Sunline has successfully won the bid for the “Operational Budget Management System Development Procurement Project” of a national joint-stock commercial bank. Sunline will assist the bank in enhancing the quality and efficiency of its budget management, optimizing resource allocation, and empowering management decision-making. This collaboration with the national joint-stock commercial bank once again demonstrates Sunline’s professional strength in the field of comprehensive budget management, showcasing the strong competitiveness of the company’s financial value management products and solutions!

 

The banking industry is facing a complex operating environment with narrowing interest margins and profit pressure today, and effective budget management in a competitive market has become key to achieving strategic goals. Against this backdrop, the bank urgently needs to build an innovative operational budget management system to comprehensively enhance its budget planning and execution analysis capabilities. This system aims to meet the refined management needs of multidimensional budget preparation, precise budget vs. actual analysis, efficient rolling forecasts, and quality process management within the bank.

 

With years of experience in the financial sector, Sunline has independently developed a comprehensive budget management platform tailored to the business needs of domestic financial enterprises. This platform can quickly build complex comprehensive budget management models and achieve full-process management of budget management, from strategic goal decomposition, budget estimation, budget preparation, rolling forecasts, to budget execution monitoring and analysis.

 

Sunline emphasizes preliminary consultations in order to guarantee a precise grasp of client demands. Leveraging its strong capabilities in core business sectors, Sunline has assembled an outstanding team of experts, business consultants, and technical personnel, ensuring efficient execution of the entire process from requirements planning to final system implementation.

 

Building on this cutting-edge platform and outstanding team, Sunline will assist the bank in establishing a comprehensive operational budget management system with clear processes, transparent linkages, and integrated data sharing.  With the help of this system, the bank will be able to better combine business and finance, improve internal departmental coordination, and accomplish finer management. The system will also enable the bank to more accurately assess the profitability of various internal units, providing robust data support for leadership decision-making.

 

In the future, Sunline plans to keep pushing the boundaries of technical innovation in order to better serve additional financial partners’ needs for complete budget management. Our goal is to give our financial partners the tools they need to update their businesses more quickly and move closer to their strategic goals.

 

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About Sunline

 

Shenzhen Sunline Tech Co., Ltd., as a globally leading provider of financial technology solutions, has been dedicated to driving the development of the financial industry through technological innovation since its establishment in 2002. The Sunline Comprehensive Budget Management Solution integrates with the practical business management needs of financial enterprises to swiftly construct complex comprehensive budget management models. It meets the diverse and personalized management needs of financial enterprises for comprehensive budgeting complexity.

The list of the 6th Annual ‘Financial Data Intelligence Solution Awards‘ hosted by  ‘Fintech Innovation in China’ was officially announced. In the highly anticipated ‘Top 10 Outstanding Solutions Recommended by Experts’ selection, Sunline’s ‘Distributed Banking Core System Solution‘ stood out and was honored after scoring by authoritative industry experts!

Sunline has specialized in the field of fintech for 22 years, achieving numerous industry firsts through continuous research, development, and innovation. It has maintained its leading position in the market share of banking core systems for consecutive years. Sunline has undertaken construction projects in the core system area for nearly a hundred financial institutions, including state-owned banks, joint-stock banks, urban commercial banks, and rural commercial banks, setting multiple industry benchmarks for the digital transformation of banking institutions.

 

It’s worth mentioning that the ‘Financial Data Intelligence Solution Awards’ event has been held for five consecutive sessions. As a global leader in fintech, Sunline has secured its position on this list for five consecutive years, thanks to its continuous innovation and outstanding solutions, accumulating numerous awards in the process. 

 

The consecutive awards fully demonstrate the industry’s repeated recognition of Sunline’s innovative strength, serving as a clear testament to its leadership in driving the wave of financial industry digitization transformation.

 

Looking ahead, Sunline will continue to deepen its expertise in the field of fintech, developing cutting-edge products and solutions to provide powerful momentum for the digital transformation and secure development of the financial industry.

 

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About FDIS Awards

 

To showcase the achievements in data management and the intelligent transformation of data platforms in financial enterprises, share practical applications of big data and artificial intelligence in risk control, marketing, products, and operations, and explore the innovative applications and future development of “Fintech + Data Intelligence,” Fintech Innovation in China, with the support of the Global Association of Financial Professionals, hosted the Financial Data Intelligence Solution Awards.

 

About Sunline

 

Sunline, founded in 2002 and headquartered in Shenzhen, is a leading global fintech solutions provider. The company specializes in offering comprehensive financial IT solutions for financial institutions, including core banking, internet finance, big data, and management services. Sunline’s independently developed new distributed core banking system is the first of its kind in China’s banking industry. The system utilizes a distributed technical architecture and a microservices design philosophy, providing efficient support for banks in product design, operation models, scenario integration, data provision, and open connectivity.

On April 29, 2024, Sunline successfully assisted Guangfa Bank in issuing its first comprehensive digital electronic invoice. This milestone marks Guangfa Bank as the first bank in Guangzhou to directly connect its headquarters to “Happy Enterprises” and symbolizes the bank’s entry into a new “digital” phase of tax management, heralding a new era of comprehensive digital electronic invoices!

 

Guangfa Bank Co., Ltd. (hereinafter referred to as “Guangfa Bank”), as one of the first nationwide joint-stock commercial banks established in China, upholds the spirit of “daring to be the first” and has repeatedly pioneered the industry. The upgrade of Guangfa Bank’s tax management system is another demonstration of its leadership in the industry.

 

Currently, China is promoting the construction of the fourth phase of Golden Tax, focusing on the goal of building a smart tax system, and striving to promote “dual integration, three-terminal, and four integration.” As the tax collection and management method shifts from “controlling tax through invoices” to “managing tax through data,” the comprehensive digital electronic invoice system has gradually expanded from initial trials to nationwide coverage. Financial institutions, in particular, have become the vanguards in promoting the transformation and upgrading of financial intelligence.

 

In response to the trend of digitalization, Sunline tailored a comprehensive digital invoice application solution for Guangfa Bank, covering multiple functions such as digital invoice issuance, verification, authentication, deduction, posting, tax declaration, and digital invoice management. This solution effectively integrates digital invoices with transaction flow information, significantly reducing the manual workload of supplementing transaction records with invoices and helping the bank achieve full electronic management of invoices.

 

After the project went live, Guangfa Bank achieved full online processing of special and general invoices in all scenarios. Bank customers can apply for and issue various types of value-added tax invoices through online channels such as corporate online banking, corporate mobile banking, personal mobile banking apps, and Discover Wonderful App, without the need for branches to mail invoices, thus saving time and costs associated with invoice delivery. This has further facilitated the bank’s tax management for customers in the “accelerated era.”

 

The successful implementation of this project reflects Guangfa Bank’s leading position in the field of tax digital invoice management and serves as a demonstration and leading role in the industry.

 

Looking ahead, as the trend of digital invoice applications unfolds, Sunline will continue to collaborate with more financial institutions to jointly drive the deepening transformation of financial intelligence and establish an outstanding example of digital transformation in the financial industry.

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About Guangfa Bank

Guangfa Bank, established in 1988, is a leading commercial bank in China with a comprehensive range of financial services. The bank has a robust network spanning across the country, offering a diverse array of retail banking, corporate banking, and financial market services. With a commitment to innovation and customer-centricity, Guangfa Bank strives to provide exceptional banking experiences for its customers. Its robust financial performance and strong capital position enable it to continue expanding its business and serving its clients with excellence.

About Sunline 

Shenzhen Sunline Tech Co., Ltd., also known as Sunline, is a globally leading provider of financial technology solutions. Since its establishment in 2002, Sunline has been dedicated to offering comprehensive financial IT solutions for financial institutions, covering core banking, internet finance, data management, and administrative services. In the wave of digital transformation, Sunline has leveraged its outstanding technological prowess and profound industry expertise to provide robust support for numerous banks and financial institutions in their digital transformation efforts.

As a vital pillar in the financial service strategy for rural revitalization, the national agricultural credit guarantee system bridges the gap between government, financial institutions, and farmers, ensuring a steady flow of financial resources to agriculture, rural areas, and farmers. With the continuous evolution of technologies like big data, cloud computing, and artificial intelligence, the rural financial landscape, competitive dynamics, and models of products and services are undergoing profound transformations. Consequently, amidst the drive for digital transformation, identifying a path toward high-quality development for agricultural credit guarantee operations has emerged as a pressing issue.

 

Heilongjiang Province Agricultural Financing Guarantee Co., Ltd. (referred to as “Longjiang Agri-Guarantee”), a leading enterprise within the national agricultural guarantee system, remains steadfast in leveraging technology to enhance its capabilities. In its ongoing digital transformation journey, the company has consistently achieved pivotal breakthroughs. In 2022, Longjiang Agri-Guarantee partnered with Sunline to initiate the development of a data platform project, focusing on the integration of “Digital Intelligence + Guarantees” to forge new avenues of financially empowering rural revitalization. This strategic collaboration aims to establish a core competitive edge in providing rural financial services.

 

Charting the Course:

In-Depth Diagnosis and Comprehensive Research

 

Confronted with a vast number of new agricultural operators scattered across a wide area and their information fragmented across various departments often incomplete, the project team meticulously assessed the current state of Longjiang Agri-Guarantee’s data infrastructure. Drawing upon extensive practical experience in big data domains, several issues were pinpointed:

 

Prominent Data Silos: Data interchange among different departments is hindered, resulting in high communication costs for inter-departmental data collaboration;

 

Insufficient Data Sharing: The efficiency of data exchange and sharing with external entities such as banks and the National Guarantee Alliance is low;

 

Data Quality Improvement Needed: Manual input, daily management, report generation, and analytical applications constitute a substantial part of the process, leading to heavy workloads, cumbersome tasks, and challenges in ensuring data accuracy.

 

Strategy Formulation:

A phased implementation of a customized construction plan

 

In light of the current status and future roadmap of Longjiang Agri-Guarantee’s data platform, the project team has devised a comprehensive one-stop solution aimed at incrementally advancing each interconnected phase. This approach seeks to broaden data sourcing channels and establish a robust data resource ecosystem centered on agricultural guarantee operations. By leveraging core data assets, the plan ensures unified data collection, processing, storage, service delivery, and governance, thereby unlocking the full value of data to facilitate informed business strategies and foster a sustainable industrial ecosystem.

Foundational Platform Setup: Develop a well-structured foundation encompassing overall architecture, data architecture, deployment architecture, and data application architecture. This will enable centralized data acquisition, loading, processing, and provisioning, tailored to Longjiang Agri-Guarantee’s IT landscape while incorporating industry best practices for deployment configurations and software setup.

 

Unified Data Acquisition and Isolation Resolution: Integrate disparate internal data from guarantee, finance, office automation systems, and external sources, achieving T+1 or near-real-time data capture. This consolidation forms a unified data panorama, eliminating data silos and furnishing Longjiang Agri-Guarantee with a comprehensive, precise, and timely data backbone.

 

Customized Data Modeling: Referencing the top ten thematic models in finance, eight bespoke thematic models are constructed based on the realities of Longjiang Agri-Guarantee’s operations, standardizing business data and enabling historical data lineage tracking.

 

Comprehensive Analytics for Informed Decision-Making: Supply the reporting platform and management dashboard with a diverse range of data interfaces across frequencies, dimensions, and granularities, presenting a holistic view of operational performance and trends. This flexibility empowers business users with advanced analytics and insightful business acumen.

 

Efficient, High-Quality Reporting: Capitalizing on the data warehouse’s enhanced quality and standardized models, data integrity and processing speed have significantly improved, fulfilling reporting standards while optimizing resource allocation and minimizing expenses.

 

Impressive Achievements:

Pioneer in the Digitalization of the Agricultural Guarantee System

 

Longjiang Agri-Guarantee’s groundbreaking new data platform became operational on March 31, 2024, marking substantial achievements since its launch.

At the operational level, the platform has ensured the timeliness, stability, and precision of data reporting tasks, and played a pivotal role in supporting a management dashboard display during a collaboration ceremony with ten provincial banks.

On the technical level, the platform introduced comprehensive architectural innovations:

 

Native Distributed Databases: Utilizing distributed storage and processing systems, it accelerates data read/write operations, reinforcing system reliability and scalability, and swiftly addressing data querying and analytical needs.

 

Full-Stack Information Technology Application Innovation Infrastructure: The data warehouse is comprehensively built on domestically driven information technology application innovations, ensuring steady operation within the domestic ecosystem, thereby securing the safety, reliability, and efficiency of data governance.

 

Low-Code Development Approach: Integrating Changliang Tech’s data exchange, development, and scheduling platforms has enabled configurable and automated data handling processes, enhancing development efficiency and effectiveness.

 

Complete Cloud Migration: Deployed on Heilongjiang Government Cloud, all systems leverage unified cloud resources, minimizing redundant digital infrastructure investments, optimizing resource allocation, and reducing construction and operational costs.

 

The successful rollout of Longjiang Agri-Guarantee’s data platform sets a firmer footing for its “asset-light,” “lean workforce,” tech-empowered modern rural finance strategy, symbolizing a full-scale transition into a new digital development era.

 

Blueprint for the Future:

Empowering with AI, Elevating with Data Intelligence

 

Longjiang Agri-Guarantee’s current data warehouse primarily handles batch-processed structured data. In the future, it will support a more diverse range of data types, including structured, semi-structured, and unstructured data.

 

By harnessing advanced analytics technologies, the data platform can integrate data from various sources, providing deeper and more comprehensive business insights. This transforms the data platform from a mere repository of historical data into a platform capable of supporting real-time analysis and unlocking additional data value.

 

The data platform will explore incorporating cutting-edge technologies such as large-scale models to enhance the efficiency of data cleansing, transformation, and analysis, reducing manual intervention and improving the accuracy and efficiency of data processing. An intelligent data platform can automatically adjust resource allocation and optimize query performance based on business needs, delivering more precise data analysis results.

 

In the future, Sunline will continue to monitor Longjiang Agri-Guarantee’s evolving business needs, continuously optimizing and refining solutions to create greater value in financial services for rural revitalization.

 

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About Longjiang Agri-Guarantee

 

The Heilongjiang Provincial Agricultural Financing Guarantee Co., Ltd., as a pioneering provincial policy-based agricultural credit guarantee institution, specializes in offering financing solutions to agricultural operators, driving industrial upgrading and rural revitalization in Heilongjiang Province. With a registered capital of 6.58 billion RMB and a comprehensive financial service network, the company effectively alleviates financing challenges in agriculture, stimulates rural economic growth, and contributes to the modernization of agriculture in Heilongjiang and across China.

 

About Sunline

 

Sunline as a leading enterprise in the fintech sector, specializes in providing intelligent financial IT solutions to global financial institutions, accelerating their digital transformation. Leveraging its profound expertise in core banking systems, data analytics, and internet finance, Sunline empowers banks, securities firms, funds, and more to streamline operations and enhance data-driven capabilities. By integrating cloud computing, big data, and artificial intelligence technologies, Sunline constructs secure and efficient digital platforms, fostering innovation in financial services and significantly contributing to the worldwide digitalization of economies.

The “Huawei China Partner Conference 2024” with the theme “Emerged from convergence, digital intelligence drives our greatness” was grandly held in Shenzhen. Shenzhen Sunline Tech Co.,Ltd, in partnership with Huawei, unveiled a joint new distributed core banking solution. The goal is to provide reliable support for the high-quality development of the financial industry through a highly available, high-performance, secure, and stable core system that is flexible and scalable, leveraging Huawei’s strong technical capabilities.

 

Sun Shisheng, Assistant President of Sunline, Tang Shi, Deputy General Manager of the DFB solution Department, Wang Yongqiang, Global Ecosystem President of Huawei’s Digital Finance Army, and Yang Lifan, Senior Architect of China’s Government and Corporate Financial Solutions, were among those who attended the launch ceremony together.

Joint Solution Launch Event Site

Tang Shi, Deputy General Manager of the DFB Solutions Department at Sunline, stated: “By deeply cultivating the digital transformation and intelligent upgrading of the financial industry, Sunline partners with Huawei to build a full-stack, independently innovative digital foundation. With our cutting-edge open technology and architecture, we aim to create value for our clients. More financial institutions can better achieve core transformation and upgrading based on the joint new distributed core banking solution from both Sunline and Huawei.”

The keynote speaker, Tang Shi, Deputy General Manager of the DFB Solutions Department at Sunline

As digital transformation accelerates, the financial industry faces increasing challenges and opportunities. Rapidly evolving business needs and continuously innovative business models require the core system, often referred to as the “internal engine” of a bank, to be highly available, reliable, and performant. The distributed architecture transformation of bank core systems is both timely and necessary, responding to the demands of the current business environment. Issues such as system performance degradation during peak business hours, threats to data security, and insufficient system scalability severely constrain the innovative development of financial institutions.

Against this backdrop, Sunline has forged a collaboration with Huawei. Leveraging the latest capabilities of Huawei Cloud Finance PaaS3.0 and GaussDB, they have crafted a highly elastic and reliable distributed unitized architecture. By adopting a unitized approach, they have narrowed the fault radius down to the unit level, enabling multi-site and multi-active capabilities at the unit level. This approach simultaneously enhances business SLA, providing financial institutions with round-the-clock, secure, reliable, and agile technical services for their business development.

 

The joint new distributed core banking solution comprehensively covers the core business applications of banks. Leveraging the fully self-innovated ICT infrastructure including Huawei Cloud Stack, GaussDB, Kunpeng servers, and more, it meets the technical and business requirements of banks through microservices and unitized design, supporting their rapidly developing business needs in the future. This solution offers the following technical advantages:

High Performance: Leveraging Huawei’s leading hardware-software co-optimization capabilities, the solution fully satisfies the performance requirements of core business scenarios. Through extensive collaborative tuning, it achieves more than a 50% improvement in various indicators compared to traditional centralized architectures.

High Availability: The solution employs multiple redundancy and fault-tolerant mechanisms to ensure the system’s continuous operation even in cases of hardware failures, network outages, or other unexpected situations, thus guaranteeing business continuity.

Flexible Scalability: The solution offers excellent scalability, allowing for flexible expansion and upgrades based on the growth and changes in banking business. This eliminates the need for large-scale system reconstructions, thereby reducing costs and risks.

Security and Stability: The solution incorporates robust security mechanisms, including data encryption, user authentication, and access control, to enhance the security and privacy protection of banking data. This significantly reduces the risk of business interruptions due to system failures or security vulnerabilities.

Launch Venue

The collaboration between Sunline and Huawei aims to integrate both parties’ technological advantages and industry experience, jointly leading and driving the implementation of solutions in the core banking sector. Looking ahead, both parties will deepen their cooperation and innovation, jointly promoting the transformation and upgrading of core banking systems, accelerating digitization and intelligence together, and providing customers with even more superior, efficient, and secure products, solutions, and services.

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About Huawei

Huawei, founded in 1987, is a globally leading technology company headquartered in Shenzhen, China. Besides its prominent position in the telecommunications equipment and smartphone sectors, Huawei has also made significant strides in the field of digital finance. By offering innovative technologies such as cloud services, big data analytics, artificial intelligence, and security solutions, Huawei provides robust support to financial institutions, helping them enhance operational efficiency, mitigate risks, and drive industry innovation.

 

About Sunline

Sunline, a global leader in financial technology solutions, was founded in 2002 with its headquarters located in Shenzhen. Sunline specializes in providing comprehensive financial IT solutions for financial institutions, including core business, internet finance, big data, and management services. Particularly in the area of banking core solutions, Sunline leverages its mature core products, comprehensive team structure, and multi-level talent pool to provide efficient and stable banking core systems for numerous banks, enabling them to achieve digital transformation and business innovation.

On March 10th, a delegation led by Chen Jiming, the President of Hangzhou Dianzi University (HDU), visited the Shenzhen Bay headquarters of Sunline for research and exchange. Wang Changchun, the Chairman of Sunline and an alumnus of HDU’s Computer Science Department, expressed a warm welcome to the visiting delegation.

During the symposium, Chairman Wang Changchun first introduced the company’s development history, technological innovation achievements, and global layout. Recalling his past academic years at HDU, Chairman Wang’s words were filled with nostalgia and gratitude towards his alma mater. “I set out from HDU to join the wave of China’s IT industry, and it has been over 30 years since then, but the spirit of the school motto ‘Studious and Pragmatic, Upright and Innovative’ has always been engraved in my heart,” he said. He expressed that alumni and their alma mater are not only a community of values but also a community of emotions and development, with a natural basis for cooperation. Sunline looks forward to working with HDU, based on their respective strengths, to achieve a strong alliance and mutual benefits, contributing to the enhancement of the global competitiveness of China’s financial technology industry.

President Chen Jiming shared the recent developments at HDU in talent cultivation, discipline construction, and scientific research achievements. He discussed how HDU upholds the philosophy of “sending graduates to outstanding positions,” steadily promoting the high-quality development of financial talent cultivation. As a leader in the financial technology sector, Sunline has established significant influence and leadership both nationally and globally. Facing the new era and journey ahead, HDU and Sunline share a common responsibility, pursuit of value, and commitment to their mission. Both parties have extensive areas of cooperation and deep potential for collaboration in the fields of financial technology and the digital economy. President Chen expressed his hope that HDU and Sunline can work together in the future to open a new chapter of deep cooperation.

In addition, both sides engaged in in-depth discussions on topics such as visiting enterprises to explore job opportunities and deepening Industry-University-Research collaboration, striving to achieve mutual success and common progress in even broader areas.

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About Hangzhou Dianzi University

Hangzhou Dianzi University (HDU) is a teaching and research university with a prominent electronic information characteristic and significant advantages in management and economics disciplines. The university’s various disciplines, including engineering, science, economics, management, liberal arts, law, and arts, are interpenetrating. HDU adheres to the principle of “based in Zhejiang, relying on the industry, facing the world, serving society, and supporting national defense.” Upholding the fine tradition of “unity, diligence, realism, and innovation,” HDU promotes the spirit of the school motto “Studious and Pragmatic, Upright and Innovative,” which has formed a distinct educational characteristic.

About Sunline

Established in 2002, Sunline is China’s leading provider of banking software and technology services. Since going public in 2012, it has expanded globally with over 6,000 employees serving 800 banking and finance clients. Sunline is a global financial technology leader, continuously innovating its solutions by integrating the latest technology trends with industry best practices to deliver comprehensive and secure financial solutions. With international offices in key financial hubs such as Hong Kong, Malaysia, Thailand, Indonesia, Singapore, and the Philippines, Sunline solidifies its presence in the Asia Pacific financial IT market.

Navigate Future of Finance—Asian Financial Leaders Forum 2024 Recap

Kuala Lumpur, Malaysia, March 8, 2024  – The Asian Financial Leaders Forum 2024 Malaysia with the theme “Navigating Future of Finance” was successfully held in Kuala Lumpur, the capital city of Malaysia. Hosted by Sunline, and co-hosted by our partners Huawei, Cardzone, JurisTech, and Cloudpoint, the event has attracted more than 100 experts and leaders from finance, IT, and various fields gathered together.

The synergy between Sunline and our esteemed partners, Huawei, Cardzone, JurisTech, and Cloudpoint, ignited a powerful spark at the Asia Financial Leaders Forum Malaysia 2024. This collaborative energy fueled insightful discussions, sparked innovative ideas, and illuminated strategic pathways in the dynamic landscape of fintech. Together, we harnessed the collective expertise, creating a blaze of inspiration that will continue illuminating finance’s future. The sparks between our partners and Sunline have not only elevated this event but also set the stage for ongoing collaboration, driving positive change in the fintech realm. We look forward to nurturing and expanding these sparks into a sustained flame of innovation and progress in the financial industry.

Pooling Expertise to Steer the Future of Fintech

Over 100 experts gathered to deepen understanding and guide enterprises in the dynamic financial sector. Keynote speeches from Sunline, Huawei, JurisTech, Cardzone, and Cloudpoint experts provided diverse perspectives. The forum promoted cross-industry idea exchange, integrating knowledge for strategic insights. 

Highlights from the Keynote Speeches:

• Welcome speech by Jack Wang, Managing Director of Sunline (Malaysia), set the tone for collaborative fintech evolution, emphasizing the transformative power of international partnerships, Sunline’s key milestones, and a vision for inclusive growth in the financial sector.

• Ken Siew, Chief Solutions Officer at Sunline, presented on “Open Banking and Beyond: Building a Sustainable Financial Future,” emphasizing the transformative role of advanced technology and the potential of generative AI.

• Muhamad Fahmi bin Mustafa, Head of Islamic Banking at Sunline, shared insights on “Agile Core Banking: Navigating Change in a Dynamic Financial Landscape,” underlining the need for banks to embrace agility.

• Lim Huck Siang, CDO at Huawei Asia Pacific FSI, covered “Resilience in the Age of Digital Innovations,” focusing on business resilience in the digital era.

• Naaman Lee, COO of JurisTech, explored “Thriving in the New Era of Innovation,” discussing strategies for enterprises.

• Chin Min Fei, CEO of Cardzone, presented on “Making Payment Systems More Inclusive,” emphasizing technology’s role in fostering inclusivity. 

These brief presentations collectively enriched the forum, providing varied insights into fintech’s current landscape and adaptive strategies for the dynamic financial sector.

Envisioning the Future

The 2024 Asia Financial Leaders Forum concluded on a triumphant note, as participants collectively envisioned a dynamic future for the fintech sector. The forum served not only as a platform for in-depth discussions among industry experts but also as a visionary architect, meticulously sketching a clear blueprint for the future development of the financial industry. The event’s success delivered unique strategic insights to all attendees, promising to inject new vitality into financial practices.

As the curtains gracefully fall on this forum, the shared knowledge, diverse perspectives, and forward-thinking strategies imparted during the event stand as potent catalysts for shaping a resilient and innovative future in finance. Expressing heartfelt gratitude to all participants, we eagerly anticipate witnessing the transformative application of these insights in the dynamic realm of fintech. Stay tuned for an ongoing journey of updates and explorations into the forefront of financial innovation.

Shenzhen University and Sunline: Joining Forces to Cultivate ‘Artificial Intelligence+’ and Pioneer a New Era of Industry-University-Research Collaboration

On March 6th, Shenzhen University and Sunline formally signed a cooperation agreement in Shenzhen to establish the “Artificial Intelligence in Financial Software Engineering Joint Laboratory.” The two parties will collaborate on innovative applications of artificial intelligence in the field of financial software engineering, jointly research core scientific and technological advancements, promote the industrialization of scientific research achievements, and actively respond to the national strategy for developing a new generation of artificial intelligence.

It is reported that against the backdrop of the “Report on the Work of the Government” during the Two Sessions, where “New Quality Productive Forces” and “Artificial Intelligence+” were highlighted as key annual terms, both parties view this collaboration as a pioneering exploration in tune with the pulse of the times. As we advance into the digital age, the digitization and intelligence of productivity are significant hallmarks of new quality productive force , and they represent the fundamental trend of productivity development under the conditions of a new round of scientific and technological revolution and industrial transformation. Deepening the research and development application of big data and artificial intelligence technologies, and unleashing productivity with “scientific and technological innovation playing a leading role” is the crux of high-quality development.

At the signing ceremony, Mao Junfa, the President of Shenzhen University and Academician of the Chinese Academy of Sciences, expressed that over the past 40 years since its establishment, Shenzhen University has been committed to innovation and has collaborated with numerous enterprises to drive the industrial application and commercialization of research outcomes, achieving remarkable results. Sunline is a leading enterprise in the field of financial software systems. Mao hopes that this signing will serve as an opportunity to leverage the strengths of both parties in educational and industrial resources, focusing on translating application demands into a significant driving force for technological progress. This collaboration aims to create a closed loop of “Industry-University-Research-Application” in the “Artificial Intelligence+” sector and establish a new paradigm for university-industry cooperation.

Sunline’s Chairman, Wang Changchun, discussed the transformation of productivity brought about by artificial intelligence in the context of the financial industry’s development. “Technological innovation gives rise to an efficiency revolution and a transformation of kinetic energy. The rapid development of artificial intelligence and large model technologies will significantly accelerate the production efficiency of software engineering, completing the shift from labor-intensive to intelligence-based operations, and thereby fully unleashing digital productivity, creating immeasurable social value. As the lifeblood of the national economy, the financial industry must take the lead in this technological transformation. Our partnership responds to the national call for ‘realizing a positive cycle between technology, industry, and finance,’ and it is timely.”

Both parties emphasized that Shenzhen, a fertile ground for technological innovation, is the ideal platform for a win-win collaboration between Shenzhen University and Sunline. “Daring to be the first in the world” and “keeping feet on the ground” are not only the genes of Shenzhen’s city spirit but also a common label for every innovator and entrepreneur rooted in this land. Based on a consistent philosophy and shared values, Sunline will work hand in hand with Shenzhen University to deepen their capabilities in core technological breakthroughs, accelerate the application of artificial intelligence innovations in the field of financial technology, serve the digital transformation of financial institutions, and assist the nation in achieving high-level self-reliance and strength.

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About Shenzhen University

Shenzhen University, as a window university, a special economic zone university, and an experimental university, is also the only comprehensive university in Shenzhen. In recent years, it has achieved outstanding results with multiple disciplines ranking among the top in ESI, a global ranking of 90th in the Nature Index, and having the highest number of PCT international patent applications among domestic universities for three consecutive years. Currently, the university has become a high-level comprehensive university with distinctive characteristics, strong strength, and a good reputation and significant influence both at home and abroad.

About Sunline

Established in 2002, Sunline is China’s leading provider of banking software and technology services. Since going public in 2012, it has expanded globally with over 6,000 employees serving 800 banking and finance clients. Sunline is a global financial technology leader, continuously innovating its solutions by integrating the latest technology trends with industry best practices to deliver comprehensive and secure financial solutions. With international offices in key financial hubs such as Hong Kong, Malaysia, Thailand, Indonesia, Singapore, and the Philippines, Sunline solidifies its presence in the Asia Pacific financial IT market.

In a recent meeting at Sunline’s headquarters in Shenzhen, CIMB Vietnam and Sunline continued the partnership commitment after a 5 years collaboration to revolutionize banking services through advanced technology integration and foster digital innovation.

This enduring commitment aims to revolutionize banking services through advanced technology integration and foster digital innovation. The collaboration between CIMB Vietnam and Sunline has been ongoing for five years, signifying a sustained effort to propel advancements in the banking industry. By integrating cutting-edge technologies from Sunline, CIMB Vietnam seeks not only to modernize but also to revolutionize core banking services, providing an enhanced and unparalleled experience for its valued customers.

Empowering Teams Through Technical Training

In a strategic move to bolster CIMB Vietnam’s technological prowess, a bespoke three-day training program has been meticulously designed, coinciding with their pivotal meeting in the dynamic tech hub of Shenzhen. Specifically tailored for CIMB’s key technical team, this intensive initiative aims to fortify their understanding of the adoption and operation of Sunline’s cutting-edge solutions.

Conducted during CIMB Vietnam’s visit to our headquarters in Shenzhen, this comprehensive technical training program underscores CIMB Vietnam’s commitment to nurturing a knowledgeable and skilled workforce. The initiative, facilitated by Sunline, positions their team to be adaptive and well-prepared for the challenges of tomorrow. This dedication to technical excellence ensures a seamless transition and optimal utilization of Sunline’s advanced systems, solidifying CIMB Vietnam’s position at the forefront of technological innovation in the banking industry.

Leadership in Focus: Li Jin Song and Rachel Nguyen

During the important meeting in Shenzhen, China, Li Jin Song, CEO of Sunline Group, and Rachel Nguyen, CTO of CIMB Vietnam, engaged in discussions about the intricacies of this collaborative effort. This face-to-face interaction emphasizes a commitment to the partnership’s success, ensuring a shared understanding of the vision for pioneering advancements in the banking industry.

Li Jin Song, CEO of Sunline Group (on the left), alongside Rachel Nguyen, CTO of CIMB Vietnam (on the right)

A 5-Year Partnership’s Evolution

Building upon the foundation of their successful 5-year partnership with Sunline, CIMB Vietnam embarked on a journey that transcends routine upgrades. This new chapter symbolizes a turbocharge for CIMB Vietnam’s core banking infrastructure, designed not only for modernization but for an outright revolution in the banking experience.

Throughout the partnership, Sunline and CIMB Vietnam have stood shoulder to shoulder, combining technological prowess with banking acumen. This period is not merely a duration but a narrative of continuous collaboration, marked by shared successes and a commitment to pushing the boundaries of what is possible in the financial sector.

Anticipating Tomorrow’s Needs: Sustained Growth

As we gaze into the future, the collaboration between CIMB Vietnam and Sunline unveils promising horizons for continuous cooperation. Going beyond the immediate integration of Sunline’s cutting-edge technology, both entities actively engage in continuous research and development. This involves foreseeing market trends, co-creating tailored solutions to address evolving customer needs, and embarking on joint initiatives to expand their influence in the ever-evolving financial landscape.

This forward-looking partnership, with a keen eye on tomorrow’s needs, establishes the foundation for sustained growth. In conclusion, this strategic alliance orchestrates a harmonious symphony that not only foretells the future of banking services but actively shapes it. As the sun rises on this innovative partnership, Sunline eagerly anticipates illuminating new horizons in the ever-evolving world of finance.

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About CIMB Vietnam

Established in 2016, CIMB Bank Vietnam is a part of CIMB Group, a leading global bank in ASEAN with extensive experience and expertise in the region. CIMB Bank Vietnam pioneered the digital banking model within the Group’s franchise, making it stand out as one of Vietnam’s leading and forward-thinking digital banks. Headquartered in Hanoi and with a branch in HCMC, CIMB Bank Vietnam offers a diverse array of banking solutions catering to individuals, businesses, and corporations.

About Sunline 

Established in 2002, Sunline is China’s leading provider of banking software and technology services. Since going public in 2012, it has expanded globally with over 6,000 employees serving 800 banking and finance clients. Sunline is a global financial technology leader, continuously innovating its solutions by integrating the latest technology trends with industry best practices to deliver comprehensive and secure financial solutions. With international offices in key financial hubs such as Hong Kong, Malaysia, Thailand, Indonesia, Singapore, and the Philippines, Sunline solidifies its presence in the Asia Pacific financial IT market.

For the banking industry, regulatory data submission is no trifling matter. As regulatory trends grow increasingly evident, banks find themselves grappling with demands for detailed, comprehensive, and high-frequency regulatory compliance, with exacting standards for data quality.

Historically, banks have encountered numerous pain points during data submissions. Issues such as doubts regarding data authenticity, lagging timeliness of submissions, discrepancies in regulatory interpretation, disparities between detailed and aggregated data, inefficiencies in temporary regulatory task execution, and sluggish cross-domain data linkage have posed significant challenges to banks in regulatory adherence.

Hence, the urgency of establishing a unified regulatory data framework is palpable.

 

In recent times, certain banks in Jiangsu and Zhejiang provinces in China have proactively responded, initiating development plans for novel reporting systems. Among these, a leading city commercial bank in Jiangsu is currently handling data in the reporting area of the “Unified Reporting System,” offering desensitized data loaded into the trusted area. Meanwhile, a rural commercial bank leverages its data warehouse to supply data for “Unified Reporting System” submissions through a regulatory data mart. Simultaneously, a city commercial bank in Zhejiang has achieved efficient and high-quality data reporting by crafting the “Unified Reporting System.”

Sunline deeply involved

 

What’s heartening is that the pilot construction of the “Unified Reporting System” in the aforementioned three banks in Jiangsu and Zhejiang provinces deeply involves Sunline. As a specialist in the realm of data submission, Sunline has been deploying equipment and building systems in multiple pilot banks since the commencement of the “Unified Reporting System” pilot. Through several project validations and product iterations, Sunline’s “Unified Reporting System” solution has been refined, empowering financial institutions to achieve comprehensive construction of the “Unified Reporting System,” encompassing both the reporting area and trusted area, while fully meeting the latest trial version of the “Bank Unified Reporting System Regulatory Data Collection Interface Standard (Version 2.0).”

Sunline’s “Unified Reporting System” boasts a plethora of advantages:

 

• Seamless integration of regulatory data: Sunline leverages a unified regulatory data mart to realize one-time collection and multiple reuse, mitigating inconsistencies between different reporting systems.

• Rapid deployment: Sunline’s solution facilitates one-stop configuration and reporting via a unified regulatory reporting platform, expediting the rollout of “Unified Reporting System” functionality.

• Comprehensive data quality monitoring: Built upon comprehensive and rich data quality validation rules, Sunline’s solution ensures thorough data validation and monitoring throughout the reporting process, meeting data quality requirements amidst high-frequency reporting of the “Unified Reporting System.”

• Abstraction of technical details: Sunline abstracts technical intricacies by furnishing standard service interfaces, bridging the regulatory end and the institution’s trusted area, thus shielding underlying storage and technical disparities and facilitating service and data interaction.

Looking ahead, the “Unified Reporting System” is poised to achieve integration, connection, and seamless transition with reports such as EAST, 1104, and customer risk. The nationwide promotion speed and version upgrade pace have entered the fast lane, presenting significant challenges to financial institutions.

 

To ensure the high quality and timely rollout of the “Unified Reporting System,” Sunline’s solution is grounded in professional implementation methodologies, offering comprehensive implementation services encompassing new policy interpretation, overall construction planning, data quality assessment, and business and technical integration. This aids clients in swiftly and efficiently erecting the “Unified Reporting System” regulatory data collection platform, meeting regulatory requisites including reporting standardization, timeliness, flexibility, high performance, and fundamental environmental construction.

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About the “Unified Reporting System”

 

Led by financial regulatory agencies, the “Unified Reporting System,” trialed in Zhejiang Province in 2021, conducts intelligent supervision trials. This system, by establishing unified regulatory data standards covering all banking businesses, furnishes unified validation rules and data extraction rules, while requiring financial institutions to establish a trusted area (reporting area) for regulatory data. This enables regulatory agencies to flexibly access, query, and process data via data services, thereby enhancing regulatory efficiency and ultimately forming a financial supervision data ecosystem, achieving co-construction, sharing, and co-governance.

About Sunline

Established since year 2002, Sunline is the leading banking software and technology services company in China. Public listed in year 2012, Sunline has more than 6000 employees worldwide serving beyond 800 banking and finance customers. As the global financial technology leader, Sunline is continuously reinventing our solutions by integrating latest technology trends with industry best practices to provide comprehensive and secure financial solutions.