On August 26, Sunline and Alibaba Cloud officially signed a collaboration agreement in Hangzhou and jointly released a new generation cloud-native core solution. Both parties will give full play to their respective resources and technological advantages in banking core, data intelligence and other fields, to lead and promote the implementation of solutions in banking core and other fields together.
Mr. Liu Weiguang, General Manager of Alibaba Cloud Smart New Finance & Internet Business Department, believes that this should be an epoch-making alliance of powerful players in the history of financial technology. In the past five years, Alibaba Cloud and Sunline have made breakthrough progress in their respective fields. The two sides have joined forces and constantly providing values in the strategic transformation projects of many banks.
"In the process of digital upgrade with our financial customers, our two goals will eventually converge, that is, to jointly shape the core of the new platform in the digital age, and create an intelligent data asset platform in the age of cloud! Let us look forward to this new combination of shining debut on the stage of China's financial digitization and the long winds and waves towards the future of the cloud!"
Mr. Wang Changchun, Chairman of Sunline, said that Sunline has always insisted on independent R&D and innovation for 20 years, and has always led the development trend of core banking systems. "Those who are wise change with the times, and those who are knowledgeable make decisions. Today, in the digital economy era, from the perspectives of digitalization and intelligence to examine the two-way empowerment of financial industry, Sunline believes that distributed + cloud native business architecture has ushered in the inflection point of the times, and the core system of the new generation will take the architecture transformation as the carrier, take the business model and technological innovation as the guide and support the ability to leap to value empowerment to have a higher degree of openness and rapid integration into the ecosystem. In this collaboration, both parties will extract new ideas from leading practices, leverage new models, develop new formats, and jointly drive a new era of digital finance with technological innovation.”
With the agreement, the two parties will carry out an all-rounded, in-depth and multi-form collaboration mainly around core systems, data intelligence and other sub-industry fields. In the field of core banking systems, Alibaba Cloud has a new generation cloud-native core architecture overall solutions with underlying IaaS\PaaS capabilities, core transaction distributed databases, cloud-native application frameworks, etc. while Sunline provides core banking business systems and other related solutions. In the field of data intelligence, Alibaba Cloud has the capabilities of analytical database and data middleware, as well as the overall solution of big data product architecture while Sunline provides financial data business systems and other related solutions. The two parties will jointly create core banking and joint financial data solutions and products.
The new generation cloud-native joint core banking solution released this time has been reconstructed by the two sides of major cloud-native feature technologies such as full distribution, field microservices, application containerization, heterogeneous integrated service grid, and highly available unitization. The joint solution can support the new generation core systems with more flexible business expansion, more reliable off-site multi-activity, more elastic scale scalability as well as more comprehensive operations, maintenance, governance and observability, laying a robust core foundation for the digital transformation of banks.
Sunline is the world's leading financial technology solution service provider, focusing on driving the development of the industry with technological innovation, empowering financial business reformation with financial technology, and providing financial institutions with integrated financial IT solutions such as core business, digital financial business, big data business and comprehensive value management business, serving nearly 1,000 financial institutions in China and overseas.
Alibaba Cloud is a leading global cloud computing and artificial intelligence technology company, providing services to enterprises, developers, and government agencies in more than 200 countries and regions. After several years of continuous investment, Alibaba Cloud continued to maintain the No.1 position in the overall financial cloud market in 2021, and has served 6 large state-owned commercial banks, 12 joint-stock commercial banks and 90% of listed commercial banks, the vast majority of which are core products and services such as cloud, big data, and databases.