With the in-depth application of digital technology, digital transformation is ushering in a new round of changes. How to promote the strategic transformation of enterprises, help enterprises improve the quality and efficiency of development, and support enterprises to achieve high-quality development through standardization, digitalization, and refinement have become important issues in the digital transformation of financial companies.
In order to promote the work requirements of the digital transformation of financial companies, exchange and summarize the work experience of financial companies in the same industry, the "New Core and New Momentum - Digital Transformation Seminar of Financial Companies" hosted by China Electronics and undertaken by China Electronics Financial Trust was held in Beijing . Jinxin has released a white paper on the core system of financial companies "Integrity and Innovation--The Transformation of the Core System of Financial Companies in the New Era ".
The following is an excerpt from the white paper:
01 Core business system transformation boosts the digitalization process of financial companies
Digital transformation is the only way to improve the innovation ability of enterprises and establish a world-class enterprise. However, the digital transformation of financial companies faces many challenges: information construction generally lacks top-level design, high investment but insignificant results, and weak technology makes it difficult to carry out digital transformation independently. As a key application supporting the financial company's business strategy, the core business system is an important supporting force for the digital customer service of the financial company. The application functions it provides reflect the basic demands of the financial company for key business capabilities. Therefore, one of the key measures for the digital transformation of financial companies is to realize the transformation of core business systems .
02Seven key capabilities for core business system transformation
The core business system empowers the digital transformation of financial companies through these seven key capabilities. They are: business modeling , with the ability to guide the construction of core systems with high-quality input; with the goal of "customer-centric", with the service ability to provide customized ultimate experience; based on "data standardization", with value Maximized data mining and operation capabilities; relying on the large security system of the " Yuanqi " platform, with comprehensive security protection capabilities; building a middle-office system, with rapid support capabilities for front-end scene innovation; strengthening risk management, with comprehensive risk control Ability; build a tool chain system, with technical asset management and rapid delivery capabilities.
03 "Agile innovation, stable and reliable" new generation distributed core business system
04 Path suggestion and implementation process for core system transformation of financial companies
At present, there are two commonly used digital transformation solutions for financial companies: the overall replacement plan (all functions of the existing system are migrated to the new system at one time) and the step-by-step replacement plan (the existing system is first replaced and decoupled step by step, step by step migration of existing system functionality to the new system). The implementation process can guide and standardize the development and implementation of the core business system, mainly from the planning and design level, the system development level, and the special program design level for key technical and business issues.
05Business value
The construction of the financial company's core business system can bring these capabilities to the financial company: the platform-based service capabilities and data capabilities of the core business system can improve the digital management capabilities of the financial company; the layered and domain-specific application architecture design allows the financial company's business The delivery is more agile; the "customer-centric" design concept makes the customer experience better; the basic data processing capability integrating flow and batching improves the value of financial company data assets; the introduction of mature management models and experience in the core business of the banking industry improves risk management capabilities ; The distributed core business system can continue to expand and improve the processing capacity of large transaction volume; the mature independent computing technology system realizes the full-stack independent control.