The "Fintech Development Plan (2022-2025)" emphasizes that financial institutions should comprehensively strengthen data capacity building, fully activate the potential of data elements, and effectively improve the quality and efficiency of financial services. Data asset management has become an important driving force for financial institutions to accelerate digital transformation.

Sunline has successively provided data asset management products and solutions for more than 100 financial institutions in the banking and securities industries. Since 2016, Sunline has further developed the financial company market and successively provided big data Solutions for 12 financial companies. Recently, Sunline has successively won the projects for FAW Financial Data Asset Management Platform and Data Indicator and an Asset Project for a large financial companies, enabling these financial companies to give full play to the value of data assets.

Data capitalization is imperative

Facing the "14th Five-Year Plan", the task of digital transformation of financial companies is more urgent. Establishing an efficient and secure data asset management platform, promoting data transparency, convenience, and accessibility, and realizing business data assetization have become urgent problems for major financial companies to solve.

However, compared with the rich technical reserves and practical accumulation of banks in the field of big data, the exploration of data capitalization by many financial institutions, including financial companies, has just started. Faced with the complicated and massive data information, finding an effective financial management method for data asset management is still in the exploratory stage for most financial companies due to:

1. Lack of a complete data asset management system, making it difficult to plan data asset management from a macro and overall perspective.

2. Lack of guidance on data asset management practice paths and staged outputs.

3. Weakened data value as the driving force for data asset management makes it difficult to promote a virtuous circle of data operation and business innovation.

If companies dare to be a pioneer, every step creates history. As a leading domestic financial company, FAW Finance and another large financial company took the lead in pioneering the field of data asset management.

FAW Finance Corporation drives digital transformation with data as the engine

Under the guidance of China FAW's overall digital strategy of taking core and data as the engine, FAW Finance started a data asset management platform project in early 2022, aiming to realize data asset catalog management, data standard management, data quality management, metadata management, and other integrated functions.

FAW Finance was established in 1987. As of 2020, there are 11 automobile industry finance companies in the country, and FAW Finance Company ranks first in ROE. After years of digital exploration, FAW Finance has accumulated abundant data resources. Facing the continuous acceleration of the digitalization process, it is imperative to use data as the engine to give full play to the value of data assets.

Sunline accurately positioned the needs of FAW Finance in the transformation stage, and the self-developed data asset management platform was highly suitable for the project needs, winning the project in one swoop.

By establishing an efficient and secure data asset management platform, Sunline will help FAW Finance carry out unified inventory, maintenance, and management of data assets, laying a solid foundation for business applications and data acquisition. With the continuous and dynamic full life cycle management process, data assets can provide continuous power for the digital transformation of the company.

A large financial company breaks data silos and shares data resources

A large financial company with main operating indicators among the best in the industry has responded to the group's digital transformation requirements and improved data efficiency, launched the "Data Indicators and Assets Catalog" project in early 2022.

Sunline customized a comprehensive solution for the island problem faced by the financial company's data platform:

1. Establish a unified index platform, integrate and unify the company's internal index caliber, meeting business requirements such as business analysis and regulatory submission.

2. Conduct a comprehensive inventory of data assets, build a data security management system with data assets as the core, improve the security and life cycle management of data assets, ensure data security compliance and maximize data value.

With the data platform of the large financial company entering the stage of application construction with data value extraction and empowerment, the implementation of this project will help open up online and offline data processes, realize standardized management of data indicators, improve the quality of data assets, and allow data resources to be shared to create greater value.

Sunline has been deeply involved in the big data business for many years. Facing the urgent transformation needs of financial institutions in the era of big data, the company continues to strengthen its full-stack big data capabilities, provide customers with high-quality solutions and service experience, and make full use of the open and agile financial technology ecosystem to empower customers’ digital transformation to continuously operate data assets and mine data value.