Category: News

Sunline has taken the first step in establishing its presence in the Middle East by signing a Memorandum of Strategic Cooperation with Medad Holding, the investment arm of Al Hail Holding, based in Abu Dhabi, UAE. Both parties will be sharing their financial technology, experiences and resources in aiming to enrich digital financial services in the country.

Al Hail Holding is a leading investment company headquartered in Abu Dhabi, UAE and operates a diverse portfolio across a wide category of sectors. The company has made substantial contribution to the diversification of the UAE economy as well as the development of government and private-sector joint initiatives. Sunline is a leading software company in China focusing on banking IT solutions through its digital core banking system and has developed a platform which facilitates financial inclusion at a faster pace.

Medad Holding has entered into a Memorandum of Strategic Cooperation with Sunline in the presence of Mr. Hamad Jasim Al Darwish, Chief Executive Officer at Al Hail Holding and Mr. Mathew Chen, Chief Executive Officer of Sunline Overseas Business Group. Through this collaboration, both parties intend to jointly explore, develop and invest in the areas of digital IT solutions for banks and other financial institutions as well as facilitate the development of B2B2C in the Middle East, North Africa and other geographic areas of interest. 

Sunline will deploy the company’s new generation intelligent financial cloud services platform, Finline, which greatly improves banks’ business services and ability in customer acquisition.

Ever since venturing out of China two years ago, Sunline’s continuous effort and commitment in elevating the financial industry in the overseas market have recently landed the company their first project in Indonesia. The collaboration with Bank Sinarmas, owned by one of Indonesia’s largest conglomerates, Sinar Mas Group, will be a boost to Sunline’s presence in Indonesia. Moreover, Bank Sinarmas has been a main influencer in the banking industry, with more than a dozen banks in Indonesia jumped on the bandwagon back when Bank Sinarmas first deployed their core system. 

Located in Indonesia, the world’s largest island country with more than seventeen thousand islands, Bank Sinarmas has been constantly slapped with geographical restrictions. The inability of its current core system to support rapid changes in the inevitable era of digitization further demands core modernization. 

Proposing a parallel running dual-core system, Sunline aims to disentangle Bank Sinarmas’ pain points while maintaining the stable operations of their branch businesses. Sunline’s self-developed Digital Core Banking System can run concurrently with Bank Sinarmas’ existing core system, providing high concurrency support, massive data processing, rapid access to big data analysis as well as mobile technology to improve customer acquisition. 

The customer-oriented system with powerful product factory speeds up rollout of banking products, improves the future adaptation of banking services and enhances the bank’s ability to provide personalized services for customers. Sunline’s Digital Core Banking System will also allow the bank to create a beneficial business ecosystem with relevant business units of the Sinar Mas Group like telecommunications and insurance, to come out with innovative and personalized rewards packages for their customers.

On April 24 and 25, more than 300 financial industry organizations convened at the two-day Huawei Global FSI Summit 2019 held in Shanghai to discover the cutting-edge technologies and digital transformation practices of the global financial services industry to make Smart Finance a reality, leveraging Huawei’s chips and other Fintechs to empower the financial industry. Sunline was invited as Huawei’s ecosystem partner to share their invaluable information and insights in digital transformation.

Fintechs reshape the financial industries, which brings not only challenges, but also countless opportunities. Many global financial institutions are already embracing digital transformation and realizes the use Fintechs to improve their services, especially as direct marketing strategies becomes more prone to bottlenecks and overwhelming customers with irrelevant promotions. As the cornerstone of the evolution of Fintechs, Financial Cloud, with strong scalability and quick responses, plays an important role. Financial cloud technology enables digital financial business scenarios and allows the flexibility for diverse needs of financial institutions in a vast variety of financial scenarios.

At the Global FSI Summit, Matthew Chen, CEO of Sunline’s Overseas Business, represented Sunline to present his insights on the joint Financial Cloud Core Banking Solution with Huawei, as well as how this technology can transform and empower traditional financial institutions. Mathew also shared about the implementation case of this joint solution for Small and Medium Enterprise Development Bank of Thailand (SME D Bank). Although the bid was participated by other more well-established competitors, the innovation, quality as well as reputation of Sunline and Huawei were the key to the win. 

The joint Financial Cloud Core Banking Solution, a private cloud based solution is enriched with functions such as agile/microservices developing system, open APIs and standard information security systems can achieve quick product rollout, efficient big data analytics, resources inter-operability, low-cost operations as well as rapid iteration of product business – all-in-all providing a leapfrog development for financial services.

The collaboration with Huawei for the joint Financial Cloud Core Banking Solution will enrich the services of financial institutions in the South East Asia region. Sunline will continue to work closely with Huawei, embarking on a journey to empower the businesses of financial institutions and reinvigorate the financial industry.  

Money20/20, founded in 2011, is an annual global Fintech conference where the world’s leaders come together to network and connect over critical developments that shapes the future of the Financial Industry. The event brings together handpicked industry leaders with visions and innovative thinking to curate an agenda covering the must-know topics with applicable case-studies, spanning from Fintechs, payments and financial services. As a global leader in financial technology service provider, Sunline has been regularly invited to share their insights about the industry in recent Money20/20 conferences.

As one of the few international companies providing comprehensive financial IT solutions, Sunline not only leads by their independently researched and developed core banking systems, but also digital banking, big data and risk management. It is the only listed banking IT service provider in Asia Pacific recognized by well-known third-party analyst IDC. Since 2016, Sunline has exerted its reach outside of China and established cooperative relationships with financial institutions in Malaysia, Vietnam, Thailand, Indonesia, Philippines and United Arab Emirates.

Matthew Chen (third from left) at ‘Wake up with the CEOs’ panel discussion session in Money 20/20 China 2018

Matthew Chen speaking about ‘The Platform Ecology Trifecta’ in Money 20/20 Asia 2019

Matthew Chen (first from right) at ‘The Tech Giants from China, Scaling International’ panel discussion session in Money 20/20 Asia 2019

Money20/20’s matured conference in the United States and Europe are well-known for their high-impact communication networks and are considered a few of the industry events not to be missed. Sunline’s initial participation in Money 20/20 series was in Hangzhou last year, Money 20/20’s first conference in China. The company was then invited to Money20/20 Asia in Singapore in March and will also participate in Money 20/20 Europe in June and Money 20/20 China in December this year. As one of the pioneers who have grown with the wave of digital transformation in China, Sunline has invaluable information and insights about its experiences. Matthew Chen, CEO of Sunline’s Overseas Business, has been promoted as a regular guest speaker who represents Sunline for Money 20/20 conferences. 

When facing against more well-established competitors in the region, it is the innovation and quality of Sunline’s solutions that sets them apart. Sunline’s experience in China’s financial industry undeniably play a major role in the development of a banking system that is not only more efficient and flexible, but also noticeably speeds up the rollout of banking products. For this project bid, Sunline joined forces with Huawei and Oracle MySQL via a local partner, Samart to facilitate transformation and leapfrog the services of SME Bank.

In the era of digitization and inevitable disruptive innovations, a customer-centric core system becomes the decisive factor for the bank’s competitiveness. Sunline’s self-developed Core Banking System is built on open source technologies and runs on X86 platform. Besides reducing cost of ownership, the system is constructed with strong data processing capabilities with the flexibility and scalability to support rapid changes in business demands. A robust built-in product factory will enable SME Bank to quickly roll-out new products and services according to the latest trends while open APIs allows integration to external platforms for a wider range of marketing collaborations with merchants. 

16 August 2018 – “Finline – The New Generation Financial Cloud Services Platform” was co-launched by Sunline and Tencent Cloud in Shenzhen. More than 100 domestic banks who attended the conference, has signed the initiative agreement to on-board the platform.  Finline is a collaborated development after the strategic investment and equity partnership announcement with Tencent earlier this year; and aims to provide a one-stop, convenient and intelligent financial platform for both banks and users.

 

Innovation is the key to the digital transformation in the banking industry 

Being one of the few technology service providers to independently develop their own core systems, Sunline has always insisted on continuous innovation as well as R&D. Sunline for the past 16 years have actively responded to industry trends by revolutionizing developments of comprehensive adaptable financial IT solutions, including core banking system, digital banking system as well as big data solutions.

During the conference, Chairman of Sunline, Mr. Wang Changchun said that in the era of digital economy, digital financial services is the way forward. Banks are facing difficulties in transforming their services to keep up and continuous investment costs with little effect are becoming harder to justify. On the other hand, users are expecting more seamless services and experiences. He believes Finline will be the solution to bridge the current difficulties faced by both the banks and their users.

President of Tencent Cloud, Mr. Qiu Yuepeng said that Finline is a collaborated innovative attempt between Tencent Cloud and Sunline, to develop a new generation financial cloud services by integrating the respective advantages in terms of technology, experience and ecological linkage. This platform aims to innovate banking business through its distinctive solution.

“Finline” to accelerate financial intelligence through seamless services 

IDC reported an overall market size of China’s banking IT solutions at $33.96 billion in 2017, an increase of 22.5% since 2016 with opportunities brought by financial technologies like artificial intelligence (AI), cloud computing, big data, mobility and block chains.

With regards to how banks can effectively grasp these opportunities, Vice president of Sunline, Mr. Li Hongguang believes that building an ecological system with an open mind will achieve exponential result. Finline can unlock unlimited possibilities with “1+1+N” concept. 

Combining the respective technology advantages of Sunline and Tencent, Finline provides an intelligent platform for both banks and internet users, greatly improving the bank’s business services and ability in customer acquisition.

Finline fuses Sunline’s pioneering solutions with Tencent rich ecological resources. Based on leading modeling and big data technologies, the intelligent platform allows banks to provide precision marketing, personalized products and services as well as loyalty point managements for their users. Finline is not only a dynamic system for banks but also a one-stop, convenient and customer-centric financial services platform for users! 

IDC reported that one in four top Asian banks will make substantial changes to its core banking system in the next 3 years, with a goal to become a digital-ready and strive for a hyper-scale, hyper-performing future of banking.

Check out what are the next steps for banks to be digital-ready in respond to the era of transformation and the characteristics of hyper-performing core banking systems of future-ready banks!

Download the complete infobrief here

23 April 2018 – Leading banking software and technology services provider, Shenzhen Sunline Tech Co., Ltd (Sunline) (SZSE stock code: 300348) and Tencent jointly announced strategic cooperation to provide intelligent finance solutions for global financial institutions. In addition, Tencent’s strategic investment in Sunline of approximately RMB400 million or equivalent to 7.14% of share will ply a deeper cooperation in capital investment and business strategies for both companies. The innovation resulting from the collaboration of both giants will empower the banking industry, further realizing “banking everywhere” in a seamless way.

Sunline and Tencent will conjointly launch a brand-new portfolio, integrating the respective technology advantages of both companies. Fusing Tencent Cloud’s technology in cloud computing, big data and AI platform capabilities, Sunline aims to help banks achieve “banking everywhere” through seamless integration with social media and mini programs like WeChat, QQ etc.

Apart from boosting the advancement of China, this strategic cooperation also aims to strike transformation in the global industry. Matthew Chen, Sunline’s Overseas Business Group CEO, stated, “Sunline has a proven record in leading the China banking industry to go through digital transformation since 2002, from the first invention to launch China’s first JAVA SOA based core banking system to the first digital banking solutions for WeBank in 2014. We are confident that this new business collaboration will lead the traditional financial business model and propel bank services to the next level.”

Aside from the collaboration strategy with Tencent Cloud, according to the latest annual report announcement, Sunline has been named as Forbes China Top 100 Potential Enterprises and Top IDC China FinTech Pioneer in 2017. The commitments in trendsetting Digital Banking in the region through collaborations with international banks like CIMB Bank as well as its recent wins in SEA reaffirms Sunline’s strategic role in the overseas market.

Since Sunline ventured out of China two years ago, the company has continuously offered technology advancements to elevate the financial industry in the overseas market particularly in digital banking movement. “The recognition from the analyst market and banking customers are the drive for Sunline to continue its aspirations in offering more innovations to reinvigorate the global financial industry” said Angel Tan, Sunline’s Global Marketing Director. 

2018 has also marked several milestones for Sunline so far. Being the only Financial IT Solutions Provider in China to be featured in IDC Asia Pacific Financial Insights on core modernization (Perspective: More Game Changers in Asia/Pacific’s Race for Connected Core Banking), Sunline is proud of its powerful digital banking solution, which the company has been actively pitching to banks across the APAC region. Sunline scored yet another achievement when IDC named Ping An Bank as
Asia Pacific’s Leading Financial Service Innovators for Core Innovation,
the only winner from China at the 2018 Asian Financial Services
Congress.

According to IDC, 2018 – 2021 is expecting an unprecedented digital boom in APAC. Check out how Sunline, the prominent leader in digital core is priming banks to be digital natives.

Sunline is constantly reinventing its technology over the past decade by integrating the latest technology trends with industry best practices, ensuring completeness and highest performance of its end-to-end financial IT solutions. With all of the solutions designed based on ”customer-centric” concept, Sunline is the expert to help banks reinvigorate financial services.

Download Sunline’s complete financial IT solutions (2018) here