Category: News

  Since 2014, digital banking has been noted in the government work report for 4 consecutive years and has been ascended as a national strategy.

 Based on the analysis of banking sector, there are 10 major trends in digital banking ever since the introduction of direct banking to the maturity of internet financial ecosystem today.

  President of China Internet Finance Innovation Research Centre and director Financial Law Institute of Central University of Finance and Economics, Mr Huang Zhenceng expressed the growth of digital banking will revolve around 4 key areas:
  1. Ecosystem – Future of an innovation must create an ecosystem and the core of interactions are the flow of data and capital, instead of flow of product in past ecosystems. From the introduction of computers to mobile and wearable devices, advancement of AI and internet of things (IOT), intelligent and mobile technologies will continue to become a larger part of our lives. With more comprehensive coverage of wireless broadband, wider usage of cloud computing, real-time updates from big data analysis and mass data flow, these technologies will become productive resources in the ecosystem.
  2. Scenario – The core of scenario based technology is the flow: From the flow and fusion of products, user group as well as industry. Consumer financing and internet insurance will be the next outburst in scenario based growth. Others with greater opportunity include credit, investment, finance management. Digitization is the essential direction for these services.
  3. Market – Third-party service providers are the new market for traditional financial institutes to leverage on for collaborations. One of the main characteristics of the digital economy that traditional financial institution can leverage on is having other market players cover the increasing service charges by prospering the market through addition of more third-party services.
  4. Technology – The constant iteration of new technologies like block-chain, intelligent contracts, AI etc will continuously promote growth to the financial industry.

  With the rapid development of digital banking and the intensifying competition in the industry, banks are beginning to pay more attention towards the development of more exclusive financial services. Hence, a system with ability to efficiently process mass data is essential for banks to stay ahead in the competition.
Sunline’s new generation core banking system with an open architecture is optimised from both horizontal and vertical levels. The system’s immense scalability and efficient processing capability provides a comprehensive solution for mass data management.
  The core system’s horizontal expansion capability adopts the deployment structure of application and database services in separated application framework which effectively avoids the interruption between both services. The use of application service modules from different application servers to support different business processes boost the elasticity and scalability of the system. The system can achieve accounting processing capability of up to 10,000TPS, scalability of application servers according to need of business development as well as unlimited expansion of application services.
  Developed in pure JAVA language with the support of PCServer hardware and deployment using standby master mode, the stability and robustness of system is greatly improved. Backup machine is always on standby mode under normal circumstances. Only if the main server fails, the system automatically switches the transaction services to the backup machine. This will maintain a single node application while allowing zero-downtime.
 
  Sunline core banking system uses 4 processing technologies in its application to effectively improve the business processing ability and processing efficiency:
  Read / write separation technology – The system supports separation of accounting processing and information inquiry. After the completion of each transaction, the system pushes all related transaction information to the information inquiry system through the application platform. This improves the independency of the inquiry service application for each customer’s inquiry.
  Table – The system recognises stored data in information table or transaction table and allow split of multiple structure in the same table. With the use of Hash algorithm, these data can be stored in different sub tables according to user needs and improves system query efficiency.
  Caching – The use of system parameter to improve the operational capacity of memory and SQL caching support the execution of the transaction in the unified disposable SQL statement before a transaction hence effectively reduce the number of interactions of business processing and database.
  Asynchronous processing technology – The use of this technology allows processes to occur on different threads simultaneously effectively. With automatic identification of current accounts, handling locks, waiting times and accounting processing efficiency, the the impact of deadlock on system processing can be further minimised.
  The distributed architecture of the new generation system is based on SOA design while leveraging on the advantages of the internet architecture to support load balancing. High scalability, concurrency and “two hundred million” processing capabilities is a core banking system for the future. Throughout continuous innovation and internal function optimisation, the new generation system is greatly improved to specially handle mass data. Sunline has successfully deployed the new generation core banking system for numerous banks to not only support their development of traditional banking services but also their digital banking services.