In the field, 4 of them are deeply involved in Sunline Big Data Risk Team. The award demonstrates the innovative results of Sunline and the joint -stock bank in the field of financial risks, and fully demonstrate the in -depth insights of the two parties based on the practice of continuous audit and smart auditing.

 

In the future, Sunline hopes that in the field of compliance auditing and risk, it will continue to work with customers to expand more intelligent exploration and build a more intelligent platform. Under the wave of digital transformation of the overall industry, the supervision requirements of the outside world are greeted by the outside world. Protection and create more benchmarks in the industry!

Recently, the Central Committee of the Communist Party of China and the State Council issued the “Overall Layout Plan for the Construction of Digital China” (hereinafter referred to as the “Plan”). The “Plan” clearly states that building a digital China is a strong support for advancing the digital age and building new national competitive advantages. The release of the “Plan” has important guiding significance for the digital transformation of all walks of life and the construction of innovative and advanced digital infrastructure.

According to the “Plan”, the construction of Digital China will be laid out according to the framework of “2522”, namely:

1) Consolidate two foundations: digital infrastructure and data resource system

2) Promote the deep integration of five in one: digital technology and economic, political, cultural, social and ecological civilization construction

3) Strengthen two major capabilities: digital technology innovation system and digital security barrier

4) Optimizing two environments: the domestic and international environment for digital development

Based on the “Overall Layout Plan for the Construction of Digital China”, Sunline combines years of rich implementation experience and profound insights in the industry. Compared with other industries, the digital transformation of the banking industry has sufficient driving force, abundant talents, a sound foundation, rich in business cases and agile in implementation.

-Sufficient driving force: There are many banking business lines with natural data characteristics, which makes the business benefits brought by digital transformation to the banking industry relatively clear, which also promotes the adoption of digital technology by banking financial institutions.

-Abundant talents: the decision-makers and employees of banks are generally of high quality, and generally able to correctly understand the potential value of digital technology, thereby promoting the process of digital transformation.

-Sound foundation: Banks have a good foundation in terms of IT infrastructure construction and talent pool, which has laid a solid foundation for the rapid advancement of digital transformation.

-Rich business cases: Banks, especially commercial banks, have a very broad space for digital technology development and application due to their huge organizational structure, numerous business lines, complex business processes, and the urgent need to improve business precision operations and bank customer experience.

-Agile implementation: Banks have been deploying for many years in the direction of digital transformation and innovation, and have formed a set of agile construction ideas. Under the guidance of the new “Overall Layout Plan for Digital China Construction”, they can complete the implementation and deployment faster.

Therefore, in the process of China’s industrial digital transformation, the digital transformation of the banking industry is of special significance.

Sunline has been focusing on technological innovation for 21 years, and has 10+ branches around the world, with more than 6000 employees, and its business covers 10+ countries and regions. Due to its deep business understanding, leading technical capabilities, abundant delivery personnel, and rich implementation experience, it has created a full-stack leading solution covering digital finance, smart finance, smart finance and other businesses, and has long been leading the IT solution market for China’s financial industry.

As a pioneer of digital transformation, Sunline has been deeply involved in the banking industry for a long time. It has the most complete product line in the industry, including new core, a full set of business applications, a full set of data management, and a full set of technology stacks, which can meet the needs of the overall digital transformation with a full set of product systems, tested by the market. In the future, we will continue to deepen the application of digital technology in the financial field by embracing big data, cloud computing, blockchain, AI intelligence and other technologies. From talent reserve perspective, technical product layout, end-to-end services, products and solutions exists with the goal of creating future banks with customers, expanding the bank’s digital ecosystem and helping banks to carry out comprehensive business transformation. With excellent services, solutions, delivery, and R&D as the core, the fulcrum is to comprehensively build an enterprise-level “smart + agile” service framework as well as an independent and self-reliant digital technology innovation system for banks, realizing a credible and controllable digital security barrier in the construction of digital China.

After 18 months, the new generation core system project for Bank of Jilin has been successfully put into operation. The project group reconstructed 12 important information systems for the entire bank, realizing optimization and upgrading of the overall IT architecture and marking the commencement of the digital and intelligent transformation journey for the Bank.

Since Bank of Jilin has fully launched the “Jixing Project” in 2021, Sunline’s project team acted as the “chief engineer” in the essential information system reconstruction of Bank of Jilin’s new data warehouse according to the main aim of the Bank to unify data standards, creating a powerful technical platform for massive data computing and complex model processing, realizing comprehensive centralized collection, processing, storage and sharing of data, and comprehensively, timely and accurately displaying the operation status and trends of key systems of the head office as well as branches, ultimately maximizing the value of data mining for Bank of Jilin.

As an important part of the New Generation Core System Project, the data warehouse undertakes the key role of precipitating standardized data assets, exerting data potential, and building a high-performance and high-availability data platform.

Breaking through data barriers, achieves unified data collection and storage services

The new data warehouse adopts a five-layer model architecture. With clear layers and close connections, model transformation is achieved according to the characteristics of multiple legal persons for Bank of Jilin, realizing the splitting of multi-legal person data. At present, the platform has realized data warehousing of more than 50 upstream business systems, and provided data services and data interface processing services for more than 30 systems, effectively meeting the needs of various analytical businesses and applications.

Implement data standards and improve data sharing capabilities

Through the integration of the Bank’s data management and control platform, clearing barriers to data sharing across systems and business domains through combining data standards, realizing standard mapping of data warehouses that follow bank data governance management specifications and requirements in the process of data layering and data processing, as well as conducting data standardization processing based on unified metadata management requirements and data quality inspection.

Empower business applications and promote digital transformation

Through the construction of a new data warehouse, the data application capabilities of Bank of Jilin’s five major business pillars have been comprehensively improved to timely and accurately display the business operation status of the head branch via the management cockpit system, ultimately supporting senior management decisions. In lieu with the wave of information and innovation, the Bank of Jilin has taken advantage of the momentum and built a new data warehouse platform based on Sunline’s independent and controllable data warehouse solutions and supporting products, realizing the controllable full-stack technology from the underlying database to the upper data application portal and comprehensively ensure data security.

Database: Domestic MPP database is adopted to support large-scale data storage and processing.

Data collection: With the use of Sunline data exchange platform, data sharing and use between various systems through centralized management and other means.

ETL development: Sunline data development platform is adopted to ensure batch development, process standardization, operation visualization, and simplified maintenance.

Task scheduling: Sunline enterprise-level scheduling platform is adopted to efficiently manage batch tasks in the data warehouse, shortening the batch time window while reducing operations and maintenance costs.

In the future, Sunline will continue to work with more banks to further expand the leading practice of financial data platform system. Through the strengthening of independent and controllable technologies and its applications, the company will enhance the core driving force of financial technology innovation and ultimately lead the development of the industry.

In 2022, the Digital Currency Electronic Payment (Digital Renminbi) is the hottest topic in the digital economy. From rural revitalization to Digital Winter Olympics, from supermarket retail to tax payment pilots, the application scenarios of Digital Renminbi are constantly being enriched, the resulting innovation needs and industrial iteration opportunities have also become the focus of attention.

According to statistics, there were 18 financing incidents in the digital currency industry from 2021 to 2022, with a financing amount of several billion RMB. Reporter from the Technology and Finance Magazine combed through the announcements of relevant financial technology listed companies and found that many companies have already voiced their insights on the Digital Renminbi businesses on their investment platforms and has participated in the Digital Renminbi Red Envelope Distribution Projects of many banks. Global Infotech announced that the company has Digital Renminbi and innovation-led related technical reserves. The person in charge of Sunline’s related business also said in an interview with Technology and Finance Magazine that the company has assisted financial institution to participate in the application and promotion of Digital Renminbi in many instances, and developed Digital Renminbi wallet products for cooperative banks.

Reshaping the payment services landscape

According to the statistics of the Central Bank’s Data Research Institute, as of August 31 2022, the Digital Renminbi pilot has expanded from the original “10+1” pilot area to 23 areas in 15 provinces, exceeding 360 million cumulative number in transactions and reaching RMB 100.04 billion in amount.

Riding on the bandwagon, the stock capital market has also seen growth. In addition to being extremely active in the primary market, Digital Renminbi related concept stocks are also highly sought after, making stock capital a growing secondary market. At the beginning of 2022, related concept stocks have received more than ten consecutive limit increases, and the optimistic expectations of the main funds for the Digital Renminbi was seen.

In the view of Luo Zhuan, Marketing Director of Sunline’s Digital Banking Business Department, most commercial banks and operating institutions are currently only collaborating with the Central Bank to do preliminary pilot tests.

Once the Digital Renminbi is piloted or promoted on a larger scale, there will inevitably be an influx in Digital Payment scenarios, resulting in opportunities for financial technology companies in the industry.

“In the process of Digital Renminbi innovation, users’ dependence on channels will continue to decrease, resulting in the reshaping of the payment service landscape.” states Luo Zhuan on the reason for the early deployment of capital.

In the past ten years, the rise of e-wallets represented by WeChat Pay and Alipay has broken the model of China’s payment industry chain, and gained a huge share of it. However, as a non-cash payment method, Alipay, WeChat Pay, and bank cards need to be unified through a clearing agency to realize the unification of capital flow and cash flow, and the income of these players comes from the handling fees paid by users.

As a legal currency in the form of payment and settlement, the transfer of Digital Renminbi can be completed directly between consumers and merchants without the participation of clearing agencies, which means that the payment chain will be greatly shortened and handling fees will be removed. With the reshaping of the existing payment landscape, the financial technology industry will also undergo major changes.

In this regard, Sunline has a long-term plan and has made relevant technical reserves. Luo Zhuan said that the strength of Sunline is mainly to carry out system construction for banks and build a Digital Renminbi acceptance environment.

Based on the company’s 20 years of experience and technical accumulation in the construction of the core banking system and payment system, as well as the company’s knowledge in Digital Renminbi technology strategies and application scenarios, Sunlight has partnered with a number of banks to develop Digital Renminbi wallet products through R&D technology integration with our customers, offering an end-to-end Digital Renminbi Wallet Platform with comprehensive solution and implementation capabilities.

From the perspective of scenarios and technologies with enriched application scenarios of Digital Renminbi, the payment transactions must be able to support high frequency and concurrency, which means that the promotion and use of Digital Renminbi requires seamless communications and flow of relevant banking systems.

Luo Zhuan have provided an affirmative answer as to whether Sunline has made long-term preparations for this, stating “Digital Renmimbi is a system with very large business traffic in the future. When Sunline is designing products, we have already considered the need for high-performance and high-concurrency of banks in the next decade or so. With forward-looking considerations, our solutions will be able to undertake the explosive growth brought about by the Digital Renminbi.”

Expanding special application scenarios

As mentioned above, the reason why the cumulative turnover of Digital Renminbi exceeded the 100 billion mark is due to the continuous expansion of Digital Renminbi application scenarios. Up to now, in addition to general scenarios such as daily consumption and closed pilot projects, various special scenarios such as consumption red envelopes, government subsidies, special funds, pre-payments, etc. has been created. The Smart Contract technology supporting these scenarios has also become the key layout of many financial technology companies.

In fact, Smart Contracts did not immediately become the focus in the initial stage of Digital Renminbi development. In this regard, Liu Mingjing, Technical Director of Sunline’s AI Technology Development Department, explained that the Digital Renminbi has only done basic scenarios before the pilot, but its development on the B side is not enough to rely solely on traditional payment scenarios. When entering the innovation scenario, it largely needs to rely on Smart Contract technology to complete.

The application of Digital Renminbi Smart Contract Technology is to use technical means to prevent the possibility of prepaid card funds being misappropriated by setting payment restrictions on specific Digital Renminbi, such as specific scenarios, payment conditions, and payment amounts.

Specifically, in the field of prepaid fund management, Smart Contracts can effectively prevent fund misappropriation and achieve transparent management, by taking into account existing business models. In the field of targeted payment such as financial subsidies and scientific research funds, Smart Contracts can monitor payment purposes and improve the efficiency of government fund use. In the field of fund settlement like fund collection and intelligent account splitting, Smart Contracts can solve the compliance issues of payment transaction processing, improve the accuracy and automation level of fund processing, as well as reduce manual processing errors and risks.

“At present, the application of Smart Contracts is still in early stages of exploration. The Central Bank has not opened the interface of Smart Contracts. Most enterprises are also in a ‘wait-and-see’ state. The overall technology has yet to reach a large-scale operation.” Liu Mingjing also shared that the advancement of Smart Contracts depends on the Central Bank Data Research Institute to provide platforms and development interfaces, formulate basic rules, and powerful institutions to develop various types of Smart Contract access, and whether it can be widely applied depends more on whether a credible and open ecosystem can be established.

“The application of Digital Renminbi Smart Contract Technology is worth exploring and promoting. Sunline has carried out a framework for more than a year, and has applied for several related patents. The AI Department has also independently developed a Smart Contract Generation System, which can be used by banks to provide customers with a digital twin robot to carry out digital analysis, evaluation and negotiation of the entire loan process.” Liu Mingjing added, saying that Sunline plans to use Smart Contract Technology to improve the process of smart account sharing, so that the ownership of consumer funds is clearer and guaranteed. The scenario of timely and automatic transfer of funds relies on credible information to realize the implementation of scenarios such as digital operations as well as digital marketing of merchants and banks.

Responsibilities of all parties are still unclear

As a participant and observer of financial technology for many years, Yang Xiaoqiang, Deputy President of Sunline’s Digital Banking Business Headquarters, is also very optimistic about the prospects of the Digital Renminbi, but he also voiced some doubts about the development of the industry – What is the role of operating institutions in the development of the Digital Renminbi?

“In the past few years, we have found some issues while partnering with customers in Digital Renminbi projects, with the biggest being imperfect laws and regulations. The relationship between the rights, responsibilities and interests of all parties are not clear, slowing the motivation of the commercial banks in promoting Digital Renminbi. “

Yang Xiaoqiang also added that The People’s Bank of China has identified 10 designated operating institutions, including the six major state-owned banks (ICBC, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank), MYbank, WeBank, China Merchants Bank and Industrial Bank and the different arrangements of relationship between the Central Bank, operating institutions and commercial banks may have different effects and have an impact on the development of Digital Renminbi.

He explained that under the current model, if a commercial bank that is not a designated operating institution wants to develop its Digital Renminbi business, the bank needs to connect to the port of the designated operating institution. Firstly, the interface is limited, and commercial banks may not be able to satisfy customers in the short term. Secondly, commercial banks have to provide their customer identity and business data to operating institutions, which may discourage the enthusiasm of non-operating institutions to work with Digital Renminbi, putting a roadblock to the development and circulation of Digital Renminbi.

With the further development of Digital Renminbi, how operating institutions balances its relationship with other commercial banks in the process of performing its duties, how a certain amount of income to ensure smooth operation is obtained, and what restrictions and regulations should be in place have become issues worth exploring.

“The rules have been set, everyone’s doubts have been dispelled, and various innovations would soon be expected,” said Yang Xiaoqiang.

Since the COVID-19 pandemic, the global digital transformation and digital currency research and development have both pressed the fast-forward button, adding “wings” to the development of financial technology companies. In order to seize the opportunity, Sunline has established a subsidiary in Changsha that serves Digital Renminbi related application scenarios to provide banks with Digital Renminbi Scenario acceptance construction and development services.

While expanding its territory to other countries through “Belt and Road”, China has recently received an invitation from Thailand’s Financial Services Authority to advise the country on their digital currency business operation models and other aspects. The journey of overseas venture for Chinese Fintechs is accelerating.

During the Financial Core Pioneer Alliance Meeting on February 24 2023, Sunline and Alibaba Cloud jointly released their “Cloud-native Core Banking Solution”. The solution will support the cloud-native reconstruction and smooth migration of the legacy core banking system, providing the most solid foundation for the digital transformation initiatives of banks.

The “Guiding Opinions on the Digital Transformation of the Banking and Insurance Industry” issued by China Banking and Insurance Regulatory Commission in 2022 had put forward the requirements of technological capabilities construction for the banking and insurance industries, including improving the flexibility of infrastructure resources and continuous supply capabilities, realizing gradual independence in development, design, and upgrade capabilities for distributed architecture, establishing agile R&D operations that can quickly respond to the needs of maintenance system, as well as achieving key technologies and key information infrastructure R&D capabilities, etc.

In order to fully support the digital transformation of the banking industry, Sunline and Alibaba Cloud have formally reached a comprehensive collaboration in 2022. With 20 years of deep experience and knowledge in the financial technology field, leading innovation and R&D capabilities in core banking system, as well as the first self-developed distributed core banking system, Sunline has become a strong alliance for Alibaba Cloud. The collaboration between the two parties also included setting up a special technical team to carry out in-depth integration of Sunline’s new generation cloud-native technology platform and core banking system with Alibaba Cloud SOFAStack, cloud-native distributed database, Feitian cloud technology base, etc., through “application technology integration”, jointly creating cloud-native key core capabilities.

The team took 10 months to complete high-performance and stability tests and verifications in key scenarios for core banking systems such as current transfers, account inquiries, as well as interest settlements and entries. At present, the joint solution has completed the technology stack and product system integration. Based on the standardized integration of components, the joint solution focuses on distributed transaction consistency and high-performance processing requirements of the core system in terms of unitized architecture specifications and standards, distributed transaction integration, database performance optimization, as well as full-link monitoring and emergency responses, including:-

Full-stack distributed and self-developed technical support (deployment integration): Ali Financial Cloud Zone and full-stack technology products realize the deployment and high-performance testing of Sunline’s new generation cloud-native technology platform (APS) + core system (V8).

Unified technology platform and implementation process (process integration): Based on Sunline’s new generation cloud-native technology platform, the solution is built based on integrated platform capability covering design state, research and development state, operation state, as well as operations and maintenance state, to support business modeling, domain-driven design, full-stack application life cycle management of application development, application operation, architecture governance, as well as operations and maintenance inspection.

Unitized multi-active architecture (architecture fusion): Based on unitized top-level design, the solution supports application-level and enterprise-level unitized architecture design features, jointly creating cloud-native core application unitized architecture and master data standards to achieve standardization of technical components on both sides.

Intelligent operation and maintenance monitoring (operation and maintenance integration): Starting from core operation and maintenance scenarios, the solution integrates high-availability support system to realize “first aid kit” intelligent diagnosis and actions of application components, technical components and infrastructure.

High-performance stability (high-performance integration): Online (query/transfer) and end-of-day batch (withdrawal and settlement) have been optimized with 30-50% improvement in key indicators such as transaction throughput, response time, and resource overhead, with the reading of overall disaster recovery ability RTO = 0/RPO < 1 minute.

In addition, the cloud-native core banking solution has passed the environmental and system tests of both Sunline and Alibaba Cloud, being able to fully support the cloud-native reconstruction and smooth migration of the core banking system, providing a solid foundation for the transformation and future-proofing of banks in the digitalization era.

Moving forward, Sunline will further leverage its advantages as a world-leading financial technology solution provider and the collaborations with Alibaba Cloud and other partners to continuously promote technological breakthroughs, build a core technology ecological chain, and contribute to the digital transformation of the financial industry worldwide.

Yesterday, global leading banking software and technology services company, Sunline co-hosted Digital Finance Forum 2023 with Huawei Cloud, the fastest growing cloud in APAC, and Malaysian leading technology solutions provider, Cloudpoint at Le Meridien Hotel Kuala Lumpur. Delegates comprising of Business, Digitization, IT and other finance leaders convened at the financial forum that is centred on capturing the real value from Cloud and Digital Transformation through Core Modernization.

Ken Siew, Regional CTO presenting about the path, strategy and solution of the Core Modernization Journey

Muhamad Fahmi bin Mustafa, Pre-Sales Senior Manager and Islamic Banking Lead presenting about the best practices of Big Data in China’s banking industry

Wang Wei Min, Product Director of Sunline Credit Card Business presenting about how can Credit Card Business further grow in the Digital Payment Era

Vincept Ip, Regional Sales Director of Hong Kong Region sharing his insights on the FX System Digitalization of bank in Asia

Sijukurmar Kumaran, Lead Industry Solution Architect – Banking and Financial Services, Huawei Cloud APAC presenting on how to redefine Digital Finance innovation through Huawei Cloud

Kai Chen, Co-founder & CTO of Alauda presenting about DevOps applications 

With 20 years of rich experience in China’s FSI industry and seven years of global business development, Sunline Digital Core Solution have been upgraded to version 3.2, which adopts the latest cloud native architecture and modular design, supports the most current digitization features in the market such as Open Banking, BNPL, Embedded Banking, Islamic Digital Banking, etc. During the event, Sunline and Huawei Cloud also featured various comprehensive financial technology solutions that are localized for the Asian region such as Sunline’s Big Data Platform, Digital Credit Card Platform and Digital FX Core Platform, while rolling out Sunline’s SaaS delivery model to drive the success of Malaysian financial institutions with a hyper-efficient, elastic scalability adoption alternative.

During the event, Sunline Technology (Malaysia) Sdn Bhd (Sunline) has also inked a Memorandum of Understanding (MoU) with Cloudpoint Solutions Sdn Bhd (Cloudpoint) and Huawei Cloud Malaysia to give full play to their respective advantages, bringing richer digital financial services to the banks and financial institutions in Malaysia with their technical strengths and resources.

Memorandum of Understanding (MoU) signing with Sunline, Cloudpoint and Huawei Cloud Malaysia

Commenting on the partnership, Ruby Zhou, Deputy CEO of Sunline International said, “Sunline is honored to collaborate with Huawei Cloud and Cloudpoint to further propel the Digital Transformation of the Financial Industry in Malaysia. As the leading financial IT experts and driven with a purpose to make banking relevant, we believe our continuous efforts and commitment in offering the most innovative technology advancements will empower Malaysian Banks to be more prepared to face the competitive market.”

Lim Chee Siong, Vice President of Huawei Cloud Malaysia, added, “The partnership with Sunline and Cloudpoint will see joint innovations in Digital Transformation for Finance Industry in Malaysia. Huawei Cloud focuses on establish mutual success with partners by leveraging each other expertise, and ultimately to bring more values to our customers.“

Sunline and strategic partners, Huawei and Cloudpoint who co-hosted the event, demonstrated their support to the concept of Bank Digitization through actively investing in the construction of joint solutions to help banks bring new capabilities to the global market more quickly and remain top performing. The continuous collaborations between the three parties will bring greater innovation to the Malaysian market, helping the financial industry in the country to accelerate their digitization journey.

In order to serve the real economy, promote the comprehensive deepening of the capital market reformation, realize high-quality development of the securities industry, condense the wisdom of industry research, and promote industry research exchanges, the Securities Association of China organized and carried out key research topics selection for 2022. A total of 476 project declarations were received, out of which, 183 were established key research projects.

During the selection, 59 outstanding project reports were finally selected by experts after an independent, objective and impartial review process by academic, regulatory and industry experts after 3 months of research. The “Research on Data Governance Construction Practice in the Intelligent Full Life Cycle of Securities Industry” jointly submitted by Sunline, Tianfeng Securities and Datablau was selected as one of the outstanding research topics, and it is also the only selected topic in the field of data governance.

Being able to stand out among nearly 500 submissions, the topic submitted by Sunline, Tianfeng Securities and Datablau undoubtedly highlights the ability and professional level of the research in the field of data governance construction.

1.   Background of the subject

Compared to banking and digital industries, data foundation in the securities industry is relatively weak, and data governance still faces many challenges like difficulties to carry out data governance for a longer timeframe due to lacking system, limitations in governance implementation due to low number of combined theory and implementation cases, disconnection of data research and development due to post-event rectification and inefficient data governance,  as well as problems related to upgrade due to large data governance workload. Although data governance is heavily invested in, but its business perception is not obvious and building a comprehensive and effective industry data governance system is full of challenges.

2.   Abstract of the project

Based on the current situation of the data governance system construction in the securities industry, Sunline, Tianfeng Securities and Datablau have established a sound methodology for the full-life cycle intelligent data governance of the securities industry with the goal of realizing data assets value, taking the data governance methodology of DAMA and other domestic and foreign data governance organizations as theoretical guidance, adopting the excellent cases of banks and the Internet as reference, and based on the practical achievements of the securities industry, combined with the data governance and experience in data life cycle management of Tianfeng Securities, the research have developed a data asset management platform for the securities industry that can realize full life cycle data governance.

3.   Topic ideas

The issues revolve around data processing and precision control, data governance R&D integration, data asset management empowerment, and data asset value assessment. The four directions carried out in the key research aims to provide reference for interbank data governance and empower the high-quality development of the capital market and securities industry.

Data process and precision control: Covers the entire data production, collection, transmission, consumption and destruction processes, scientific data life cycle control that conforms to the characteristics of the securities industry is formulated and the control process to the platform is implemented to achieve accurate control.

Data governance R&D integration: Embed data asset management platform and data modeling platform into (or apply to) the application and data R&D processes, transforming cumbersome and manual to intelligent and automated processing, improving post-event rectification to pre-event standardization and in-event control, ultimately improving R&D quality and achieving governance goals.

Data asset management and empowerment: Integrate data standards, data quality, metadata management and other functions to improve the efficiency of stock data management and control, improving data governance and R&D efficiency with the help of machine learning algorithms while establishing a data asset catalog, supporting business personnel data asset query and search, and ultimately empowering business.

Establish a quantitative system for data asset value assessment: Data asset evaluation is carried out from the aspects of data value and data quality through quantitative methods, providing reference for data application and guidance for IT construction investment.

Digital transformation has become the strategic consensus of many securities companies, and data governance is the only way forward to digital transformation. However, data governance is not a project that can be achieved overnight. A team of data governance talents with business knowledge, data thinking, and professional skills is the strong foundation and the intelligent data governance platform is an indispensable tool. In the future, Sunline will continue to explore artificial intelligence technology, improve the intelligence level of the data governance platform, and empower the securities industry to build a comprehensive and effective industry data governance system.

Digitalization is the new trend and standardization should follow the trend of the digital age. We must accelerate the digitalization of standards and support the construction of a more convenient, efficient and inclusive digital era with more complete, better and higher standards.

– 2022 World Standards Day China’s message (excerpt)

  

Internet, big data, cloud computing, artificial intelligence, blockchain… The speed of digital technology, the scope of its radiation, and the depth of impact are unprecedented. Standardization in the digital age is playing an irreplaceable fundamental role. 

In 2021, the Chinese Communist Party Central Committee and the State Council published the “National Standardization Development Outline”, making it very clear that “standards are the technical support for economic activities and social development, and are an important aspect of the country’s basic system.” Standardization plays a fundamental and leading role in promoting the modernization of national governance systems and governance capabilities.

To further promote digital transformation in the financial industry, it is necessary to standardize data processing processes to highlight the value of data business, and build a standardized, process-based, integrated, and automated data governance system to ensure that the data architecture is reasonably planned, the data processing is clearly organized, the data assets can be inherited, ensuring the entire data production and consumption process can be effectively controlled. Therefore, formulating and implementing feasible supporting data standards to provide a strong guarantee and foundation for data elements is an important topic that all financial forces need to work together to promote.

Vigorously carrying out standardization work, leading the high-quality development of the industry

As a domestic financial technology leader, Sunline is committed in making “latent knowledge explicit and explicit knowledge standardized” by actively promoting collaboration with relevant institutions in the industry and domestic standardization organizations, driving a healthy and orderly development of the industry. 

In 2022, Sunline participated in the compilation of three reports and standard guidelines, namely the Financial Data Warehouse Development White Paper, the Financial Application Alliance Chain Technology Privacy Protection Research Report, and the Quantitative Evaluation Specification for Data Capabilities in the Financial Industry, covering different fields such as data architecture, data warehouse, and privacy computing, implementing standardization strategies with practical actions to lead the high-quality development of the industry.  

• Financial Data Warehouse Development White Paper released by the Institute of Financial Informatization 

As a representative of excellent enterprises in the financial technology industry and the company’s rich experience in data warehouse construction, Sunline was invited to participate in the compilation of the data warehouse construction strategy chapter of the Financial Data Warehouse Development White Paper. The report systematically sorts out the development history of data warehouse, deeply analyzes the application of data warehouse in the financial industry, and puts forward seven key technologies and ten development trends of financial data warehouse, providing references and guidelines for financial institutions to build, upgrade and optimize their data warehouse.

• “Financial Application Alliance Chain Technology Privacy Protection Research Report” released by Beijing Fintech Industry Alliance

As a member of the Beijing Fintech Industry Alliance, Sunline participated in the compilation of the “Financial Application Alliance Chain Technology Privacy Protection Research Report”. Focusing on the practical cases of combining alliance chain and privacy computing in joint risk control modeling and anti-money laundering, the report explored the application value of cutting-edge technologies in the financial industry, and providing reference for the application of alliance chain technology in privacy protection of the financial industry.

• Beijing Fintech Industry Alliance “Quantitative Evaluation Specification of Financial Industry Data Capability”

Combining practical experience in the fields of data governance and data quality improvement in the financial industry, Sunline was invited to participate in the compilation of the “Quantitative Evaluation Specification for Data Capability in the Financial Industry”. Focusing on the hierarchical quantitative evaluation indicators of capabilities in various data fields and based on national standards and industry standards, the report combs and formulates relevant standards and specifications.

In addition, Sunline has also participated in the compilation of the “Information Technology Artificial Intelligence Service Capability Maturity Evaluation Reference Model” and “Financial Data Security Scoring Guide” in recent years. Among them, the “Financial Data Security Scoring Guide” was led by the People’s Bank of China, with the participation of many domestic banks and technology companies. Sunline provided practical experience references by combining rich practice cases in the financial industry to provide suggestions for the preparation of standards such as data asset classification, data security level rules, and data security rating specifications. The “Information Technology Artificial Intelligence Service Capability Maturity Evaluation Reference Model” was initiated by the China Electronics Standardization Institute, which condensed industrial strength and cluster advantages to promote artificial intelligence standardization work.

Moving from more than just system co-builders towards becoming a standard-setter

Promoting standardization is a work that requires long-term accumulation and hard work, and is not achieved overnight.

• Walked thousands of miles, doubling product + market reputation

Sunline data products have provided tailor-made consulting and landing practical services for nearly 300 financial institutions such as China Development Bank, Agricultural Development Bank, Export-Import Bank of China, Bank of China, Postal Savings Bank, Bank of Communications, China Merchants Bank, Everbright Bank, Ping An Bank, Bank of Shanghai, Bank of Nanjing, etc., implemented and delivered more than 1,000 cases of various projects, enjoying a high reputation in the industry and fully recognized by customers.

Industry authority with strong guarantee of a professional team

In addition to serving as a member of the Big Data Governance Sub-committee of China Electronics Industry Standardization Technology Association, DAMA China Sub-branch, and Huawei Kunpeng Intelligent Data Alliance Big Data Industry Promotion Group, Sunline has officially become a DCMM (Data Management Maturity Assessment) assessment organization, and has a data product development and consulting planning team composed of high-end talents and senior experts. Among them, some team members have obtained a series of authoritative certifications such as “Data Governance Industry Expert”, “DAMA CDMP Data Management Professional Certification”, “Senior System Architect”, “Huawei Software Engineer Certification”, “Jushan SCDA Data Engineer Certification”, and “Transwarp Big Data Platform Certified Architect”.

In the past two years, Sunline has successively participated in the formulation of a number of industry standards, which is a testimony to Sunline’s strength in the field of big data, and is also a self-precipitation after 20 years of practical experience in data consulting services and product research and development, and is also a steady and big step taken by Sunline from a single system builder to a standard-setter. 

In the future, Sunline will continue to implement the National Standardization Development Outline, deeply participating in the preparation of relevant technical standards in the domestic financial industry, giving full play to the basic and strategic role of standardization in the construction of the financial industry data field, and leading a healthy, orderly and sustainable development of the industry with enterprise-level data intelligent products, multi-scenario data solutions and high-level big data technology.