Sunline welcomes yet another historical moment for its core banking business, striking the first win with a state-owned bank. This project sees Sunline empowering Postal Savings Bank of China in the modernization the bank’s core banking system and remittance modules, transforming the bank with innovation and technology.
Sunline helps Postal Savings Bank of China build the first ever state-owned domestic core banking system benchmark
Postal Savings Bank of China (PSBC) is a leading large state-owned commercial bank with more than one billion accounts and nearly 40,000 outlets, serving more than 600 million individual customers. In response to the rapid changes in the banking sector in the era of digital banking and to counter the increasingly fierce competitions from Fintechs and Challenger Banks alike, PSBC decides to ride the wave of digital transformation and deploy an enterprise architecture based core banking system that is built on open platform and micro-services architecture. The transformation not only improves the efficiency and quality of PSBC’s products and services but also realizing the reactivity to provide customer-centric products and services. The PSBC’s new core banking project is the first project where a large state-owned bank adopts a unitary service model in the core system.
The new generation technology platform implemented by Sunline is the most important technical underlying architecture of the core banking system. It is the most fundamental platform that will directly determine the ability of the core banking system to support the bank’s business development. The technology platform in PSBC’s project adopts the most advanced distributed and microservices architecture, allowing each unit to work independently with autonomy. The flexibility of microservices lets the system expand fast to support the massive transactions and data, comprehensively sustaining PSBC’s business transformation needs with advanced technical architecture.
Sunline also implemented enterprise modeling and standardized analysis process for PSBC’s remittance business to evaluate the performances and optimized the internal and external flows, making the business more efficient and effective.
Historical breakthrough for Sunline – Marching into Large State-owned Banks Market
State-owned banks are gradually entering into core modernization. With information security and technology control becoming a national strategy, PSBC is taking the lead in launching a new generation core banking system transformation, successfully starting the localization and upgrading of the core banking system of large state-owned banks. This will further catalyze the comprehensive and profound digital transformations of other large state-owned banks.
Sunline started its core banking business in 2002 and has since served more than 700 customers. The company began serving urban commercial banks and rural commercial banks, and moved into joint-stock banks with Ping An Bank and Shanghai Pudong Development Bank projects. The constant development of the banking industry and Sunline’s commitment in continuous innovation has made the company an industry leader. The win in PSBC’s core banking project successfully opened the door for Sunline to set foot into the market of large state-owned banks, gaining first-mover advantage and competitive advantage for the company.
Sunline is the Leader in Localized Core Banking System
As the leading banking software and technology services company, Sunline is committed in providing the best self-developed technologies and solutions for the financial industry in China. The company has successfully implemented distributed core banking systems for banks like Bank of China (BOC), Huatong Bank, Bank of Dongguan, Jingu Rural Commercial Bank as well as BOC’s owned virtual bank in Hong Kong, providing them with abilities to handle billion-level users and transactions. The system is designed based on a distributed architecture which can deliver requests and responses between services loosely and deploying all applications to be customer-centric, fully demonstrating Sunline's leading technical capabilities in distributed technology.
The cooperation with the PSBC is the first domestic benchmark core banking system project for a large state-owned bank, which plays a decisive role and a great milestone for the banking industry of China, PSBC and Sunline.
Sunline is known in the industry as the "second technology arm of financial institutions" with deep understanding of banking business, rich implementation experience and active innovation genes. The market share and winning rate of the Sunline’s self-developed core banking system have always maintained a leading position, cumulatively provided core banking system implementations for nearly 100 banks. Working with PSBC is the most powerful affirmation of Sunline’s strength and industry position in the bank's core system field. The ability to help PSBC successfully transform created a perfect industry benchmark.