Category: News

On December 2, IBM and Atos have organized a close-door cross-boundary wealth management luncheon to help banks discover the cutting-edge technologies and digital transformation practices to drive more business in line with the “Cross Border Wealth Connect Program“ announced by the Hong Kong Government earlier this year. Sunline was invited to share invaluable information and insights on Digital Channels.

Fintechs are reshaping the financial industry, bringing not only challenges but also countless opportunities. Many global banks are already embracing digital transformation and realize the use of Fintechs to improve their businesses and services. Strong scalability and quick responses play an important role in the cross-border wealth management business, enabling digital business scenarios and allowing the flexibility for diverse needs of banks in a vast variety of financial scenarios.

At the Cross-Boundary Wealth Management Connect Luncheon, Matthew Chen, CEO of Sunline Holding, represented Sunline to present his insights on the Platform Ecology Trifecta. In his presentation, Matthew spoke more in-depth about Sunline’s Open Banking Platform, Finline, underscoring collaboration as the key for banks to stay ahead in the GBA program. Matthew also highlighted how Finline can create maximum value for banks by connecting various resources and providing the platform ecology trifecta for them to seamlessly and securely achieve B-to-B-to-C.

In line with our vision to be a global leader in financial technology, Sunline is continuously reinventing our solutions by integrating the latest technology trends with industry best practices to provide comprehensive and secure financial solutions. Sunline will continue to embark on our journey to empower the businesses of financial institutions and reinvigorate the financial industry.  

Over 250 world-renowned speakers, regulators, and industry players who are looking to “Scale the Fintech Future Together” convened physically and virtually at the Hong Kong Fintech Week (HKFW 2021) from November 1 to 5, discussing big picture transformation topics, revolutionizing finance on a global scale and Hong Kong’s role in these worldwide conversations through a broad mix of speaking events, demos, panels, masterclasses, and networking events. HKFW 2021 showcased Hong Kong’s unique position as the ideal hub for fintechs to accelerate and scale their business opportunities in Hong Kong and beyond. 

Matthew Chen, CEO of Sunline Holding, represented Sunline to present his insights about Open Banking in a panel discussion and masterclass sessions. In the Vision Channel panel discussion with Andy Nam, Standard Chartered Bank’s Chief Information Officer of Asia, and moderated by Rachel Freeman, Chief Growth Officer of Tyme, Open Banking in the Asia Pacific Region was conversed in terms of how businesses can scale through Open Banking, why is there a growing demand to connect ecosystem players and how Open Banking can support financial literacy, especially outside of Hong Kong and Singapore.

In his Masterclass video, Matthew spoke more in-depth about Sunline’s Open Banking Platform, Finline, underscoring collaboration as the key for banks to stay relevant in the Banking 4.0 era, where banking is anytime, anywhere. Sharing a few benchmarks customer cases globally, Matthew highlighted how Finline can create maximum value for banks by connecting various resources and providing the platform ecology trifecta for them to seamlessly and securely achieve B-to-B-to-C.

In line with our vision to be a global leader in financial technology, Sunline is continuously reinventing its solutions by integrating the latest technology trends with industry best practices to provide comprehensive and secure financial solutions. Sunline will continue to embark on our journey to empower the businesses of financial institutions and reinvigorate the financial industry.  

From November 3 to 4, Tencent’s third Digital Ecosystem Summit (DES 2021) was staged in Wuhan with the theme of “Integration of Digital and Reality, Thriving New Opportunities”, gathering more than 300 industry leaders and experts to discuss industrial digital strategies and progresses.

During the summit, Tencent also announced its 2021 Outstanding Partner Awards, and Sunline was presented Tencent Cloud Database Outstanding Collaboration Contribution Award for its efficient integration of distributed core systems to Tencent Cloud Database with the creation of benchmark customer cases in the banking industry.

Sunline and Tencent have joined forces in the field of financial technology, launching the Sunline Distributed Core System and Tencent TDSQL joint solution which has been successively put into production for WeBank and Zhangjiagang Rural Commercial Bank. Both parties also jointly pioneered the credit business of China’s banking industry and created many benchmark projects, including Ping An Bank’s credit card core system and Kunshan Rural Commercial Bank’s core system. In recent years, both Sunline and Tencent have continued to polish the joint solutions to accelerate digital transformation for more domestic banks.

Sunline introduced the advantages of Sunline’s distributed core and Tencent TDSQL joint solution to the participants in detail. Sunline’s core system adopts advanced microservice distributed framework technology and introduced industry-leading unitization. With a distributed design concept, each microservice center becomes an independent self-sustaining entity with external services and each corresponds to an independent TDSQL database. In the financial test scenario, the five major types of businesses i.e., liabilities, assets, operations, bank cards, and batches were verified, involving more than1000 transactions and batch services, achieving good processing capabilities as well as efficiency and 100% accuracy. Through the scalability of the underlying server and database, good processing performance values and linear growth capabilities can be realized, providing a strong guarantee to the data security of the bank’s core business system.

In the future, with the deepening of the cooperation between the two parties, more efficient and secure distributed core solutions can be developed for the market to inject strong impetus into the in-depth digital transformation of financial customers.

On November 4, InvestHK and 36KR collaboratively organized Let’s Chuhai Club in Shenzhen as part of the Hong Kong Fintech Week. Sunline, as the first domestic financial technology leader to venture overseas, was invited to participate in the conference to discuss the opportunities and challenges for the financial technology vendors in Hong Kong.

As the world’s top financial center, Hong Kong has become a necessary spot for Chinese enterprises going overseas. Let’s Chuhai Club invites fintech companies from Hong Kong and Mainland to participate, promoting interactions among business decision-makers, sharing insights and practical experiences on Hong Kong’s financial market, and discussing how Chinese companies can achieve globalization starting in Hong Kong.

Sunline has deployed overseas markets in 2016, with Hong Kong as its first station. After 5 years of development, the company has now covered more than 10 countries and regions, serving more than 20 banking customers outside of China. Sunline is the first vendor to successfully implement China’s core banking system in a major Southeast Asian bank and is the first to integrate China’s advanced Digital Banking concept overseas.

During the conference, Vice President of Sunline Overseas Business, Zhou Hongyu shared his insights on “How Chinese Enterprises Seize Hong Kong’s Market Opportunities and How to Use Hong Kong as a Springboard to Expand Globally”. Zhou expressed that companies in China already have the ability and conditions to go overseas, and Hong Kong is a globally recognized financial center that can serve as a springboard for these companies seeking overseas development. However, there are both opportunities and challenges going overseas. He believes that companies must first make decisions about going overseas with market insights analysis, making decisions before acting. Secondly, they must actively integrate into the local ecosystem and even build their own ecosystem to get twice the result with half the effort.

Zhou Hongyu, Vice President of Sunline Overseas Business (first from left)

At present, Sunline has completed the construction of localized products and stationed teams overseas. In the future, Sunline will continue to explore future development in the direction of financial technology, and radiate China’s leading financial technology model to a wider overseas market, continuously promoting rapid digital transformation of the global financial industry.

Recently, CCID Consulting released the 2021 Top 50 China Financial Digital Transformation Pioneering Enterprises, and Sunline is one of the top enterprises making it into the list.

The top enterprises in this list were selected through multi-dimensional deliberations by CCID Consulting’s internal experts as well as through comprehensive opinions from financial representatives. After half a year of research and interviews to analyze the companies’ data, financials, R&D investments, financial scenario applications as well as user experiences, evaluating the top enterprises in how they strive to fully demonstrate the comprehensive capabilities in the financial industry.

Innovation is the first consideration in this list as innovative vendors and financial users are the drive that promoted the development and accelerated the process of digital transformation of the financial industry.

CCID Consulting has affirmed the comprehensive innovative strengths of Sunline from three aspects:

1. Leading technological innovation

Technological innovation is the fundamental driving force for the sustainable development of Sunline. For many years, Sunline has insisted on independent researches and developments. The company developed a distributed platform with independent intellectual property rights and in line with financial scenarios and launched the first distributed JAVA-based core system. The core system was also the first to launch the “microservices + unitized” architecture core banking system in 2020 for major banks. At the same time, Sunline has also achieved remarkable innovations in big data and artificial intelligence.

2. Focus on scenario innovation

Sunline attaches great importance to the application of technology and financial business scenarios, creating solutions such as smart marketing, smart risk control, and comprehensive data asset management through independently researched and developed financial marketing empowerment systems, smart collection robots, and smart accounting systems. Innovation is the key to promoting digital transformation and the development of the financial industry.

3. Major innovative development in multiple fields

In recent years, Sunline has continuously promoted the development of credit business in the financial industry. The distributed core system independently developed for WeBank and Zhangjiagang Rural Commercial Bank has realized full-stack domestic production with safe and stable operation. The core system based on the domestic database has been used in CITIC Credit Card, Ping An Credit Card, and Kunshan Rural Commercial Bank were successfully put into production. At the same time, in line with the innovation needs of major banks, Sunline has provided business and technical expert resources in the fields of consulting and construction of major bank’s technology platform and application system reconstruction, actively contributing to the implementation of enterprise-level architecture, independent and controllable IT construction.

With the acceleration of digitalization in the financial industry, Sunline’s team size, operating income, R&D investment, etc. were also increased. In the future, Sunline will continue to focus on the financial field and insist on independent innovation to help financial institutions with innovative technology and professional services. 

On October 26, Sunline and China UnionPay Data Services (CUP Data) signed a cooperation agreement in Shanghai to formally establish a strategic partnership between both parties. Sunline’s Chairman, Wang Changchun and CUP Data’s President Ji Xiaojie attended the signing ceremony signed by Sunline’s Executive Vice President Zheng Kang and CUP Data’s Vice President Hong Yugao.In this cooperation, both parties will jointly invest important resources to strengthen the linkage in the credit card core system, core banking system, and other financial technology fields.

In the future, collaborative innovations in the entire life cycle of credit card and business management including but not limited to customer approval, risk management, customer services, marketing activities, big data support and services, supporting IT system construction and operation support can fully empower the development of the industry with financial technology.

Sunline is a leading financial technology company in China, focusing on the digitalization of the financial industry for 20 years and serving more than 800 financial institutions worldwide. Driven by leading technological innovation, the company’s core banking system continues to lead in the industry while digital financial business, big data business, and management business growing rapidly.

CUP Data is a leading digital account service and financial technology expert in China, providing professional solutions including bank card issuance core systems, peripheral value-added products as well as consulting and data analysis services to more than 200 card issuers in the country and abroad. At the same time, it provides safe, stable, and efficient operation services for hundreds of millions of cards.

The two parties will use this strategic cooperation as an opportunity to leverage respective advantages in respective fields to jointly develop a new model of innovative development, promoting the transformation and upgrading financial institutions with better products and services.

From 28 to 30 October, the 4th China Fintech Industry Summit and the 3rd Sino-Singapore Fintech Expo were held in Suzhou. At the summit, Sunline signed a business cooperation agreement with the China Academy of Information and Communications Technology, joining the cooperative units of the Cloud Computing and Big Data Research Institute of the academy.

In the cooperation, both parties will work together to realize the joint construction of financial information technology application innovation and development capabilities, joint research on emerging technology fields of financial technology, joint development of related technological innovation research and capacity building, as well as joint promotion of the construction of a financial technology ecosystem, ultimately empowering technological innovation in China’s financial technology industry.

Sunline has continuously promoted the development of China’s financial credit innovation in recent years. The distributed core system developed for WeBank and Zhangjiagang Rural Commercial Bank has realized full-stack domestic production with safe and stable operation. The core system based on the domestic database has been used in both CITIC Credit Card and Ping An Credit Cards as well as Kunshan Rural Commercial Bank. All three projects have been successfully launched and have rich experience in successful financial credit creation.

Sunline shared six recent successful cases of distributed banking core business system implementations at the Financial Credit Technology and Application Forum on the morning of 29 October. With practical experience and a deep understanding of the industry, Sunline has empowered China’s small and medium-sized commercial banks, fully realizing the full potential of their core and peripheral business systems.

At the same summit, the Yangtze River Delta Financial Credit Innovation Joint Research Base was also officially inaugurated and established. Sunline was invited to participate in the joint research base and contribute to the development of China’s financial credit innovation with other members of the base. By focusing on the pain points and challenges of the financial technologies, the research provides solutions such as software and hardware adaptation verification, product testing, and technical researches, providing ecological support in terms of achievement display, talent training, conference seminars, etc. 

Under the “14th Five-Year Plan”, the financial technology sector will form a new development pattern. In the future, Sunline will continue to use its own technological innovation advantages and practical experiences in financial credit creation to accelerate the integration of the financial technology ecosystem and contribute to China’s financial technology.

On October 22-23, 2021 DAMA China Data Management Summit was organized and hosted by the International Data Management Association (DAMA) China in Jing’an District, Shanghai.

The summit focused on data management and digital transformation, sharing the industry’s best practices and applications. During the summit, the winners for Data Governance Expert Awards were announced and Chen Yuyuan, General Manager of Sunline’s Data Asset Management Department won the “Top 10 DAMA China Data Governance Experts Award” for his outstanding project experiences in the field of data governance and excellent achievements in the industry.

As a senior expert in the field of financial data governance for more than a decade, Chen Yuyuan has helped provide data governance consulting and implementation services for more than 60 financial institution customers. He also represented the company to participate in many national standards and industry standards planning, translation and proofreading of DAMA-DMBOK2 as well as assisted many banks to complete the appraisal of scientific and technological achievements of the People’s Bank of China, making numerous contributions to the development of the data governance field.

During the summit, Sunline shared in-depth practices and applications in the field of data governance based on the company’s accumulated implementation experience in the field of data governance:

Gu Min, General Manager of Sunline’s Big Data Business share the “Solution for Commercial Bank Data Management Application System”, focusing on the digital transformation path for commercial banks, from business digitization, digital assetization and asset servicing to service businessization, layered analysis and interpretation to help banks build an integrated data closed-loop, enabling banks to become smart banks with the support of financial technology.

Chen Yuyuan gave a speech on “Enterprise Data Quality Governance with DMBOK2”, sharing the requirements of data quality standards, data quality testing, analysis, improvement and evaluation. The step-by-step guide aims to help business personnel to better participate in data quality governance. Chen shared that the key to the improvement of enterprise data quality lies in the establishment of business personnel’s quality concept. With the help of data standard management, data model management, metadata management, data quality management and other tools, business personnel can quickly establish a closed-loop data governance management and ultimately realize business driven through data quality management.

China’s 14th five-year plan (FYP) and the country’s 2035 long-term goal outline pointed out that businesses should welcome the digital age, activate the potential of data elements and that a sound data governance system is conducive to the market-oriented allocation of data elements and plays an important role in promoting the high-quality development of the digital economy.

Sunline has always placed high importance on ingenuity, continuously polishing data governance solutions, actively participating in the promotion of national-level data governance to help financial institutions tap the value of data assets to meet the opportunities and challenges under the digital wave as well as promoting the continuous improvement of China’s digital level and continuous innovation.

In the third quarter of 2021 where the market development is in full swing, Sunline has maintained a consistent and stable growth trend especially in the major banks and provincial rural credit market, with the winning of projects from China Merchants Bank, Ping An Bank, China Everbright Bank, Liaoning Rural Credit, Zhejiang Rural Credit Union, Bank of Nanjing and Jiangnan Rural Commercial:

·       Huaxia Bank

Innovative intelligent application in banking managerial accounting

In order to better play the role of the managerial accounting platform in supporting the transformation and refinement of management in the entire bank, Huaxia Bank launched the intelligent construction of managerial accounting, focusing on improving the intelligent level, intelligent analysis capabilities, data analysis, forecasting capabilities as well as data flexibility of the managerial platform.

Sunline uses intelligent analysis models and technologies to provide Huaxia Bank with data analysis and decision support to establish customer value evaluation and tracking, realize data visualization and mobile data interaction and comprehensively enhance Huaxia Bank’s data analysis and decision-making support. The project will provide a good example for the deepening application of managerial accounting in the banking industry.

·       China Everbright Bank

Big data services expand further into big banks

With the continuous business development and strengthening of regulatory requirements, China Everbright Bank has put forward higher requirements on the quality of anti-money laundering inspection data and data preparation efficiency.

With rich industry experience and in-depth understanding of banking regulatory requirements, Sunline has customized an optimized anti-money laundering inspection data management platform solution for China Everbright Bank which realizes enhanced anti-money laundering data inspection quality, data governance and corporate risk assessment, providing strong support for the bank to comprehensively improve the quality of incoming inspection data and efficiency of data preparation.

·       Liaoning Rural Credit Union

In-depth data governance improving quality and safety

In order to specifically rectify and supervise data quality, establish a long-term mechanism for data governance as well as leverage data value in operation and management, Liaoning Rural Credit initiated the construction of the second phase of its data governance project.

Based on the results of the first phase of Liaoning Rural Credit Data Governance Project, Sunline has established a data asset and indicator management platform, expanding the scope of data management and control as well as continuously promote the management of regulatory data quality based on the “Data Security Management Measures” issued by Liaoning Rural Credit, enabling the establishment of a classification system for data security levels, sort out of data security threats, improvement of data security management strategies as well as comprehensively expand data security use, security management and control capabilities.

·       Bank of Jilin

Another representative project in the general ledger field of provincial-level city commercial banks

In order to solve the problems of insufficient multi-dimensional information, non-unified accounting and high pressure on business innovation, Bank of Jilin has established a centralized and unified accounting center for the whole bank. Bank of Jilin officially launched the construction of a transaction-level general ledger system. The transaction-level general ledger system customized by Sunline for the bank not only effectively supports the separation of transaction and accounting to realize unified management of accounting rules across the bank, drive business innovation and rapidly response to changes in accounting rules but also build a complete business and financial integration data model that consolidate the foundation of industrial and financial integration data, providing a reliable source of information for supervision, operation analysis and external letter approval. This project is another representative project of Sunline in the general ledger field of provincial-level city commercial banks after Hubei Bank, Sichuan Bank and Shanxi Bank.

At the same time, Sunline also won the data warehouse project for the Bank of Jilin. In line with the requirements of the Bank of Jilin to implement unified data standard, Sunline provides a powerful technology platform for massive data calculation and complex model processing, realizing comprehensive logical centralization of data and data sharing that comprehensively, timely and accurately display the important operating conditions of the head office and branches to help Bank of Jilin to fully tap the value of data.

·       Huarong Xiangjiang Bank

Create a full-function core banking system for provincial-level city commercial banks

Huarong Xiangjiang Bank is a provincial-level city commercial bank based in Hunan. Since its establishment, it has closely followed Hunan’s economic and social development strategy and actively implemented the development tenet of “based on Hunan, relying on Hunan, supporting Hunan and serving Hunan”. In order to provide customers with an all-rounded and characteristic financial services as well as comprehensively enhance the bank’s business innovation and competitiveness, Huarong Xiangjiang Bank initiated the construction of a new generation core banking system.

Sunline will build a new generation core banking system for Huarong Xiangjiang Bank which will realize flexible product configuration and rapid customization, differentiated customer pricing, unified channel support, multi-legal person support, refined data collection and other full-function modules to provide the bank with complete channels and flexible operation supports that can quickly innovate products, scientifically control risks as well as comprehensively improve business processing efficiency and customer service capabilities.

·       Zhejiang Tailong Commercial Bank

Create a new generation smart financial system with highly interconnected data

Zhejiang Tailong Commercial Bank is a joint-stock city commercial bank. Since its establishment, it has always insisted on “serving small and micro enterprises as well as practicing inclusive finance”. In order to further enhance the digital, intelligent and refined level of the bank’s financial management, technical means are used to improve financial efficiency, optimize user experience and strengthen financial risk control for the bank and Zhejiang Tailong Commercial Bank decided to launch a smart financial system.

Sunline has customized a new generation smart financial system for the bank to undertake business-related systems, issue management applications and conduct close data interconnection with a large number of systems, realizing the integration of industry and finance through scenario-based management of expenses and providing high value for business decision-making data that penetrates the essence of the business. At the same time, it also realizes intelligent identification and intelligent filling of forms on the employee side, intelligent risk control and intelligent accounting on the financial side, efficient, rapid approval and intelligent analysis on the leadership side as well as comprehensively improves the management and operation efficiency of the bank.

·       Liuzhou Bank

Create a highly agile data center with “real-time capabilities”

In order to satisfy applications such as mobile banking and cockpit management to obtain real-time data services and improve the efficiency of operation and management, Liuzhou Bank has made every effort to create a data middle-office project.

Sunline uses real-time data collection technology combined with real-time computing components of the big data platform to integrate offline data and real-time data, flexibly arranging the combined data as needed and publishing it to the data service gateway through API, service subscription, etc., to build a unified data service system in order to quickly respond to the real-time data service needs of Liuzhou Bank’s business staff and system developers, ultimately realize flexible, configurable and fast-response data service capabilities.

Looking at the growth in the third quarter, Sunline has shown outstanding performance in the core banking system, big data, financial management and other fields. With strong innovation strength, comprehensive product lines and professional services, Sunline has empowered high-quality transformation and development of financial institutions.

The 2021 Asia Economic and Entrepreneurship Summit is a leading regional economic forum organized annually by KSI Strategic Institute for Asia Pacific, the Pacific Basin Economic Council (PBEC) and China Daily allowing Government, Business, Civil Society and Thought Leaders to discuss the key trends, strategic challenges and major issues impacting businesses and industries in Asia. 

With the pandemic causing tremendous disruptions across the Asia region, the rebuild of the new normal requires resilience, agility and adaptability as well as government support, with great focus on digitalization, technology and innovation. Building shared prosperity as well as sustainable and inclusive growth are the key challenges. As the leading financial technology service provider, Sunline was invited to join in the virtual panel discussion session represented by Matthew Chen, CEO of Sunline Holding to discuss the prospects for digitalization, the digital solutions for the new normal as well as how technologies like AI, blockchain, digital payments and Internet of Change impact on economic growth.

If you missed the pane session at 2021 Asia Economic and Entrepreneurship Summit on the Challenges of the Digital Economy in Asia, you can watch the full panel session below: