Data is a collection of facts, signals or symbols
Information is a collection of data organized and sorted in a consistent manner
Knowledge is a collection of information and its related context
Wisdom is the ability to choose the best way to achieve the target result based on knowledge
As more Internet Giants shift to big data middleware, financial institutions are picking up the trend, making the shift to big data middleware as an important part of their digital transformation initiatives.
Data-oriented approach empowers digital transformation of financial institutions
Financial institutions have entered the stage of end-to-end digital transformation for channels, transactions and analysis. Data is now the core asset. With the correct tools, data not only can provide real-time risk control and rapid decision-making but also improve the accuracy of customer profiling to allow more relevant services, reduce customer acquisition costs, supports traditional business optimization and business innovation as well as can significantly improve the overall operational efficiency and risk control capabilities of the financial institution.
Financial institutions are looking for a vertically integrated full-stack solution that is flexible in allowing consolidation of data, breaking data silos and liberating the limitations of current approaches. Moreover, although financial institutions have a relatively complete data warehouse, data value are seriously affected as these data need to be applied through reports, flexible queries or mining models. Big data middleware solution can effectively address the problems faced by financial institutions and provides more efficient and economical data analysis.
Sunline develops big data middleware for Minsheng Bank’s Credit Card business
Based on years of experience in bank IT services, Sunline has refined a set of data platform solutions rooted in financial business logic and IT architecture which has been tested in practice and demonstrated strong market competitiveness.
At the end of last year, Minsheng Bank Credit Card Business has engaged Sunline to develop a big data middleware system that can fully access the front-end business system and back-end data platform and improve data responsiveness to their credit card businesses. Minsheng Bank Credit Card Big Data Middleware project is still ongoing but the proposed solution architecture and professionalism displayed have received positive reviews from the bank.
With the big data middleware, Minsheng Bank Credit Card business will be able to:
• Deeply integrate front-end and back-end business systems to achieve diversified data services and become an intelligent business system
• Provide customized services to customers and enhance customer experience
• Promote business development and realize the credit card business goal of know-your-customer (KYC).
Why financial institutions choose Sunline’s Big Data Middleware Solution?
The mission of Sunline’s Big Data team is to help customers maximize the value of data assets. Adhering to this mission, Sunline’s big data solutions have empowered customers in multiple fields including banking, securities, funds, insurance, trust, financial companies as well as fintech companies.
Sunline’s Big Data Middleware Solution comprises of functions including but not limited to data collection, data storage and computing, data services, data applications, data asset management as well as data development, operations and maintenance. The solution not only store, ingest and process data but also accelerates respond to demand and enables data reuse to maximize value of data assets:
• Realizing reusable data service
• Avoid the need to separately develop components and cost to cobble them together
• Empower general business capabilities, reducing the burden on the front desk
• Standardized service interface to improve operational efficiency
• Improve enterprise management and product innovation efficiency
Sunline Big Data Middleware Solution gradually realizes various data capabilities of the data center through a four-step evolution strategy:
1. Building common data tools into platforms
Constructing commonly used data capabilities into platforms such as data acquisition and exchange platform, real-time data processing platform, integrated data service platform, etc.
2. Developing and configuring platforms
The development and configuration of data collection, data exchange, data synchronization, data analysis, etc. are carried out to improve the efficiency and standardize the quality of development.
3. Enhancing data services capabilities
Carry out data encapsulation according to different scenarios to achieve the rapid response capability of data services
4. Setup clear management responsibilities
Clarify data management responsibilities, set up full-time positions and perform management responsibilities such as data asset management, data product development and data value play to achieve digital business
Equipped with Sunline’s accumulated knowledge and experiences in the financial technology field for the past 20 years, Sunline Big Data Middleware Solution helps financial institutions mine accumulated data and maximize data value to effectively reduce risks while creating more economies benefit.