Category: News

A few days ago, Sunline won the data platform construction project for a provincial agricultural credit guarantee company in China, actively exploring the digital transformation of the agricultural burden system, helping the high-quality development of agricultural credit guarantees, and providing financial services for rural revitalization with agriculture as well as empowering rural modernization.

The report of the 20th National Congress of the Communist Party of China proposed to comprehensively promote rural revitalization. Implementing the rural revitalization strategy is a major historical task in building a moderately prosperous society and building a modern socialist country in an all-rounded way. Fully supporting the implementation of the rural revitalization strategy is not only the political responsibility of the national strategy for financial services, but also an important opportunity for the high-quality development of finance.

As one of the important starting points of the financial services rural revitalization strategy, the national agricultural credit guarantee system is the “bridge” between the government, financial institutions and farmers, providing “one-stop” services such as financial support policies, subsidy funds, and loan guarantees for new agricultural entities, ensuring that financial living water continues to flow to the three rural related fields.

A provincial-level agricultural credit guarantee limited liability company (hereinafter referred to as a provincial agricultural credit guarantee company) focuses on the policy of serving the three rural areas, serving national food security, and supporting the role of grain “ballast”, takes solving the “difficult and expensive financing” of agriculture as its own responsibility, continues to give full play to the efficiency of agricultural credit guarantee services, and makes positive contributions to financial promotion of poverty alleviation and the implementation of rural revitalization strategy.

At present, in the face of new opportunities and challenges in the era of digital economy, how to give full play to the driving role of digital technology, create a new engine for the growth of agricultural burden business, continuously expand the coverage of agricultural burden policies, and enhance the availability and inclusiveness of rural financial services has become an urgent need of the provincial agricultural credit guarantee company.

As a leading financial technology service provider in the industry, Sunline believes that big data empowers corporate decision-making, risk prevention and control, and is a new lever to leverage financial support for farmers. Taking data as a key production factor, deepening data application and bridging the “digital divide” have become the key links for financial technology to accurately empower rural finance. With the advantages of industry understanding and data accumulation through 20 years of deep cultivation of financial informatization, Sunline won the bid for the data platform construction project of in one fell swoop, and will tailor an efficient, robust and secure one-stop data platform solution for the customer.

In view of the large number of new agricultural business entities in this project and the various types of scattered and incomplete information in multiple departments, Sunline will sort out the business data at all levels related to the business decision-making of the provincial agricultural credit guarantee company based on a global perspective, including relevant government departments, banks, upstream and downstream enterprises in the industry chain, customers, businesses as well as other internal and external data resources to complete the reclassification and storage of basic data, the classification and sorting of main business application scenarios; build a data architecture with industry characteristics; realize the unified management and application of data assets; and provide future data needs through data mining, data analysis, data-driven decision-making, etc. to provide a solid foundation for the company.

As the most important capital factor allocation system in China’s rural economic development, rural finance plays an important role in the rural revitalization strategy. As a financing bridge for rural finance, the digital transformation process of the agriculture credit guarantee company is of great significance to the development of rural digital inclusive finance. Sunline looks forward to working with more agriculture credit guarantee companies to actively explore the application of cutting-edge digital technologies in business scenarios, and further empower rural financial services with innovation to improve quality and efficient services.

 

As the cornerstone of the company’s business development and solutions innovation, serving top major customers has always been a must for major financial technology vendors. Sunline’s Big Data business has grown with more than 200 customer practices, and with its leading market share in the industry, the competitive advantage is obvious. So far in 2022, Sunline’s Big Data business has successively partnered with many leading banks in China, and recently won three projects of a joint-stock bank, continuing to exert efforts in this “top major customer” battle.

In recent years, the great wave of digital economy development has accelerated the digital transformation of financial institutions to the deep blue sea. As an important production factor in the digital economy era, big data is also a key element supporting the digital transformation of financial institutions. For financial institutions, “activating the potential of data and fully unleashing the value of data ” has become an important and urgent issue.

As a leading domestic financial technology enterprise, Sunline has been deeply engaged in the construction of financial data system since its establishment. After 20 years of development, Sunline has witnessed and actively participated in the development of the financial industry from information digitization, business digitization to data-driven business. At present, the company has formed a comprehensive range of big data products, which can output a five-in-one overall solution of “seeking, gathering, management, calculation and use” for financial institutions, from business digitalization, digital assets, asset-for-service to service-for-business, activating the potential of data collected by the bank to help build an integrated data closed loop, ultimately realizing a smart bank with the support of financial technology.

In 2022, Sunline actively implemented internal strategic transformation and continued to deepen its 2.0 strategy. In terms of customer operation level, we continued to make efforts in four directions: head customer development, key customer operation, pan-financial development and overseas development. Based on super product strength and agile innovation ability, Sunline has created great milestones in the field of big data, winning projects for a number of heavyweight customer orders one after another, and recently swooped three big data projects for a joint-stock bank, covering several major capability systems such as data collection, data integration, data services, and data applications. This also confirms that in the competition for top major customers, Sunline has made obvious progress in the scope and depth of partnership with customers, showing strong competitiveness.

Credit card quasi-real-time calculation and service system upgrade project

Based on the quasi-real-time credit card calculation and service platform built in the early stage, the system accesses, processes and integrates the data in the bank in quasi-real-time around the direction of business development, provides near-real-time computing services for credit card business personnel to meet the environmental requirements of independent data services and computing for credit card developers.

Anti-money laundering (AML) inspection data management platform system upgrade project

Through the upgrade of the application system, it meets the regulatory requirements of the People’s Bank of China and the needs of the development of anti-money laundering business, reduces the manual labor intensity of business personnel, improves the level of automated processing, and ensures the accuracy of operations.

Related party transaction monitoring system upgrade project

Through the construction and maintenance of the related party transaction monitoring platform system, the upgrade ensure automation ability of related party transaction data statistics in the bank, improving the level of business processing and management efficiency, and strengthening the ability of profit and risk control.

Under the tide of digital transformation, Sunline will bravely stand at the forefront of industry development, continue to promote customer business development strategies by adhering to the business direction of solution and product innovation, and creating a full-chain financial big data capability system with independent intellectual property rights with the mission to help financial institutions fully release the potential of data and ignite the “data engine” of financial digital transformation.

Recently, the Kunpeng Application Innovation Competition 2022 Shenzhen Division Finals ended successfully. The Kunpeng Application Innovation Competition is a top-level competition for developers around the world and this division competition was jointly organized by the Industry and Information Technology Bureau of Shenzhen Municipality, Shenzhen Nanshan People’s Government, Huawei Technologies Co., Ltd., Financial Innovative Research Center, Kunpeng Industrial Source Innovation Center (Shenzhen) Co., Ltd., Baode Computer System Co., Ltd., Tongxin Software Technology Co., Ltd., Kylin Software Co., Ltd., Shenzhen Software Industry Association, Shenzhen Nanshan District Financial Industry Association.

The division competition was conducted in the form of virtual defense and expert reviews. The participating teams were faced with challenges from different dimensions in terms of technology finance, digital government, and digital transformation of enterprises, and were required to use Kunpeng technologies and tools to develop and optimization, to come out with the most effective solutions to solve the challenges, with the ultimate goals to improve the level of industry informatization and operational efficiency.

Since the official launch of the division competition in Shenzhen, many well-known companies in the industry participated. After fierce rounds of competition and comprehensive review by experts from the competition organizing committee, 56 teams were selected from more than 900 teams in terms of program innovation, technological leadership, business prospects and social value. Sunline was crowned Champion in the openGauss open-source database track with the company’s full-stack Kunpeng ecosystem bank general ledger system and will advance to the national finals!

Program Highlights

Technical architecture features: Sunline’s general ledger is based on a microservices + distributed computing architecture, combined with distributed technology to achieve the effects of high cohesion, low coupling, high availability, high concurrency, high performance, and flexible expansion, best suited for equipping with a large number of innovative domestic products.

Distributed database: Sunline’s general ledger adopts distributed scheduling + distributed database (OpenGauss) and other mechanisms to process day-to-day and end-of-day batch businesses,  realizing the system performance improvement, single point of failure avoidance, and ensuring the system by expanding applications and database nodes. Combined with the high availability deployment mode of dual centers in the same city and three centers in two places, the system can meet the requirements of leap-forward growth of business volume.

At present, the solution has passed compatibility certification, reliability verification, and security compliance inspection. Both Sunline and Huawei have jointly conducted the verification of the containerized deployment of the general ledger product, as well as the verification of product configuration functions and business scenarios. The solution has passed all performance tests and obtained the Kunpeng Technology Certificate.

(list of winners)

We look forward to seeing you at the 2022 Kunpeng Application Innovation Competition National Finals in Hangzhou!

Data is essential in the digital economy era and a key factor supporting the digital transformation of financial institutions. For financial institutions, digging deep into the value of data and unleashing the potential of data is an important way to enhance core competitiveness.

As a leading domestic financial technology company, Sunline has long been in the forefront of the industry, in terms of market share in the field of financial data, serving more than 200 financial institutions around the world, implementing more than 1,000 various project cases, and participating in different levels of customer group support in the financial industry. The implementation of major projects has created many influential benchmark cases in the industry. Recently, Sunline’s big data business has reached another important achievement milestone, with the winning of the bid for the data management platform (DMP) project of a health investment company. Sunline’s Big data products have entered the medical care and health industry for the first time.

A health investment company is the core leader of the domestic medical care and health industry, and is currently in a critical stage of rapid development. In the process of digital construction, how to best optimize the governance structure through data, promote the efficiency revolution, and create a profit model have become urgent problems to be solved. With the upgrading and adjustment of the company’s strategy, the business side has a strong demand for the association, integration and analysis of data across different lines, and it is imperative to build a unified data management platform (DMP).

The DMP platform is positioned as a one-stop data platform for business, technology, and data management personnel. Different from the development and application of a single product, the platform integrates multiple product functions, including data portal, data service, data supplementary recording, operations and maintenance monitoring, etc., put forward higher requirements for the comprehensive capabilities of the project contractor in the field of big data. Sunline has mature solutions and products in data portal, data service platform, data supplementary recording platform, etc., and has been successfully verified in many bank and non-bank projects:

· Data portal: Bank of Changsha, Bank of Chengdu, Bank of Nanjing, etc.

· Data service platform: Bohai Bank, Shanghai Bank, Minsheng Bank, etc.

· Data supplementary records: Founder Securities, China CITIC Bank, Zhengzhou Bank, etc.

This project is the first “flag” of Sunline’s big data products erected in the medical care and health industry. Sunline will rely on the industry-leading technology and experienced team to build a one-stop data work platform for a health investment company, covering five functional modules of portal management, service management, security management, operation and maintenance management and system management.

At present, it has become the consensus of the more industries to let data flow to create greater value. Based on the leading practice of financial data capabilities, Sunline will actively explore the diversified application of data in more business scenarios, so that the value of data can release development potential for more industries, and fully support the digital transformation of customers.

The Huawei Connect (HC) 2022, Huawei‘s key event on the global ICT calendar centered around announcement of the newest products and solutions, discussion of best practices, and exploration of paths to shared success. This year’s annual APAC flagship event was held in Queen Sirikit National Convention Center from September 19 to 21 with the theme of “Innovative Infrastructure to Unleash Digital” convening thousands of industry stakeholders and partners in the global technology industry to explore the future directions and opportunities for industry digitalization.

At the HC‘s “Leverage Cloud Native 2.0 to Reshape Enterprise Digital Transformation” session, Sunline, represented by Solution Director, Mr. Charley Dou, shared his insights about the key strategies and values of Enterprise Digital Transformation, with in-depth discussion on Core Modernization roadmap and approach, introducing how Sunline’s Cloud Native digital core banking system can help banks realize quick customer acquisition and business volume growth through flexible, agile, scalable and cost efficient infrastructure.

Charley Dou, Solution Director of Sunline presenting at Huawei Connect 2022

As a vital ecological partner of Huawei’s financial industry, Sunline was invited alongside other attending partners to officially launched the Huawei Empower Program, which is intended to help develop a thriving digital ecosystem for global partners. Through this program, Huawei will conduct joint innovation with its partners via OpenLabs, aiming to empower partners with a new framework, plan, and integrated platform to build a talent pool through the Huawei ICT Academy and Huawei Authorized Learning Partner (HALP) programs, with the plan to invest US$300 million in this program to support global partners in the next three years.

Partners on Stage for the launching of Huawei Empower Program

During the three-day event, Sunline showcased its robust Digital Core Banking Solution and joint Cloud Native Digital Loan Solution which adopts an open strategy which supports rapid, dynamic horizontal scaling on both the business and system demands and provides DevOps continuous delivery assembly line to meet the increasingly agile development requirements of financial institutions. Ultimately, making banking much more convenient, while remaining user-friendly, timely, and professional, leading to better customer satisfaction, retention, and loyalty.

Customers Visiting Sunline Booth Showcase

Sunline and Huawei have established multi-level in-depth collaborations with increasing successful implementation cases in the industry. In the future, further collaborations between Sunline and Huawei will bring greater innovation to the market, helping the global financial industry to accelerate their digital transformation.

In recent years, the continuous changes in accounting standards and tax laws have left an important and far-reaching impact on the accounting of the financial industry. In order to cope with the financial innovation and IT transformation of the financial industry, comply with the bank IT development trend of “small core, large periphery”, and improve the operating efficiency of core business systems, banks have growing needs for a new generation general ledger architecture, an optimal solution for a robust general ledger system.

Being adopted by more than 50 banks highlights the advantages of the enterprise-level general ledger system

Since Sunline launched the Enterprise-level General Ledger in 2015, the winning rate, operating rate and delivery completion rate have all ranked first in the industry. At present, Sunline has provided general ledger products and services for more than 50 banking customers including Agricultural Development Bank of China, China Guangfa Bank, Ping An Bank, Hengfeng Bank, etc., in which some of these independent enterprise-level general ledger system have completed the construction.

The biggest feature of Sunline’s general ledger system is the enterprise-level accounting center, which is a new model based on “transactions and accounting separation”, exclusively created by Sunline based on a deep understanding of the bank’s full business chain and IT architecture. Since 2016, more than 30 banks have achieved bank-level accounting middle-office which not only satisfies the management demands of acknowledging that “data from accounting and finance department is the only authoritative certification data in the whole bank”, but also provides unified, accurate and timely accounting processing capabilities for various types of business of the bank through accurate matching of transaction and accounting information in PNL accounts, promoting the realization of business-financial integration.

In addition to the accounting center, Sunline’s transaction-level general ledger system also has other features:

·   Adopting the technical architecture of “distributed technology platform + microservices application”, the system has unique flexibility and scalability that supports front-end and back-end separation, sub-database and sub-table, highly componentized, distributed high-performance batch running, and rapid adaptation of cloud ecosystems, lightweight service monitoring governance and other functions, ensuring that they are relatively independent and self-contained.

·   From the interface with peripheral systems, to the configuration of accounting rules and reporting styles, high configuration can be realized, which is convenient for rapid adaptation to innovation and adjustment, supporting multi-organization, multi-legal, multi-currency, multi-exchange rate types and other expansions, as well as accounting measurement and engine , risk early warning and statistical analysis, etc., ultimately realizing high scalability.

·   Physically, it can be divided into two major databases: basic database – responsible for platform and general ledger business configuration related services, general ledger database – responsible for high-performance processing business with table splitting operations, both use multi-user methods to distinguish databases, high availability deployment guarantee efficient utilization of resources and good system performance.

·   The special interface adapter layer is responsible for the connection with external systems. There are strict standard data interface specifications, including message specifications, data file specifications, transmission specifications, etc. After receiving data from external systems, data cleaning, mapping and convert.

·   More accurate business measurement, separate T+1 entry of price and tax, VAT will be different, loan No. 77 and No. 91 are exempted from tax-free accounting to the detailed level of IOUs. A complete reconciliation mechanism for total points ensures that the accounting information of the whole bank is consistent. Accuracy and authenticity help to solve the problem of uneven total scores in regulatory submissions, unified reverse accounting management, quasi-real-time reports, report traceability, automatic adjustment, audit adjustment and other functions. In addition, there are abundant special scene processing mechanisms, such as historical date accounting adjustment plans, error handling mechanisms, and multiple manual adjustment windows reserved.

·   Standardization of financial data and group management capacity, subsidiary business measurement and accounting capabilities.

Systems in a top city commercial bank and a provincial agricultural credit bureau both went online, forging a weapon for the integration of accounting and finance

Sunline’s general ledger system has been successfully implemented in two banks recently.

For the general ledger project of the top city commercial bank in the country, Sunline is responsible for the development of the general ledger management module, accounting measurement module, accounting engine module, batch scheduling platform, etc., taking only four months to connect more than 10 systems and the solution has officially launched this month. After going online, the bank’s daily transaction data volume has reached 20 million, daily flow measurement has reached more than 8000 TPS, the daily batch time reduced to 20 minutes, and the generated general ledger data record volume has reached 50 million.

For the large general ledger project of the rural provincial credit bureau, Sunline is responsible for the development of two system processing centers for accounting and general ledger management which connected 20 systems. The production and operations were completed in September this year.

Before starting the project, the bank and financial institution faced some accounting difficulties and limitations, which branched from the complicated interaction of the accounting processes, time-consuming changes, siloed legacy module with scattered functions, and coarse data granularity causing retrospective adjustment of subsequent events, identification of related-party transactions, as well as processing of consolidated and offset entries. The legacy accounting systems were not stable enough to handle the rapidly growing transaction volume.

In order to better cope with changes in regulatory policies and significantly ease the pressure on data processing of the legacy core systems, both banks have achieved standardization of accounting and independence of financial final accounts by building a refined, professional and unified general ledger management system. With multi-dimensional accounting information, intelligent total score reconciliation, financial management grouping and other financial goals, the business system and the accounting system can perform efficiently, rapidly respond to customer needs, achieve huge improvement in terms of speed in product innovation, laying a solid foundation in the promotion of the integration between accounting and finance.

Sunline’s general ledger system separates transaction and accounting, so that the core system only focuses on transaction confirmation and customer services, greatly improving online transaction performance. By ensuring the integrity and accuracy of the accounting data, the business rules can be configured with parameters, which can quickly respond to product innovations and support the improvement of the bank’s internal management and future business expansion. Sunline will always commit to technological innovation, helping banks to break through operational bottlenecks, create differentiated core competitive advantages, and achieve rapid development in the digital economy era.

 

On September 14 2022, Mr. Xia Lei, Deputy Mayor of Nanshan District, led representative officers from District Government Inspectors, District Science and Technology Innovation Bureau, District Industry and Information Bureau, District Enterprise Development Service Center, and District Financial Development Service Center to visit Sunline for inspection and guidance work. Sunline’s Executive President Mr. Li Jinsong, Executive Vice President Mr. Zhao Weihong, and Executive Vice President Mr. Sun Shisheng represented the company for key reporting and in-depth exchanges with the district officers on the new ecology of Sunline.

Through the basic understanding of Sunline’s operating conditions, Mr. Xia highly recognizes Sunline’s innovation ability and technical strength, and is very optimistic about the company’s achievements and market planning in China’s innovation-led developments, as well as expressing appreciation for the company’s positive overseas performance and potential development, hoping Sunline could be a strong “bellwether”, actively build a financial technology ecosystem, as well as promote more robust interactions and exchanges between cross-industry enterprises. Mr. Xia stated, “Sunline have the three labels of “software company”, “financial company”, and “technology company”, which can be used to represent an image company in Nanshan District.”

At the same time, Mr. Xia also emphasized that “the government is open”, in view of the problems encountered by Sunline in terms of scale expansion and market development, such as tight office space and short timeline for cross-border visas, the district leaders listened carefully to the feedback on the problems, and the leaders of different competent departments answered them one by one, giving targeted solution suggestions and policy guidance.

The Deputy District Mayor is very sure that Sunline’s practice of taking the lead in reducing wages at the top level to ensure that there are no layoffs and no wage cuts for employees under the “cold winter” of the post-epidemic period resonates with the policy advocated by the country, playing a good role in enterprise demonstration. He said that in the future, a smoother communication mechanism will be established, more guiding policies will be formulated, and enterprises with good performance in lieu with the jurisdiction will be promoted. Lastly, Mr. Xia hopes that Sunline’s ecosystem will grow bigger, and with the continuous enhancement of China’s national strength, the company will become a first-class financial technology enterprise in China and globally.

The recent IDC Fintech Rankings released by IDC Financial Insights, the financial advisory arm of premier global market intelligence and advisory services provider, International Data Corporation (IDC) comprising of a global team of analysts with decades of industry experience, has named the technological backbone of the financial services industry based on their performance in 2021. Sunline has emerged as the “Top 100 Fintech” and “Top Emerging Fintech”, marking a huge milestone for the company to join other top global players in the Fintech industry.

IDC Fintech Rankings is an annual program has been held for 19 years, an authoritative and credible ranking that categorize and evaluate technology providers through strict surveys based on 2021 calendar year revenues from financial institutions which includes banking, insurance, and capital markets. Data is gathered from surveys completed by vendors, as well as original research and market analysis conducted by IDC Financial Insights. The ranking serves as an important reference for effective technology decisions for IT leaders in the financial industry, an industry which IDC Financial Insights forecasts worldwide IT spending to reach USD 590 billion by 2025.

Making into the Top 100 spot in IDC’s Fintech rankings is a huge milestone for the Sunline, validating the company’s commitment to be the leading global banking software and technology services provider. As the global financial technology leader and the Top 1 core banking service provider in China, Sunline continuously lead the development of technologies empowerment and innovation in the financial industry with advanced technologies and rich products.

Leading Banking Software and Technology Services Company, Sunline recently co-hosted Financial Summit Indonesia 2022 with China Unicorn, Huawei at the Westin Jakarta on September 6th 2022. Delegates comprising of IT and finance leaders convened at the financial summit that is centered on capturing the real value from Cloud and Digital Transformation through Core Modernization.

Core modernization is vital as more banks move to cloud platforms and are faced with outdated legacy systems rapidly becoming obsolete in the era of Inclusive Banking and banks that hold on to legacy systems poses great risks of losing their competitive edges. Sunline’s comprehensive digital banking solution, MCore is built to help future-proof banks by realizing operations simplicity and efficiency while maximizing revenue streams. In the era where Cloud and software-as-a-service (SaaS) adoptions are key drivers of future success, Sunline is thinking one step ahead and will roll out its SaaS delivery model in the near future to provide Indonesian banks with a hyper-efficient, elastic scalability adoption alternative.

Sunline is the leading global banking software and technology services provider with more than 6000 employees serving beyond 800 banking and financial institutions worldwide. As the global financial technology leader and the top 1 core banking service provider in China, Sunline leads the development of technologies empowerment and innovation in the financial industry with advanced technologies and rich products with major accolades including IDC China Top 50 Fintech, Global Brand Award Most Innovative Fintech Company, Forbes China 50 Most Innovative Companies, and more. With a solid footprint in Indonesia for more than half a decade, Sunline has helped many top tier banks in the country transformed with its robust core banking solution. A benchmark customer success case reported growth exceeding 100 times in terms of account openings and 80 times in terms of transaction volume since the launching of the new core.

Sunline and strategic partner Huawei who co-hosted the event, demonstrate their support to the concept of Core Modernization through actively investing in the construction of joint solutions to help banks bring new capabilities to the market more quickly and remain top performing. With increasing successful implementation cases in the global financial industry, the continuous collaborations between the two partners will bring greater innovation to the Indonesian market, helping the financial industry in the country to accelerate their Core Modernization journey.

On August 26, Sunline and Alibaba Cloud officially signed a collaboration agreement in Hangzhou and jointly released a new generation cloud-native core solution. Both parties will give full play to their respective resources and technological advantages in banking core, data intelligence and other fields, to lead and promote the implementation of solutions in banking core and other fields together.

Mr. Liu Weiguang, General Manager of Alibaba Cloud Smart New Finance & Internet Business Department, believes that this should be an epoch-making alliance of powerful players in the history of financial technology. In the past five years, Alibaba Cloud and Sunline have made breakthrough progress in their respective fields. The two sides have joined forces and constantly providing values in the strategic transformation projects of many banks.

“In the process of digital upgrade with our financial customers, our two goals will eventually converge, that is, to jointly shape the core of the new platform in the digital age, and create an intelligent data asset platform in the age of cloud! Let us look forward to this new combination of shining debut on the stage of China’s financial digitization and the long winds and waves towards the future of the cloud!”

Mr. Wang Changchun, Chairman of Sunline, said that Sunline has always insisted on independent R&D and innovation for 20 years, and has always led the development trend of core banking systems. “Those who are wise change with the times, and those who are knowledgeable make decisions. Today, in the digital economy era, from the perspectives of digitalization and intelligence to examine the two-way empowerment of financial industry, Sunline believes that distributed + cloud native business architecture has ushered in the inflection point of the times, and the core system of the new generation will take the architecture transformation as the carrier, take the business model and technological innovation as the guide and support the ability to leap to value empowerment to have a higher degree of openness and rapid integration into the ecosystem. In this collaboration, both parties will extract new ideas from leading practices, leverage new models, develop new formats, and jointly drive a new era of digital finance with technological innovation.”

With the agreement, the two parties will carry out an all-rounded, in-depth and multi-form collaboration mainly around core systems, data intelligence and other sub-industry fields. In the field of core banking systems, Alibaba Cloud has a new generation cloud-native core architecture overall solutions with underlying IaaS\PaaS capabilities, core transaction distributed databases, cloud-native application frameworks, etc. while Sunline provides core banking business systems and other related solutions. In the field of data intelligence, Alibaba Cloud has the capabilities of analytical database and data middleware, as well as the overall solution of big data product architecture while Sunline provides financial data business systems and other related solutions. The two parties will jointly create core banking and joint financial data solutions and products.

The new generation cloud-native joint core banking solution released this time has been reconstructed by the two sides of major cloud-native feature technologies such as full distribution, field microservices, application containerization, heterogeneous integrated service grid, and highly available unitization. The joint solution can support the new generation core systems with more flexible business expansion, more reliable off-site multi-activity, more elastic scale scalability as well as more comprehensive operations, maintenance, governance and observability, laying a robust core foundation for the digital transformation of banks.

Sunline is the world’s leading financial technology solution service provider, focusing on driving the development of the industry with technological innovation, empowering financial business reformation with financial technology, and providing financial institutions with integrated financial IT solutions such as core business, digital financial business, big data business and comprehensive value management business, serving nearly 1,000 financial institutions in China and overseas.

Alibaba Cloud is a leading global cloud computing and artificial intelligence technology company, providing services to enterprises, developers, and government agencies in more than 200 countries and regions. After several years of continuous investment, Alibaba Cloud continued to maintain the No.1 position in the overall financial cloud market in 2021, and has served 6 large state-owned commercial banks, 12 joint-stock commercial banks and 90% of listed commercial banks, the vast majority of which are core products and services such as cloud, big data, and databases.