Category: News

Zhangjiagang Rural Commercial Bank’s new core project won 2020 China Financial Industry Technology Application Scenario Innovation Award for its outstanding achievements in financial distributed technology at the 2020 IDC China Financial Forum and Award Ceremony on August 28.
 

This award undeniably deserves its name. The new core project for Zhangjiagang Rural Commercial Bank is of great significance to the Chinese banking community. As the first domestic case of traditional bank core system database localization, it successfully broke the monopoly of foreign database manufacturers in China’s traditional bank core system. It can be considered a historical breakthrough and a crucial milestone in the process of “IOE” in the nation’s banking industry.

Everything is hardest at the beginning and it is even harder to walk the path of no one

At that time, the issue of information security had risen to the height of being a national strategy and the core system of Zhangjiagang Rural Commercial Bank had been used for 14 years, so it was difficult to support the business development needs of the industry. Under such internal and external factors, Zhangjiagang was ushered in the core localization opportunity.

Although Sunline and Tencent are well known domestic leaders in core business systems and financial-grade database, respectively. However, it is always the hardest to be the first domestic database core system as there are many factors to be considered.

However, Zhangjiagang Rural Commercial Bank is well-known as a bank that dares to fight to be the first. After more than ten rounds of discussions during high-level meetings, Zhangjiagang Rural Commercial Bank’s Chairman Mr. Ji Ying finally made the decision for the bank to proceed.

In order to ensure foolproofness, Zhangjiagang Bank has made a bottom line plan, that is, a quasi-real-time synchronization strategy for domestic distributed TDSQL database and centralized database data, which can quickly switch databases in emergency scenarios.

August 18, 2019 is a historical moment worth remembering

After more than 400 people working on the project and a entire year of hard work, in-depth testing and technical verification time again, on August 18, 2019, Zhangjiagang Rural Commercial Bank’s new core banking system using a domestic database was successfully launched and operated efficiently and stably.
 

Group photo of Zhangjiagang Rural Commercial Bank’s new core launch

 

The new core project of Zhangjiagang Rural Commercial Bank has therefore become the first bank that successfully implemented the database localization of a traditional core banking system, leaving an important mark on the historical monument of the banking industry.

The new core system of Zhangjiagang Rural Commercial Bank has taken off while most banks are still watching what others are doing

Since the launch of the localized database core system, Zhangjiagang bank has been very lively. Banks from all over the world have come to learn from the bank’s experience. Sunline and Tencent became just as busy.

No matter what, financial industry put stability as most important. Although there are countless banks learning from it, there are also many concerns. Most banks are waiting to truly start the road to the localization of their core banking systems after they see the real after-effects.

It has been exactly one year since the new core of Zhangjiagang Rural Commercial Bank went online. The performance of this core is a matter of great concern to the banking industry.

The IT Department of Zhangjiagang Bank stated that in the one year after the new core system went online, it has achieved the top ten goals of Zhangjiagang Bank’s business, effectively supporting hundreds of peripheral systems, running smoothly, efficiently operating and maintaining, and achieving good applications effect:

• The average daily trading volume is 690,000 and the peak trading volume in a single day is 1.8 million.
• Processing capacity reaches 6200TPS (measured with 50 million account pressure) and performance can be further improved through online expansion.
• Batch deduction is completed within 20 seconds for every 10,000 transactions, marking a 3 times increase.
• The quarterly interest settlement of deposits took 13 minutes, marking a 9 times increase.
• The quarterly interest settlement of loans took 3 minutes, marking a 10 times increase.
• It took 17 minutes to run batches at the end of the day, marking a 6.5 times increase.
• A total of 35 minutes spent on the year-end settlement date.

During the above batch business process, the database system load remained below 10%.

The above data proves the success of the Zhangjiagang Rural Commercial Bank’s domestic database core system project.

Talking about the new core project of Zhangjiagang Rural Commercial Bank again, Chairman Mr. Ji Ying could not help but feeling that this project is extremely challenging but it can be done perfectly. In this project, Sunline played an important part in this systematic project with short implementation period and wide business scope. The many integrations and difficulty during data migration poses many great challenges for Sunline in terms of implementation, project progress, project quality, etc. However, Sunline never backed down and was willing to face the unknown. During the project implementation, Sunline was very professional and dedicated. Besides actively communicated with the bank and TDSQL team, Sunline also actively explored the efficient and stable operations of TDSQL in the traditional core business system.

Chairman of Zhangjiagang Rural Commercial Bank, Mr. Yi Jing

The new core banking system has been put into production for more than a year, with stable operation and outstanding performance. It provides a replicable case for the localization of the new core of small and medium-sized banks and will surely drive a disruptive change in the system architecture of the financial industry. This is also the important reason for the new core project of Zhangjiagang Rural Bank in winning the IDC 2020 China Financial Industry Technology Application Scenario Innovation Award.

At every important point of change in the history, there is always a group of people who do not dare to be different or be the first. They will overcome all kinds of difficulties and dangers creating historic breakthroughs.

Recently, Sunline just landed the new core authorization system and card issuance system for Bank of Communications Pacific Credit Card Center. This implementation will help Bank of Communications build China’s first secure and controllable large state-owned bank credit card core system. This is the next large state-owned bank project after Sunline won the bid for the new core technology platform and bank remittance component project for Postal Savings Bank earlier this year.

Complying with national strategy, Bank of Communications is the first to implement secure and controllable credit card core system among large state-owned banks

The financial industry is the lifeblood of a country’s economy, hence achieving the security and controllability of information technology in the financial industry is essential to economic development and national stability. Following the secure and controllability of credit card core systems of large joint-stock banks such as Ping An Bank and China CITIC Bank, credit card core systems of China’s banking industry have entered a new round of localization upgrade and transformation cycle. The Bank of Communications took the lead to kick off the localization of credit card core systems for large state-owned banks which will further promote the comprehensive realization of security and control of the IT system for the nation’s banking industry.

Bank of Communications is one of the six major state-owned banks with 3,079 business outlets in China and 22 overseas branches (subsidiaries) and representative offices in 17 countries. As early as 2004, Bank of Communications entered the credit card business, introduced HSBC’s advanced technology and management, established Bank of Communications Pacific Credit Card Center and launched a credit card product that integrates global and local advantages. Over the years, Bank of Communications’ credit cards have been at the forefront of business innovation. As of the end of 2019, the cumulative number of cards issued by the bank has exceeded 120 million.

In recent years, the wave of digitization and credit creation has swept across the country. In order to actively respond to the national security and controllable strategy, better comply with the development trend of domestic and foreign credit card business, comprehensively improve unified customer management as well as unifying card issuance management, authorization system and account. With basic business management capabilities such as service management, unified product system and unified parameter management, the Bank of Communications opened the way for localization of credit card cores and built a secure and controllable unitized distributed architecture credit card core system.

Sunline takes advantage of the trend to develop secure and controllable core systems for large state-owned banks

The new credit card core project for Bank of Communications is the first major credit card core system project of a large state-owned bank and it is self-evident that the importance, industry influence and requirements for technological advancement of cooperative manufacturers are high. Benchmark projects in credit card core systems such as China CITIC Bank uses leading technologies like modular distributed architecture and have become the leaders of this historic change in China’s banking industry.

The new credit card core project for Bank of Communications is divided into three major systems. Sunline is responsible for two of the major systems, the authorization and the card issuance system. The project covers the pass component of the technology platform, adopts an advanced distributed microservice architecture, as well as establishes various independent and collaborative competence centers to fully support the rapid deployment of Bank of Communications’ credit card business, enabling the bank to meet high-concurrency customer transaction needs and greatly enhances the operations and product innovation capabilities of the bank’s credit card business.

Sunline focuses on the advanced development in technological innovation, security and controllability

Sunline started the development of core banking systems in 2002 and has since served more than 800 customers. In the early stage, customers were mainly city and rural commercial banks, and later gradually expanded to large joint-stock banks. In early 2020, Sunline won the new core technology platform and bank remittance project for Postal Savings Bank with distributed proprietary technology and successfully moved towards other fields of large state-owned banks. Winning the credit card core system project for Bank of Communications further expand Sunline’s foothold in large state-owned banks and will further establish Sunline’s position in the field of financial IT systems.

From city and rural commercial banks to large state-owned banks, the advanced development of Sunline is inseparable from the key factors of focus on innovation, security and control.

Sunline always ensure the advancement of products and technologies, and the company’s mission in fully supporting banks future business development. This year, Sunline has launched a ‘microservice + unitized” distributed architecture core business system, opening a new core business era for banks. Sunline prioritizes its R&D and the investment for R&D has reached 15% of the company’s revenue in 2019.

Under the national security and controllable strategy, the banking industry is accelerating the pace of localization of key systems. Sunline has implemented two cases of independent and controllable core systems for WeBank and Zhangjiagang Rural Commercial Bank. In the credit card field, Sunline has created benchmark projects for credit cards such as Ping An Bank and China CITIC Bank, and uses these monumental projects to promote the implementation of information security and controllable strategy of China’s banking industry.

Credit card core system and integrated core business system are two pillar systems in banking technologies and play decisive roles in banks’ business operations, user experience and affect their comprehensive competitiveness.

Sunline, as a leading solution provider that has been deeply involved in the core areas of banks for many years has opened up new horizons for credit card core system in the recent years with innovative products and service models based on emerging technologies and architectural concepts, reshaping traditional financial ecology.

1. Establishment the general trend of credit card core security and controllability

When credit card businesses were just introduced in China, the technologies were still new and there were lacking in professional personnel so major card issuer banks can only use the model from foreign banks, using their mature systems, rich business experience and professional talent teams to quickly conduct business.
There have been many disruptive technological and business innovations in the credit card field in China after more than 20 years of exploration and experiments as well as stimulated by the strong demand formed by the huge population. The original advanced and mature imported system can no longer adapt to the continuous evolution the market needs.

Banks are the pillar industry of a country’s economic lifeline and their basic positioning of independence and control has risen to the strategic height of national security. It is an inevitable choice and trend for banks to use domestic solutions and break potential strategic security risks.

2. China CITIC Bank took the lead in achieving a safe and controllable breakthrough

China CITIC Bank has made China proud by becoming an explorer in the field of autonomous control, successfully launching StarCard, a new credit card core system based on its own cloud architecture on the eve of November 11 (Double 11), 2019 and achieving a breakthrough.

The StarCard system built by Sunline is a national production, attribute of “domestic server + domestic database + domestic software” and has become a whirlwind in the industry, wrinkling the peace of mind of major bank card centers. China CITIC Bank’s move has indeed changed the development history of China’s credit card core system and a large number of exchanges and research banks began to appear after the launching of StarCard.

The ‘Double 11’ test came soon after the StarCard system was launched. In the early morning of the same day, the online credit card transaction volume exceeded RMB 100 million in only 2 minutes and exceeded RMB 1 billion within one hour with transaction processing speed increased three-fold. StarCard is an advanced and robust system which is in line with the country’s secure and controllable strategy.

3. Sunline Credit Card Core System focuses on security and controllability

Sunline has always adhered to the independent R&D and technological innovation. Over the years, Sunline has led the rapid development of financial technology and CITIC Bank credit card core system is a major breakthrough towards a secure and controllable strategic route.

Sunline Credit Card Core System is advanced in many aspects:

• At the architectural level, the construction is based on localization and digital positioning.

The architecture design uses domestic database, relies on an autonomous, secure and reliable distributed architecture, fully considers the massive data of the mobile internet and uses a flexible business modeling system to drive micro-service splitting, realizing the stable traditional core while having features of the digital core like high scalability, high processing efficiency and high flexibility, enabling the bank’s credit card business to innovate and maximizing flexibility.

• In terms of technological innovation, the real-time accounting mode is adopted to process authorized transactions within a short period of time through the daytime batch method and the available quota is restored in real time.

Traditional credit card systems mostly run on rigorous dual-information processing modes which faces issues where network environment and online real-time processing capabilities are not superior enough. In desperation, complex calculations and database operations are executed in batches at night. Nowadays, distributed open platform has become increasingly mature, online processing capabilities and system throughput have been greatly developed, solving the original bottleneck issues in the technical environment. On this basis, Sunline has realized the real-time accounting mode and solved on of the major industry shackles.

• At the business application level, it provides customer-centric intelligent services, handles various types of businesses in the credit card field based on accounts and builds a credit card financial technology platform based on digital concepts.

Based on the basic idea of microservices, a variety of independent and collaborative competence centers was established, including product centers, pricing centers, quota centers, authorization centers, accounting centers, etc. Relying on this for product innovation and centralized business operations and through standard, compatible service interfaces, the system provides external development capabilities and connect the relevant participants to share the benefits of financial technology.

At the same time, the system adopts a data-driven concept to drive each link in the business chain through transaction data so that it can perform specific business processing with the assistance of various competence centers to meet the needs of bank credit card business in terms of marketing, product, risk, operation, data and service requirements for complex scenarios.

Sunline uses accumulated knowledge and practical experience in the financial industry to participate in the creation of the first cloud-based credit card core system with independent intellectual property rights in China, and achieved a breakthrough in the credit card industry, providing an important reference value to the domestic credit card industry.

With the experience, Sunline will also take this opportunity to lead the development direction of the credit card core system and reshape the future of the credit card business.

Sunline has recently won the bid for Huishang Bank’s direct banking project to develop an omni-channel intelligent marketing platform, empowering the digital operating capabilities of the bank.

Huishang Bank uses direct banking as an opportunity to accelerate digital transformation

Direct banking has become an important starting point for many commercial banks to explore financial technologies in carrying out capital-light operations. Huishang Bank’s direct banking, Hui Chang You Cai is the first in China to achieve internet inclusive finance. Through direct banking, it breaks development bottlenecks and realizes model and business innovations. At the end of 2019, Hui Chang You Cai has achieved impressive results with over 19 million users and annual net profit of over RMB500 million.

With the increasing diversification of user needs as well as the development and changes of the market environment and regulatory policies, direct banking are facing issues associated with growth; Hui Chang You Cai is no exception. Its customer operations are faced with many challenges such as complex customer backgrounds, diversified customer needs and personalized customer preferences. Traditional service methods can no longer meet the need for rapid response, accurate customer acquisition and flexibility in the new environment that are important for customer loyalty.

Therefore, Huishang Bank urgently need to build an intelligent marketing platform, strengthening the ability of its direct bank to gather merchants and customers, realizing the integration of products and services of the bank and systematically improve customer marketing and operation capabilities.

Sunline helped Huishang Bank’s direct bank create a new generation real-time, agile and intelligent marketing model

In recent years, Sunline has made rapid progresses in the field of financial big data, specializing in data applications, data services and data management. The intelligent marketing platform created for Huishang Bank’s direct bank not only grasps the future trend of direct banking services, also integrate customer life scenarios to achieve ecological platform construction, which is in line with the development objectives of Huishang Bank Direct Bank.

Sunline Intelligent Marketing Center covers the entire life cycle of customer marketing scenarios, creatively encapsulates the marketing process in scenarios and provides customers with a full set of visual configuration templates, enabling flexible operations and one-click deployment demands to meet customers’ individuality.
Through Sunline Intelligent Marketing Center, Hui Chang You Cai can be transformed and realize the transformation of customer operations from ‘one interface for a thousand people’ to ‘a thousand interface for a thousand people’ in marketing scenarios and from ‘fragmented marketing’ to ‘omni-channel marketing’, improving the service efficiency of direct banking and providing customers with scenario-based, personalized and diversified financial services. Huishang Bank can now accurately grasp customer needs, respond to market changes in a timely manner and have first-mover advantages in digital marketing transformation.

Sunline Intelligent Marketing Center hits the industry with innovation and professionalism

Sunline has developed an intelligent marketing platform based on the company’s experiences and knowledge in financial big data with a number of outstanding advantages and can fully help banks improve financial service efficiency and accelerate their digital marketing transformation.

1. Fully integrate customer lifestyle scenarios
Sunline Intelligent Marketing Center covers full life cycle marketing scenarios such as customer card binding, product recommendation, asset enhancement and customer retention, realizing an all-round and full-cycle management of marketing activities and data requirements, responding accurately and timely to customer needs, ultimately saving the marketing costs for the bank.

2. Systematically improve the efficiency of banks
Sunline Intelligent Marketing Center combines the latest technological achievements and uses big data to drive a real-time, agile and intelligent marketing model which greatly improves the bank’s capabilities in risk control, anti-fraud, product pricing, precision marketing and robo-advisory.

3. Flexible configuration of marketing activities
Sunline Intelligent Marketing Center is oriented from a business perspective that fully realizes the flexible configuration and personalized management of marketing activity elements, enabling business departments complete marketing tasks conveniently and quickly.

4. Stable export of financial products and services
Sunline Intelligent Marketing Center can be connected to professional service platforms in related fields and stably export financial products and financial services to these platforms.

The products and solutions by Sunline are developed and reinvented with nearly 20 decades of industry knowledge and experience. Sunline Intelligent Marketing Center perfectly depicts the innovation and professionalism of the company, as well as the mission and core values of Sunline to provide the most comprehensive and secure financial solutions for banks and financial institutions.

Sunline’s big data business is on the limelight recently, winning multiple banks’ project with advanced and professional data service capabilities. Sunline’s big data business has recently won another project to develop Bohai Bank’s unified data service platform, enabling the bank to improve operational management efficiency and enabling the bank to quickly empower business scenarios.

Bohai Bank uses Sunline’s data unified service platform to open up the data service chain

As one of the youngest national joint-stock banks, Bohai Bank has rapid innovation advantages and opportunities brought by the implementation of national strategies and the development of financial technology and the bank aims to provide the best experience for customers in modern treasury.

In the Data Technology (DT) era, banks are focusing in solutions to implement their goals of data governance planning, actively implement the new regulatory guidelines for data governance, effectively improve their data value creation capabilities, tap the hidden value of data and improve the efficiency of banks operation and management. Bohai Bank have taken the steps to develop a unified service platform that integrates the external service capabilities of its big data platform into an accurate, sharable and secure data platform to truly turns big data services from being a ‘concept’ to ‘value’.

Sunline Data Unified Service Platform Empowers Data Mining

Sunline’s data unified service platform allows data to form a closed loop between the data platform and business system, realizing the decoupling of applications and data, sharing and use of data between systems through centralized management and enabling prompt actions according to the scene. Service configuration and release provide a full set of visualization and configurable templates in various scenarios to meet the individual needs of flexible operation and one-click deployment, enabling banks to accurately grasp customer needs and respond to market changes in a timely manner.

Sunline helps Bohai Bank realize unified management and monitoring of data services through the unified data service platform to provide a diverse and convenient data services for use across the bank, maximizing the value of data assets.

Sunline’s big data products are built with innovation and professionalism in mind, and are recognized for their great capabilities

Sunline has set foot in the field of financial big data and has developed a number of eminent products and solutions, applied by Ping An Bank, Hengfeng Bank, Bank of Nanjing, Bank of Zhengzhou, etc.

Sunline’s developed data unified service platform is the company’s latest outstanding product with:

1. Advanced containerized microservice architecture
Adopting a container-based microservice architecture with features such as autonomy, isolation, flexibility, adaptability, responsive, decentralization, composability, automation, etc. to support the management, configuration, multi-tenancy, resource isolation and service grayscale of cluster resources release and other functions.

2. Quick configuration of service capabilities to enable business scenarios
Based on resources such as data or programs, services can be quickly configured and released according to business scenarios and the released services can be organized and combined to form a service group. After online testing is completed, they can be directly released into applications, which greatly enriches the bank’s unified data service capabilities.

3. Service visualization
The configuration, release and orchestration combination of services is fully visualized, which is very convenient and user friendly. The service management, monitoring, analysis and other functions also use visual operation pages to greatly enhance the intuitive experience.

4. High performance
The unified data service platform is highly available, concurrent and stable with load balancing, fault tolerance and rapid expansion. It can quickly expand computing resources to meet the seamless use of business as system pressure increased.

At present, Sunline’s big data products have been widely implemented in numerous banks and financial institutions, receiving unanimous praises. ‘Helping financial institutions make good use of their data’ is Sunline’s original intention when developing big data products and is also a powerful driving force that drive Sunline to continuously develop and reinvent its big data products.

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) and Sunline Holding (HK) Ltd (Sunline) signed a Memorandum of Understanding (MOU) to promote the development of ADGM’s FinTech ecosystem that will support and connect businesses and markets in the Middle East and North Africa (MENA) and the Belt-and-Road corridor, including developing digital financing and loans solutions for SMEs to support and grow their operations in a post-pandemic environment.

As one of the leading banking software and technology services companies in the world, Sunline specialises in providing best-in-class technological solutions for the financial industry. It has the largest installed base for both core and digital banking systems in China, serving more than 700 banking and finance customers worldwide and helping them transform digitally over the past decade. Pioneering many ‘firsts’ in financial innovations, Sunline is recognized by analysts and business magazines including IDC, Forrester and Forbes.

As part of the MOU, Sunline will provide a FinTech development suite in the ADGM Digital Lab, an online marketplace where FinTechs and financial institutions (FIs) can co-create and test solutions to address challenges with direct oversight and engagement by the regulator. Harnessing the tools and collaborating with ecosystem participants in the Digital Lab, banks can create specialised end-to-end workflows for loan products tailored to the needs of the SME.

For instance, a bank can build a digital loan package that is dynamically structured based on changing market conditions as well as evolving credit profile and liquidity needs of the SME. The bank may also work with ecosystem partners to build in digital solutions that actively monitor the cash, inventory and payments of the SME, enabling more alternative financing options solutions such as receivables finance and supply chain finance that can help release cash tied up in the sales cycle.

Leveraging Sunline’s experience and track record as a leading technology service provider in China, Hong Kong and South East Asia, as well as its growing presence in the Middle East, ADGM’s collaboration with Sunline will help to build connectivity and partnerships among the FinTech ecosystems in MENA, Asia and along the Belt and Road corridor.

Richard Teng, CEO of the FSRA said: “With digital transformation accelerating, ADGM seeks to support the growth and development of a vibrant FinTech and innovation ecosystem through collaboration with industry, community and regulatory stakeholders. The Digital Lab consolidates the synergistic benefit of an ecosystem, fostering holistic solutions that are more effective and sustainable.

We look forward to the cooperation between ADGM and Sunline in the development of multilateral technology platforms that support our FinTech ecosystem, as well as foster greater trade and growth opportunities among the SME sector across MENA, China and countries along the Belt and Road.”

Matthew Chen, CEO of Sunline Overseas Business said: “Sunline will create a digital platform on ADGM’s digital sandbox to connect banks with FinTech companies. Empowered with the latest technologies on an agile digital platform, banks can push out more flexible loans to SMEs, especially those going through hardship under the current pandemic situation via this platform. The seamless connections between banks and FinTech companies on this digital platform will create a digital marketplace that foster deeper collaborations amongst this trade corridor.”

Under the MoU, FSRA and Sunline will also mutually support FinTech participants and ecosystem enablers in their respective community networks in leveraging Abu Dhabi as a platform to develop, test and launch innovative FinTech products, services and business solutions in the MENA markets and Belt and Road corridor. Both parties will participate in joint projects on the development and application of technologies such as artificial intelligence, big data analytics, and other emergent technologies.

The new generation core busines system for Liaoning Rural Credit Corporative built by Sunline was officially launched on August 10. The project realizes an independent and flexible multi-corporate core business system, fully integrating the resources of the entire organization to successfully commence its digital journey.

Liaoning Rural Credit Cooperative seizes the opportunity to transform

As the only local banking financial institution directly managed by the provincial government, Liaoning Rural Credit Cooperative has been the main force of rural finance with more than 2000 institutional outlets with healthy and stable operation, serving more than 18 million people as well as numerous small and medium-sized enterprises. In recent years, with the development of digital finance and the deepening of financial supervision, the business types and volume for the corporative increased, gradually surfacing the limitation of the legacy system in support of the corporative’ s future business development and digital expansion.
Liaoning Rural Credit Cooperative has always adhered to innovation and development in order to catch up to the development trend of financial technology. The cooperative is determined to build a ‘safe, efficient and convenient’ new generation core business system and drive the rural credit market with a strong momentum, empowering the development of financial businesses through in-depth integration of technology and business, customization and differentiated financial products as well as safer, more efficient and convenient financial services to meet the diverse needs of consumers. The demand for localization and individualization burst new vitality to the rural credit market and Liaoning Rural Credit Cooperative is first to replace their legacy system with a new generation core business system.

Sunline selected as the preferred technology partner for Liaoning Rural Credit Cooperative’s new generation core business system project

Provincial rural credit cooperatives have large number of entities under its jurisdiction. Therefore, the core business systems for these corporations must be able to handle high demands and complex management. As a leader among the provincial rural credit cooperatives, the construction of the new generation core business system for Liaoning Rural Credit Cooperative is key reference project.

Sunline began the core implementation project for Liaoning Rural Credit Cooperative in June this year. A group of experts with rich experience in the development, construction and implementation of domestic financial business systems were assigned for the project. Numerous meetings with the corporation were held to formulate data standards as well as to gather requirements and feedback. Prior to the implementation, different analysis and tests were performed in order to create the multi-corporate core business system that possesses robust, cutting-edge technological architecture, is customer-centric and highly scalable.

As the nation was still affected by the epidemic during the implementation phase, Sunline’s project team have stayed at project site, avoiding travel and taking necessary precautions. The company also played its part to provide anti-epidemic supplies and relieve staff pressure, advancing project progress in an orderly manner while ensuring staff safety.

With 11,3826 production executions, 550 production tasks, 11,3826 verified cases and 41 hours of implementation, the project has successfully reached the decision point of the system’s ‘internal trial’ and on August 10, the new generation core business system for Liaoning Rural Credit Cooperative was successfully launched. The new generation core business system is a forward-looking and cutting-edge innovation that can fully support the business development needs of Liaoning Rural Credit Cooperative for the next 8 to 10 years.

The new generation multi-tier legal entity core business system comes with outstanding capabilities and is becoming the new benchmark for provincial rural credit cooperatives

Multi-tier legal entity is a major feature of provincial rural credit cooperatives and integrating the resources of the corporation to form a joint force without losing the independence and flexibility of the legal entity’s is one of the main challenges in the construction of the new generation core business system. Hence, Sunline tailor-made a set of multi-tier legal entity core business system that meets the needs of the bank’s business development for Liaoning Rural Credit Cooperative. The system has advanced technical architecture, robust performance, comprehensive business functions and high scalability which can fully support comprehensive financial services.

1. Establish multi-tier legal entity differentiation functions to truly realize customer centricity

The new generation core business system upkeeps the operational requirements of a multi-tier legal entity, supporting data isolation, hierarchical sharing and personalized demand configuration among different legal entities. The system not only allow sharing of information in the entire corporation, also enables isolation of information of special customers and integration of customer resources in the whole corporation, unifying customer marketing and management and fully meeting the transformation needs of Liaoning Rural Credit Cooperative.

2. Advanced technology architecture with efficient docking of existing systems

The new generation core business system adopts a service-oriented architecture, SOA approach; has good cross-platform, cross-database, and uses a localized X86 cluster deployment model. Through virtualization measures, procurement and maintenance costs are greatly reduced. The system also adopts the grayscale release mode of the Gateway middleware provider version of Sunline, which completely solves the pain points of different legal entities having different processing procedures for the same transaction.

3. Product configuration that greatly improve business processing power and efficiency

The new-generation core system realizes more flexible interest rate factories, rate factories, and differentiated pricing; supports flexible product customization and can decentralize product sales attribute configuration functions to legal entities allowing legal entities to independently configure deposits within the system’s product framework. The interest rate and term of the product can fully meet the individualized requirements of various legal entities.  The system also realizes the integration of domestic and foreign currencies, provides group account management functions and builds zero-level and first-level liquidation between legal entities to improve liquidation. The system also enables real-time price and tax separation, international settlement as well as free trade zone business.

4. Cross-over that improves system processing performance

The new generation core system adopts mechanisms such as transaction accounting separation, lending separation, hot account processing and database sharding. Through cluster deployment, transaction processing performance is greatly improved. The concurrent processing capacity of the system has been increased from 385 transactions per second in legacy core to 10,000 transactions per second, end-of-day batch processing time has been shortened from 5 hours to 1.5 hours and batch collection speed for a single account has been increased from 20,000 transactions per hour to more than 500,000 transactions per hour, increasing efficiency by more than 25 times and completely solving the bottleneck problems faced by the cooperative.

Through this benchmark core modernization project, Sunline has helped Liaoning Rural Credit Cooperative achieve a comprehensive upgrade of its own technology and business capabilities and also become the first provincial rural credit corporation to transform, providing an important basis and becoming a significant reference for the subsequent core business system modernization of rural credit corporations in China.

With the rapid development of China’s economy and continuous promotion of the country’s “Belt and Road” strategy, more Chinese enterprises have begun their expansion overseas in recent years through cross-border mergers, acquisitions, direct investment, joint ventures and other ways to actively explore overseas markets.
Ways to efficiently allocate and control the global financial resources as well as improve the level of global treasury management under cross-border, multi-currency, cross-time zone, multi-bank and multi-language environments have become the keys for enterprises moving forward.

 

Cross-border treasury management is the new essential for global corporations

Global treasury management refers to control and management of treasury for its member enterprises by the global group headquarters in order to timely and accurately grasp information of domestic and foreign treasury, unify management of domestic and foreign collections and payments. The proper allocation and management of global treasury will strengthen group control efforts and effectively reduce the risk of transnational operating treasury.
Global treasury management covers a wide range of areas and a variety of businesses according to different dimensions that can be divided into different ways. There are 4 areas of management functions:
1. Liquidity management including global treasury account management, revenue and expenditure settlement, domestic and overseas treasury pools, treasury planning, treasury scheduling, etc.
2. Investment and financing-related management including the management of financing channels, financing entities, currencies, duration, cost control, credit lines, guarantees, investment varieties, duration, income, etc.
3. Risk management including liquidity-related risks, market risks, exchange rate risks, operational risks, etc. through the use of various technical and business means to analyze and predict risks, ensuring normal operation of the group’s treasury
4. The group’s overall operational management and control of financial resources, treating all treasury-related businesses within the group as financial resources and conduct unified configuration, scheduling, monitoring and data analysis.

 

Why is Global Treasury Management Model essential?

The treasury chain is the blood for the survival and development of enterprises. If cross-border treasuries are not well managed, it will have a huge impact on the financial capabilities and international competitiveness of the enterprise, becoming a powerful obstacle to the sustainable development. Therefore, global treasury management is an essential choice for transformation for the global development of enterprises.

 

New problems give birth to new methods – Fintech empowers cross-border treasury management

Treasury management for enterprises is not a new topic anymore. Many large domestic enterprises have years of experience in treasury management. There are generally two ways to achieve domestic treasury management for enterprises:
First, relying on the cash management platform of domestic banks to build an account system that manage the enterprise’s own business treasury. Large state-owned or national joint-stock banks have a fairly complete cash management service system, providing features such as parent-subsidiary accounts, treasury collection, payment and settlement, etc. The investment in this method is less, but the autonomy and controllability of the business is slightly worse.
Second, the group build its own multi-bank treasury management system and cooperate with multiple banks to provide member companies with services such as treasury collection, revenue and expenditure settlement, internal credit as well as bill management. This implementation is more autonomous and controllable but the complexity of investment and management is also higher.
However, managing and allocating treasuries on a global scale is more complicated than domestic treasury management methods, facing the challenges as below:
1. The need to manage the treasury accounts of dozens or even hundreds of cooperative banks distributed in different countries around the world
2. The need to adapt to payment, settlement and regulatory compliance systems under different legal frameworks in different countries
3. The need to deal with global multi-currency and cross-time zone payment and settlement needs, etc.

Banking industry is the most important part of the financial landscape. It ranks first in the financial industry in terms of asset scale, IT investment and information construction level. With the gradual maturity of fintech technologies such as big data and AI, the banking industry is actively using fintech to empower global treasury management and working with fintech companies to build a global treasury management system:
• Using multi-time zone design to meet the differentiated calendar and time zone definitions of different countries
• Using multilingual design to meet different cultural customs and language environments, a flexible and configurable global account system
• Using multi-currency method for clearing and settlement between currencies of different exchange rates, etc.
It has greatly solved the major problems of global capital management and provided important references for the global capital management. Many enterprises have since followed suit and joined hands with Fintech companies to build a global capital management system. Fintech empowers corporate groups to build their global capital management is now a general trend.

 

The innovations of Sunline Global Treasury Management System

With a deep understanding on the global financial business chain as well as strong technical strength, Sunline has developed a global treasury management system based on mature architectural technology and internationalization experience in the banking industry, providing a full range of business support for the global capital operation management of China’s multinational groups.
Sunline Global Treasury Management System is based on the technical system structure of commercial banks, using big data and digital tools to provide enterprises with collection and payment settlement, international business, investment finance, internal credit, capital planning and other diversified treasury management services. The system makes the liquidity of treasuries as the core to build the settlement account management system for enterprises and facilitate the collection and payment business, at the same time, providing all the treasury operation content including liquidity, investment and financing, risk, capital analysis for different levels and different objects of treasury management to meet the different management needs of the group as well as to achieve the comprehensive management and efficient operation of treasuries of enterprises.

 

As a leading financial technology company with financial solutions as its core business, Sunline has rich practical experiences in the field of banking solutions. In addition to serving well-known domestic banks such as Ping An, Agricultural Development and Shanghai Pudong Development Bank, Sunline also have foothold in Southeast Asia providing enterprises with “internationalized and integrated” financial services to empower the construction level of the enterprises’ global capital management system and boost the overseas development of enterprises.

Did you miss Matthew’s insights on “Digital Banking – The Game Changer” session and wanted to know more about how digital banking disrupt the industry, how are traditional banks responding and what are the Prospects for Digital Bank?

Matthew Chen, Chief Executive Officer, Sunline’s Overseas Business Group shares his insights on the technologies behind the future ready, hyper scale and hyper performing banking system. Mathew also shared more in-depth about the different transformation paths banks take to transform as they embrace the digital era.