Sunline Empowers Guangfa Bank to Step into the New Era of Digital Electronic Invoicing
Fintech News

On April 29, 2024, Sunline successfully assisted Guangfa Bank in issuing its first comprehensive digital electronic invoice. This milestone marks Guangfa Bank as the first bank in Guangzhou to directly connect its headquarters to "Happy Enterprises" and symbolizes the bank's entry into a new "digital" phase of tax management, heralding a new era of comprehensive digital electronic invoices!


Guangfa Bank Co., Ltd. (hereinafter referred to as "Guangfa Bank"), as one of the first nationwide joint-stock commercial banks established in China, upholds the spirit of "daring to be the first" and has repeatedly pioneered the industry. The upgrade of Guangfa Bank's tax management system is another demonstration of its leadership in the industry.


Currently, China is promoting the construction of the fourth phase of Golden Tax, focusing on the goal of building a smart tax system, and striving to promote "dual integration, three-terminal, and four integration." As the tax collection and management method shifts from "controlling tax through invoices" to "managing tax through data," the comprehensive digital electronic invoice system has gradually expanded from initial trials to nationwide coverage. Financial institutions, in particular, have become the vanguards in promoting the transformation and upgrading of financial intelligence.


In response to the trend of digitalization, Sunline tailored a comprehensive digital invoice application solution for Guangfa Bank, covering multiple functions such as digital invoice issuance, verification, authentication, deduction, posting, tax declaration, and digital invoice management. This solution effectively integrates digital invoices with transaction flow information, significantly reducing the manual workload of supplementing transaction records with invoices and helping the bank achieve full electronic management of invoices.


After the project went live, Guangfa Bank achieved full online processing of special and general invoices in all scenarios. Bank customers can apply for and issue various types of value-added tax invoices through online channels such as corporate online banking, corporate mobile banking, personal mobile banking apps, and Discover Wonderful App, without the need for branches to mail invoices, thus saving time and costs associated with invoice delivery. This has further facilitated the bank's tax management for customers in the "accelerated era."


The successful implementation of this project reflects Guangfa Bank's leading position in the field of tax digital invoice management and serves as a demonstration and leading role in the industry.


Looking ahead, as the trend of digital invoice applications unfolds, Sunline will continue to collaborate with more financial institutions to jointly drive the deepening transformation of financial intelligence and establish an outstanding example of digital transformation in the financial industry.

About Guangfa Bank

Guangfa Bank, established in 1988, is a leading commercial bank in China with a comprehensive range of financial services. The bank has a robust network spanning across the country, offering a diverse array of retail banking, corporate banking, and financial market services. With a commitment to innovation and customer-centricity, Guangfa Bank strives to provide exceptional banking experiences for its customers. Its robust financial performance and strong capital position enable it to continue expanding its business and serving its clients with excellence.

About Sunline 

Shenzhen Sunline Tech Co., Ltd., also known as Sunline, is a globally leading provider of financial technology solutions. Since its establishment in 2002, Sunline has been dedicated to offering comprehensive financial IT solutions for financial institutions, covering core banking, internet finance, data management, and administrative services. In the wave of digital transformation, Sunline has leveraged its outstanding technological prowess and profound industry expertise to provide robust support for numerous banks and financial institutions in their digital transformation efforts.

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