Recently, the People's Bank of China announced the winners and awards of the "2022 Fintech Development Award". Among them, the Postal Savings Bank of China's large-scale bank distributed core system construction project based on business modeling was highly recognized and unanimously recommended by the judges for its outstanding innovation in the field of financial technology, won the first prize, and ranked first among 16 first prizes.
The "Fintech Development Award" is jointly organized by the People's Bank of China and the China Securities Regulatory Commission, focusing on the selection of outstanding scientific and technological innovation achievements in the domestic financial field, and the scope of participation covers financial enterprises in the fields of banking, insurance, payment, etc., and the declared projects involve information technology innovation and application, data governance and application, financial information infrastructure security protection and other aspects, which is one of the important awards in the field of financial technology in China, and the award-winning projects represent the latest achievements and trends in financial technology innovation.
The distributed core system of large banks based on business modeling is an independent and controllable system built by PSBC in line with the national strategic needs and insisting on promoting scientific and technological innovation for three years, which is a major innovation in the field of financial technology of PSBC. The system has comprehensively upgraded and transformed the original core system, and has outstanding innovations such as the successful implementation of the distributed architecture of the large-scale financial core system, the first realization of first-class migration and non-inductive switchover, and the reengineering of enterprise-level business modeling process. At the same time, the system is the first large bank to adopt both enterprise-level business modeling and distributed microservice architecture, based on full-stack security and controllable software and hardware to build a new generation of core system, and is also the first core system to run all business around the clock (7*24) on the distributed architecture500 million customers, 1.8 billion accounts for financial services. Its production and launch provides technical support for accelerating the digital transformation of PSBC and building a first-class large-scale retail bank, and also provides an important reference for the transformation of the core system architecture of China's banking industry, making PSBC's scientific and technological strength among the top banks.
In addition to the first prize, the digital transformation practice project of the interbank ecological platform of the Postal Savings Bank, the technology innovation and implementation project of mobile phone networkless and electricity-free payment jointly completed with the Digital Currency Research Institute of the People's Bank of China and other units won the second prize, and the scenario-based data middle office application practice project based on the collaborative integration of the three major OPS won the third prize.
In the next step, PSBC will further consolidate the foundation of financial technology, accelerate digital transformation, empower high-quality development with financial technology, strive to build a first-class large-scale retail bank, help the scientific and technological progress and development of the financial industry, and contribute to the promotion of Chinese-style modernization.