The new generation core busines system for Liaoning Rural Credit Corporative built by Sunline was officially launched on August 10. The project realizes an independent and flexible multi-corporate core business system, fully integrating the resources of the entire organization to successfully commence its digital journey.

Liaoning Rural Credit Cooperative seizes the opportunity to transform

As the only local banking financial institution directly managed by the provincial government, Liaoning Rural Credit Cooperative has been the main force of rural finance with more than 2000 institutional outlets with healthy and stable operation, serving more than 18 million people as well as numerous small and medium-sized enterprises. In recent years, with the development of digital finance and the deepening of financial supervision, the business types and volume for the corporative increased, gradually surfacing the limitation of the legacy system in support of the corporative’ s future business development and digital expansion.
Liaoning Rural Credit Cooperative has always adhered to innovation and development in order to catch up to the development trend of financial technology. The cooperative is determined to build a ‘safe, efficient and convenient’ new generation core business system and drive the rural credit market with a strong momentum, empowering the development of financial businesses through in-depth integration of technology and business, customization and differentiated financial products as well as safer, more efficient and convenient financial services to meet the diverse needs of consumers. The demand for localization and individualization burst new vitality to the rural credit market and Liaoning Rural Credit Cooperative is first to replace their legacy system with a new generation core business system.

Sunline selected as the preferred technology partner for Liaoning Rural Credit Cooperative’s new generation core business system project

Provincial rural credit cooperatives have large number of entities under its jurisdiction. Therefore, the core business systems for these corporations must be able to handle high demands and complex management. As a leader among the provincial rural credit cooperatives, the construction of the new generation core business system for Liaoning Rural Credit Cooperative is key reference project.

Sunline began the core implementation project for Liaoning Rural Credit Cooperative in June this year. A group of experts with rich experience in the development, construction and implementation of domestic financial business systems were assigned for the project. Numerous meetings with the corporation were held to formulate data standards as well as to gather requirements and feedback. Prior to the implementation, different analysis and tests were performed in order to create the multi-corporate core business system that possesses robust, cutting-edge technological architecture, is customer-centric and highly scalable.

As the nation was still affected by the epidemic during the implementation phase, Sunline’s project team have stayed at project site, avoiding travel and taking necessary precautions. The company also played its part to provide anti-epidemic supplies and relieve staff pressure, advancing project progress in an orderly manner while ensuring staff safety.

With 11,3826 production executions, 550 production tasks, 11,3826 verified cases and 41 hours of implementation, the project has successfully reached the decision point of the system's ‘internal trial’ and on August 10, the new generation core business system for Liaoning Rural Credit Cooperative was successfully launched. The new generation core business system is a forward-looking and cutting-edge innovation that can fully support the business development needs of Liaoning Rural Credit Cooperative for the next 8 to 10 years.

The new generation multi-tier legal entity core business system comes with outstanding capabilities and is becoming the new benchmark for provincial rural credit cooperatives

Multi-tier legal entity is a major feature of provincial rural credit cooperatives and integrating the resources of the corporation to form a joint force without losing the independence and flexibility of the legal entity’s is one of the main challenges in the construction of the new generation core business system. Hence, Sunline tailor-made a set of multi-tier legal entity core business system that meets the needs of the bank's business development for Liaoning Rural Credit Cooperative. The system has advanced technical architecture, robust performance, comprehensive business functions and high scalability which can fully support comprehensive financial services.

1. Establish multi-tier legal entity differentiation functions to truly realize customer centricity

The new generation core business system upkeeps the operational requirements of a multi-tier legal entity, supporting data isolation, hierarchical sharing and personalized demand configuration among different legal entities. The system not only allow sharing of information in the entire corporation, also enables isolation of information of special customers and integration of customer resources in the whole corporation, unifying customer marketing and management and fully meeting the transformation needs of Liaoning Rural Credit Cooperative.

2. Advanced technology architecture with efficient docking of existing systems

The new generation core business system adopts a service-oriented architecture, SOA approach; has good cross-platform, cross-database, and uses a localized X86 cluster deployment model. Through virtualization measures, procurement and maintenance costs are greatly reduced. The system also adopts the grayscale release mode of the Gateway middleware provider version of Sunline, which completely solves the pain points of different legal entities having different processing procedures for the same transaction.

3. Product configuration that greatly improve business processing power and efficiency

The new-generation core system realizes more flexible interest rate factories, rate factories, and differentiated pricing; supports flexible product customization and can decentralize product sales attribute configuration functions to legal entities allowing legal entities to independently configure deposits within the system's product framework. The interest rate and term of the product can fully meet the individualized requirements of various legal entities.  The system also realizes the integration of domestic and foreign currencies, provides group account management functions and builds zero-level and first-level liquidation between legal entities to improve liquidation. The system also enables real-time price and tax separation, international settlement as well as free trade zone business.

4. Cross-over that improves system processing performance

The new generation core system adopts mechanisms such as transaction accounting separation, lending separation, hot account processing and database sharding. Through cluster deployment, transaction processing performance is greatly improved. The concurrent processing capacity of the system has been increased from 385 transactions per second in legacy core to 10,000 transactions per second, end-of-day batch processing time has been shortened from 5 hours to 1.5 hours and batch collection speed for a single account has been increased from 20,000 transactions per hour to more than 500,000 transactions per hour, increasing efficiency by more than 25 times and completely solving the bottleneck problems faced by the cooperative.

Through this benchmark core modernization project, Sunline has helped Liaoning Rural Credit Cooperative achieve a comprehensive upgrade of its own technology and business capabilities and also become the first provincial rural credit corporation to transform, providing an important basis and becoming a significant reference for the subsequent core business system modernization of rural credit corporations in China.