Zhangjiagang Rural Commercial Bank’s new core banking system won IDC China 2020 Financial Industry Technology Application Scenario Innovation Award
2020-09-02
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Zhangjiagang Rural Commercial Bank's new core project won 2020 China Financial Industry Technology Application Scenario Innovation Award for its outstanding achievements in financial distributed technology at the 2020 IDC China Financial Forum and Award Ceremony on August 28.
 

This award undeniably deserves its name. The new core project for Zhangjiagang Rural Commercial Bank is of great significance to the Chinese banking community. As the first domestic case of traditional bank core system database localization, it successfully broke the monopoly of foreign database manufacturers in China's traditional bank core system. It can be considered a historical breakthrough and a crucial milestone in the process of "IOE" in the nation's banking industry.

 

Everything is hardest at the beginning and it is even harder to walk the path of no one

At that time, the issue of information security had risen to the height of being a national strategy and the core system of Zhangjiagang Rural Commercial Bank had been used for 14 years, so it was difficult to support the business development needs of the industry. Under such internal and external factors, Zhangjiagang was ushered in the core localization opportunity.

Although Sunline and Tencent are well known domestic leaders in core business systems and financial-grade database, respectively. However, it is always the hardest to be the first domestic database core system as there are many factors to be considered.

However, Zhangjiagang Rural Commercial Bank is well-known as a bank that dares to fight to be the first. After more than ten rounds of discussions during high-level meetings, Zhangjiagang Rural Commercial Bank’s Chairman Mr. Ji Ying finally made the decision for the bank to proceed.

In order to ensure foolproofness, Zhangjiagang Bank has made a bottom line plan, that is, a quasi-real-time synchronization strategy for domestic distributed TDSQL database and centralized database data, which can quickly switch databases in emergency scenarios.

 

August 18, 2019 is a historical moment worth remembering

After more than 400 people working on the project and a entire year of hard work, in-depth testing and technical verification time again, on August 18, 2019, Zhangjiagang Rural Commercial Bank's new core banking system using a domestic database was successfully launched and operated efficiently and stably.
 

Group photo of Zhangjiagang Rural Commercial Bank's new core launch

 

The new core project of Zhangjiagang Rural Commercial Bank has therefore become the first bank that successfully implemented the database localization of a traditional core banking system, leaving an important mark on the historical monument of the banking industry.

 

The new core system of Zhangjiagang Rural Commercial Bank has taken off while most banks are still watching what others are doing

Since the launch of the localized database core system, Zhangjiagang bank has been very lively. Banks from all over the world have come to learn from the bank’s experience. Sunline and Tencent became just as busy.

No matter what, financial industry put stability as most important. Although there are countless banks learning from it, there are also many concerns. Most banks are waiting to truly start the road to the localization of their core banking systems after they see the real after-effects.

It has been exactly one year since the new core of Zhangjiagang Rural Commercial Bank went online. The performance of this core is a matter of great concern to the banking industry.


The IT Department of Zhangjiagang Bank stated that in the one year after the new core system went online, it has achieved the top ten goals of Zhangjiagang Bank’s business, effectively supporting hundreds of peripheral systems, running smoothly, efficiently operating and maintaining, and achieving good applications effect:

• The average daily trading volume is 690,000 and the peak trading volume in a single day is 1.8 million.
• Processing capacity reaches 6200TPS (measured with 50 million account pressure) and performance can be further improved through online expansion.
• Batch deduction is completed within 20 seconds for every 10,000 transactions, marking a 3 times increase.
• The quarterly interest settlement of deposits took 13 minutes, marking a 9 times increase.
• The quarterly interest settlement of loans took 3 minutes, marking a 10 times increase.
• It took 17 minutes to run batches at the end of the day, marking a 6.5 times increase.
• A total of 35 minutes spent on the year-end settlement date.

During the above batch business process, the database system load remained below 10%.

The above data proves the success of the Zhangjiagang Rural Commercial Bank’s domestic database core system project.

Talking about the new core project of Zhangjiagang Rural Commercial Bank again, Chairman Mr. Ji Ying could not help but feeling that this project is extremely challenging but it can be done perfectly. In this project, Sunline played an important part in this systematic project with short implementation period and wide business scope. The many integrations and difficulty during data migration poses many great challenges for Sunline in terms of implementation, project progress, project quality, etc. However, Sunline never backed down and was willing to face the unknown. During the project implementation, Sunline was very professional and dedicated. Besides actively communicated with the bank and TDSQL team, Sunline also actively explored the efficient and stable operations of TDSQL in the traditional core business system.

 

Chairman of Zhangjiagang Rural Commercial Bank, Mr. Yi Jing

The new core banking system has been put into production for more than a year, with stable operation and outstanding performance. It provides a replicable case for the localization of the new core of small and medium-sized banks and will surely drive a disruptive change in the system architecture of the financial industry. This is also the important reason for the new core project of Zhangjiagang Rural Bank in winning the IDC 2020 China Financial Industry Technology Application Scenario Innovation Award.

At every important point of change in the history, there is always a group of people who do not dare to be different or be the first. They will overcome all kinds of difficulties and dangers creating historic breakthroughs.