JAKARTA, Indonesia, June 12, 2020 /PRNewswire/ -- Recently, Huawei and Sunline signed a contract on the Internet banking core system project of Bank Yudha Bhakti (BYB) in Indonesia, providing customers with integrated joint financial technology solutions. Huawei and Sunline will enable Chinese financial enterprises that are going global with China's leading models, businesses, and technologies in the field of financial technologies, accelerating digital transformation, helping Chinese financial enterprises improve the level of openness and the capability of scientific innovation, and facilitating the enterprises to quickly establish a foothold in the markets outside China.
BYB is an Indonesian bank acquired by Akulaku, the largest financial technology company in Southeast Asia that has over 7 million active users in Indonesia. It is one of Akulaku's critical strategies this year to transform banks in a digital manner and streamline bank services such as deposit, loan, and transaction with users and services inside Akulaku's ecosystem, implementing closed-loop financial services. Faced with the enormous number of Internet service requirements, the original architecture, performance, and design of BYB's banking system can no longer handle the massive amount of data and high-frequency transactions in the Internet era. As a result, BYB desperately needs to replace its systems to start the digital transformation and drive business transformation with digital technologies. After factoring in several aspects such as competitiveness in the industry, technological advancement, case experience, and localization, BYB ultimately chose Huawei and Sunline as its partners in this project.
Huawei works with Sunline to provide a leading joint solution for BYB. By combining the digital banking products of Sunline with Huawei's products such as FusionCube and OceanStor all-flash storage, the solution provides customers with comprehensive infrastructure and system integration, which not only solves the technical problems faced by BYB but also provides strong support for the digital development of BYB and ensures the rapid development of the bank in the future.
There are a large number of Chinese financial enterprises going global that have a model similar to BYB. It has become a new trend in recent years for Chinese financial enterprises to seek new development opportunities outside China. However, opportunities and challenges often coexist, and financial enterprises have to face various challenges when going global. It is difficult to localize the original system, the existing software and hardware cannot sufficiently support the development, and the industry chain is difficult to sustain.
China's Financial Enterprises Are Going Global for Better Development
It has become a commonality for financial enterprises to go global by leveraging the new technologies, new business forms, and new concepts of financial technologies to initiate the digital transformation.
To address the challenges faced by Chinese financial enterprises when going global, Huawei and Sunline have jointly developed an integrated solution, which consists of a high-performance hardware system provided by Huawei and a leading application solution in the field of bank IT system, featuring high scalability, strong data consistency, automatic O&M, and risk control. The solution provides one-stop financial services for Chinese financial enterprises going global, helping them quickly complete digital transformation.
Sunline is a world-leading financial technology solution provider. With long-term and profound experience in the application field of the finance industry, Sunline has provided IT solutions for over 700 financial institutions around the world. Four years ago, Sunline started working on its global layout. It has service sites in Singapore, Malaysia, Thailand, and Indonesia, and with its deep understanding of local requirements, it has obvious advantages in localizing financial IT projects.
Huawei helps financial institutions achieve digital transformation in inclusive finance, data-driven service innovation, and open banking, implementing full connectivity and service agility with our global partners. Currently, Huawei has served more than 1600 financial customers worldwide, including 45 of the world's top 100 banks.
Sunline will continue to deepen its cooperation with Huawei to promote industry innovation and build a digital ecosystem, so as to better enable global financial and pan-financial institutions with China's leading financial technologies and facilitate fast digital transformation for the global finance industry.