23 April 2018 - Leading banking software and technology services provider, Shenzhen Sunline Tech Co., Ltd (Sunline) (SZSE stock code: 300348) and Tencent jointly announced strategic cooperation to provide intelligent finance solutions for global financial institutions. In addition, Tencent’s strategic investment in Sunline of approximately RMB400 million or equivalent to 7.14% of share will ply a deeper cooperation in capital investment and business strategies for both companies. The innovation resulting from the collaboration of both giants will empower the banking industry, further realizing “banking everywhere” in a seamless way.
Sunline and Tencent will conjointly launch a brand-new portfolio, integrating the respective technology advantages of both companies. Fusing Tencent Cloud’s technology in cloud computing, big data and AI platform capabilities, Sunline aims to help banks achieve “banking everywhere” through seamless integration with social media and mini programs like WeChat, QQ etc.
Apart from boosting the advancement of China, this strategic cooperation also aims to strike transformation in the global industry. Matthew Chen, Sunline’s Overseas Business Group CEO, stated, “Sunline has a proven record in leading the China banking industry to go through digital transformation since 2002, from the first invention to launch China’s first JAVA SOA based core banking system to the first digital banking solutions for WeBank in 2014. We are confident that this new business collaboration will lead the traditional financial business model and propel bank services to the next level.”
Aside from the collaboration strategy with Tencent Cloud, according to the latest annual report announcement, Sunline has been named as Forbes China Top 100 Potential Enterprises and Top IDC China FinTech Pioneer in 2017. The commitments in trendsetting Digital Banking in the region through collaborations with international banks like CIMB Bank as well as its recent wins in SEA reaffirms Sunline’s strategic role in the overseas market.
Since Sunline ventured out of China two years ago, the company has continuously offered technology advancements to elevate the financial industry in the overseas market particularly in digital banking movement. “The recognition from the analyst market and banking customers are the drive for Sunline to continue its aspirations in offering more innovations to reinvigorate the global financial industry” said Angel Tan, Sunline’s Global Marketing Director.
2018 has also marked several milestones for Sunline so far. Being the only Financial IT Solutions Provider in China to be featured in IDC Asia Pacific Financial Insights on core modernization (Perspective: More Game Changers in Asia/Pacific's Race for Connected Core Banking), Sunline is proud of its powerful digital banking solution, which the company has been actively pitching to banks across the APAC region. Sunline scored yet another achievement when IDC named Ping An Bank as Asia Pacific’s Leading Financial Service Innovators for Core Innovation, the only winner from China at the 2018 Asian Financial Services Congress.
