China Resources Bank partners with GienTech to advance fintech solutions for the GBA
HONG KONG, Nov. 21, 2023 /PRNewswire/ -- 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 – 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, 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. Designed specifically for critical industries such as finance, ORIGIEN reflects GienTech's almost 30 years of industry expertise and incorporates the latest technologies to help financial institutions upgrade their systems, enhance their capabilities, and accelerate digital transformation. ORIGIEN has been successfully implemented in more than 100 projects in Asia to date.
The Financial Infrastructure Innovation Platform, co-developed by China Resources Bank and GienTech, 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, China Resources Bank and GienTech are building an updated core banking system as well as a new supply chain finance platform and a new mobile banking platform. After the cloud platform's feasibility, security, and reliability have been validated through core business scenarios, the rest of the bank's financial transaction systems will be migrated to the cloud in phase two.
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 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. William Wong, General Manager of GienTech Overseas BFSI (Banking, Finance, Security, and Insurance) & Business Unit HK, said: "GienTech plans to deepen our presence in the GBA and further increase our investment in Hong Kong in the near future. Our goal is to empower the digital transformation of the financial sector and other key industries in the region with our comprehensive 'ORIGIEN + Solution + Service' business model."
As part of the ongoing cooperation on the Financial Infrastructure Innovation Platform, GienTech and China Resources Bank are now readying a new mobile banking platform for a trial run by the end of this year, further advancing fintech solutions for the GBA.
Founded in 1995, GienTech has a total of 42,000 employees across China and in overseas markets, serving over 600 financial institutions and more than 160 Fortune 500 companies. GienTech has ranked first in the IDC China banking IT solution market for six consecutive years and has been selected in the global top 100 in the IDC Financial Insights FinTech ranking for eight consecutive years. Its strict quality and management principles have passed CMMIL5, ISO27001, ISO9001, ISO20000 and many other international certifications. It is a global leader in project management, quality management and engineering management of software development.
About China Resources Bank
China Resources Bank of Zhuhai was established in December 1996. Building on the strong background and brand advantages of China Resources Group and other shareholders, China Resources Bank, as a bank rooted in the core area of the Guangdong-Hong Kong-Macao Greater Bay Area, is actively contributing to the development of the Greater Bay Area. China Resources Bank is committed to building a digital intelligent platform with the Financial Infrastructure Innovation Platform as pillar. As a technology-driven industrial bank, it is focusing on six areas: industrial finance, inclusive finance, wealth management, green finance, technology finance, and cross-border finance. The bank provides customers with intelligent and comprehensive financial services and strives to become the first choice of entrepreneurs, innovators, and creators.