Recently, the new generation distributed core for Postal Savings Bank of China’s (PSBC) personal banking business has been successfully launched. This core banking system is the first among large banks adopting both enterprise-level business modeling and distributed microservices architecture with domestic hardware, operating system and database. The construction depicts a major practice of independent and controllable key financial technologies in China's banking industry. As the key partner in this project, Sunline escorted the construction of the new core technology platform and related business components, playing a major part in empowering the digital transformation of PSBC with technologies.
The transformation of Postal Savings Bank is opening a new chapter of large state-owned bank’s core system
As early as 2019, PSBC has started their pre-research work on the next-generation financial core. At that time, the digital transformation of commercial banks had just begun. As a large state-owned commercial bank with a large number of branches, a broad geographical coverage and a deep service coverage, PSBC was thinking about how to build a durable and differentiated core competitiveness through digitalization.
The core system is the main engine of a bank, and it is also an important manifestation of a bank's technological strength. When the traditional core can no longer support the rapid development of their business needs, PSBC actively responded to the national information technology independence and control strategy, jumped the bandwagon of the digitalization and financial ecology development trend, made every effort to build a new generation core for the bank’s personal banking business and grasped the initiative of independent innovation to build the bank’s future competitive advantages to promote high-quality development.
In order to lay a strong foundation for future innovation and development, the construction path of the new core system of PSBC is driven by business and technology. Through enterprise-level business modeling, the complexity is simplified and the core transaction process is reshaped. The componentized model drives business agility while calmly responding to market changes and customer needs. Distributed unit deployment realizes elastic expansion and supports business changes in real time. As a bank-level technical base, the technology platform is the most important technical underlying structure of the core system, which directly determines the ability of the core system to support business development. Relying on years of innovative practice in the field of core systems, Sunline has deeply participated in the construction of PBSC’s new core technology platform. The platform adopts the most advanced unitized microservice architecture design, and realizes an infinitely scalable architecture based on the elastic scaling of microservices and the horizontal expansion of standard deployment units of unitized architecture. It can carry massive transactions and data demands for business development, fully supporting PSBC’s "five modernizations" business transformation needs.
In addition, Sunline has also participated in the application development of business components. Through standardized application analysis and design process, combined with decades of experience in banking business, Sunline undertakes enterprise modeling to form three major model assets: integrating process model, entity model and product model to form business domain requirements.
Sunline leads the practice of financial innovation with example
At a time when the innovation-led wave is sweeping the financial industry, the launch of PBSC’s new generation core banking system for the bank’s personal banking business is not only a successful example of the implementation of innovation-led core system transformation of a large state-owned bank, but also provides an important reference for the transformation of the core system structure of China's banking industry, and Sunline has become the co-builder and leader of this historic change.
As a leading national enterprise in financial technology, Sunline have always committed to using self-developed technologies and products to promote the process of China's financial innovation. Integrated "consultation + solution + implementation + project PMO management" service capabilities serves the digital transformation of financial institutions and implementation of innovation-led practices. At present, Sunline has successfully helped many banks such as Ping An Bank, China CITIC Bank, Nanjing Bank, WeBank, Zhangjiagang Rural Commercial Bank, etc. implement innovation-led projects.
For Sunline, the launch of the project is never the end, but a new starting point. As Mr. Wang, Chairman of Sunline said in an interview: "Under the general trend of the innovation-led era, Sunline has been focusing in this field for the past two to three years, exploring new architectures such as cloud and distributed computing based on new models". Sunline will continue to help banks transform their enterprise-level architecture with advanced strengths such as self-developed enterprise-level distributed platform products and technology platforms, continuing to inject impetus into the independent and controllable process of banking financial software!
