Recently, the new generation core system project of Chongqing Three Gorges Bank was successfully put into production, which is another perfect application of Sunline V8 Core System in a city commercial bank, marking a starting point for the core transformation in Chongqing’s banking industry.
Revolutionizing the old, transforming to the new
At present, the increasing volatility of the international financial market with China’s economic and financial situation being most severe, has caused profound changes in the policy environment facing the banking industry. In addition, the booming developments in digital finance and big data has brought upon more challenges to banks.
Chongqing Three Gorges Bank has always adhered to the development path towards "differentiation, specialization, and refinement". Since its establishment in 2008, the business scale of the Bank has grown rapidly, its profitability has continued to increase, and its comprehensive strength has been significantly improved. By the end of 2021, the total assets of Chongqing Three Gorges Bank was reported to be nearly 250 billion.
In order to comply with the trend of the digital era, continue to cultivate core competitiveness, and support the Bank’s strategic planning needs towards high-quality development, Chongqing Three Gorges Bank decided to start the construction of new core system, aiming to build an advanced, compatible, stable and forward-looking core. With a unique comprehensive system architecture, Sunline was chosen as the preferred partner for the construction of the Bank’s new core by virtue of its mature system, rich implementation experience and senior delivery team.
Towards quality and efficiency enhancements
The new-generation core project for Chongqing Three Gorges Bank includes modules such as deposit, public, accounting settlement, interface, and migration, with the needs to develop and connect 56 systems. Before the project was launched, the project team went through 9 rounds of data migration, 7 rounds of system integration tests, 6 rounds of business acceptance tests, and 6 rounds of production drills, in which the team has been solving problems, making up for shortcomings, and controlling risks.
The new-generation core system adopts a distributed and microservices based architecture as a whole. After the successful launch, excellent performance indicators were reported with significant faster response speed, shortened average time consumption, and increased number of daily transactions. The advantages of the new core system are obvious:
· "One core" to create the best customer experience
The new-generation core system builds a unified data standard, product management, account management, and customer view that realizes differentiated pricing, multi-channel account integration, centralized payment and deduction, and one-stop comprehensive signing for banks, providing customers with more humanized, diversified, convenient and efficient services.
· "Two major technological innovations" to improve system performance
The underlying architecture of a distributed and microservices core greatly improves system performance, achieving 24x7 uninterrupted operation for banks. An open platform reduces the degree of coupling, build a competence center, comprehensively improving the R&D efficiency and system iteration rate.
· "Three breakthroughs" that diversifies Digital Financial Services
Realize centralized operations and maintenance management: the interconnection of the legacy core, Three Gorges Payment, and large-value deposit receipt system; key businesses such as limit management and account control are centrally managed and controlled; and business risks are monitored in real-time.
Realize scenario-based process reengineering: establishing a unified customer view and 360° profile; reorganizing and recreating scenario-based processes for cash/voucher transfer, account opening, card and number replacement, customer and account information inquiry; and achieving a one-stop, unified signing of multi-channel and diversified services conducive to group fund management.
Online and offline integration: to adopt parameter configuration and factory processing mode to achieve centralized and differentiated release of online products.
The new core strengthens the interconnection between online channels and outlet built a counter response mechanism for online businesses such as open accounts, deposit certificates, and large-amount cash reservations; improves the business types of smart counters and ensure the unification with counter business rules and procedures; and enriches the business functions of electronic channels such as Three Gorges Payment, Mobile Banking, and Internet Banking.
The completion of the new-generation core system group project supports all the existing business functions and technical requirements of Chongqing Three Gorges Bank with the strategic purpose of modeling, componentization, internal and external integration, risk control systemization, business processization, and management informatization.
As Sunline’s the flagship product, the core system helps banks promote the process of digital transformation through technological updates and achieve high-quality financial development. From technology support to technology leadership, Sunline's pursuit of innovation has no end, moving forward along the value direction of the banking industry through the continuous relay points of each project.