Ant Financial Launches Distributed Core Banking Platform with Hoperun Information Technology
HANGZHOU, China--(BUSINESS WIRE)--Mar 7, 2019--Ant Financial Services Group (Ant Financial) and Jiangsu-based Hoperun Information Technology (Hoperun) today unveiled its Distributed Core Banking Platform (DCBP), a next generation banking product which is designed to help financial institutions shift their business models from transaction-oriented to customer-oriented. The platform also aims to help financial institutions tackle digital challenges, including distributed development, financial product management and accounting liquidation.
DCBP is the first co-developed integrated solution in Ant Financial’s technology product portfolio. It has successfully completed the pilot stage after running in the core computing systems of several renowned banking partners.
This new solution builds on the bPass (Business Platform as a Service) product which Ant Financial launched in September 2018 during the Ant Technology Exploration Conference. bPass enables financial institutions to benefit from Ant Financial’s capabilities in product management, asset management, capital verification and full-link pressure tests. Ant Financial sought to combine these capabilities with Hoperun’s experience in the finance industry to develop the DCBP solution.
To date, several banks have significantly accelerated their digital transformation process thanks to DCBP. For example, MYbank was able to build its distributed cloud-native capabilities, including flexible scaling, agile development and immediate disaster recovery within only six months.
Liu Weiguang, vice president of Ant Financial, said: “We have enjoyed working with Hoperun to develop this product which marks a milestone for Ant Financial technology. This is just the first of many collaborations that we plan to form with other talented partners that will enable us to provide better technology solutions to the challenges faced by financial institutions.”
Chen Bin, president of Hoperun Information Technology, said: “Hoperun and Ant Financial share a deep understanding of the financial industry, which is why we were keen to join hands to develop DCBP. This solution will help empower financial institutions to customize new business applications and accelerate their innovations.”
Over the past year, Ant Financial has accelerated the roll-out of services that share its technological capabilities with financial institutions. To date, Ant Financial has provided more than 100 technology products and solutions. In collaboration with more than 200 service partners, Ant Financial has helped the digital transformations of over 200 financial institutions, including over 100 banks, around 60 insurers, and 40 wealth management companies and security brokerages.
About Ant Financial
Ant Financial Services Group is dedicated to using technology to bring the world equal opportunities. Our technologies, including blockchain, artificial intelligence, security, Internet of Things and computing, empower us and our ecosystem partners to serve the unbanked and underbanked, bringing more secure, transparent, cost-effective and inclusive financial services to individuals and SMEs worldwide.
Ant Financial has formed international partnerships with global strategic partners to serve local users in those markets, and we serve Chinese travelers overseas by connecting Alipay with online and offline merchants in popular destinations. As of January 2019, together with its global JV partners, Ant Financial served 1 billion users worldwide. Brands under Ant Financial Services Group include Alipay, Ant Fortune, Zhima Credit, MYbank and Ant Financial Cloud.
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Vick Li Wei
KEYWORD: ASIA PACIFIC CHINA
INDUSTRY KEYWORD: TECHNOLOGY INTERNET SOFTWARE SECURITY PROFESSIONAL SERVICES BANKING
SOURCE: Ant Financial Services Group
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PUB: 03/07/2019 03:10 AM/DISC: 03/07/2019 03:10 AM