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Thousands of global executives from the financial industry convened at the three-day Huawei Connect 2019 summit in Shanghai on September 18 to 20 to discover cutting-edge technologies and best practices as the industry enters into the era of Bank 4.0. Sunline was invited as one of Huawei’s ecosystem partner to share their invaluable information and insights in digital transformation.

Bank 4.0 as predicted by writer Brett King, realizes “banking everywhere, never at a bank” through the B-2-B-2-C business model. In this era, customers’ expectations are higher than ever as services everywhere, anytime is becoming the new benchmark. Banks’ ‘one-product-fits-all’ approach will no longer work, instead collaborations with third party vendors are key to winning over and retaining customers. For the foreseeable future, banking will continue moving forwards towards all-digital, and to remain top performing, they will have to strive for a hyper scale and hyper performing banking system.

At present, many banks are facing limitations to their Digital Banking efforts mainly because they adopt a vertical approach by continuous additions of channels on top of their legacy core banking system. As a pioneer in Digital Banking, Sunline’s self-developed Digital Core Banking System is built with surrounding business innovation and technology from bottom to the top. With this system, banks can use a horizontal dual-core approach to avoid legacy core limitations without having to immediately replace their existing business core.

During the summit, Matthew Chen, CEO of Sunline’s Overseas Business has represented Sunline to present the technologies behind the hyper scale and hyper performing banking system. Mathew also shared more in-depth about the importance of an engaging ecosystem through seamless and secure collaboration as the world edges towards the new era. 

 
Sunline’s continuous collaboration with Huawei will undoubtedly enrich the services of banks in the South East Asia region. Sunline will continue to work closely with Huawei, embarking on a journey to empower the businesses of financial institutions and reinvigorate the financial industry.  

In conjunction with Mid-Autumn Festival, Xu Yali, Managing Director of Sunline Holding along with Chris Hang, Head of Overseas Operation Department and Alex Long, Head of Overseas Finance Department had visited employees and on-site project teams in subsidiaries offices and project sites in Kuala Lumpur, Jakarta and Bangkok from 9th to 13th September. On behalf of the higher management of Sunline Overseas Group, the directors personally expressed their sincere gratitude to all employees who have worked hard and grown with the company.

During the visits, Xu has coordinated meetings with the local management teams and project leaders, as well as conducted surveys with office employees and on-site project team members who work on the front-line to understand more in-depth about the current company systems, processes, cultures, difficulties faced, career development, welfare treatment and other aspects to support the employees. 

In response to the feedback of overseas employees, Xu has immediately put follow up plans into action. Overseas Operation Department has been assigned to be the liaison to connect overseas teams with relevant departments at the headquarters and help solve any pending issues swiftly while Overseas Finance Department has been assigned to rediscover and analyze overseas marketing and sales strategies.

As a result of these visits, communications between management and employees were effectively established, significantly narrowing the distance between the headquarters and overseas subsidiaries. The management team has updated and implemented overseas policies and system processes fitting to overseas system and culture. Through these changes, voices of overseas employees were truly heard and provides a sense of belonging to all overseas employees. The actions of the management team play a pivotal role in realizing Sunline as a truly International company!

The current Forrester’s Global Banking Platform Deals Survey 2019 shows Sunline as the top 3 banking platforms vendors for both new and combined deals in Asia Pacific (APAC). This survey has shown the recognition for Sunline’s contributions as one of the top FinTech pioneers in the region.

The current Forrester’s Global Banking Platform Deals Survey 2019 shows Sunline as the top 3 banking platforms vendors for both new and combined deals in Asia Pacific (APAC). This survey has shown the recognition for Sunline’s contributions as one of the top FinTech pioneers in the region. 

Forrester believes banks need fast tracks to true digital banking more than ever before and will need to finalize digital transformation before 2025 or they will succumb to an analog-business death. Although the timeframe is seemingly short, banks will still need accurate insights into products’ functional breadth, depth and road map in order for them to find the right solutions. Rooting on helping banks navigate the solutions deluge, Forrester surveyed key banking platform vendors on their deals in 2018 to analyze which were able to enhance their market footprint and also which functional areas are the banks focusing on.

Based on the survey, there are a few key findings which aims to help banks’ technology teams gain more in-depth understanding of the current state of the banking platform market and make better decisions in their own banking solutions. Unlike in the past, banks are realizing that digital banking should no longer be limited to digital channels. Functional buying patterns in 2018 are showing increasing interest towards end-to-end digital banking instead. Forrester also believes banks should establish a level playing field when selecting their vendors and need to avoid an unbalanced foundation for their buying decisions. Banks has shown to sign less contracts with vendors without established relationships. The ongoing market consolidation trend which started a few years ago shown banks are being more careful in engaging reliable vendors to help them accelerate and shorten their digital transformation journey. 

Successful vendors are those who continue to sell new capabilities to existing customers and keep creating value for them. While most vendors can deliver the most relevant business capabilities in their targeted subverticals to the banks; but offering more advanced capabilities to support greater customer experience and business agility, preparing banks to remain at the top of the competition in the long run is what sets good vendors apart. Forrester advices banks to scrutinize vendors’ constant ability to help them innovate. 

As a leading financial IT vendor to more than 400 financial institutions worldwide, Sunline has continuously increased their efforts in R&D while actively joining the wave of the market change. To cater for the needs of banks in their digital transformation journey, Sunline is confident that their digital banking solution, which the company has been actively pitching to banks across the APAC region, will not only continue to facilitate banks to stay competitive in the digital era but also help reinvigorate the financial industry.

Check out what the panels think about the dominators of Global Fintechs today and in 5 years time

Moderated by Alessandro Hatami, Managing Partner, The Pacemakers, with panels Michal Kissos Hertzog, CEO, Peppers, Matthew Chen, Sunline’s Oversea Business Group CEO and Melissa Guzy, Co-founder & Managing Partner, Arbor Ventures

Check out more about the Matthew’s insights on the success recipe to formalizing a digital ecosystem

Moderated by Boyong Li, Senior Content Editor, Money 20/20 and speaker Matthew Chen, Sunline’s Oversea Business Group CEO

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

Al Hail Holding is a leading investment company headquartered in Abu Dhabi and operates a diverse portfolio across a wide category of sectors. The company has made substantial contribution to the diversification of the UAE economy as well as the development of government and private-sector joint initiatives. Sunline is a leading banking software and technology services company headquartered in Shenzhen which continuously reinvent their solutions by integrating the latest technology trends with industry best practices to provide comprehensive and secure financial solutions.

Medad Holding has entered into a Memorandum of Strategic Cooperation with Sunline in the presence of Mr. Hamad Jasim Al Darwish, Chief Executive Officer at Al Hail Holding and Mr. Mathew Chen, Chief Executive Officer of Sunline Overseas Business Group. Through this collaboration, both parties intend to jointly explore, develop and invest in the areas of digital IT solutions for banks and other financial institutions as well as facilitate the development of B2B2C in the Middle East, North Africa and other geographic areas of interest. Sunline will deploy the company’s new generation intelligent financial cloud services platform, Finline, which can facilitate financial inclusion at a faster pace. 

Check out Matthew’s insights on the Sunline’s expansion internationally in Money 20/20 Asia

Moderated by Zennon Kapron, Director of Kapron Asia with panels Wayne Xu, President of ZhongAn International, Jonathan Larsen, Group CIO, Chairman & CEO of Ping An Global Voyager Fund and Matthew Chen, Sunline’s Oversea Business Group CEO

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

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

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

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

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

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

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

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