Editorial Leadership pickup by Digilah (Tech Thought Leadership).
China Resources Bank has debuted two key components of its Financial Infrastructure Innovation Platform – a financial transaction cloud and a new supply chain finance platform.
It is built on ORIGIEN, the financial-grade digital infrastructure developed by digital transformation specialist GienTech.
Promoting the development of sophisticated home-grown financial technology (fintech) in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), the new platform enhances the Bank’s operating efficiency, flexibility, and agility, and fosters innovation to support customers.
Established in Zhuhai in 1996, China Resources Bank actively supports the growth of the GBA.
The Bank signed a strategic partnership agreement with GienTech in December 2022 to advance its technology innovation, build the Financial Infrastructure Innovation Platform, and promote the GBA’s fintech development.
As the digital infrastructure at the heart of China Resources Bank’s Financial Infrastructure Innovation Platform, ORIGIEN enables systematic IT architecture upgrades, large-scale software development, and digital transformation while meeting the high technical standards of the financial sector.
The Financial Infrastructure Innovation Platform will be rolled out in two phases.
Phase one has seen the establishment of the financial transaction cloud, as the technology foundation of the Bank’s digital transformation.
On this cloud platform, is being built an updated core banking system, a new supply chain finance platform, as well as a new mobile banking platform.
Phase two will be set in motion after the cloud platform’s reliability, security and feasibility have been validated through these core business frameworks, and the rest of the bank’s financial transaction systems will be migrated to the cloud.
There is also underway the readying of a new mobile banking platform, which will be ready for a trial run by the end of 2023.
Ultimately, GienTech and China Resources Bank aim to set an industry benchmark for fintech application innovation and actively promote fintech development in the GBA.
The goal is to empower the digital transformation of the financial sector and other key industries in the region with the comprehensive ‘ORIGIEN + Solution + Service’ business model.”
The successful deployment of China Resources Bank’s financial transaction cloud and supply chain finance platform underscores the stability and security of ORIGIEN as a platform for financial services.
Source: PR Newswire
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