Recently, Sunline sees another breakthrough in the consumer finance market, winning the bid for the new generation consumer finance platform project for BOC Consumer Finance to transform the organization into a digital native.
Sunline empowers the transformation of BOCCF
BOC Consumer Finance (BOCCF) is one of the nation's first consumer finance companies established with the approval of the China Banking Regulatory Commission and is operating comprehensively under the Bank of China. In the era of internet consumer finance that comes with the trend of interest rate liberalization and financial disintermediation, Fintechs have begun setting foot in the credit and financing businesses. In order remain competitive and future-proof in the era where digital and internet prevails, BOCCF will undergo transformation, starting with the development of a new generation consumer finance system.
As one of the leaders in the consumer finance industry, BOCCF’s transformation has a very strong demonstration effect for the entire industry. With 6 months of continuous research, analysis, consultation planning and testing to produce a scientific rigor, Sunline’s new generation consumer finance system has been highly recognized by BOCCF for its technological advancement and performance superiority to help the organization efficiently realize its 3 main strategic goals, ‘finance + inclusion’, ‘finance + scenarios’ and ‘finance + technology’.
Innovative concepts combined with hard core technologies creates leading solutions
The new generation system for BOCCF comprises of the core of the system and other core functions including approval process, post loan and risk control management as well as transaction-level large ledger which are directly related to the business quality and efficiency of BOCCF. A comprehensive system with capabilities in digital financial, big data and background management services will ensure exceptional user experience, risk control, performance evaluation and business decision analysis.
With more than a decade of knowledge in the end-to-end business of financial institutions and the experiences in the evolution of the financial industry, Sunline has applied them in the development of BOCCF’s new generation consumer financial system platform, helping the organization provide customers with good user experiences, risk control and security related technical support. With big data analytics, the system realizes strengthened real-time analysis, decision-making capabilities as well as eKYC to provide flexible and efficient product services as well as support the rapid development of future online and offline consumer finance businesses, empowering BOCCF to lead a new round of financial development strategy and realizing the organization’s transformation path towards "digital, scenario-based and intelligence".
Sunline's new generation consumer finance platform is designed with the security, stability and controllability in mind. Incorporating the characteristics of internet and digital to support massive users, transactions and data, covering a wider range of businesses and realizing flexible applications to the everchanging market demand.
The platform adopts micro-service and distributed architecture. Application splitting microservices, asynchronous decoupling of message queues, read and write separation reduces database IO pressure, cache peaking and data distribution, laying a solid technical foundation for the development needs of BOCCF.
Sunline digital finance business highlights its strong competitiveness in the industry
Based on the company’s latest annual report, Sunline's digital finance businesses has maintained a strong growth. Under the influence of the ‘Internet+’ trend, Sunline has launched its digital banking system with WeBank, the nation’s first digital bank in 2014 and became the first company in the industry to propose and implement the digital transformation solutions for commercial banks. With continuous improvements and upgrades, Sunline’s digital banking solution has been widely implemented in the nation’s large commercial banks and financial institutions like Postal Savings Bank, Ping An Banks, Industrial Bank, Hengfeng Bank, Zhejiang Rural Credit Union, Anhui Rural Credit Union, Jilin Rural Credit Union, as well as overseas commercial banks in Malaysia, Thailand and Indonesia. In 2015, the cooperation with Baidu Financial has opened doors for Sunline in the consumer finance market.
The collaboration with BOCCF not only mark Sunline’s first entrance into the large state-owned consumer finance market, also represents Sunline’s subsequent expansion into the consumer financial market.