Recently, Sunline won the bid for the new core system project of Gansu Rural Credit. After successfully helping Liaoning Rural Credit launch their first digital provincial rural credit core last year, Sunline once again won another new digital provincial rural credit core project, further emphasizing the confidence of Sunline’s digital provincial rural credit core system in the industry.
As a local financial institution directly managed by the Provincial People's Government, Gansu Rural Credit Union has always been the main force in the province’s rural credit, involving in the healthy and stable operation of more than 2,300 institutional outlets across the province. In recent years, the business types and business volume of Gansu Rural Credit have continued to increase. As of the end of December 2020, the deposit and loan market share of Gansu Rural Credit ranks first among financial institutions in the province. The original core system supports inclusive finance and future business development but the limitations gradually became apparent. In order to deepen the reformation and accelerate development, Gansu Rural Credit decided to build a new generation digital core system to drive the high-quality development of its various businesses with strong momentum as well as continuously improve the quality and efficiency in serving the real economy and supporting the development of "agriculture, rural and farmers".
For a long time, provincial-level rural credit institutions have been characterized as legal entities with complex management levels, changeable business requirements, flexible liquidation of funds and unique agricultural-related businesses. The technical system requires security, stability and ease-of-use functions to realize a combination of “steady” and “adaptable” states (steady state: high availability and security; adaptable state: open innovation, flexible and expandable). Therefore, the standard in selecting the core system vendor is very high for Gansu Rural Credit. The vendor will not be only required to have leading technical indicators and business functions but also a core system with sufficient flexibility and stability to better support the three main businesses of Gansu Rural Credit.
As one of the most influential financial institution in Northwest China, Gansu Rural Credit’s new core project has important significance for other banks in Northwest China. It is a key project for financial IT vendors to explore the Northwest market and is also a key project to open up the provincial rural credit market in the country. Hence, the industry's strongest IT vendors have joined the tender.
In the POC stage, Gansu Rural Credit have selected about 100 business and technical fields to evaluate the capabilities of the four participating vendors from multiple dimensions such as product functions, technical architecture, system performance and service capabilities. Sunline participated with the professionalism of the Solutions Team which composed of the R&D Department, Project Delivery Department, etc., convincing Gansu Rural Credit with high recognition and service professionalism.
During the process, Sunline organized a team to study and communicate repeatedly with Gansu Rural Credit to fully understand the requirements of the financial institutions, putting forth a development plan for the Gansu Rural Credit based on Sunline’s years of implementation experience in the core system of banks, ultimately winning the tender with outstanding advantages.
Highlights of the core system
1. Advanced technology, taking into account both “steady” and “adaptable” states
Sunline’s core banking system is the industry's first “microservice + unitized” distributed core with full technical foresight, cutting-edge technology, high availability, full scalability and can perfectly achieve both “steady” and “adaptable” states. It is inclusive and supports multi-legal operations to fully support the fast-growing business needs of Gansu Rural Credit.
2. Strong financial product and pricing factory
Sunline’s core banking system is built with a comprehensive financial product factory which supports flexible product customization and differentiated pricings, enabling delegation of the configuration function of various dimensions of the product to the legal entity. The legal entity can independently configure the product within the product framework of the system to realize the rapid product innovation, intelligent product management and scientific product pricing. The agricultural business attributes precipitated by the factory and pricing system are highly adapted to the requirements of the rural credit system, helping Gansu Rural Credit to quickly enrich their financial product line.
2. Rich experience with nearly 100 successful cases
Sunline has been deeply involved in the core financial field for nearly two decades. With a deep understanding of banking business and rich implementation experience, Sunline has implemented core banking systems for nearly 100 banks including state-owned banks, joint-stock banks, provincial rural credit banks, city commercial banks and rural commercial banks, creating a number of benchmark projects in the core system field.
Winning the new core project for Gansu Rural Credit, Sunline will empower the credit cooperative with technological innovation, promoting high-quality development for Gansu Rural Credit, enabling the credit cooperative to actively adapt to the new development stage and enabling the credit cooperative to realize outstanding results for the credit cooperative's 100th anniversary. Sunline will also take this opportunity to expand its wings into the provincial credit cooperative segment and serve more credit cooperatives with advanced core systems and rich experience.