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.