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.