Ant Financial Services Group in collaboration with Hoperun Information Technology, a Jiangsu-based firm launches its Distributed Core Banking Platform (DCBP), an advanced and the next-generation banking product that can help financial institutions to revolutionize their models from transaction-oriented to customer-oriented. The platform seeks to support the financial entities to tackle digital challenges, including distributed development, accounting liquidation, and financial product management.
DCBP is the first co-developed product in Ant Financial’s technology portfolio as it has completed the pilot stage after being a core part of the computing systems of several renowned banking partners. This solution is built on the bPass (Business platform as a Service) that enables financial institutions to take advantage of Ant Financial’s offerings in asset management, product management, capital verification, and full-ink pressure test. Ant Financial sought to combine these capabilities with its partner Hoperun’s experience in the finance sector to develop the DCBP solution.
Several banks have claimed that they have significantly accelerated their digital transformation process with the use of DCBP solution. 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.”
Over the years, Ant Financial has provided more than 100 technology products and related solutions to companies worldwide. Ant Financial service Group is dedicated to using technologies like blockchain, AI, IoT, and cloud computing to serve the unbanked and underbanked, bringing in more secure, transparent, cost-effective and inclusive financial services to the individuals and SMEs worldwide.
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."