During the Financial Core Pioneer Alliance Meeting on February 24 2023, Sunline and Alibaba Cloud jointly released their “Cloud-native Core Banking Solution”. The solution will support the cloud-native reconstruction and smooth migration of the legacy core banking system, providing the most solid foundation for the digital transformation initiatives of banks.
The "Guiding Opinions on the Digital Transformation of the Banking and Insurance Industry" issued by China Banking and Insurance Regulatory Commission in 2022 had put forward the requirements of technological capabilities construction for the banking and insurance industries, including improving the flexibility of infrastructure resources and continuous supply capabilities, realizing gradual independence in development, design, and upgrade capabilities for distributed architecture, establishing agile R&D operations that can quickly respond to the needs of maintenance system, as well as achieving key technologies and key information infrastructure R&D capabilities, etc.
In order to fully support the digital transformation of the banking industry, Sunline and Alibaba Cloud have formally reached a comprehensive collaboration in 2022. With 20 years of deep experience and knowledge in the financial technology field, leading innovation and R&D capabilities in core banking system, as well as the first self-developed distributed core banking system, Sunline has become a strong alliance for Alibaba Cloud. The collaboration between the two parties also included setting up a special technical team to carry out in-depth integration of Sunline's new generation cloud-native technology platform and core banking system with Alibaba Cloud SOFAStack, cloud-native distributed database, Feitian cloud technology base, etc., through "application technology integration", jointly creating cloud-native key core capabilities.
The team took 10 months to complete high-performance and stability tests and verifications in key scenarios for core banking systems such as current transfers, account inquiries, as well as interest settlements and entries. At present, the joint solution has completed the technology stack and product system integration. Based on the standardized integration of components, the joint solution focuses on distributed transaction consistency and high-performance processing requirements of the core system in terms of unitized architecture specifications and standards, distributed transaction integration, database performance optimization, as well as full-link monitoring and emergency responses, including:-
Full-stack distributed and self-developed technical support (deployment integration): Ali Financial Cloud Zone and full-stack technology products realize the deployment and high-performance testing of Sunline's new generation cloud-native technology platform (APS) + core system (V8).
Unified technology platform and implementation process (process integration): Based on Sunline's new generation cloud-native technology platform, the solution is built based on integrated platform capability covering design state, research and development state, operation state, as well as operations and maintenance state, to support business modeling, domain-driven design, full-stack application life cycle management of application development, application operation, architecture governance, as well as operations and maintenance inspection.
Unitized multi-active architecture (architecture fusion): Based on unitized top-level design, the solution supports application-level and enterprise-level unitized architecture design features, jointly creating cloud-native core application unitized architecture and master data standards to achieve standardization of technical components on both sides.
Intelligent operation and maintenance monitoring (operation and maintenance integration): Starting from core operation and maintenance scenarios, the solution integrates high-availability support system to realize "first aid kit" intelligent diagnosis and actions of application components, technical components and infrastructure.
High-performance stability (high-performance integration): Online (query/transfer) and end-of-day batch (withdrawal and settlement) have been optimized with 30-50% improvement in key indicators such as transaction throughput, response time, and resource overhead, with the reading of overall disaster recovery ability RTO = 0/RPO < 1 minute.
In addition, the cloud-native core banking solution has passed the environmental and system tests of both Sunline and Alibaba Cloud, being able to fully support the cloud-native reconstruction and smooth migration of the core banking system, providing a solid foundation for the transformation and future-proofing of banks in the digitalization era.
Moving forward, Sunline will further leverage its advantages as a world-leading financial technology solution provider and the collaborations with Alibaba Cloud and other partners to continuously promote technological breakthroughs, build a core technology ecological chain, and contribute to the digital transformation of the financial industry worldwide.