Category: News

High speed charging for Sunline’s Comprehensive Value Management Business with the newly won project for a provincial association as well as the recent project launches for a joint-stock and a rural commercial bank.

With the continuous development of China’s information technology, the economic environment and financial environment are also undergoing profound changes. The wide application of the Internet and Big Data in the financial field has caused the banking industry to face different business risks and competitive pressures. Only by taking precautionary measures, increasing revenue by reducing expenditure, realizing refined management and differentiated operations, as well as accelerating product innovation and service quality improvement, can banks stay in the fight and achieve sustainable development.

Independent research and development have helped the management transformation of many banks

A provincial association has many branches and various business types and with the annual budget being unable to be unified across the banks, the head office is unable to show comprehensive statistics. Therefore, the association has decided to construct a comprehensive budget management system. With many successful cases for banks in the country, and other factors such as the ability to exceed customer expectations, quality of its business teams and the experience of its delivery team, Sunline has won the association’s operating budget management system project in mid-August 2022.

The comprehensive budget management system is independently developed by Sunline based on years of experience in the financial industry, combined with the knowledge on business characteristics and business needs of China’s financial industry. The system can quickly build a complex and complete budget management model based on the actual business management needs of financial enterprises, realizing the whole process of budget management from strategic goal decomposition, budget preparation, budget summary to execution monitoring, budget analysis and assessment. With the features of flexible configuration and convenient use, the system can meet the complex, diverse and personalized needs of the budget management for financial enterprises.

Through the construction of a comprehensive budget management system, Sunline will help the customer summarize the operating budgets of each branch and group in a unified manner, and make a reasonable group budget preparation, which is convenient for the head office to control and perform unified planning. This time, Sunline cooperated with the provincial-level United Credit Union for the first time in the development of the comprehensive budget management system, which is of special significance for Sunline to expand its business into another market in the future.

Winning the project marks a new starting point, while the launch is an important milestone

Sunline’s comprehensive budget management system has been put into production in more than 10 leading city commercial banks, rural commercial banks, and joint-stock banks. Its business scope includes but is not limited to business budget, financial budget, expense budget, capital budget, and capital expenditure budget. It has achieved a good outcome in refined management. Recently, the system has been newly launched in a leading rural commercial bank, and preparing to launch in another joint-stock bank.

After implementing the localized core system with traditional bank database, this leading rural commercial bank took a year to upgrade the comprehensive budget system by means of step-by-step iteration. Focusing on the goal of “tools + application”, it has realized the construction of a complete budget management with sound and clear budget organization and management, value-oriented key indicator system, standardized budget preparation model, shared and efficient information management system and other modules.

Through the analysis of the implemented functional modules of the commercial bank, we can get a glimpse of the realization path of Sunline’s comprehensive budget management system, aiming to provide some ideas and references for banks and financial institutions in need.

Budget forecast

Based on the external economy, market indicators, and inter-bank information, combined with the bank’s development strategy, the rural commercial bank’s various business lines are simulated by scenario assumptions, including forecasting deposit and loan-to-customer interest rates, FTP interest rates, business development structure, and business development quotas and future business scenarios, so as to simulate and predict business profitability.

Annual budget preparation

The overall preparation of the annual budget covers the business, expense, finance, and capital expenditure budgets of the head office budget, branch budgets, and village bank budgets.

Combining with the current management status of the rural commercial bank, we sorted out the annual budget preparation template and budget preparation process suitable for the current situation, realized the online budget preparation and centralized financial approval of the branch, and automated the budget summary, which greatly improved the standardization of the budget preparation process. and efficiency.

In addition, the preparation process realizes the transformation and unity of the business context and the financial context, making it easier to form a consensus on the budget results.

Budget release and control

The functional module of budget release includes functions such as pre-release, final release, release query, etc., which visually displays the expense indicators after the event, helping the rural commercial bank to achieve scientific management and control. In addition, this module opens up the financial system to form a closed-loop model, realizes the linkage between systems, regulates the management and control of financial reimbursement, and achieves pre-forecasting, in-process control, and post-event analysis.

Rolling budget

The combination of rigidity and flexibility in budget management is reflected in the complementarity of rigid annual budgets and flexible rolling budgets. The rigidity of annual budgets is reflected in the setting of performance appraisal benchmarks, the formulation of countermeasures and action plans, and the allocation of resources while the flexibility of rolling budgets is reflected in the orderly coordination of the daily control and the handling of changes will help the rural commercial bank to advance its work in a more standardized and orderly manner.

Budget analysis

The budget analysis function is divided into two aspects: report display and visualization. By realizing the visualization and concreteness of data display, the managers of the bank can have a clear overview of the overall situation at a glance, be clear of the gap between execution and goals and provide support for relevant decision-making.

Budget management workbench

The budget workbench involves functions such as workflow, task flow, approval flow, tasks to be prepared and approved, budget warning, etc. This module can solve the management pain points of the rural commercial bank’s chaotic tasks, achieve efficient connection between subordinate and subordinate businesses, and clarify responsibilities at all levels. Among them, the budget early warning is like a monitoring tool that regularly sends early warnings for delayed and missed work tasks, effectively supervises the progress of the work, and improves the overall work efficiency in an all-rounded way.

Through the construction of the comprehensive budget management system, the financial analysis and decision-making support capabilities of the rural commercial bank’s head office and the preparation and analysis efficiency of the budget management of the whole bank have been comprehensively improved, doubling efficiency improvement of “decision-making” and “management”, thus enhancing the implementation of the bank’s strategy. The ability of landing and scientific management can effectively support its future strategic development and transformation.

Comprehensive budget management is the starting point of the bank’s refined management, and it is an effective strategy for China’s commercial banks to improve their core competitiveness and development benefits. Sunline has always insisted on independent research and development as well as deep understanding in the industry. The excellent market performance is a strong testimony to the continuous progress and the company will continue to use lean innovation to improve the bank’s comprehensive decision-making ability, boost the bank’s stable operation, and finally realize the bank’s strategy.

Recently, under the guidance of the Central Bank, the Beijing Fintech Alliance released the “Financial Application Alliance Chain Technology Privacy Protection Research Report”, and Sunline, as a member of the Alliance and a leading financial technology service provider, was knee deep in the preparation of the report.

In recent years, privacy computing technology has received attention from the industry, and although the application of privacy computing technology in the financial field can ensure data security, there are deficiencies in data confirmation and pricing, trusted depository evidence, and malicious node detection. On the other hand, blockchain establishes a trust foundation between participants through the consensus mechanism, and realizes the authenticity verification and auditing of on-chain data through smart contracts, which has the advantages of being difficult to tamper with and is more traceable.

Will the combination of the two effectively improve the security of data circulation and provide a new technical path for data sharing?

The Data Committee of the Beijing Fintech Alliance organized relevant member units to carry out financial application research on the combination of privacy computing technology and alliance chain, and compiled the “Financial Application Alliance Chain Technology Privacy Protection Research Report”. Sunline, together with more than 20 units such as Industrial and Commercial Bank of China, Bank of Communications, Bank of China, Huawei, Tencent Cloud, etc., jointly participated in the compilation, focusing on the practice cases of alliance chain and privacy computing combined with joint risk control modeling, anti-money laundering, intelligent site selection and whitelist sharing, exploring the application value of cutting-edge technologies in the financial industry.

The report comprehensively introduces the value and privacy protection of data elements in the financial industry, the application of data sharing in the financial industry, the exploration of the combination of privacy computing technology and blockchain, the privacy protection data sharing architecture based on the consortium chain, the application cases and the summary prospects, etc., providing a reference for the application of the consortium chain technology in the privacy protection field of the financial industry.

In the exploration and practice of alliance chain and privacy computing technology, Sunline adheres to the concept of professionalism and innovation as the foundation of its establishment, and carries out multiple business areas such as middle-office, inter-agency reconciliation, risk prevention and control, and regulatory compliance in the provident fund industry based on Hyperledger Fabric, FISCO-BCOS, enterprise Ethereum Quorum and other well-known blockchain platforms in China and abroad to develop a universal chain adaptation engine, creating an anti-money laundering application based on alliance chain technology and other technical solutions, leading the innovative development of anti-money laundering business of regulatory authorities and financial institutions, and solving the problems of difficulty in trust transmission, difficulty in trust collaboration and high cost of regulatory audit by:

1.              Introduction of the alliance chain technology through the adaptation and docking of open source blockchain platforms such as Hyperledger Fabric, FISCO-BCOS, enterprise Ethereum Quorum, etc., to realize the digitization, automation and intelligence of anti-money laundering regulatory rules.

2.              Using smart contracts to complete real-time supervision and data sharing, and promote the further improvement of anti-money laundering prevention, in-process monitoring and post-event disposal of financial institutions

Sunline has nearly 20 years of practical experience in consulting services, product research and development in the field of big data, and participated in the compilation of the “Financial Application Alliance Chain Technology Privacy Protection Research Report”, which represents the company’s technical strength in big data and has been recognized by the industry. In the future, Sunline will give full play to its own advantages, accelerate the technological innovation of data elements, actively explore the best path to achieve the balance between data application and data security, and fully support the digital transformation of financial institutions!

Sunline’s financial interbank business has been very active in the top joint-stock banks market, and recently won projects for a joint-stock bank’s intelligent market risk management platform and its financial interbank business digital operations. With innovative solutions and leading technological advantages, the solution will help the bank improve their risk management and trading capabilities, promote digital transformation of its interbank financial services, as well as prevent and resolve financial risks, with the ultimate aim of deepening financial reformation.

In the era of new technology and economy driven by financial opening, technological progress and continuous waves of digitalization, the traditional development model of the banking industry is undergoing subversive changes. In recent years, with the rise and vigorous development of interbank fund business, major commercial banks have taken actions accordingly to comprehensively promote the digital transformation of interbank fund business by building an intelligent fund system platform, empowering the development of business front, middle and back-office, and boosting financial interbank business. Business has become an important engine supporting the future development of financial institutions.

Relying on two decades of practices and experience in the financial field, Sunline has a deep insight in the development trend of the digital transformation of capital business, focusing on improving the two core capabilities – risk and transaction, helping customers to activate market potential. The professional application of system planning, transaction integration, risk quantification, and intelligent operation continues to improve, and can provide customers with comprehensive, end-to-end capital business solutions.

Winning two consecutive projects for a joint-stock bank this time marks that Sunline has reached a new level in the development of its interbank fund business, and has become a trusted partner for the industry’s leading interbank fund transaction and risk management platform constructions.

Intelligent market risk management platform project

The market risk management platform integrates a unified risk control platform for financial market business, an intelligent risk data analysis and key risk control indicator measurement platform. The joint-stock bank aims to achieve unified management in capital measurement models through this platform, and to increase the bank’s ability to interpret, analyze and price business capital.

For this project, Sunline will empower the joint-stock bank in terms of market risk management, counterparty credit risk, hedging business management, capital measurement and model management based on the construction of five functional modules of approval, early warning, monitoring, analysis and control. The project will improve the banks risk management platform in all aspects, fully meeting the needs of different data users to call, read and analyze risk data, ultimately improving the efficiency and value of data use:

• for the management by providing a multi-dimensional, fast, accurate and intuitive management dashboard to strongly support management decisions.

• for front-end users by providing full-dimensional and richer transaction reference information to facilitate transaction decision-making and rational resource allocation.

• for middle-office risk analysts by providing functions such as limit monitoring and tracking, risk attribution analysis, business risk analysis, etc., to get rid of basic work such as data collation.

Financial interbank business digital operations project

The financial interbank business management platform is an important system supporting the business development of the bank’s interbank department. Under the background of comprehensive digital operation, the system urgently needs to build a digital operation module, improve data quality, as well as strengthen financial interbank business risk monitoring, business operation analysis and decision-making capabilities.

Sunline will combine the digital transformation needs of the joint-stock bank and use digital technology to reshape the bank’s financial interbank business operations and promote the continuous deepening of a joint-stock bank through the construction of five functional modules: business verification, profit and loss creation, forecasting and planning, risk monitoring, and auxiliary tools. The comprehensive digital operations will be able to:

• refine data, refine reports, form a management perspective, and accurately grasp key management data in real time.

• calculate and count transactions one by one, produce daily, weekly, monthly and quarterly reports for management, and send them to relevant stakeholders in a timely manner.

• supports query and export of various regulatory reports, provides custom report functions, and realize quick handle of temporary needs in a timely manner.

In the future, Sunline will continue to lead the development path of joint-stock banks by innovation, relying on its original and independent technical advantages, and export more professional and high-quality financial solutions, products and digital technical service capabilities to help financial institutions fully release their business potential, igniting the “business engine” of financial digital transformation!

PT Sunline Master International (Sunline), leading banking software and technology services provider has announced a collaboration with PT Anabatic Solusi Digital (Anabatic), a subsidiary of PT Anabatic Digital Raya and sub-holding of PT Anabatic Technologies Tbk, to support banks in Indonesia accelerate digital transformation and optimize business processes. With this partnership, Sunline and Anabatic will give full play to their respective advantages and use their technical strengths and resources to bring richer digital financial services to Indonesia.

Signing ceremony of the Alliance Agreement between Sunline and Anabatic

A Bank Indonesia’s report this year estimates that digital banking transactions will experience a significant increase in 2022, with an increase from Rp. 40,000 trillion in 2021 to Rp. 48,000 trillion in 2022. In line with the report, Nugraha Santosa, President Director of PT Anabatic Solusi Digital stated that, “Digital transformation is a must for banks and they need to increase the pace of innovation facing the rapidly evolving customer behaviours and expectations in the increasingly digital world. Hence, the market space for digital transformation in Indonesia’s banking industry is huge.” Digitalization has created various new opportunities to increase financial inclusion, and is a priority agenda of Indonesia’s G20 Presidency this year. In the face of a rapidly changing market environment, banks need to adjust flexibly and adapt quickly, and digital transformation remained an important trend in the Indonesian banking industry.

Sunline is a global leading financial technology service provider that empowers the financial industry with advanced technology and rich products, leading the technology development and helping customers quickly achieve business innovation, optimize user experience, and accelerate digital transformation and is has been named as Forbes China Top 100 Potential Enterprises in 2017 and was the first Chinese financial technology service provider to be featured in IDC’s Asia Pacific Financial Insights report on game changers in core modernization. Anabatic is one of Indonesia’s trusted leading IT companies that provide advanced solutions of international alliances to the local Financial Industry. Anabatic’s deep understanding of the local Financial Institutions, Banking Businesses and Indonesian Syariah Banking Practices has led to numerous successful implementations for Conventional Core Banking, Islamic Banking, and Digital Banking cases. 

Commenting on the partnership, Ruby Zhou, President of Sunline’s Overseas Business said, “Sunline is honoured to collaborate with Anabatic. 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 Indonesian Banks to provide higher quality innovative financial services, be more prepared to face the competitive market and further propel the Digital Transformation of the Financial Industry in Indonesia.”

Santosa also added, “With the deep industry experience and leading technical strength of Sunline and Analytical in providing financial solutions, both parties will create strong synergies to better support the development of the banks and financial institutions in the country. This strong collaboration will transform customer’s business, technology, and operation to meet demand of the new economy market as well as seize the opportunity of the huge digital economy in Indonesia.”

This strategic partnership will not only accelerate the pace of digital transformation in Indonesian Banks, but will also drive more excellent digital experiences for the banks, helping them maximize business value and redefine the next generation financial services through the strength of the alliance.

Recently, the new generation core system project of Chongqing Three Gorges Bank was successfully put into production, which is another perfect application of Sunline V8 Core System in a city commercial bank, marking a starting point for the core transformation in Chongqing’s banking industry.

Revolutionizing the old, transforming to the new

At present, the increasing volatility of the international financial market with China’s economic and financial situation being most severe, has caused profound changes in the policy environment facing the banking industry. In addition, the booming developments in digital finance and big data has brought upon more challenges to banks.

Chongqing Three Gorges Bank has always adhered to the development path towards “differentiation, specialization, and refinement”. Since its establishment in 2008, the business scale of the Bank has grown rapidly, its profitability has continued to increase, and its comprehensive strength has been significantly improved. By the end of 2021, the total assets of Chongqing Three Gorges Bank was reported to be nearly 250 billion.

In order to comply with the trend of the digital era, continue to cultivate core competitiveness, and support the Bank’s strategic planning needs towards high-quality development, Chongqing Three Gorges Bank decided to start the construction of new core system, aiming to build an advanced, compatible, stable and forward-looking core. With a unique comprehensive system architecture, Sunline was chosen as the preferred partner for the construction of the Bank’s new core by virtue of its mature system, rich implementation experience and senior delivery team.

Towards quality and efficiency enhancements

The new-generation core project for Chongqing Three Gorges Bank includes modules such as deposit, public, accounting settlement, interface, and migration, with the needs to develop and connect 56 systems. Before the project was launched, the project team went through 9 rounds of data migration, 7 rounds of system integration tests, 6 rounds of business acceptance tests, and 6 rounds of production drills, in which the team has been solving problems, making up for shortcomings, and controlling risks.

The new-generation core system adopts a distributed and microservices based architecture as a whole. After the successful launch, excellent performance indicators were reported with significant faster response speed, shortened average time consumption, and increased number of daily transactions. The advantages of the new core system are obvious:

·       “One core” to create the best customer experience

The new-generation core system builds a unified data standard, product management, account management, and customer view that realizes differentiated pricing, multi-channel account integration, centralized payment and deduction, and one-stop comprehensive signing for banks, providing customers with more humanized, diversified, convenient and efficient services.

·       “Two major technological innovations” to improve system performance

The underlying architecture of a distributed and microservices core greatly improves system performance, achieving 24×7 uninterrupted operation for banks. An open platform reduces the degree of coupling, build a competence center, comprehensively improving the R&D efficiency and system iteration rate.

·       “Three breakthroughs” that diversifies Digital Financial Services

Realize centralized operations and maintenance management: the interconnection of the legacy core, Three Gorges Payment, and large-value deposit receipt system; key businesses such as limit management and account control are centrally managed and controlled; and business risks are monitored in real-time.

Realize scenario-based process reengineering: establishing a unified customer view and 360° profile; reorganizing and recreating scenario-based processes for cash/voucher transfer, account opening, card and number replacement, customer and account information inquiry; and achieving a one-stop, unified signing of multi-channel and diversified services conducive to group fund management.

Online and offline integration: to adopt parameter configuration and factory processing mode to achieve centralized and differentiated release of online products.

The new core strengthens the interconnection between online channels and outlet built a counter response mechanism for online businesses such as open accounts, deposit certificates, and large-amount cash reservations; improves the business types of smart counters and ensure the unification with counter business rules and procedures; and enriches the business functions of electronic channels such as Three Gorges Payment, Mobile Banking, and Internet Banking.

The completion of the new-generation core system group project supports all the existing business functions and technical requirements of Chongqing Three Gorges Bank with the strategic purpose of modeling, componentization, internal and external integration, risk control systemization, business processization, and management informatization.

As Sunline’s the flagship product, the core system helps banks promote the process of digital transformation through technological updates and achieve high-quality financial development. From technology support to technology leadership, Sunline’s pursuit of innovation has no end, moving forward along the value direction of the banking industry through the continuous relay points of each project.

In July 2022, the first mainframe migration project for a large state-owned bank’s credit card distribute core was successfully put into production despite the severe epidemic situation. This project not only marks another pioneering success with unprecedented influence in the industry and gains positive regulatory attentions because of its originality, but also puts forth higher benchmarking standards and stricter requirements for the industry peers. The superior implementation and delivery by Sunline have landed yet another best practice in the large state-owned banks market, once again displaying strong verification of the company’s leading position in the financial IT field and setting another milestone in innovation-led transformation.

Setting the path to empower the transformation of large banks under the innovation-led trend

In recent years, the wave of digitization and credit innovation has swept across various fields, and the core system of China’s bank credit card business has entered a new round of localization and upgrading, with large state-owned banks taking the lead in opening the road to credit card core localization.

While legacy cores are not only expensive, the use of complex business models and redundant account structures limit the improvements of management capabilities and customer experiences that comes with the need of rapid business innovation and neither the bank’s credit card business development of “double-100 million” needs. After the system reconstruction, the overall operating cost for the bank’s credit card business has been reduced by 40% with a credit card core system supporting full-featured integration in the country and abroad. The architecture integrates the advantages of cloud-native, unitized and distributed databases, and componentized applications greatly improves transaction processing, data-driven business design, transaction-level sub-account structure, etc., truly realizing customer-oriented services and management requirements, creating China’s first benchmark for a secure and controllable large state-owned bank’s credit card core project.

Two years to build the world’s leading system with hundreds of millions of customers

The bank’s new credit card core project includes four modules: authorization, card issuance, accounting, and quota, among which Sunline is mainly responsible for authorization and card issuance. Sunline’s project team commenced in August 2020, and the technology launch was completed in October 2021. The new core system carries an average daily volume of 400 million transactions with the peak transaction volume supporting more than 30,000 transactions per second. The batch running time at night is less than 2 hours. Compared to the legacy system, the new core has doubled the capacity and recorded leading performances in all aspects in the industry.

The new-generation credit card core system leads in several aspects:

·     Domestic distributed cloud platform deployment, covering the Paas components of the technology platform with unitized, distributed, and microservices based architecture to establish various independent and mutually collaborative competence centers fully support the rapid deployment of business and meet the needs of the high concurrent customer transactional demands, greatly enhancing the credit card business operations and product innovation capabilities of the large state-owned bank.

·     Runs on the domestic distributed database, OceanBase, which greatly improves the data processing efficiency and storage capacity in line with the requirements of innovation-led transformation which drives security and controllability in the industry.

·     Adopting multi-tenant application design through the combination of logical and physical isolation, realizing strong data isolation and effectively controlling the impact radius caused by database abnormalities.

·     Deployment architecture adopts the modes of dual locations, three centers and five copies to realize geography redundancy mode with same-city active-active disaster recovery, ensuring high data availability and greatly improving system disaster tolerance.

·     Adopt agile delivery model in project management and realize rapid iteration through DevOps pipeline.

Sharing successes by overcoming difficulties and ensuring progress

Sunline’s project team has a peak of nearly 80 people, who jointly practice the values and development concept of sharing successes with customers. Sunline focuses on customer need with continuous innovation and value creation. The bank also provides a platform for Sunline to grow and learn, and both parties collaborated to be the co-builders of a secure and controllable system.

The first batch went through ten rounds of data migration, two sandbox exercises, and five rounds of production follow-ups, but the day of the launch was still full of tension and anxiety. Sunline had worked side by side with all departments of the bank for nearly 30 hours, and successfully completed the first batch of production with steadfast efforts and strong technical capabilities. This production is a phased victory and the beginning of another chapter.

After two months of closure due to outbreak management, the team immediately worked on the second batch of production and launch after a short period of adjustment. Thanks to the previous rounds of drills and refined management, the data migration was carried out in an orderly manner, the platform and applications were running stably and the internal transaction tests were also carried out smoothly, marking successful completion of the second batch of production.

The data volume to go live for the third batch was 30 times that of the second, and 9000 times of the first. From the perspective of data migration and applicability, the exponentially increasing data volume indicates a biggest test. On the basis of the first two rounds, the third batch of production was completed 2 hours earlier than the original opening time, which was extremely rare in the industry.

After the president in charge of the bank announced the success of the production, two years of hard work with more than 30 rounds of drills, more than a dozen active-active switching drills, and multiple rounds of production stress tests have finally paid off. Those tough times also turned into heartwarming moments.

During the two years, the project team ensured the best progress of the project as the primary mission under different difficulties. In order to ensure the smooth progress of project production during Chinese New Year, some had sacrificed going home for the Spring Festival for two years. In order to support the production during the closed period under the severe epidemic, three project teams were urgently arranged to stay in the bank for support and respond to the arrangements of the bank. On behalf of the entire project team, they have fought on the front line to ensure the orderly and smooth development of the production site. The project team’s down-to-earth working style and overcoming of all difficulties have been highly recognized in the industry.

The person in charge for Sunline’s Credit Card Business said: “There will be times when the bank will replace foreign credit card system that has occupied the large domestic bank market for 20 years. It is a day for Chinese Credit Card Business to be proud, and it is also an impetus for us to move forward and enter the overseas card market. It is the beginning of a glorious time for us”.

This project is a major breakthrough in the credit card core innovation for large state-owned banks in China. Sunline has made yet another great achievement in credit innovation. In the process of realizing independence and controllability for more domestic banks, Sunline will continue to lead the development direction of China’s financial industry with professionalism, innovation, hard work and courage.

Recently, Sunline has successively won the project for a ten-million retail credit system for a joint-stock bank as well as the credit management system projects for two provincial rural credit companies, realizing the transformation of credit products digitization, business process, business model innovation and scenario-based service upgrade with product innovation and risk control enhancements.

The banking industry is an industry with high degree of informatization, hence, to improve product launch efficiency, customer experience, precision marketing, and business scenarios, the system’s IT architecture must be flexible and open. Recently, most banks have realized that the construction of a credit system is no longer just the functional construction of a silo system, but the digital design of the whole process of industry technology that is driven by business, combined with domain modeling, supports efficient implementation technology, built on an enterprise-level architecture in the credit field and is able to realize the flexible integration of steady state and sensitive state through refined layered design. The powerful self-controllable distributed microservices platform should not only quickly realizes differentiated functional requirements, but also forms the bank’s own business assets throughout the process, comprehensively improving the enterprise-level capabilities of business and technology to meet the differentiated needs of bank customers.

Sunline has been focusing on the credit field for 16 years. The new generation credit business platform is built on enterprise-level “competence center + microservices + componentization” architecture design, which is the next generation solution to banking business. Sunline’s platform is the optimal comprehensive scenario-based solution with rapid product innovation, business process management, highly intelligence, flexible architecture, as well as data, automation and digitization first, providing the cornerstone to support the long-term sustainable development of the credit business.

• Through the enterprise architecture modeling method, the requirements of the business line are abstracted into various business components with capabilities covering all the business rules of the entire lifecycle of the credit business and are segmented into multiple groups according to the consideration of the reusability of the credit business functions.

• The concept of the platform design is to quickly respond to the needs of various business lines, and at the same time, being able to coordinate with related systems in different sub-sectors in the industry and match business components according to the business rules in different stages of the entire life cycle of specific credit products to achieve credit the creation of products.

• Credit business products are embedded into rich application scenarios through the orchestration of business process, transaction process and approval process.

• Relying on an independent, secure, and reliable distributed architecture, the flexible business modeling system drives the splitting of microservices, realizing the combination of stable business development and the openness of the digital economy.

Based on years of experience in the industry, Sunline fully supports banks to provide more reasonable, practical and innovative integrated credit services through the two-way cooperation of business and technology, helping banks wave through the digital and intelligent future.

The Huawei Intelligent Finance Summit (HIFS) 2022, Huawei’s annual flagship event held in Marina Bay Sands, Singapore from July 20 to 22 with the theme of “Shaping Smarter, Greener Finance” convened hundreds of leading figures, KOLs, academic experts, and partners in the global financial industry to discuss how to shape green and digital finance in light of the future development trend of the financial industry.

At the HIFS “Building a Trusted and Innovative Cloud for the Financial Industry” sub-forum, Sunline, represented by Chief Strategy Officer, Mr. Matthew Chen, shared his insights about how banks can transform their core banking from Monolithic to DeFi, with in-depth discussion on redefining Banking 4.0 and introducing how banks can switch to a new core to realize quick customer acquisition and business volume increase.

Matthew Chen, Chief Strategy Officer of Sunline presenting at HIFS 2022

As a vital ecological partner of Huawei’s financial industry, apart from sharing of insights during the summit, Sunline and Huawei also officially launched their joint cloud native digital loan solution. Built on Huawei Cloud, the solution adopts the enterprise-level microservices banking framework EDSP released by Sunline in 2020, creating a solution with novel experience, capabilities, speed, architecture and foundation.

The launching of Sunline and Huawei Joint Cloud Native Digital Loan Solution

At the cornerstones of national economies, financial institutions have an increasing need to realize contactless, digital, and online financial services, especially in the current post-pandemic situation. However, global banks are facing similar challenges in the course of their digital transformation journey with huge costs and risks to replace their legacy systems, limited budget and uncertain return on investment associated with transformation, lack of open business and technology experience, increasingly fierce competitions, and increasing demands of contactless service driven by the pandemic, etc., hence it is imperative to have a solution that can respond rapidly to the urgent need and requirements from both FIs and their customers in terms of digital financial services.

Sunline and Huawei Joint Cloud Native Digital Loan Solution adopts an open strategy, allowing financial institutions to launch a wide range of contactless services, such as online loan product campaign, customer E-KYC, risk assessment, fund disbursement, and post-loan processing. The solution 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.

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.

 

Recently, the The Ministry of Industry and Information Technology of the People’s Republic of China and the People’s Government of Guangdong Province jointly held the “2022 China Digital Economy Innovation and Development Conference”. During the conference, the China Electronic Information Industry Association hosted the “Enterprise Digital Transformation Leading Manufacturing High-quality Development Forum” and Gao Sumei, Secretary-General of the association announced the first batch of the “100 Excellent Digital Transformation Cases in 2022″. Sunline’s distributed core business solutions, data asset management solutions and data lake solutions were enlisted.

In order to implement the relevant national decision-making and deployment, the forum has launched a collection of digital transformation solutions and application cases. This work has received many positive responses and participation from the majority of enterprises, and has been reviewed by experts from the dimensions of technological advancement, typicality, and promotion value. To date, there were 102 excellent cases launched, fully demonstrating the ability and level of China’s information system construction and service enterprises.

Distributed core banking solutions

Relying on the long-term accumulated experience in the field of core banking systems, Sunline uses the industry’s advanced self-developed technologies to build a new generation “microservices + unitized” architecture to meet current requirements of the banks as well as their explosive growth needs for future businesses development. At present, the system has been successfully launched and operated stably in nearly 100 banks including policy banks, state-owned banks, joint-stock commercial banks, and city commercial banks, setting quite a number of industry benchmarks for the digital transformation of banking institutions in the country.

Data asset management solutions

In the context of the in-depth advancement of digital transformation, strengthening data management and releasing the value of data elements has become a fundamental work that the financial industry attaches great importance to. Sunline has begun to deploy big data business as early as 2015, always driven by market demand to continuously carry out technological innovation, versions upgrading and solutions transformation, which comprehensively covers strategic planning, management mechanism consultation, implementation and product services, etc. At the same time, the automated and intelligent design minimizes manual workload, helping financial institutions carry out data asset management continuously and effectively. At present, the program has provided more than 90 financial customers with consultion, implementation, products and other services.

Data lake solutions

The highlight of Sunline’s data lake solution is that it has opened up the data assets of enterprises in different fields such as theme models, data interfaces, data labels, data indicators, third-party data, behavioral data, etc., and subsequently analyzed and processed through big data platform, and promoted through reporting platform, etc. Various data services help account managers to understand customers’ asset information and behavior preferences in an all-rounded way, effectively promoting marketing and risk control identification.

At present, the digital transformation and upgrading of thousands of industries has pressed been accelerated. Sunline will continue to focus on the financial field, insist on independent research and development, and consolidate the professional innovation ability of various products and services to be a leader and powerful partner for financial institutions in their digital transformation journey.

Recently, the seventh phase of Penghua Fund’s Big Data TA System Construction Project was successfully launched, which not only further optimized the company’s business continuity, but also realized connections to the new ETF-TA system, making the big data TA system more comprehensive. As the industry’s first registration system based on big data architecture, the big data TA system created by Penghua Fund and Sunline took the lead in completing the application practice of big data in the asset management industry and even the core business of the industry. The breakout from the limitation to the legacy data center applications provides a strong proof, demonstrating positive effects towards the banking industry, securities industry, insurance industry, as well as asset management industry.

Those who adapt to changes will survive, and those who continuously innovate will be evergreen

In 2021, when the total scale of Penghua Fund exceeded one trillion, the company wrote this on their official WeChat page: “For public funds, the really important question is not whether the industry has opportunities, but can we seize the opportunities’”

Back in 2017, the rapid expansion of China’s asset management market, the partial equilibrium of the industry that traditional public funds have been maintained for more than two decades were gradually being broken. As one of the top ten asset management companies, Penghua Fund needed to find a way to sail the digital transformation journey, as well as adopt innovation and changes that is in line with the development of large asset management to achieve breakthroughs in response to the situation. In order to support sustainable developments of their business strategy, Penghua Fund officially launched the construction project of their next-generation TA system in compliance with the policy and market trend in 2018.

Penghua Fund joins hands with Sunline to start the innovative exploration

The open-end fund registration and transfer (TA) system covers all aspects of the fund transaction business with functions such as account opening, asset registration, and income distribution. It is the most important core system for asset management companies. However, with the rapid expansion of the digital platform, which has brought hundreds of millions of users onboard and tens of millions of transactions, the structure and performance of the legacy TA system faces many challenges including low clearing efficiency and difficulties in supporting the rapid development of the business. As a result of siloed TA systems, accounts data cannot be unified and personalized demand response was slow.

Outdated and scattered TA systems have hindered business development, and there were no mature products on the market that can be directly reused. For Sunline which has been deeply involved in the core system field of the financial industry for many years, the company have always adopted self-innovation in our genetics. Hence, Sunline is undoubtedly a powerful partner for this project. On this thorny road that has no previous experience to learn from, Sunline and Penghua Fund have begun to work together in the innovation and exploration journey.

Big Data TA System has now become the industry benchmark

In 2019, the big data TA system jointly created by Sunline and Penghua Fund was officially launched. This is the industry’s first registration system based on the big data architecture. The system innovatively adopts a hybrid big data and microservices architecture, which can support high-concurrency real-time digital access requirements and complete the end-of-day clearing business of massive data, integrating various issues faced by TA systems such as information silos and business bottlenecks. A set of systems has been implemented to support all wealth management channel businesses, and can cooperate with the specific business scenarios of the channels to support the comprehensive development of personalized business.

The first advanced and hybrid big data and microservices architecture

Introducing big data technology to build a clearing core provides high-throughput application data access to greatly improve efficiency in rapid clearing of massive data and meet the needs of rapid expansion of Penghua Fund’s business while the adopting microservices architecture and decomposing huge monolithic applications into multiple services solves the issues with application complexity while introduction of Spring framework quickly builds monolithic applications and expand into distributed applications by cooperating with SpringCloud to cope with a large number of concurrent applications data request

Fully empowering business innovation and development

The big data TA system has successfully withstood the test of various business scenarios since its launch three years ago. It supports dozens of cooperation channels, 100 million customers and 10 million transaction business of Penghua Fund, and continues to provide stable and efficient services for investors through:

·     A set of big data TA system supporting more than 30 balance wealth management channel businesses and refined management of channels to achieve sub-channel clearing without affecting each other, greatly improving the experience of investors.

·     Full coverage of all business scenarios of treasury TA. In addition to TA standard services such as subscription, general redemption, and quick redemption, it can cooperate with specific business scenarios of the channel to support personalized needs.

·     Constructing a unified operation digital background, supporting offline business processes to be fully online, reducing operation risks and improving operation management level, and opening the road to the construction of digital operations.

·     Breaking out of the traditional product-centric business model and turning to user-centric, creating values through user behavior and providing users with financial services in a scenario-based and embedded manner.

Leading the industry risk management with autonomy and control

The Big Data TA System Project has practiced the concept of autonomy and controllability since its construction. Based on valuable experience accumulated in the field of practice, Sunline helps the project to migrate core business from Oracle database to an open source-based big data platform to actively responds to the national independent and controllable strategy at the level of application software construction.

In addition, the success of Penghua Fund’s big data TA system project has also filled the gap in the market where there are few core business systems implemented using big data, providing a strong proof for big data technology to get rid of the shackles of data center applications. The promotion of data technology has played a good demonstration effect, and many leading fund companies have jumped the bandwagon.

The project lasted 4 years, from commencement of the first phase to the launching of the current phase 7, Penghua Fund has joined hands with Sunline along the way, opening a new chapter in the construction of the TA system in the domestic asset management industry. In the future, both parties will continue to collaborate to achieve more sharing of successes and driving the transformation of the financial industry!