The development of asset management companies has entered a new normal. While focusing on the main business to resolve financial risks, achieving high-quality development through transformation is a top priority. Local asset management companies need to constantly innovate to better serve economic development in the new environment and at the same time promote their own development in order to seize future market opportunities.
Sunline Asset Management has already made a long-term planning layout
As early as 5 years ago, Sunline started to deploy its solutions for the asset management industry, relying on its rich IT service experience in the financial field and established a special business line with a team of more than 200 people.
At present, the asset management solutions independently developed by Sunline have been successfully implemented in more than 20 domestic asset management companies, covering banks, five major asset management companies, local AMC companies, investment companies, including Cinda, Huarong, Yuecai Assets, Industrial Assets, Hunan Assets, Fucheng Assets, Zhongyuan Assets, Guangzhou Investment Assets, Henan Assets, Guangzhou Assets, Shenzhen Assets, Jinyang Assets, etc. Sunline’s relevant implementation experience is industry-leading especially in the integration of industry and finance and asset preservation.
Sunline has a deep industry accumulation, and is capable of creating core system solutions that meet the development needs of asset management on the basis of combining the latest development trends of financial technology with digitalization application to help asset management companies improve in a comprehensive technical and business capabilities.
The transformation of local asset management is imminent
Henan Asset Management was established in August 2017 with a registered capital of RMB 5 billion. It is a local asset management company approved by the Henan Provincial Government, filed with the China Banking and Insurance Regulatory Commission with businesses including non-performing asset management, equity investment, financial leasing, and commercial factoring, fund management, etc. As of the end of December 2021, the company's total assets were recorded at RMB 27.5 billion with managed assets reported to total RMB 48.8 billion.
Since obtaining the qualification for the batch acquisition and disposal of non-performing assets of financial enterprises approved by the China Banking Regulatory Commission, Henan Asset Management has achieved fruitful business development. It is urgent to introduce technological means to improve the company's work efficiency and management capabilities to meet the needs of business development and the country's financial strength.
At the end of 2020, Henan Assets went through strict bidding and selection, and finally selected Sunline as the only designated developer of their core system. After 6 months of system design and development with 3 months of system testing, the trial operation will be launched in the fourth quarter of 2021. During the trial operation, the system runs well and stably.
Making more breakthroughs consistently
The construction content of this project involves 16 main functional modules such as customer management, fund management, asset management, and financial management with more than 60 subdivided functional modules. The task of business sorting is arduous as the core business system not only need to connect with the internal fund management of Henan Assets, OA, and financial systems but also external systems such as Qichacha, Qixinbao, Ali Auction, and the People's Bank of China (if feasible), hence the number of docking systems is huge.
Combining the current situation of Henan's asset demand and structure planning, Sunline uses advanced technical means to build a core system solution that is in line with the development of Henan's asset business with:
· Advanced technology
Combining the latest technical means of Sunline, open-source Spring as the main technical system, distributed microservices technology architecture, front-end and back-end separation design, and supporting localized database deployment, it can fully support the future business development of asset management companies.
· Operation friendly
The introduction of a professional accounting engine, based on the use of the workflow engine and rule engine, creates a one-stop project operation, de-menu operation, and efficient process core business system that meet the personalized service needs of Henan Assets.
· Flexible configuration
The project-driven operation mode and the flexible configuration of components are adopted to effectively support various core business operation processes, which are more hierarchical, open and componentized.
· Digital blessing
The system can connect with external big data, realize digital business operations based on big data applications, big data due diligence, big data risk control, intelligent valuation, etc.
The new core system of Henan Assets realizes the digitalization and mobilization of the whole business process which greatly improves the efficiency of the company's operation management and process flow, realizes the digitization of all management actions and the automatic issuance of analysis reports, as well as improves management decision-making level of digitization. The construction of the new system has helped Henan Assets business to be fully standardized, streamlined and refined, effectively supporting business development and comprehensively enhancing market competitiveness.
A few days ago, the system was officially launched. Hundreds of customer data, thousands of debtor data, nearly 10,000 asset and guarantee information data have been completed, involving exceeding 300 projects and asset management scale of more than 50 billion. Leadership cockpit, financial statements, risk statements and other modules were implemented, providing strong data support for the company's strategic decision-making.
The delivery team keeps moving forward
During the launch of the Henan Asset Management Project, Zhengzhou experienced a heavy rainstorm and the country had three large-scale epidemics, but none of them affected the delivery progress.
During the flood, the system environment was interrupted and the cloud computer room in Baisha was attacked by the flood. The project team members were required to complete the data migration within 24 hours. However, there was no air conditioner in the computer room, and Li Gong, the technician, braved the high temperature of more than 40 degrees and stood by for more than 8 hours. In the end, all data was completely migrated, and the overall progress of the project was guaranteed.
The project manager recalled some moments in the struggle and said with emotion:
"Driven by the goal of launching the project as scheduled, each project team member stood by their posts, even ate and slept in the company under special circumstances, even pulled all-nighters during important test nodes. They did not complain and worked together to complete the project."
No matter the details, start with the end in mind, do not neglect any details, and zero-in on the problems that arise one by one. The actions of the project team members everyday are to ensure the smooth progress of the project and continue to improve customer satisfaction.
The Henan Asset Management Core System Project is the first localized microservice architecture core system case in the asset management industry. It has important reference significance for the follow-up IT system construction and selection of the entire asset management industry. Sunline will take this opportunity to refresh our innovation and iteratively upgrade our products to help more asset management companies reshape their competitive advantages and achieve breakthroughs in business development.