S O F T W A R E
S O L U T I O N S
S O F T W A R E
S O L U T I O N S
FUSION BANK AND WEBANK TECHNOLOGY SERVICES FORGE NEW BENCHMARK IN FINTECH COLLABORATION WITH NEXT-GEN CORE SYSTEM
In the digital age , the global financial industry is undergoing rapid transformation , and Hong Kong ’ s Fusion Bank has just unveiled a significant milestone in its digital infrastructure . The bank ’ s new-generation core banking system , launched in October last year , has achieved remarkable results : it has halved the time required for new product development and is projected to reduce non-human IT costs by 53 % over the next three years . This success is the result of a collaboration with WeBank Technology Services , which provided core banking system solutions based on distributed architecture , and Tencent Cloud , which supplied the full-stack proprietary cloud platform and database solutions . The project not only sets a new benchmark for core system upgrades in Hong Kong but also offers valuable experience for Shenzhen- Hong Kong FinTech cooperation .
A new milestone in digital banking
Fusion Bank initiated the project to build a new-generation core system to meet the demands of business innovation and cost efficiency . The project involved integrating and transforming over 150 subsystems across five core business areas . Within just 10 months , the upgrade was completed , with the go-live process taking only 15 hours and the migration of systems and data from various vendors to the new core system accomplished in just six hours .
The new system , built on a distributed architecture , incorporates key features of the digital banking solutions from WeBank Technology Services . It offers low cost , high agility and high availability while maintaining an open nature . The upgraded system can now scale on demand according to business growth , solving the problem of high upfront investment and resource waste associated with traditional one-step solutions . Additionally , the system ’ s capabilities in parameterised products , modular design , process orchestration and AI-native features have significantly enhanced the efficiency of new product launches . The compatibility with mainstream software and hardware also ensures that the bank ’ s operations are no longer reliant on a single supplier or technology platform , reducing the impact of supply chain disruptions .
Significant benefits for fusion bank
“ This upgrade is of great significance to Fusion Bank ’ s long-term development ,” said Fusion Bank ’ s Alternate Chief Executive and Chief Technology Officer , Billy Chiu . “ It not only supports our operations in a more cost-effective manner but also helps us build a sustainable agile innovation capability to respond more quickly to customer needs .” The new product development cycle has been shortened from six months to three months , and non-human IT costs are expected to be reduced by 53 % by 2027 . �
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