On November 22, 2022, Sunline commemorated Gansu Rural Credit Cooperative in the occasion of their 17th anniversary of the Establishment by successfully putting the new generation core business system into production, benchmarking the institution as the first provincial rural credit practice case for Sunline's V8 core system in the western region and marking a solid step in the digital transformation strategy of the institution.
Facing the challenges of rapid business growth head-on
Gansu Rural Credit Cooperative was founded on November 22, 2005 as a local financial institution directly managed by the Gansu Provincial People's Government, with 83 legal entities including 37 rural commercial banks, 5 rural cooperative banks, 41 county-level associations, more than 2,200 business outlets, more than 10,000 convenient financial service points and service terminals, and more than 22,000 employees to serve the people. As of the end of June 2022, the balance of various deposits was RMB 519.742 billion and the balance of various loans was RMB 383.20 billion, ranking first among banking institutions in the province.
However, with the rapid development of business, Gansu Rural Credit Cooperative was facing challenges associated with accelerated product innovation and increasingly stringent requirements of regulatory authorities in the mobile Internet era, hence, it is necessary for the institution to reconstruct the original core system architecture and business system to create a new generation core systems that is future-proofed, secure, efficient and able to meet the requirements of professional operation.
The criteria for selecting core system service providers in Gansu Rural Credit are very strict, which not only requires the leading technical index performance and business functions of the core system of the service provider, but also requires its core system to have sufficient flexibility and stability to better support the "three rural areas" business of Gansu Rural Credit Corporation.
Sunline V8 core business system is the industry's first "microservices + unitizes" distributed core with forward-looking, advanced, high availability and scalability capabilities, perfectly realizing the compatibility of "steady state" and "sensitive state", supporting multi-legal person operations which can fully support the business needs of the rapid development of Gansu Rural Credit Cooperative.
In addition, Sunline deeply understands the needs of banks. Combined with 20 years of implementation experience in the core system of banks, Sunline’s proposed scientific solutions is most suited for the future development of Gansu Rural Credit Corporation, helping the institution embark on a new journey of serving "three rural areas", rural revitalization and the local economy with modern financial technology.
Remarkable results with quasi-dual-effect data
Sunline’s project team has a peak of 38 and an average of 25 on-site manpower, responsible for the development of 6 core system modules including public (cash, vouchers, institutions, tellers, pricing), deposits (for business, private, debit cards), loans (loans, debt assets), customer information (customer management, list management, customer risk), general ledger (accounting engine, big ledger, statements), equity capital; docking payment, credit, digital banking, intermediate business and other 27 major peripheral systems.
Gansu Rural Credit Cooperation is one of the local financial institutions in Gansu Province with the widest distribution of institutions, the largest number of outlets and employees, the deepest sinking inclusive financial services, and the closest connection with the "three rural areas". The intertwined business, resulting in complex system construction and many related systems further escalates the difficulty of the project. However, the project team braved difficulties and planned to ensure the construction of the entire core system, and after more than 20 data migrations and 7 rounds of online drills, including 3 rounds of full-line practical exercises, the core was put into production in late November 2022.
The new core system will achieve the following goals:
Unified management of customers in the whole bank by changing the problems of inconsistent customer information and inability to identify customers in previous credit card system and core system, and provide a unified view of customers, accounts, data standards, and customer reporting.
Rapid product innovation with the use of parameter configuration and product factory has changed the problem of long and slow response in previous product development, realizing quick launch of new products to better serve customers.
Differentiated pricing to achieve multi-dimensional and multi-level pricing support, helping the organization provide better pricing for high-quality customers through customer identification, customer rating, and customer contribution and supporting the organization's marketing strategy to prioritize key customers.
Separation of transaction and accounting solves the problem of uneven accounting in the branches of various legal entities, and making great improvements in accounting processing and position balance monitoring to realize real-time early warning and greatly improve the security of capital position accounts between various legal persons.
Multi-legal entity structure model of the new core system has changed the business product rules that can only be used by default, allowing each legal person to set up product rules, pricing models and marketing forms according to its own requirements.
Microservices architecture decoupled between services improves the high availability and dynamic expansion capabilities of core systems, quickly responding to the business requirements and greatly reducing the risks and costs of system construction, upgrade, and O&M.
The adoption of hierarchical architecture realizes effective separation of data, services, transactions and displays, realizing the separation of business data and business logic, loose coupling between system modules, and reasonable distribution of functions to adapt to changes in IT systems, services, products and processes.
The adoption of open platform design uses development technology independent of middleware platform and database platform, as well as open, versatile and secure software and hardware platforms.
The new core system has greatly improved data integrity, authenticity and logic, making up for the incomplete customer information, incomplete account information and insufficient details of internal account management in the original core, providing real and reliable data certificates for supervision and reporting. After the new core system went live, it ran stably with more than 10 million transactions during the day, and shown outstanding end of the day efficiency with 35-minute end of the day record and 20-minute end of the general ledger.
During the whole project construction, leaders of the provincial institution gave a lot of support and care to the project team. One month before the launch, the epidemic situation in Lanzhou was serious, and in order to ensure the smooth launch, key operators stayed in the computer room, and the rest used the remote operation mode ins hotel isolation room to complete data inspection and problem troubleshooting. But it all stopped at the test, "It's a miracle to be able to go live on time during lockdown." state the person in charge of the bank.
Gansu Rural Credit Cooperation not only uses the power of financial technology to give strong momentum to the high-quality development of various businesses, but also dispatches a large number of business personnel from various banks to deeply participate in system requirements and testing, cultivating a number of business and technical backbones for the digital construction and long-term development of banks.
As one of the most influential financial institution in Northwest China, the new core system project is of great exemplary significance for Northwest Territory. Sunline will continue to uphold a professional attitude, be responsible for customer needs, and contribute to the digital transformation of more customers in the future.
