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With the official release of the China Banking and Insurance Regulatory Commission’s (CBRIC) Banking Financial Institutions Supervision Data Standardization Specifications 2021 Edition (EAST5.0), the regulatory authorities have continuously improved the data quality and business compliance requirements of financial institutions. Recently, Sunline has won the bid for the unified supervision platform project for Zhongyuan Bank as well as a city commercial bank in Northwest China with its efficient and leading comprehensive supervision solutions, taking solid steps to realize digital transformation in the supervision field.

On March 25, the official website of the China Banking and Insurance Regulatory Commission published a blockbuster news, which issued fines to 21 banks with issues in the field of regulatory standardization data quality, with a total penalty amounting to RMB 87.6 million, covering 3 policy issuing banks, 6 large state-owned banks, and 12 joint-stock banks.

After April 2020, the China Banking and Insurance Regulatory Commission once again issued a ticket for the quality of EAST data submission, which undoubtedly sounded the alarm for major domestic financial institutions.

According to the requirements of the new EAST 5.0 regulations, the China Banking and Insurance Regulatory Commission has upgraded the collection scope, submission requirements and data quality of commercial bank data standardized data submission, furthering improved the completeness, completeness and standardization of data collection and submission.

For financial institutions, supervision is no longer just about completing regulatory data reporting, instead, promoting data governance, business compliance development, and digital transformation has become a new proposition for financial institutions.

As the only provincial-level bank in Henan Province, Zhongyuan Bank adheres to the development goal of “making Zhongyuan Bank a first-class commercial bank”. Faced with the new situation of detailed, comprehensive and high-quality strict supervision, Zhongyuan Bank officially launched the new project of a unified supervision reporting platform and a unified supervision market, continuing to improve the quality of supervision data submission.

The unified supervision reporting platform independently developed by Sunline takes the unified model of the supervision market as the “backbone”, adopts the concept of “mid-end”, and carries out a full-featured and capable support design. In addition to the sending function, it can also realize data quality analysis and issue quality reports, which greatly improves the consistency, accuracy and integrity of the submitted data, and can realize the “one-stop” supervision and reporting of the whole process of management and control.

Based on profound industry insights and practical experience, and with mature solutions in regulatory data governance and regulatory data reporting, Sunline won the unified supervision platform project of Zhongyuan Bank in one fell swoop!

Through the construction of 7 regulatory reporting subsystems including the EAST system for Zhongyuan Bank, Sunline will help the bank to unify the external reporting caliber of each reporting module, elude repeated data collection and redundant storage, and improve data processing efficiency.

In the era of “strict supervision”, Sunline has the ability to provide banks with comprehensive solutions for high-quality supervision. However, the road to regulatory data governance is long and difficult, and there is still a long way to fully and efficiently analyze regulatory data needs, improve regulatory data quality, implement data responsibilities, and promote problem rectification. Sunline will continue to provide financial institutions with mature, robust and forward-looking products and service solutions, helping financial institutions to realize the value of data and accelerating the promotion of data-driven digital transformation.

On March 29, hundreds of participants, including leaders and subject matter experts from the financial industry convened at the hybrid full-day high-level forum, the 2022 Malaysian Banking and Finance Summit (MBFS) to feel the pulse of the economy and the Malaysian banking industry, discuss key trends, strategic challenges and key issues, and converse the future proofing of banking post pandemic to gear up for recovery. As the global pioneer and leader in financial technologies, Sunline was once again invited to speak as a technological partner at the annual summit.

The global pandemic, into its third year, is continuing its disruption to business, banking and society and uncertainties continues with nations grappling with the spike in cases. As banks play a critical role in national economic recovery, their swift recovery will help accelerate economic recovery and enable banks to be more supportive towards industries particularly small and medium enterprises (SMEs). These disruptions see the need for banks to be more adaptive and responsive to the challenges and changes and moving forward, banks not only need to be future-ready, but also future-proof to cope with economic, technological and societal disruptions.

During the summit, Matthew Chen, CEO of Sunline Holding has represented Sunline to share his insights on how banks can optimize technologies and innovations to future-proof their businesses and gear up for more intense competitions. To be future-ready, banks will first need to embrace the changes caused by the technologies, view them as opportunities rather than viewing them as disruptions and threats. He also imparts that collaboration is key for banks to stay relevant in the new era to realize banking is anytime, anywhere. 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 that will undoubtedly help traditional financial institutions thrive in the new era. 

The “Fintech Development Plan (2022-2025)” emphasizes that financial institutions should comprehensively strengthen data capacity building, fully activate the potential of data elements, and effectively improve the quality and efficiency of financial services. Data asset management has become an important driving force for financial institutions to accelerate digital transformation.

Sunline has successively provided data asset management products and solutions for more than 100 financial institutions in the banking and securities industries. Since 2016, Sunline has further developed the financial company market and successively provided big data Solutions for 12 financial companies. Recently, Sunline has successively won the projects for FAW Financial Data Asset Management Platform and Data Indicator and an Asset Project for a large financial companies, enabling these financial companies to give full play to the value of data assets.

Data capitalization is imperative

Facing the “14th Five-Year Plan”, the task of digital transformation of financial companies is more urgent. Establishing an efficient and secure data asset management platform, promoting data transparency, convenience, and accessibility, and realizing business data assetization have become urgent problems for major financial companies to solve.

However, compared with the rich technical reserves and practical accumulation of banks in the field of big data, the exploration of data capitalization by many financial institutions, including financial companies, has just started. Faced with the complicated and massive data information, finding an effective financial management method for data asset management is still in the exploratory stage for most financial companies due to:

1. Lack of a complete data asset management system, making it difficult to plan data asset management from a macro and overall perspective.

2. Lack of guidance on data asset management practice paths and staged outputs.

3. Weakened data value as the driving force for data asset management makes it difficult to promote a virtuous circle of data operation and business innovation.

If companies dare to be a pioneer, every step creates history. As a leading domestic financial company, FAW Finance and another large financial company took the lead in pioneering the field of data asset management.

FAW Finance Corporation drives digital transformation with data as the engine

Under the guidance of China FAW’s overall digital strategy of taking core and data as the engine, FAW Finance started a data asset management platform project in early 2022, aiming to realize data asset catalog management, data standard management, data quality management, metadata management, and other integrated functions.

FAW Finance was established in 1987. As of 2020, there are 11 automobile industry finance companies in the country, and FAW Finance Company ranks first in ROE. After years of digital exploration, FAW Finance has accumulated abundant data resources. Facing the continuous acceleration of the digitalization process, it is imperative to use data as the engine to give full play to the value of data assets.

Sunline accurately positioned the needs of FAW Finance in the transformation stage, and the self-developed data asset management platform was highly suitable for the project needs, winning the project in one swoop.

By establishing an efficient and secure data asset management platform, Sunline will help FAW Finance carry out unified inventory, maintenance, and management of data assets, laying a solid foundation for business applications and data acquisition. With the continuous and dynamic full life cycle management process, data assets can provide continuous power for the digital transformation of the company.

A large financial company breaks data silos and shares data resources

A large financial company with main operating indicators among the best in the industry has responded to the group’s digital transformation requirements and improved data efficiency, launched the “Data Indicators and Assets Catalog” project in early 2022.

Sunline customized a comprehensive solution for the island problem faced by the financial company’s data platform:

1. Establish a unified index platform, integrate and unify the company’s internal index caliber, meeting business requirements such as business analysis and regulatory submission.

2. Conduct a comprehensive inventory of data assets, build a data security management system with data assets as the core, improve the security and life cycle management of data assets, ensure data security compliance and maximize data value.

With the data platform of the large financial company entering the stage of application construction with data value extraction and empowerment, the implementation of this project will help open up online and offline data processes, realize standardized management of data indicators, improve the quality of data assets, and allow data resources to be shared to create greater value.

Sunline has been deeply involved in the big data business for many years. Facing the urgent transformation needs of financial institutions in the era of big data, the company continues to strengthen its full-stack big data capabilities, provide customers with high-quality solutions and service experience, and make full use of the open and agile financial technology ecosystem to empower customers’ digital transformation to continuously operate data assets and mine data value.

With the development of interest rate liberalization, the spread of interest rate spread is gradually narrowing and the profit pressure for commercial banks is greatly increased. The mushrooming of private banks also intensifies peer competition. In addition, the acceleration of financial innovation and disintermediation severely challenges the market competitiveness and profitability of commercial banks. In order to prevent systemic financial risks, the state has become stricter in supervision with higher top-down management requirements and control capabilities of commercial banks.

The future management of banks is bound to develop in the direction of refinement and differentiation. Performance management is precisely an important management method for endogenous growth and comprehensive performance management has become the key to the successful digital transformation and upgrading of financial enterprises.

The concept of operating middle-office and financial digitization by value can achieve the effect of “a thousand-pound distribution”.

The performance management business of Sunline has been deployed since 2007, assembling a group of professionals in the performance subdivision field to form a complete team covering the entire product line. Relying on the group’s business understanding of the banking industry, and the depth of the value management concept using the advantages of core transactions, big data processing, and other aspects, the team’s efficient collaborative work and agile service support ensure that each project exceeds the expected implementation effect, and ultimately achieving the core position of “unicorn” in the field of performance management in the financial industry.

Since 2020, Sunline has achieved remarkable results in the performance management market, whether it is new business opportunities or market projects. The frequent reports of good news and the siege of the city are the verification of the strength of Sunline, and the recognition of the top customers is the best advertisement for the company:

1. Winning the project for the rural commercial bank with the largest asset scale in the country signifying that it has absolute competitiveness in the rural commercial bank system.

2. Winning the project for the national benchmark top city commercial bank, marking a prominent leading position in the big bank.

3. Won the project for a state-owned policy bank and an international bank, further increasing its foothold in the big bank.

4. Winning the projects for Fujian Provincial Associated Press and Taipusi Rural Commercial Bank, marking not only leading the big banks but also starting to lead the provincial rural credit and small and medium-sized farmers’ commercial performance management market.

5. Winning the projects of Guiyang Rural Commercial Bank, Suining Bank, Ningbo Donghai Bank, etc., marking the advanced experience to other surrounding customers.

Big banks are taking advantage of the situation to practice digital assessment

Sunline provides performance management system services for more than 70 bank customers. In recent years, all kinds of leading banks and large featured banks pay more attention to improving their management level with technology and empowering their businesses with an efficient performance management system.

From the comprehensive perspective of comprehensive value management, Sunline introduces the concept of value management in the mid-end stage, and creates a digital management system with “three-dimensional assessment, intelligent process, and visual management” for banks of trillions and 100 billion, helping banks to comprehensively improve the efficiency of operation and supervision and management, improve the business level and operating efficiency, and ultimately promote the development of digital transformation.

Comprehensive closed-loop management

Taking a state-owned policy bank and Shenzhen Rural Commercial Bank as examples, problems such as insufficient uniformity of data caliber, high degree of manual dependence, insufficient degree of processes, unclear performance, and insufficient segmentation of assessment products are becoming more obvious in the process of business development.

The performance management system of Sunline decomposes the annual strategy into performance analysis, forms a closed loop of strategy-task-assessment-analysis management, realizes multi-dimensional, multi-index, and whole-process combined evaluation, which effectively motivates and promotes the implementation of bank strategies.

Complete value chain assessment

Taking a leading city commercial bank and an agricultural commercial bank with the largest asset scale as an example, the performance management system scattered in various business lines has been unable to quickly respond to the differentiated assessment of multiple institutions, positions, and lines needs with the rapid development of the business.

The performance management system of Sunline focuses on different business activities and promotes the bank to realize the differentiated assessment of all employees from top to bottom and from the front to the back. Differentiated services to achieve fair and reasonable assessment improves the enthusiasm of employees.

Diversified auxiliary expansion

Taking foreign bank as an example, the implementation of a series of strategic projects such as “retail transformation” and “digital transformation of supply chain finance” during the restructuring of a Sino-foreign joint venture bank into a Chinese-funded commercial bank has instigated urgent needs to stimulate the business potential of the entire bank.

Sunline’s performance management system implements the “customer-centric” theory, allowing the bank to maintain and expand customers anytime and anywhere through performance management, customer portraits, and customer management drives the enthusiasm of employees and promotes the development of bank performance.

The middle-office system capabilities drive overall innovation growth

Strengthening the digital construction of performance management systems is a new way of performance management of commercial banks.

Sunline Performance Management System, on the basis of rich implementation experience and precise control of business development, integrates in-depth analysis of the concept of value management in the middle-office and establishes a unique value performance management system.

1. Rich and flexible functions

Supports customizing multiple assessment modes, configuring multiple indicators and personalized charts, and diversifying performance distribution to make assessment data more accurate.

2. Flexible architecture design

Supports multi-legal person structure and flexible configuration, and is suitable for different situations of IT status and future planning of each bank.

3. Highly configurable

Business personnel can customize business plans, display effects, and business coefficients at any time, and technicians can also flexibly configure system functions and parameters.

4. Fully support innovation

In the application technology architecture, the self-developed microservices architecture fully adapts to the mainstream domestic hardware resources, databases, middleware, IAAS, and PAAS platforms, helping the bank to achieve credit innovation, application development and technological innovations in the cloud include:

– A project of a state-owned policy bank connected to the MYSQL database

– Xiamen International Bank project connected to Tencent TDSQL database

– Guiyang Rural Commercial Bank project connected to Dameng V8 database

– Chongqing Rural Commercial Bank project connected to Ali MaxComput database

– Hua Xia Bank project connected to the Huawei GaussDWS database

The advantage of Sunline’s performance management system makes full use of the value management platform, improves target management, pays attention to value evaluation and assessment, unifies the company’s strategic goals and employees’ personal goals, and ultimately maximizes the efficiency of human resource utilization.

Transformation and upgrading is an inevitable trends in the development of financial enterprises. The banking industry has the highest level of refinement of the performance compensation systems. Scientific and reasonable performance appraisal can maximize organizational reform and innovation and is an effective way to promote the healthy and rapid development of the business.

Sunline Performance Management System is not only tailored for large banks to drive their business innovation and performance growth but also begins to provide overall strategic layout planning in performance management for small and medium-sized banks on the basis of precipitating valuable experience in large banks through a full-stack integrated operation service from consulting to implementation.

Sunline Performance Management System accurately grasps the digital management method, and the performance management of the value management concept in the middle stage is managed and controlled from the perspective of the whole bank, which can better promote business cooperation, unify assessment standards, improve assessment efficiency, and adapt to the continuous development of commercial banks in different circles. business scope, and promote the steady operation and sustainable development of commercial banks with refined and endogenous growth.

The “Guidance on Digital Transformation of Banking and Insurance Industries” issued by the China Banking and Insurance Regulatory Commission (CBIRC) clearly stated that by 2025, the digital transformation work should achieve obvious results and in order to achieve this goal, commercial banks must go all out to advance their step-by-step plans. The construction of a new core banking system is a powerful measure for Jinhua Bank to drive transformation and upgrades through financial technology and recently, Sunline won this project with years of professional experience and innovation.

Sunline continues to innovate, keeps up with the development trend of the banking industry, and continuously innovates and iterates its core business system. From the first-generation self-developed bank integrated business system, SunLTTS V3 launched in 2003, to the country’s first “microservices + unitized” new-generation distributed banking core system SunLTTS V8, Sunline’s core banking systems have served many banks and have been highly praised as well as always being at the forefront of the core field of banks.

After winning the project for Huzhou Bank, the project for Jinhua Bank has marked half of the core market in Zhejiang. Sunline can provide personalized business disassembly and functions for different customers based on the “microservices + unitized” architecture, on the basis of seamless connection with domestic databases development to meet the different customized needs of each bank and become their effective partner on the road to realizing innovation and digital transformation.

“True gold is never afraid of the fire”. In the many years of cooperation with Sunline, Jinhua Bank has recognized and trusted its products, solution capabilities, and team delivery capabilities.

Founded in December 1997, Jinhua Bank currently has 7 branches, 1 village bank, and 109 business outlets in Zhejiang Province, and has achieved full coverage of financial outlets in central Zhejiang.

After comparing the solutions and services of a few vendors, the Bank has chosen to collaborate with Sunline once again, to help the transformation of Jinhua Bank again through the upgrade of the Bank’s legacy core.

This time, two parties join hands again to open up a new win-win situation. The second collaboration is based on the good reputation of Sunline’s core banking system in the market. Through the construction of the new core banking system, Jinhua Bank will be able to respond to market changes and customer needs more efficiently and seizes market opportunities with flexible products, pricing, and marketing, ultimately achieving its digital transformation goals.

In the digital age, information management technology promotes the reformation of the management concepts, management methods, and management systems of commercial banks. Driven by internal and external factors such as intensified competition and value maximization, commercial banks have shifted the focus towards comprehensive value management. Recently, Sunline won the Bank of Jilin’s Management Committee project to construct the Bank’s entire value management system with the company’s comprehensive platform.

Sunline’s comprehensive value management platform is an independently developed solution to help banks achieve the integration of data, products, and applications, realizing the bank’s management and business goals through value discovery and creation. Bank of Jilin launched the management committee implementation project to achieve a high degree of compliance with the refined management objectives.

Bank of Jilin is the only city commercial bank in Jilin Province with a registered capital of RMB 10 billion. It has 11 branches and 377 business outlets in 9 cities and prefectures in Jilin Province, Shenyang, and Dalian, and initiated the establishment of 10 village banks, 1 A loan company, and a stake in FAW Auto Finance. As of the end of September 2021, the net profit for the bank was RMB 1.364 billion. In the 2021 ranking of the top 1000 global banks by the British Banker Magazine, Bank of Jilin ranked 257th in the global banking industry in terms of tier 1 capital.

This time, the Bank of Jilin implemented a full-featured module under the management accounting system in the form of a single project bidding. The construction content includes index market, multi-dimensional profit analysis, performance evaluation, comprehensive budget management, internal fund transfer pricing, cost allocation, functional modules such as revenue sharing, comprehensive budgeting, and asset-liability management, which are extremely challenging for vendors.

Not only the implementation manufacturers are required to have rich case accumulations, but also mature product systems and strong integration capabilities to control the above functional modules. Sunline stood out from other vendors with advanced value management platform concepts and strengths, and professional implementation teams.

Sunline will formulate a comprehensive management and management solution for Bank of Jilin, providing the bank with a comprehensive financial, performance, risk analysis, and management framework that can monitor various banking institutions, products, lines, channels, customers, and account managers, dimensional performance, tracking profit trends, cost structure, risks, and other key factors, assisting banking business planning, performance evaluation/assessment, product pricing, and risk management, etc., to improve the level of refined operation and management, ultimately maximizing value for the Bank.

Sunline’s comprehensive value management platform helps commercial banks realize the transformation from scale-oriented to value-oriented, qualitative decision-making to quantitative decision-making, extensive marketing to precision marketing, and passive pricing to active pricing with the main objective of refining management.

Winning the Bank of Jilin’s Management Committee project marks another major practice of Sunline to help commercial banks with refined management and digital management committees and the company’s far-reaching intentions to continue empowering the digitalization of the country’s financial industry.

In 2021, the government work report took “scientific and technological self-reliance and self-improvement” as the strategic support for national development, and actively promoted the solution of “bottleneck issues” in key technologies. Facing the goal of financial digitization and high-quality development, financial institutions were now faced with the upgrading of structure and infrastructure by taking into account the problems of security and digital development.

New Opportunities for Database Localization

In recent years, the wave of innovation has been surging. “Information security is the cornerstone of national security” and is reshaping major industrial chains, and databases, as the underlying software and core support for the digital transformation of government and enterprises, are of great significance for the implementation of national security strategies and the improvement of overall competitiveness. In the environment of iterative development of open-source technology and cloud computing technology, the replacement of database localization is imperative.

Bank of Nanjing just celebrated its 26th birthday and is exploring its own practical path in this wave. As the second-largest local bank in Jiangsu, Bank of Nanjing has long been actively involved in major national, regional and local strategic plans. Under the guidance of the “Five-Year” FinTech Plan, Bank of Nanjing actively deploys the frontier FinTech field, promotes technology-led, data-driven, comprehensive empowerment of business and management, and accelerates the transformation to a “digital and intelligent” bank.

The rapid growth of data generation and data traffic brought about by the digital age has put forward requirements for databases such as faster access speed, stronger scalability, and support for higher concurrent access volumes. The traditional centralized database is facing increasing pressure, and establishing a highly available, highly secure, and intelligent database has become the key for the Bank of Nanjing to support the continuous development of the Bank’s new businesses.

Under the dual forces of policy and market changes, in October 2021, the Bank of Nanjing officially launched the “OLAP Distributed Domestic Database Construction Project” to build a data platform based on domestic distributed databases.

Building a “safety base” for digital transformation

As the “safety base” for the digital transformation of financial institutions, the database is closely related to the many application systems of the bank. Replacing the database itself has multiple risks such as a stable operation to be verified, heavy migration and transformation tasks, and a difficult selection of multiple scenarios. Therefore, in the face of numerous and complex database types, how to choose a domestic database that is most suitable for your own business development is undoubtedly the primary problem to be solved.

At this time, an experienced and capable “best partner” is particularly important.

As a leader in the security and controllability of financial digitalization, Sunline has taken the lead in entering the market in the field of innovation. Relying on self-developed core technologies and products, it has cooperated with various domestic database suppliers and has landed projects for many domestic joint-stock banks and city commercial banks, setting many industry benchmarks for China’s banking industry to realize the replacement of domestic databases from 0 to 1.

After sufficient pre-research, communications, and discussions on the needs in the early stage, combined with Bank of Nanjing’s own business structure, business data volume, data type, etc., Sunline has created a solution for the bank based on the Huawei GaussDB distributed database with analysis and mixed load capabilities with a set of advanced database cluster and cloud database, successfully winning the OLAP distributed domestic database construction project of Bank of Nanjing.

Starting from the current situation and future planning of Bank of Nanjing’s data system construction, this solution has laid a solid foundation for its database localization replacement in multiple dimensions:

1. Planned the GaussDB cluster deployment scheme design and cluster architecture suitable for the Bank of Nanjing.

2. Built a cluster environment that satisfies load balancing, high availability, and disaster tolerance.

3. Compiled design and development specifications such as “ETL Script Development Specification”, which provided guidelines for the subsequent construction and maintenance of the Gauss platform.

4. Provided technical support such as cluster performance tuning and SQL optimization to ensure the smooth operation of the platform.

Real capabilities are the foundation

In December 2021, the OLAP distributed domestic database construction project for the Bank of Nanjing was successfully launched, taking only two months to complete the project.

During the period, the Sunline project team completed the cluster planning and design, deployed in four environments of development, SIT, UAT, and production. Time is tight and tasks are heavy but the team was “not afraid of difficulties or avoiding responsibility” and the positive work attitude has enabled the project implementation to progress fast and steadily. Even when the schedule was most intense, the members of the group will make time every day to communicate the problems encountered and work together to find specific solutions.

The project team’s spirit is in lieu of the innovation-driven wave. After the project was launched, data applications such as the regulatory submission market have also been migrated to the GaussDB cluster platform. With the stable operation of the GaussDB cluster, more applications will be gradually migrated. The good performance of the system provides strong support for the business development of Bank of Nanjing with:

1. High-performance guarantee with the characteristics of high scalability, high performance, and high availability, which can well meet the needs of online, high-frequency, multi-dimensional, and high-concurrency scenarios and facilitate business innovation.

2. Low cost to performance, optimizing the Bank’s IT asset allocation, reducing investment and operation and maintenance costs with increased efficiency.

3. High security to meet the national requirements for independent and controllable financial security and escort digital transformation as a financial-level distributed database with independent and controllable technology and intellectual property rights.

Standing at the current node of the times, the practice of innovation-driven in domestic financial institutions has entered a stage of the full swing. The successful launch of the distributed domestic database of Bank of Nanjing is not only a big step in its digital transformation journey but also sets a benchmark for many small and medium-sized banks that are exploring the field of domestic database replacement. As the “operator” of this project, Sunline has given full play to its advantages in independent innovation and safe and controllable application practice of financial IT systems. In the future, as a firm supporter and practitioner of the national credit innovation strategy, Sunline will continue to explore new technologies, new formats, and new models, and empower the high-quality development of China’s financial credit innovation infrastructure with technological innovation!

The results of the 8th Golden Pine Award under the financial technology industry were officially announced on 21st February 2022. With over 100 companies participating in the 31 awards competition, Sunline was selected as the winner for “Public Welfare Fintech Enterprise” with its strong accomplishment towards social responsibility through technology.

The Golden Pine Award is an online selection for the financial technology industry hosted by the mobile payment network. This annual grand ceremony aims to comprehensively display the development of financial technology companies in the past year from multiple dimensions such as enterprises, products, solutions, case studies, and innovation.

As a strong leader and public listed company in the field of financial technology, the development of Sunline originated from society. While the business has achieved rapid development, Sunline actively fulfilled its due missions as corporate social responsibility. At the beginning of the outbreak, Sunline drove a few employee donations totaling RMB 9.217 million. Last year, a new round of domestic epidemic broke out and in order to help with epidemic prevention and control, Sunline donated nearly 1,000 sets of protective clothing to communities and hospitals, demonstrating corporate responsibility with practical actions. During the Henan rainstorm, Sunline prepared raincoats, rubber shoes, instant food, and other disaster relief materials required by the local area, and launched the “Flood Control and Disaster Relief Fundraising Activities” among its employees to carry out the rescue operation.

Sunline has always been a leader in financial technology innovation and has empowered the development of the industry with leading technology, while never forgetting to fulfill its social responsibility. Over the past two decades, the original intention is as strong as a rock, and the company has worked hard to help with the implementation of the national financial security and controllable strategy with advanced technology, help financial services cater to the real economy, empower digital transformation, bringing Chinese financial technologies overseas, and lead global financial institutions to move towards the future of digital intelligence. We firmly believe that social responsibility is an obligation rather than a choice. In the future, Sunline will continue to combine corporate development with social responsibility and contribute to the country’s economic and social development.

 

Further reading:

Action to help Henan:

On July 17, 2021, Henan Province suffered a heavy rainstorm, affecting 14.5316 million people. Many infrastructures were destroyed, farmland was flooded, houses collapsed, and people’s lives and property suffered heavy losses. In order to help the people of Henan tide over the difficulties as soon as possible, from 25th to 26th July, Sunline conducted a comprehensive collection and investigation of the disaster-affected needs in Henan, and simultaneously launched the “Flood Prevention and Disaster Relief Fund-raising Activities” among employees, advocating that each of our Sunliners should bravely shoulder social responsibilities and contribute their own strength to the people in the disaster-stricken area. For the use of disaster relief funds, Sunline has donated materials to the front-line rescue workers in Fugou City and Xihua County in Zhoukou City and the people in the resettlement sites in the disaster area by purchasing raincoats, rubber shoes, etc. Flood control materials and food such as ham were delivered to the disaster-stricken areas in the two counties.

Epidemic relief actions:

Since the outbreak of the new crown epidemic in January 2020, the company has launched an employee epidemic relief fund-raising activity with the theme “the country is in trouble, our generation is responsible”, raising RMB 9.217 million within the company and helping 1,630 patients from 16 provinces in the society. In August 2021, a new round of domestic epidemic broke out. Much medical staff and community workers stood by day and night. In order to add a safety guarantee to the front-line staff fighting against the epidemic, Sunline decided to donate protective clothing to the high-tech community of Yuehai Street, Nanshan District, and the Overseas Chinese Town Hospital of Nanshan District, to help the epidemic prevention and control in Nanshan District, Shenzhen with practical actions.

As an important participant in the domestic non-performing asset industry, local asset management companies (AMCs) play an important role in maintaining financial stability and resolving financial risks, especially through the acquisition and disposal of non-performing assets of local financial institutions. The application of financial technology has greatly improved AMCs and they have better played their role as the “financial stabilizer” with their own core competitiveness.

Sunline’s asset core comprehensive management platform adopts technologies such as micro-service architecture, front-end and back-end separation, as well as low-code development to achieve efficient management and disposal of non-performing assets which will help AMCs achieve more with less in the process of fully realizing digital transformation.

Transformation is imperative with the dual drive of internal and external pushes

Between December 2021 and January 2022, two heavyweight guidance documents on the digital transformation of banks, the People’s Bank of China’s “Fintech Development Plan (2022-2025)” and the China Banking and Insurance Regulatory Commission’s on the ” Digitalization of the Banking and Insurance Industry” have been issued successively, providing guidance and requirements for the entire industry to adapt and transform in lieu with the digital economy. Leveraging the power of financial technology has become an important direction for enterprises to implement digital development strategies.

As the scale of non-performing assets of banks has risen in recent years and local government debt has increased progressively, the state has successively approved more local AMCs. Compared to the four major AMCs, local AMCs have more advantages in disposing of small, large, and scattered non-performing assets, with more flexible and targeted disposal methods, and better collaboration with local governments and judicial departments to improve disposal efficiency.

Referring to the development route of the four major domestic AMCs, after the completion of the disposal of policy-related non-performing assets assigned by the state, they all chose the diversification strategy as the way out for their commercial transformation. From the perspective of operating results, diversification has enriched AMC’s non-performing asset disposal methods, which has greatly promoted AMC’s return to its main business of non-performing assets and improved its ability to dispose of non-performing assets.

One of the AMC decided to establish a core business system for asset management and use financial technology in order to develop a diversified business strategy, comply with market trends and relevant policy requirements, meet higher standards for market development, company management, and future business development as well as promote the comprehensive promotion of its own digital transformation through:

(1) An integrated business system

Comprehensively sort out the business processes and scenarios of each line of the company, rationalize the relationship between optimized process operations, risk management, and decision analysis, as well as design a multi-level system function system.

(2) Integrated asset data

Integrate multi-line, multi-level and multi-dimensional data, centralize data collection, establish asset standards, and solve the problems of missing data, confusing definitions, and repeated entry.

(3) Meeting the internal control requirements

Realize the management and control requirements of the company’s centralization, differentiation, refinement, and specialization.

(4) Meeting external regulatory requirements

The new regulatory regulations are gradually refined and implemented to meet the gradual advancement and evolution of the regulatory model from static to dynamic, from local to overall as well as from results to processes.

(5) Improving the level of informatization construction

Complete system construction, with the help of the application of new system technology, promote the construction of system informatization.

Leveraging on the strength that doubles quality and efficiency of the new system

With its in-depth interpretation of policies, deep understanding of the industry and business needs, strong technical capabilities centered on microservices architecture, as well as innovative solutions and product services that help customers adapt to future markets, Sunline was granted the project in April.

After the project team settled in, whether it is demand change or product optimization, they have always adhered to the principle of efficient execution, attention to detail, as well as providing careful and meticulous services to ensure that the project is delivered on time. After half a year of demand research, system design, product development, the project was successfully delivered and launched in November 2021.

The new generation core business system adopts technologies such as microservices architecture, front-end, and back-end separation, and low-code development to lay a solid foundation for customers’ digital transformation.

(1)  Microservice Architecture

Features continuous integration (CI), continuous deployment (CD), agility, scalability, faster delivery, higher developer productivity, as well as easier debugging and maintenance.

(2) Front and rear separation

It has the characteristics of completely liberating the front end, improving work efficiency, further clarifying the division of labor, improving local performance, reducing maintenance costs, reasonable design, and enhancing user experience.

(3) Low code development

It has the characteristics of lower cost and efficiency, lower technical threshold, faster integration, and response.

The asset management core business system performs standardized management, recording, and archiving in the system through business online, refines the entire business process into multiple modules, integrates data to generate reports, and provides data reference and decision-making for the management. At present, the system has successfully launched 150+ customers, 100+ debtors, 50+ assets, and 60+ projects, providing comprehensive services and support for customers’ daily operations. The new core system can be flexibly applied to multi-scenario businesses to meet product innovation.

Through the construction of the core business system, it helps customers to realize the structuring, processing, refinement, standardization, and digitization of comprehensive business, which effectively supports the development of customers’ business, enhances their market competitiveness, responds to the policy needs of the country’s digital transformation, and satisfies their future development needs.

Recently, the Cyber Security Center of the Ministry of Industry and Information Technology announced winners of the innovative application solutions for digital technology integration of 2021. Sunline’s “distributed core banking system” was awarded “2021 Digital Technology Integration Innovation Application” under the “Solutions” and “Technology Innovation” fields with its advanced technology and industry demonstration.

This event was hosted by the Network Security Industry Development Center of the Ministry of Industry and Information Technology as well as the Information Center Technology Innovation and Application Collaboration Group. Nearly 700 effective solutions from hundreds of companies participated in the evaluation. Five-dimensional driving forces and implementation service abilities in terms of technological advancement, business support capabilities, application demonstration effects and industrial contribution were considered. The selection process took four months to run through a total of 126 typical solutions, 30 excellent practice cases and 62 individual innovation cases. This award aims to provide directional guidance for the promotion of new technologies and applications, to help the transformation and upgrading of informatization and digital technology application.

Sunline has always focused on financial technology innovation, taking the lead in launching the first new generation distributed banking core business system in China, giving new vitality to the digitalization of the financial industry, and continuously injecting innovative momentum into the development of digital technology applications.

Under the wave of innovation-driven era, Sunline’s new generation distributed banking core business system supports a new ecological operating environment, fully integrates with operating systems, databases, ARM chip servers and storage, etc., and comprehensively builds a new ecosystem of core systems to accelerate the promotion of my country’s financial Industry letter creation process.

At present, the solution has helped many financial institutions such as Ping An Bank, Zhangjiagang Rural Commercial Bank, China CITIC Bank, Kunshan Rural Commercial Bank and others, playing an advanced demonstration effect in the localization application of the financial industry with significant milestones in the field of domestic financial credit innovation.

With the intensive introduction of relevant documents such as the “14th Five-Year Plan”, and the in-depth application of new-generation information technologies such as cloud computing, big data, artificial intelligence, and blockchain, the process of technological innovation and industrial application integration in the advancement of the innovation-driven industry is underway. In the future, Sunline will continue to promote the transformation of financial information technology as its own responsibility, continue to promote the implementation of the full-stack domestic core business system in more financial institutions, break through the bottleneck issues of financial information technology, and inject strong impetus into the innovation-driven industry, to ultimately realize the independence and controllable security of national financial information.